IDEAS home Printed from https://ideas.repec.org/p/eyd/cp2015/293.html
   My bibliography  Save this paper

Financial Development, Capital Accumulation, Productivity and Growth: The Turkish Case

Author

Listed:
  • Seyit Mümin Cilasun

    (Atilim University, Department of Economics)

  • Burcu Dinçergök

    (Atilim University, Department of Management)

  • Mustafa İsmihan

    (Atilim University, Department of Economics)

Abstract

The aim of this study is to analyze the impact of financial development and instability on economic growth in Turkey as well as on capital accumulation and productivity, which are the sources of growth. To this end, a quarterly data set (1989Q1-2014Q4) is used to investigate the relationship between financial development, instability and economic growth within a production function framework using the Johansen cointegration and impulse response techniques. The impact of financial development and economic instability on capital accumulation and productivity is also analyzed in the same way. Furthermore, in addition to using the private sector credits-GDP ratio, which is the widely used basic financial development indicator in the related literature, appropriate indices are developed to represent the role of the banking system and capital markets in financial development. In so doing, this study aims to clarify the role played by the banking system and capital markets in capital accumulation, productivity and growth in a way that is of relevance to policymakers.

Suggested Citation

  • Seyit Mümin Cilasun & Burcu Dinçergök & Mustafa İsmihan, 2015. "Financial Development, Capital Accumulation, Productivity and Growth: The Turkish Case," EY International Congress on Economics II (EYC2015), November 5-6, 2015, Ankara, Turkey 293, Ekonomik Yaklasim Association.
    • Handle: RePEc:eyd:cp2015:293
    as

    Download full text from publisher

    File URL: http://ekonomikyaklasim.org/eyc2015/userfiles/downloads/_Paper%20293.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Financial Development; Capital Accumulation; Productivity; Macroeconomic Instability; Growth; Turkey;
    All these keywords.

    JEL classification:

    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
    • G00 - Financial Economics - - General - - - General
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eyd:cp2015:293. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ozan Eruygur (email available below). General contact details of provider: http://www.ekonomikyaklasim.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.