Citation Number
19
Views
76
Downloands
40
Finans piyasasındaki gelişmeler bir ekonominin gelişmesi açısından önem taşımaktadır. Finans piyasasındaki gelişmelerle, küresel üretim ve ticaret hacminin artması arasında ilişki olduğu bilinmektedir. Bununla birlikte, bu faktörler arasındaki ilişkinin kesin olarak belirlenememesi nedeniyle, finansal gelişmişlik ve ekonomik büyüme ilişkisi uzun zamandır tartışılan konular arasında yer almaktadır. Literatürdeki çalışmalarda finansal gelişme ve ekonomik büyüme arasında farklı yönde ilişkinin olduğu gösterilmiştir. Finansal gelişmenin ekonomik büyümeye neden olduğu, ekonomik büyümenin finansal gelişmeye neden olduğu, karşılıklı ilişki olduğu ve ilişki olmadığı yönünde dört tür yaklaşım bulunmaktadır. Bu çalışmada, kırılgan beşli ülkelerindeki finansal gelişme ve ekonomik büyüme ilişkisi 1992-2016 yılları için Westerlund eşbütünleşme yöntemiyle araştırılmıştır. Analizde finansal gelişmişlik ölçütü olarak özel sektöre verilen yurt içi kredi ve ekonomik büyüme oranı değişkenleri kullanılmıştır. Elde edilen sonuçlar, finansal gelişmişlik ve ekonomik büyüme arasında uzun dönemli ilişki olduğunu göstermektedir. Ayrıca, DOLS ve FMOLS tahmincileriyle elde edilen panel eşbütünleşme katsayılarına göre, uzun dönemde finansal gelişme ve ekonomik büyüme arasında pozitif ve anlamlı ilişki olduğu belirlenmiştir.
The development of the financial markets is important for the development of an economy. It is known that with the developments in the financial market, there is a link between the increase in global production and volume of trade. However, as the relationship between these factors is not clearly determined, the relationship between financial development and economic growth has been among the topics that have been discussed for a long time. Studies in literature have shown the relationship between financial development and economic growth in different directions. There are four types of approaches in which financial development causes economic growth, economic growth causes financial development, mutual relationships and no relationships. In this study, the relationship between financial development and economic growth in their vulnerable five countries was studied by the Westerlund method of integration for the years 1992-2016. The analysis used the domestic credit and economic growth rate variables given to the private sector as a measure of financial development. The results show that there is a long-term relationship between financial growth and economic growth. Additionally, according to panel integration rates obtained by the DOLS and FMOLS forecasts, there is a positive and meaningful relationship between financial development and economic growth in the long term.
Developments in the financial market are important for the development of an economy. By developments in the financial markets, it is known as the relationship between the volume of global production and the increase in trade . However, the relationship between financial development and economic growth has been discussed for a long time, as the relationship between these factors cannot be determined precisely. Studies in the literature have shown that there is a relationship of different direction between financial development and economic growth. There are four types of approaches in the that financial development causes economic growth, economic growth leads to financial development, interrelation and lack of relationship. In this study, the relationship between financial development and economic growth in the fragile five countries was investigated by Westerlund co-integration method for the years 1992-2016. The results show a long-term relationship between financial development and economic growth. Moreover, according to panel co-integration coefficients obtained by DOLS and FMOLS estimators, a positive and significant relationship was found between financial development and economic growth in the long-run.
Field : Sosyal, Beşeri ve İdari Bilimler
Journal Type : Uluslararası
Article Detail 
Citation Owners
Similar Articles
Download PDF
Journal Information
Listen Paper
Print This Page
Share
Mendeley
