Financial Development and Economic Growth: Time Series Evidence from Turkey
This paper attempts to explore the relationship between financial development and economic growth for Turkey over the period 1968-2007. For this purpose, we used an endogenous break unit root test as suggested by Zivot and Andrews (1992) and the Gregory- Hansen (1996) cointegration technique. The empirical results showed that there is a long-run relationship between financial development and economic growth.
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