Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/142511
Authors: 
Halicioglu, Ferda
Year of Publication: 
2007
Series/Report no.: 
EERI Research Paper Series 06/2007
Abstract: 
This study investigates the validity of the demand-pulling and the supply-leading hypotheses using annual data from 1968 to 2005. The bounds testing approach to cointegration is conducted to establish the existence of a long-run relationship between financial development and economic growth. An augmented form of Granger causality analysis is implemented to identify the direction of causality among the variables both in the short-run and the long-run. The empirical findings suggest unidirectional causation from financial development to economic growth.
Subjects: 
Growth
financial intermediation
causality
cointegration
Turkey
JEL: 
C22
F40
O52
Document Type: 
Working Paper

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