{"id":864,"date":"2011-01-14T14:42:09","date_gmt":"2011-01-14T19:42:09","guid":{"rendered":"http:\/\/www.berjournal.com\/?p=864"},"modified":"2011-05-18T16:05:54","modified_gmt":"2011-05-18T21:05:54","slug":"finansal-gelisme-ve-ekonomik-buyume-arasindaki-iliskinin-ampirik-bir-analizi-turkiye-ornegi","status":"publish","type":"post","link":"https:\/\/www.berjournal.com\/tr\/finansal-gelisme-ve-ekonomik-buyume-arasindaki-iliskinin-ampirik-bir-analizi-turkiye-ornegi","title":{"rendered":"Finansal Geli\u015fme ve Ekonomik B\u00fcy\u00fcme Aras\u0131ndaki \u0130li\u015fkinin Ampirik Bir Analizi: T\u00fcrkiye \u00d6rne\u011fi"},"content":{"rendered":"<table style=\"width: 537px;\" border=\"1\" cellspacing=\"0\" cellpadding=\"7\" width=\"520\" frame=\"hsides\" bordercolor=\"#00ffff\">\n<colgroup span=\"1\">\n<col span=\"1\" width=\"544\"><\/col>\n<\/colgroup>\n<tbody>\n<tr>\n<td width=\"544\" valign=\"top\" bgcolor=\"#ccecff\">\n<p style=\"margin-top: 0.21cm;\"><span style=\"font-family: Arial, sans-serif;\"><span style=\"font-size: small;\"><strong>Makale Bilgileri<\/strong><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"544\" valign=\"top\">\n<p style=\"margin-top: 0.11cm; margin-bottom: 0.11cm;\"><span style=\"font-size: small;\"><span style=\"font-family: Arial, sans-serif;\"><strong>Dergi: <\/strong><\/span><span style=\"font-family: Arial, sans-serif;\">\u0130\u015fletme ve Ekonomi Ara\u015ft\u0131rmalar\u0131 Dergisi<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: small;\"><span style=\"font-family: Arial, sans-serif;\"><strong>Makalenin Ba\u015fl\u0131\u011f\u0131: <\/strong><\/span><span style=\"font-family: Arial, sans-serif;\">Finansal Geli\u015fme ve Ekonomik B\u00fcy\u00fcme Aras\u0131ndaki \u0130li\u015fkinin Ampirik Bir Analizi: T\u00fcrkiye \u00d6rne\u011fi<br \/>\n<\/span><\/span><span style=\"font-size: small;\"><span style=\"font-family: Arial, sans-serif;\">[<\/span><span style=\"font-family: Arial, sans-serif;\">An Empirical Analysis of Relationship between Financial Development and Economic Growth: The Turkish Case<\/span><span style=\"font-family: Arial, sans-serif;\">]<\/span><\/span><\/p>\n<p style=\"margin-top: 0.11cm; margin-bottom: 0.11cm;\"><span style=\"color: #000000;\"><span style=\"font-family: Microsoft Sans Serif, sans-serif;\"><span style=\"font-size: small;\"><span style=\"font-family: Arial, sans-serif;\"><strong>Yazar(lar): <\/strong><\/span><span style=\"font-family: Arial, sans-serif;\">Burcu \u00d6zcan, Ay\u015fe Ar\u0131<\/span><\/span><\/span><\/span><\/p>\n<p style=\"margin-top: 0.11cm; margin-bottom: 0.11cm;\"><span style=\"font-size: small;\"><span style=\"font-family: Arial, sans-serif;\"><strong>Cilt: <\/strong><\/span><span style=\"font-family: Arial, sans-serif;\">2<\/span><\/span><\/p>\n<p style=\"margin-top: 0.11cm; margin-bottom: 0.11cm;\"><span style=\"font-size: small;\"><span style=\"font-family: Arial, sans-serif;\"><strong>Say\u0131: <\/strong><\/span><span style=\"font-family: Arial, sans-serif;\">1<\/span><\/span><\/p>\n<p style=\"margin-top: 0.11cm; margin-bottom: 0.11cm;\"><span style=\"font-size: small;\"><span style=\"font-family: Arial, sans-serif;\"><strong>Y\u0131l: <\/strong><\/span><span style=\"font-family: Arial, sans-serif;\">2011<\/span><\/span><\/p>\n<p style=\"margin-top: 0.11cm; margin-bottom: 0.11cm;\"><span style=\"font-size: small;\"><span style=\"font-family: Arial, sans-serif;\"><strong>Sayfa:<\/strong><\/span><span style=\"font-family: Arial, sans-serif;\"> 121 &#8211; 142<\/span><\/span><\/p>\n<p style=\"margin-top: 0.11cm;\"><span style=\"font-size: small;\"><span style=\"font-family: Arial, sans-serif;\"><strong>ISSN: <\/strong><\/span><span style=\"font-family: Arial, sans-serif;\">1309-2448<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"544\" valign=\"top\" bgcolor=\"#ccecff\">\n<p