Revisiting the Finance-Growth Nexus in Turkey: Bayer-Hanck Combined Cointegration Approach over the 1970-2016 Period

被引：0

作者：

Ozdemir, Onur ^{[1
]}

机构：

[1] Istanbul Gelisim Univ, Dept Int Trade, Istanbul, Turkey

来源：

SOSYOEKONOMI | 2020年 / 28卷 / 44期

关键词：

Financial Development; Economic Growth; Economic Globalization; Technological Progress; Bayer-Hanck Combined Cointegration Test; ECONOMIC-GROWTH; STOCK MARKETS; GOVERNMENT OWNERSHIP; STABILIZATION POLICY; ERROR-CORRECTION; UNIT-ROOT; LIBERALIZATION; BANKS; INTERMEDIATION; INSTITUTIONS;

D O I：

10.17233/sosyoekonomi.2020.02.03

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This study revisits the finance-growth nexus in Turkey for the period between 1970 and 2016. The econometric analysis is based on the Bayer-Hanck combined cointegration test to examine whether the cointegration exists or not between the related variables. The results of the Bayer-Hanck combined cointegration test show that there is no cointegration between financial development and economic growth even in the control of other variables such as economic globalization and technological progress. The estimation results also reveal that the long-run linkage is not prevailing between the variables. In other words, it can be argued that financial development does not contribute to the economic growth process by way of higher levels of economic globalization and technological progress in the long-run.

引用

页码：41 / 68

页数：28