Finansal gelişme ve ekonomik büyüme ilişkisi: Türkiye ekonomisi için bir uygulama

Bu çalışmada finansal gelişme ve ekonomik büyüme arasındaki ilişki Türkiye ekonomisi verileri ile sınanmaktadır. Bu amaçla üçer aylık veri sıklığını kullanan 2005Q4 – 2018Q2 inceleme döneminde çağdaş zaman serisi Johansen eşbütünleşim yöntemi ve geleneksel Granger nedensellik çözümlemesinin bir vektör ardışık bağlanım (VAR) modeli tahmin süreci altında aynı ya da farklı dereceden bütünleşik zaman serilerine uygulanmasına olanak sağlayan Toda-Yamamoto nedensellik sınamaları kullanılmaktadır. Elde edilen bulgular finansal gelişme ile reel gelir düzeyi arasında uzun dönemli durağan bir ilişkiyi doğrulamakta, gerçekleştirilen nedensellik çözümlemeleri reel gelir düzeyinden finansal gelişmişlik düzeyine doğru bir nedenselliğin varlığına işaret etmektedir.

Anahtar Kelimeler:

Finansal gelişme, Ekonomik büyüme, Türkiye ekonomisi

Financial development and economic growth relationship: An application for the Turkish economy

In this study, the relationship between financial development and economic growth has been tested by using the data from the Turkish economy. For this purpose, the contemporaneous time series Johansen cointegration method and Toda-Yamamoto causality tests that enable to apply conventional Granger causality analysis under a vector autoregressive model estimation process with the same or different order integrated time series have been used. The findings obtained verify a long run stationary relationship between financial development and real income, and the causality tests applied point out the existence of causality running from real income towards the level of financial development.

Keywords:

Financial development, Economic growth, Turkish economy,

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