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Finansal Dışa Açıklık İle Ekonomik Büyüme İlişkisi: Asimetrik Nedensellik Testi
[The Relation between Financial Openness and Economic Growth: Asymmetric Causality Test]

Author

Listed:
  • Yıldırım, Durmuş Çağrı
  • Çevik, Emrah İsmail

Abstract

The aim of the study is to examine the effects of financial openness on Turkey economy for the periods of 1993-2016. We consider real GDP for economic growth variable in the study and financial openness variable is calculated regarding to definition by Aizenman (2004). We employ both Granger causality test and asymmetric causality test proposed by Hatemi-J (2012) to determine dynamic relation between economic growth and financial openness. We find bidirectional causal link running from economic growth to financial openness according to symmetric causality test result. Asymmetric causality test results suggest that financial openness is positively affected from economic contraction and economic growth effects financial openness as negatively.

Suggested Citation

  • Yıldırım, Durmuş Çağrı & Çevik, Emrah İsmail, 2017. "Finansal Dışa Açıklık İle Ekonomik Büyüme İlişkisi: Asimetrik Nedensellik Testi [The Relation between Financial Openness and Economic Growth: Asymmetric Causality Test]," MPRA Paper 80472, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:80472
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    References listed on IDEAS

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    1. R. Scott Hacker & Abdulnasser Hatemi-J, 2008. "Optimal lag-length choice in stable and unstable VAR models under situations of homoscedasticity and ARCH," Journal of Applied Statistics, Taylor & Francis Journals, vol. 35(6), pages 601-615.
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    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy

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