MULTIFACETED FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH:  BOOTSTRAP PANEL CAUSALITY APPROACH

SEN, Sedef

doi:10.58884/akademik-hassasiyetler.1263224

MULTIFACETED FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: BOOTSTRAP PANEL CAUSALITY APPROACH

Sedef ŞEN (Kastamonu Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümü, Kastamonu, Türkiye)

Akademik Hassasiyetler

3 1

Yıl: 2023 Cilt: 10 Sayı: 21 Sayfa Aralığı: 279 - 318 Metin Dili: İngilizce DOI: 10.58884/akademik-hassasiyetler.1263224 İndeks Tarihi: 17-05-2023

MULTIFACETED FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: BOOTSTRAP PANEL CAUSALITY APPROACH

Öz:

A large body of both theoretical and empirical literature has been conducted to show the relationship between financial development (or called financial depth) and economic growth. However, for Central Europe and Baltic countries, the existing empirical evidence is scarce. This paper revisits whether financial development stimulates economic growth in the context of eleven Central Europe and Baltic countries during the 2000-2019 period. By incorporating broad characteristics of financial institutions (such as banks and insurance companies) and financial markets (including stock markets, bond markets, and derivative markets) into the finance-growth nexus, this paper not only attempts to underline the potential importance of financial depth for economic growth but also tests the hypothesis that financial access, efficiency, and stability promote economic growth or vice versa. This paper applies a panel bootstrap approach to Granger causality testing, which considers cross-sectional dependence and heterogeneity issues. Empirical results show limited support for the supply-leading and demand following hypotheses.

Anahtar Kelime: Financial Development Economic Growth Panel Causality

MULTIFACETED FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: BOOTSTRAP PANEL CAUSALITY APPROACH

Öz:

Anahtar Kelime: Finansal Gelişme İktisadi Büyüme Panel Nedensellik

Belge Türü: Makale Makale Türü: Araştırma Makalesi Erişim Türü: Erişime Açık

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APA	SEN S (2023). MULTIFACETED FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: BOOTSTRAP PANEL CAUSALITY APPROACH. , 279 - 318. 10.58884/akademik-hassasiyetler.1263224
Chicago	SEN Sedef MULTIFACETED FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: BOOTSTRAP PANEL CAUSALITY APPROACH. (2023): 279 - 318. 10.58884/akademik-hassasiyetler.1263224
MLA	SEN Sedef MULTIFACETED FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: BOOTSTRAP PANEL CAUSALITY APPROACH. , 2023, ss.279 - 318. 10.58884/akademik-hassasiyetler.1263224
AMA	SEN S MULTIFACETED FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: BOOTSTRAP PANEL CAUSALITY APPROACH. . 2023; 279 - 318. 10.58884/akademik-hassasiyetler.1263224
Vancouver	SEN S MULTIFACETED FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: BOOTSTRAP PANEL CAUSALITY APPROACH. . 2023; 279 - 318. 10.58884/akademik-hassasiyetler.1263224
IEEE	SEN S "MULTIFACETED FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: BOOTSTRAP PANEL CAUSALITY APPROACH." , ss.279 - 318, 2023. 10.58884/akademik-hassasiyetler.1263224
ISNAD	SEN, Sedef. "MULTIFACETED FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: BOOTSTRAP PANEL CAUSALITY APPROACH". (2023), 279-318. https://doi.org/10.58884/akademik-hassasiyetler.1263224

APA	SEN S (2023). MULTIFACETED FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: BOOTSTRAP PANEL CAUSALITY APPROACH. Akademik Hassasiyetler, 10(21), 279 - 318. 10.58884/akademik-hassasiyetler.1263224
Chicago	SEN Sedef MULTIFACETED FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: BOOTSTRAP PANEL CAUSALITY APPROACH. Akademik Hassasiyetler 10, no.21 (2023): 279 - 318. 10.58884/akademik-hassasiyetler.1263224
MLA	SEN Sedef MULTIFACETED FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: BOOTSTRAP PANEL CAUSALITY APPROACH. Akademik Hassasiyetler, vol.10, no.21, 2023, ss.279 - 318. 10.58884/akademik-hassasiyetler.1263224
AMA	SEN S MULTIFACETED FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: BOOTSTRAP PANEL CAUSALITY APPROACH. Akademik Hassasiyetler. 2023; 10(21): 279 - 318. 10.58884/akademik-hassasiyetler.1263224
Vancouver	SEN S MULTIFACETED FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: BOOTSTRAP PANEL CAUSALITY APPROACH. Akademik Hassasiyetler. 2023; 10(21): 279 - 318. 10.58884/akademik-hassasiyetler.1263224
IEEE	SEN S "MULTIFACETED FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: BOOTSTRAP PANEL CAUSALITY APPROACH." Akademik Hassasiyetler, 10, ss.279 - 318, 2023. 10.58884/akademik-hassasiyetler.1263224
ISNAD	SEN, Sedef. "MULTIFACETED FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: BOOTSTRAP PANEL CAUSALITY APPROACH". Akademik Hassasiyetler 10/21 (2023), 279-318. https://doi.org/10.58884/akademik-hassasiyetler.1263224