style=\"margin-top: 0.11cm;\"><span style=\"font-family: Arial, sans-serif;\"><span style=\"font-size: small;\"><strong>\u00d6zet<\/strong><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"544\" valign=\"top\">\n<p style=\"text-align: justify;\"><span style=\"font-size: small;\"><span style=\"font-family: Arial, sans-serif;\">Finansal geli\u015fme, finansal liberalizasyon ve finansal derinlik son d\u00f6nemde \u00f6nemli tart\u0131\u015fma konular\u0131 haline gelmi\u015ftir. \u00d6zellikle, finansal geli\u015fmeyle ekonomik b\u00fcy\u00fcme aras\u0131ndaki ili\u015fki bir\u00e7ok yazar taraf\u0131ndan ara\u015ft\u0131r\u0131lm\u0131\u015ft\u0131r. Yap\u0131lan \u00e7al\u0131\u015fmalarda farkl\u0131 \u00fclke \u00f6rnekleri ve farkl\u0131 ekonometrik y\u00f6ntemler kullan\u0131ld\u0131\u011f\u0131ndan farkl\u0131 sonu\u00e7lara ula\u015f\u0131lm\u0131\u015ft\u0131r. Bu nedenle ili\u015fkinin varl\u0131\u011f\u0131 ve y\u00f6n\u00fc hakk\u0131nda bir uzla\u015f\u0131 s\u00f6z konusu de\u011fildir. Baz\u0131 yazarlar bu durumu \u201cyumurta-tavuk problemi\u201d olarak adland\u0131rmaktad\u0131r. \u0130li\u015fkinin y\u00f6n\u00fc konusunda d\u00f6rt durum s\u00f6z konusudur: ekonomik b\u00fcy\u00fcmeden finansal geli\u015fmeye, finansal geli\u015fmeden ekonomik b\u00fcy\u00fcmeye, iki y\u00f6nl\u00fc bir ili\u015fki ya da bu de\u011fi\u015fkenler aras\u0131nda herhangi bir ili\u015fkinin olmamas\u0131 hali. Bu \u00e7al\u0131\u015fmada T\u00fcrkiye ekonomisinde finansal geli\u015fme ile iktisadi b\u00fcy\u00fcme aras\u0131ndaki ili\u015fki 1998\u20132009 d\u00f6nemi i\u00e7in VAR Modeli arac\u0131l\u0131\u011f\u0131yla analiz edilmi\u015ftir. \u00c7al\u0131\u015fmadan elde edilen sonu\u00e7lara g\u00f6re, T\u00fcrkiye\u2019de finansal geli\u015fme ile iktisadi b\u00fcy\u00fcme aras\u0131nda tek y\u00f6nl\u00fc bir ili\u015fki bulunmaktad\u0131r. Bu ili\u015fkinin y\u00f6n\u00fc ise, Granger nedensellik testi sonucuna g\u00f6re, ekonomik b\u00fcy\u00fcmeden finansal geli\u015fmeye do\u011frudur. B\u00f6ylece, Robinson taraf\u0131ndan ileri s\u00fcr\u00fclen ve \u201ctalep takipli hipotez\u201d olarak adland\u0131r\u0131lan g\u00f6r\u00fc\u015f\u00fc destekleyen bulgulara ula\u015f\u0131lm\u0131\u015ft\u0131r<\/span><span style=\"font-family: Arial, sans-serif;\">.<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"544\" valign=\"top\">\n<p style=\"text-align: justify;\"><span style=\"font-size: small;\"><span style=\"font-family: Arial, sans-serif;\"><strong>Anahtar Kelimeler: <\/strong><\/span><span style=\"font-family: Arial, sans-serif;\">Finansal geli\u015fme, Finansal liberalle\u015fme, Finansal derinle\u015fme, Ekonomik b\u00fcy\u00fcme, VAR Modeli<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"544\" valign=\"top\">\n<p style=\"margin-top: 0.11cm;\"><span style=\"font-size: small;\"><span style=\"font-family: Arial, sans-serif;\"><strong>JEL S\u0131n\u0131fland\u0131rmas\u0131:<\/strong><\/span><span style=\"font-family: Arial, sans-serif;\"> E02, E44, O16<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"544\" valign=\"top\" bgcolor=\"#ccecff\">\n<p style=\"margin-top: 0.11cm;\"><span style=\"font-family: Arial, sans-serif;\"><span style=\"font-size: small;\"><strong>Abstract<\/strong><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;\" width=\"544\" valign=\"top\"><span style=\"font-size: small;\"><span style=\"font-family: Arial, sans-serif;\"><span lang=\"en-US\">Financial development, financial liberalization and financial deepness have been important research topics in recent years. Especially, the relationship between financial development and economic growth has b<\/span><\/span><span style=\"font-family: Arial, sans-serif;\"><span lang=\"en-US\">een analyzed by many researchers. Different results