Financial Development and Investment Amount Nexus: A Case Study of Turkey
Vol. 6 No. 3 (2016), Articles
Vol. 6 No. 3 (2016)

Financial Development and Investment Amount Nexus: A Case Study of Turkey

https://doi.org/10.18488/journal.aefr/2016.6.3/102.3.127.134
Banu Demirhan
Afyon Vocational School, Department of Economics and Administrative Programs, Afyon Kocatepe University, Turkey
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Keywords

Financial development, Capital stock, Toda-Yamamoto method, Investment, Banking sector, Causality.

How to Cite

Demirhan, B. . (2016). Financial Development and Investment Amount Nexus: A Case Study of Turkey. Asian Economic and Financial Review, 6(3), 127–134. https://doi.org/10.18488/journal.aefr/2016.6.3/102.3.127.134
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Abstract

The paper examines the relationship between financial development and investment amount in Turkey over the period of 1998:01-2015:02 by using Toda-Yamamoto method. Banking sector and stock market measures of financial development are used in the econometric analysis. Our findings suggest that there is uni-directional causality from stock market development to investment amount. Moreover, empirical findings present that there is uni-directional causality from investment amount to banking sector development and bi-directional causality between banking sector development and stock market development.

https://doi.org/10.18488/journal.aefr/2016.6.3/102.3.127.134
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