Financial Liberalization and Economic Growth in Turkey: A Reexamination

Financial Liberalization, Financial Development and Economic Growth: an Emprical Analysis for Turkey

The objective of the paper is to seek how financial growth affects economic growth in Turkey in the flourishing world. The financial market is changed and developed very rapidly in the last decade. Moreover the change of financial market has also been brought some innovations and new policies. So this study examines whether financial development leads to economic growth in Turkey. The main elem...

International Financial Liberalization and Economic Growth

This paper pulls together existing theory and evidence to assess whether international financial liberalization, by improving the functioning of domestic financial markets and banks, accelerates economic growth. The analysis suggests that the answer is “yes.” First, liberalizing restrictions on international portfolio flows tends to enhance stock market liquidity. In turn, enhanced stock market...

Does financial liberalization spur growth?

We show that equity market liberalizations, on average, lead to a 1% increase in annual real economic growth. The effect is robust to alternative definitions of liberalization and does not reflect variation in the world business cycle. The effect also remains intact when an exogenous measure of growth opportunities is included in the regression. We find that capital account liberalization also ...

Managing Financial Liberalization in Turkey: Consistent Banking Regulation

Liberalization is not a spontaneous process the outcome which should be accepted as inevitable as if it is a destiny. On the contrary, liberalization should be considered as a problem of designing an economic mechanism and finding the most appropriate transition path for the economy, under specific environmental conditions. Within this framework one can distinguish well versus ill designed prog...

Effects of Financial Liberalization on Macroeconomic Volatilities: Applications to Economic Growth, Exchange Rate and Exchange Rate Pass-Through