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TÜRKİYE’DE FİNANSAL GELİŞME VE EKONOMİK BÜYÜMENİN NEDENSELLİK YÖNÜ ÜZERİNE BİR İNCELEME (1975 - 2003)

Journal Name:

  • İstanbul Üniversitesi Maliye Araştırma Merkezi Konferansları Dergisi
Author NameUniversity of AuthorFaculty of Author
Abstract (2. Language): 
This paper investigates the direction of causality between the development of financial systems and economic growth for Turkey for the period 1975-2003 using the Granger-causality tests (Granger, Engle, Johansen). The empirical results support that causality is not bidirectional. Causality analysis indicates that financial sector development causes economic growth in the Granger sense. This seems to validate the supply-leading hypothesis. The findings of the causality analysis also suggest that financial sector development contributes significantly to economic growth in Turkey for the period 1975-2003.
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Abstract (Original Language): 
Bu çalışmada, Türkiye’de 1975-2003 döneminde, finasal sistemin gelişimi ile ekonomik büyüme arasındaki ilişkinin yönü, Granger–nedensellik testi (Granger, Engle, Johansen) kullanılarak araştırılmıştır. Nedensellik analizinin sonuçlarına göre, finansal sektörün gelişimi ekonomik büyümeye neden olmaktadır. Bu sonuç arz öncüllü (supply-leading) hipotezi doğrulamaktadır.Aynı zamanda Granger nedensellik analizinin sonuçları, Türkiye’de 1975-2003 döneminde finansal gelişmenin ekonomik büyüme oranı üzerinde anlamlı ve pozitif bir katkısı olduğunu da göstermektedir.
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  • 46
99-105
  • Turkish

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