have been obtained since the country sample and econometric methods used in the analysis are different. Thus, there isn\u2019t any consensus about the presence and direction of this relationship. Some writers call this state \u201cegg-chicken problem\u201d. There are four situations about the direction of this relationship: from economic growth to financial development, from financial development to economic growth, bidirectional relationship or there may be no relationship between these variables. In this study the relationship between financial development and economic growth has been analyzed for Turkey by estimating a VAR Model over the 1998-2009 periods. According to Granger causality test, there is a uni-directional relationship between financial development and economic growth in Turkey. The direction of this relationship is from economic growth to financial development. Consequently,<\/span><\/span><span style=\"font-family: Arial, sans-serif;\"><span lang=\"en-US\"><strong> <\/strong><\/span><\/span><span style=\"font-family: Arial, sans-serif;\"><span lang=\"en-US\">Robinson\u2019s<\/span><\/span><span style=\"font-family: Arial, sans-serif;\"><span lang=\"en-US\"><strong> <\/strong><\/span><\/span><span style=\"font-family: Arial, sans-serif;\"><span lang=\"en-US\">\u201cdemand-following <\/span><\/span><span style=\"font-family: Arial, sans-serif;\"><span lang=\"en-US\">hypothesis\u201d is corroborated<\/span><\/span><span style=\"font-family: Arial, sans-serif;\"><span lang=\"en-US\">.<\/span><\/span><\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"544\" valign=\"top\">\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><span style=\"font-family: Microsoft Sans Serif, sans-serif;\"><span style=\"font-size: small;\"><span style=\"font-family: Arial, sans-serif;\"><span lang=\"en-US\"><strong>Keywords: <\/strong><\/span><\/span><span style=\"font-family: Arial, sans-serif;\"><span lang=\"en-US\">Financial development, Financial liberalization, Financial deepness, Economic growth, VAR Model<\/span><\/span><\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"544\" valign=\"top\">\n<p style=\"margin-top: 0.11cm;\"><span style=\"font-size: small;\"><span style=\"font-family: Arial, sans-serif;\"><strong>JEL Classification:<\/strong><\/span><span style=\"font-family: Arial, sans-serif;\"> E02, E44, O16<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<div><span style=\"font-size: small;\"><span style=\"font-size: small;\"><table style=\"border: 0px solid #CCC;\" cellpadding=\"3\" width=\"100%\">\r\n  <tr>\r\n    <td width=\"35\">\r\n      <img decoding=\"async\" src=\"https:\/\/www.berjournal.com\/tr\/wp-content\/uploads\/icons\/pdf.gif\" alt=\"https:\/\/www.berjournal.com\/tr\/wp-content\/uploads\/icons\/pdf.gif\" width=20 height=18>\r\n    <\/td>\r\n    <td>\r\n      <b> \r\n<a href=\"https:\/\/www.berjournal.com\/tr\/?file_id=49\">Tam Metin\r\n<\/b> ( <span style=\"font-weight:bolder;\">\u2193<\/span> 5014)<\/a>    <\/td>\r\n  <\/tr>\r\n<\/table><\/span><\/span><\/div>\n<div><span style=\"font-size: small;\"><span style=\"font-size: small;\">\u00a0<\/span><\/span><\/div>\n<p><span style=\"font-size: small;\"><span style=\"font-size: small;\">\u00a0<\/p>\n<p><\/span><\/span><\/p>\n<div class=\"pvc_clear\"><\/div>\n<p id=\"pvc_stats_864\" class=\"pvc_stats all  \" data-element-id=\"864\" style=\"\"><i class=\"pvc-stats-icon medium\" aria-hidden=\"true\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"far\" data-icon=\"chart-bar\" role=\"img\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 512 512\" class=\"svg-inline--fa fa-chart-bar fa-w-16 fa-2x\"><path fill=\"currentColor\" d=\"M396.8 352h22.4c6.4 0 12.8-6.4 12.8-12.8V108.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v230.4c0 6.4 6.4 12.8 12.8 12.8zm-192 0h22.4c6.4 0 12.8-6.4 12.8-12.8V140.