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The Impact of Financial Stability on Real Economy in Turkey: Based on Linear and Non-Linear ARDL ModelsAbstract: The stability situation of financial system and its impact on real economy is a discussion subject. The aim of the study is to investigate the impact of stability situation of financial system on real economy and reveal reciprocal asymmetric effects between each other. For this purpose, composite financial stability index is developed in order to gauge stability situation of Turkey’s financial system for the quarterly period of 2004-2017. It was seen that index is a good proxy of related period due to reflect domestic and global economic affairs. Linear ARDL model was determined based on unit root structures of variables. Non-linear ARDL model and Hatemi-J causality test were used to analyse stability and instability situations of financial system, separately. The findings indicate that financial stability affects real economy more than instability at the related period

Author

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  • Mesut Alper GEZER
  • Ramazan KILIÇ

Abstract

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Suggested Citation

  • Mesut Alper GEZER & Ramazan KILIÇ, 2020. "The Impact of Financial Stability on Real Economy in Turkey: Based on Linear and Non-Linear ARDL ModelsAbstract: The stability situation of financial system and its impact on real economy is a discuss," Sosyoekonomi Journal, Sosyoekonomi Society, issue 28(46).
    • Handle: RePEc:sos:sosjrn:200406
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    Keywords

    Financial Stability; Real Economy; ARDL; Asymmetry; Hatemi-J.;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies

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