Does Financial Development Enhance Economic Growth? The Case of Turkic Countries

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dc.contributor.authorCetenak, Emin Huseyin
dc.contributor.authorHaykir, Ozkan
dc.contributor.authorCetenak, Oezlem Ozturk
dc.date.accessioned2024-11-07T13:25:29Z
dc.date.available2024-11-07T13:25:29Z
dc.date.issued2023
dc.departmentNiğde Ömer Halisdemir Üniversitesi
dc.description.abstractIn this study, we investigate whether financial development enhances economic growth in Turkic countries, namely, Azerbaijan, Kazakhstan, Kyrgyzstan, and Turkiye from 1995 to 2017. The financial development index is obtained from the International Monetary Fund to proxy for the level of financial development. The index shows the level of development of financial institutions and financial markets in terms of depth, access, and efficiency. The annual percentage growth rate of GDP per capita based on constant local currency is taken as an indicator of economic growth. The main result of the analysis shows that there is a positive relationship between financial development and economic growth. The result is robust using random effect regression, adding inflation, and including Banking Z Score. However, the main impact can be seen in the financial institution instead of the financial market proxy. The results support the supply-leading hypothesis for the economies of four Turkic countries.
dc.identifier.endpage76
dc.identifier.issn1301-0549
dc.identifier.issue106
dc.identifier.scopus2-s2.0-85166424319
dc.identifier.scopusqualityQ3
dc.identifier.startpage55
dc.identifier.trdizinid1257351
dc.identifier.urihttps://search.trdizin.gov.tr/tr/yayin/detay/1257351
dc.identifier.urihttps://hdl.handle.net/11480/14743
dc.identifier.wosWOS:001044751600001
dc.identifier.wosqualityQ4
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.indekslendigikaynakTR-Dizin
dc.language.isoen
dc.publisherAhmet Yesevi Univ
dc.relation.ispartofBilig
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.snmzKA_20241106
dc.subjectFinancial development
dc.subjecteconomic growth
dc.subjectTurkic countries
dc.subjectfinancial institutions
dc.subjectfinancial markets
dc.titleDoes Financial Development Enhance Economic Growth? The Case of Turkic Countries
dc.title.alternativeFinansal Gelişme Ekonomik Büyümeyi Artırır mı? Türk Cumhuriyetleri Örneği
dc.typeArticle

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