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The Impact of Saving and Financial Development on Economic Growth in Turkey

Author

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  • Hatem Hatef Abdulkadhim Altaee
  • Mohamed Khaled Al-Jafari

Abstract

Since saving and financial development are vital to economic growth, this research empirically investigates the impact of saving and financial development on economic growth in Turkey. Therefore, a time series data from 1968 until 2017 were tested utilizing both the error correction model (ECM) and the autoregressive distributed lag approach (ARDL). The findings reveal an existence of a short-run and a long-run positive and significant effect of savings and financial development on economic growth. Conventional inputs such as capital and labor proved to be the most important factors in achieving economic growth in Turkey. The study concludes that an appropriate policy mix will enhance domestic saving in the country.

Suggested Citation

  • Hatem Hatef Abdulkadhim Altaee & Mohamed Khaled Al-Jafari, 2019. "The Impact of Saving and Financial Development on Economic Growth in Turkey," Asian Journal of Finance & Accounting, Macrothink Institute, vol. 11(2), pages 114-114, December.
    • Handle: RePEc:mth:ajfa88:v:11:y:2019:i:2:p:114
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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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