THE RELATIONSHIP OF FINANCIAL INNOVATION AND ECONOMIC GROWTH: TURKEY CASE
ABSTRACTThe aim of this study is to research the relationship between financial innovation and economic growth during the 1970–2019 period in Turkey’s economy. Here, GDP per capita is used as an indicator of economic growth, GDP ratio of domestic credits to private sector and the ratio of broad/narr...
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Mehmet Akif Ersoy University
2023-08-01
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| Series: | Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi |
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| Online Access: | https://dergipark.org.tr/en/download/article-file/2348378 |
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| author | Gülay Çizgici Akyüz Seval Akbulut Bekar |
| author_facet | Gülay Çizgici Akyüz Seval Akbulut Bekar |
| author_sort | Gülay Çizgici Akyüz |
| collection | DOAJ |
| description | ABSTRACTThe aim of this study is to research the relationship between financial innovation and economic growth during the 1970–2019 period in Turkey’s economy. Here, GDP per capita is used as an indicator of economic growth, GDP ratio of domestic credits to private sector and the ratio of broad/narrow money supply as indicators of financial innovation, and GDP ratio of gross fixed capital formation as an indicator of financial growth. The relationship between financial innovation and economic growth is analyzed by means of Dolado-Lüthkepol and ARDL methods. Findings reveal that financial innovation and development had an impact on growth in Turkey’s economy during the 1970–2019 period. It has been established that the GDP ratio of private sector loans, used as an indicator of financial innovation, and GDP ratio of gross fixed capital formation, used as an indicator of financial development, have a positive effect on growth. On the other hand, it has been determined that the effect of the variable broad money supply/narrow money supply, which is used as an indicator of financial innovation, on growth is negative. Accordingly, it has been determined that financial innovation has positive and negative effects on Turkey’s economy |
| format | Article |
| id | doaj-art-ce6c35844b274ee0b838cc6e76d7f25a |
| institution | Kabale University |
| issn | 2149-1658 |
| language | English |
| publishDate | 2023-08-01 |
| publisher | Mehmet Akif Ersoy University |
| record_format | Article |
| series | Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi |
| spelling | doaj-art-ce6c35844b274ee0b838cc6e76d7f25a2025-01-27T13:23:57ZengMehmet Akif Ersoy UniversityMehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi2149-16582023-08-011021691170910.30798/makuiibf.1097374273THE RELATIONSHIP OF FINANCIAL INNOVATION AND ECONOMIC GROWTH: TURKEY CASEGülay Çizgici Akyüz0https://orcid.org/0000-0002-7594-1994Seval Akbulut Bekar1https://orcid.org/0000-0002-4317-5156TRABZON ÜNİVERSİTESİ, VAKFIKEBİR MESLEK YÜKSEKOKULUTrabzon üniversitesiABSTRACTThe aim of this study is to research the relationship between financial innovation and economic growth during the 1970–2019 period in Turkey’s economy. Here, GDP per capita is used as an indicator of economic growth, GDP ratio of domestic credits to private sector and the ratio of broad/narrow money supply as indicators of financial innovation, and GDP ratio of gross fixed capital formation as an indicator of financial growth. The relationship between financial innovation and economic growth is analyzed by means of Dolado-Lüthkepol and ARDL methods. Findings reveal that financial innovation and development had an impact on growth in Turkey’s economy during the 1970–2019 period. It has been established that the GDP ratio of private sector loans, used as an indicator of financial innovation, and GDP ratio of gross fixed capital formation, used as an indicator of financial development, have a positive effect on growth. On the other hand, it has been determined that the effect of the variable broad money supply/narrow money supply, which is used as an indicator of financial innovation, on growth is negative. Accordingly, it has been determined that financial innovation has positive and negative effects on Turkey’s economyhttps://dergipark.org.tr/en/download/article-file/2348378finansal i̇novasyonekonomik büyümeardlfinansal büyüme.financial innovationeconomic growthardlfinancial development. |
| spellingShingle | Gülay Çizgici Akyüz Seval Akbulut Bekar THE RELATIONSHIP OF FINANCIAL INNOVATION AND ECONOMIC GROWTH: TURKEY CASE Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi finansal i̇novasyon ekonomik büyüme ardl finansal büyüme. financial innovation economic growth ardl financial development. |
| title | THE RELATIONSHIP OF FINANCIAL INNOVATION AND ECONOMIC GROWTH: TURKEY CASE |
| title_full | THE RELATIONSHIP OF FINANCIAL INNOVATION AND ECONOMIC GROWTH: TURKEY CASE |
| title_fullStr | THE RELATIONSHIP OF FINANCIAL INNOVATION AND ECONOMIC GROWTH: TURKEY CASE |
| title_full_unstemmed | THE RELATIONSHIP OF FINANCIAL INNOVATION AND ECONOMIC GROWTH: TURKEY CASE |
| title_short | THE RELATIONSHIP OF FINANCIAL INNOVATION AND ECONOMIC GROWTH: TURKEY CASE |
| title_sort | relationship of financial innovation and economic growth turkey case |
| topic | finansal i̇novasyon ekonomik büyüme ardl finansal büyüme. financial innovation economic growth ardl financial development. |
| url | https://dergipark.org.tr/en/download/article-file/2348378 |
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