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Bu çalışma, finansal gelişmişlik ile iktisadi büyüme arasındaki ilişkinin varlığını test etmekle beraber söz konusu ilişkinin yönünü farklı ekonometrik testlerle belirlemeye çalışmaktadır. Türkiye’de 1999:Q1-2018:Q1 dönemini kapsayan çeyreklik veriler kullanılarak oluşturulan model ARDL sınır testi yaklaşımı ile tahmin edilmiş olup, nedensellik ilişkisi Toda Yamamoto ve Hatemi-J testleri ile sınanmıştır. Bulgular, söz konusu ilişkinin varlığını kabul etmekle beraber yapılan her iki nedensellik testi sonucu da ilişkinin iktisadi büyümeden finansal gelişmişliğe doğru olduğunu ortaya koymaktadır.
This study tries the existence of the relationship between financial development and economic growth while trying to determine the direction of the relationship by different econometric tests. In Turkey, the model created using quarterly data covering the 1999:Q1-2018:Q1 period was predicted by the ARDL border test approach, and the causality relationship was tested by the Toda Yamamoto and Hatemi-J tests. The findings show that the two reasoning tests conducted together to recognize the existence of the relationship, also show that the relationship is right from economic growth to financial development.
This study aims to test the existence and the direction of the relationship between financial development and economic growth with various econometric tests. The model that was created by utilizing quarterly data obtained in Turkey between 1999:Q1–2018:Q1 has been estimated by the ARDL bounds testing approach and the causality relationship has been tested by Toda-Yamamoto and Hatemi-J tests. Although the findings acknowledge the existence of the relationship in question, the results of both causality tests reveal the direction of the relationship to be from economic growth to financial development.
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