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

Related Articles

THE CORRELATION AND CONTAGION EFFECT BETWEEN US REITS AND JAPAN REITS - BASED ON THE ARMAX-GJR-GARCH-COPULA MODEL

The article discuss the relationship between US REITs and Japan REITs. In empirical study, we apply five static ARMAX-GJR-GARCH copula models and two time-varying dynamic copula models. The results show that the kendall...

FACTORS INFLUENCING SUCCESSFUL BRAND EXTENSION INTO RELATED AND UNRELATED PRODUCT CATEGORIES

This study describes the study that analyzes the factors influencing successful brand extension. Specifically the study analyze the impact of similarity, brand reputation, perceived risk and consumer innovativeness on th...

TOWARD A STRONG CHINESE ECONOMY

How to keep Chinese economy’s high growth rate in a long run toward the fully modernized era of China is the major topic of this paper. This letter will develop some theories as a guidance of Chinese economic reforms and...

A COMPARATIVE STUDY OF THE TAIWAN AND JAPAN EQUITY AND FOREIGN EXCHANGE MARKETS: MODELING, ESTIMATION AND APPLICATION OF THE COMPONENT GARCH-IN-MEAN MODEL

The main purpose of this paper is to verify the effectiveness of the bivariate Component GARCH-in-mean (GARCH-M) model and analyze the interactions and risk premium of equity markets by exploring the short- and long-run...

STOCK MARKET INTEGRATION IN WEST AFRICAN MONETARY ZONE: A LINEAR AND NONLINEAR COINTEGRATION APPROACH

The capital market plays a significant role in the development of an economy and hence an important determinant of regionalisation and single currency area formation. Stock and other capital markets have been found to pr...

Download PDF file
  • EP ID EP2254
  • DOI -
  • Views 514
  • Downloads 37

How To Cite

Banu Demirhan (2016). FINANCIAL DEVELOPMENT AND INVESTMENT AMOUNT NEXUS: A CASE STUDY OF TURKEY. Asian Economic and Financial Review, 6(3), 127-134. https://europub.co.uk/articles/-A-2254