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MENKUL KIYMET PİYASALARI, FİNANSAL KALKINMA VE EKONOMİK BÜYÜME: TÜRKİYE ÖRNEĞİ

Capital Markets, Financial Development and Economic Growth: The Case of Turkey

Journal Name:

  • İstanbul Üniversitesi İktisat Fakültesi Mecmuası

Publication Year:

  • 2006

Key Words:

Keywords (Original Language):

Author NameUniversity of AuthorFaculty of Author
Abstract (2. Language): 
The aim of this article is to investigate the contribution of financial development, which is expanded to include the capital markets in terms of the stock market, to economic growth in Turkey. To this end, the functions of financial sector and role of capital markets in economic development are discussed in detail. The empirical, results, obtained by utilizing the Johansen cointegration test for the period of Î987:Ql-2002:Q2, show that the indicators of financial development in terms of the stock market is one of the important determinants for economic growth. On the other hand, it has been seen that financial development is mainly determined by économie growth and the contribution ofthe steok market tofinancial development is quite weak.
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Abstract (Original Language): 
Bu makalenin amacı, Türkiye'de fınansal kalkınmanın ekonomik büyümeye katkısını ortaya koymaktır. Bu amaçla fınansal kalkınma, sermaye piyasalarım da kapsayacak şekilde ele alınmakta ve fınansal sektörün ekonomik kalkınmadaki rolü tartışılmaktadır. 1987:Q1 ~2002:Q2 dönemine ait üç aylık verilerin, Johansen eş- bütünleşme testi ile değerlendirilmesi sonucu elde edilen bulgular, borsaya ilişkin fınansal kalkınma göstergelerinin ekonomik büyümeyi açıklayan önemli faktörlerden biri olduğunu göstermektedir. Diğer taraftan fınansal kalkınmanın ise ekonomik büyüme tarafından belirlendiği ve borsanın fınansal kalkınmaya etkisinin olmadığı görülmüştür.
FULL TEXT (PDF): 
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  • 1
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  • Turkish

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