STOCK MARKET AND BANKING SECTOR DEVELOPMENT IN TURKEY: DO THEY HAVE THE SAME IMPACT ON ECONOMIC GROWTH?

被引：3

作者：

Kaya, Elif ^{[1
]}

Bektas, Eralp ^{[2
]}

Feridun, Mete ^{[2
]}

机构：

[1] Credit W Bank Letkosa, Treasury Dept, TR-10 Mersin, Turkey

[2] Eastern Mediterranean Univ, Fac Business & Econ, Dept Banking & Finance, TR-10 Gazi Magosa, Mersin, Turkey

来源：

ECONOMIC RESEARCH-EKONOMSKA ISTRAZIVANJA | 2011年 / 24卷 / 04期

关键词：

Granger-causality; banking sector; stock market; FINANCIAL DEVELOPMENT; CAUSALITY;

D O I：

10.1080/1331677X.2011.11517481

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This article investigates the impact of financial stock market development and banking sector development on economic growth in the case of Turkey using Johansen cointegration and Granger causality tests for the period between 01:1988 and 12:2004. The results suggest that banking sector development has positive impact on economic growth and vice versa. Hence, the results lend support to both demand following and supply leading hypotheses for banking sector development and economic growth relationship. However, the results fail to yield the same conclusion for the stock market-economic growth relationship.

引用

页码：65 / 74

页数：10

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