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v198.4c0 6.4 6.4 12.8 12.8 12.8zm96 0h22.4c6.4 0 12.8-6.4 12.8-12.8V204.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v134.4c0 6.4 6.4 12.8 12.8 12.8zM496 400H48V80c0-8.84-7.16-16-16-16H16C7.16 64 0 71.16 0 80v336c0 17.67 14.33 32 32 32h464c8.84 0 16-7.16 16-16v-16c0-8.84-7.16-16-16-16zm-387.2-48h22.4c6.4 0 12.8-6.4 12.8-12.8v-70.4c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v70.4c0 6.4 6.4 12.8 12.8 12.8z\" class=\"\"><\/path><\/svg><\/i> <img loading=\"lazy\" decoding=\"async\" width=\"16\" height=\"16\" alt=\"Loading\" src=\"https:\/\/www.berjournal.com\/wp-content\/plugins\/page-views-count\/ajax-loader-2x.gif\" border=0 \/><\/p>\n<div class=\"pvc_clear\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Makale Bilgileri Dergi: \u0130\u015fletme ve Ekonomi Ara\u015ft\u0131rmalar\u0131 Dergisi Makalenin Ba\u015fl\u0131\u011f\u0131: Finansal Geli\u015fme ve Ekonomik B\u00fcy\u00fcme Aras\u0131ndaki \u0130li\u015fkinin Ampirik Bir Analizi: T\u00fcrkiye \u00d6rne\u011fi [An Empirical Analysis of Relationship between Financial Development and Economic Growth: The Turkish Case] Yazar(lar): Burcu \u00d6zcan, Ay\u015fe Ar\u0131 Cilt: 2 Say\u0131: 1 Y\u0131l: 2011 Sayfa: 121 &#8211; 142 ISSN: 1309-2448 \u00d6zet Finansal [&hellip;]<\/p>\n<div class=\"pvc_clear\"><\/div>\n<p id=\"pvc_stats_864\" class=\"pvc_stats all  \" data-element-id=\"864\" style=\"\"><i class=\"pvc-stats-icon medium\" aria-hidden=\"true\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"far\" data-icon=\"chart-bar\" role=\"img\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 512 512\" class=\"svg-inline--fa fa-chart-bar fa-w-16 fa-2x\"><path fill=\"currentColor\" d=\"M396.8 352h22.4c6.4 0 12.8-6.4 12.8-12.8V108.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v230.4c0 6.4 6.4 12.8 12.8 12.8zm-192 0h22.4c6.4 0 12.8-6.4 12.8-12.8V140.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v198.4c0 6.4 6.4 12.8 12.8 12.8zm96 0h22.4c6.4 0 12.8-6.4 12.8-12.8V204.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v134.4c0 6.4 6.4 12.8 12.8 12.8zM496 400H48V80c0-8.84-7.16-16-16-16H16C7.16 64 0 71.16 0 80v336c0 17.67 14.33 32 32 32h464c8.84 0 16-7.16 16-16v-16c0-8.84-7.16-16-16-16zm-387.2-48h22.4c6.4 0 12.8-6.4 12.8-12.8v-70.4c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v70.4c0 6.4 6.4 12.8 12.8 12.8z\" class=\"\"><\/path><\/svg><\/i> <img loading=\"lazy\" decoding=\"async\" width=\"16\" height=\"16\" alt=\"Loading\" src=\"https:\/\/www.berjournal.com\/wp-content\/plugins\/page-views-count\/ajax-loader-2x.gif\" border=0 \/><\/p>\n<div class=\"pvc_clear\"><\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,1],"tags":[],"class_list":["post-864","post","type-post","status-publish","format-standard","hentry","category-makale","category-manuscript"],"a3_pvc":{"activated":true,"total_views":137,"today_views":0},"_links":{"self":[{"href":"https:\/\/www.berjournal.com\/tr\/wp-json\/wp\/v2\/posts\/864","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.berjournal.com\/tr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.berjournal.com\/tr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.berjournal.com\/tr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.berjournal.com\/tr\/wp-json\/wp\/v2\/comments?post=864"}],"version-history":[{"count":0,"href":"https:\/\/www.berjournal.com\/tr\/wp-json\/wp\/v2\/posts\/864\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.berjournal.com\/tr\/wp-json\/wp\/v2\/media?parent=864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.berjournal.com\/tr\/wp-json\/wp\/v2\/categories?post=864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.berjournal.com\/tr\/wp-json\/wp\/v2\/tags?post=864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}