FINANCIAL DEVELOPMENT AND INVESTMENT AMOUNT NEXUS: A CASE STUDY OF TURKEY
Journal Title: Asian Economic and Financial Review - Year 2016, Vol 6, Issue 3
Abstract
The paper examines the relationship between financial development and investment amount in Turkey over the period of 1998:01-2015:02 by using Toda-Yamamoto method. Banking sector and stock market measures of financial development are used in the econometric analysis. Our findings suggest that there is uni-directional causality from stock market development to investment amount. Moreover, empirical findings present that there is uni-directional causality from investment amount to banking sector development and bi-directional causality between banking sector development and stock market development.
Authors and Affiliations
Banu Demirhan| Afyon Vocational School, Department of Economics and Administrative Programs, Afyon Kocatepe University, Turkey
Keywords
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