Artikel

Capital market and economic growth nexus: Evidence from Turkey

This study explores the relations between the development level of capital market sub-components, involving mutual/pension funds, corporate bond, stock and government bond markets, and economic growth over the period of 2006:M1 and 2016:M6 in Turkey. We find that there is a long-run cointegrating relationship between capital market development and economic growth and also a unidirectional causality running from capital market development to economic growth. Using ARDL, Markov Switching Regression and Kalman Filter models, we also find that capital market development has asymmetric effects on economic growth where government bond market development is negatively but the aggregated index of other sub-components is positively associated with economic growth.

Sprache
Englisch

Erschienen in
Journal: Central Bank Review (CBR) ; ISSN: 1303-0701 ; Volume: 17 ; Year: 2017 ; Issue: 1 ; Pages: 19-29 ; Amsterdam: Elsevier

Klassifikation
Wirtschaft
Thema
Stock market
Growth
Finance-growth nexus
Borsa istanbul
Turkey

Ereignis
Geistige Schöpfung
(wer)
Coskun, Yener
Seven, Unal
Ertugrul, H. Murat
Ulussever, Talat
Ereignis
Veröffentlichung
(wer)
Elsevier
(wo)
Amsterdam
(wann)
2017

DOI
doi:10.1016/j.cbrev.2017.02.003
Handle
Letzte Aktualisierung
20.09.2024, 08:23 MESZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Artikel

Beteiligte

  • Coskun, Yener
  • Seven, Unal
  • Ertugrul, H. Murat
  • Ulussever, Talat
  • Elsevier

Entstanden

  • 2017

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