İKTİSADİ BÜYÜMEDE FİNANSAL GELİŞMENİN ETKİSİ: D-8 ÜLKELERİNDE NEDENSELLİK İLİŞKİSİ

Öz Finansal gelişme ve iktisadi büyüme arasında yakın bir ilişkinin varlığı bilinmektedir. Bu ilişki bazen talep yönlü, bazen arz yönlü olmak üzere kendini gösterir. Bu çalışmada D-8 ülkeleri (Bangladeş, Endonezya, İran, Malezya, Mısır, Nijerya, Pakistan ve Türkiye) verileri kullanılarak iktisadi büyüme ile finansal gelişme arasındaki nedensellik ilişkisi panel veri seti kullanılarak irdelenmeye çalışılmıştır. Veri seti 1960-2009 yıllarını kapsamaktadır. Analiz edilen ülkelerin bir kısmında, İktisadi büyüme ve finansal gelişme arasında kısa ve uzun dönem nedensellik ilişkisinin varlığı tespit edilmiştir. Kullanılan finansal değişkenlerden büyüme üzerinde en etkili olanın özel sektör kredileri olduğu sonucuna ulaşılmıştır.

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