RE-EXAMINATION OF THE SUPPLY LEADING HYPOTHESIS FOR TURKEY: A DISAGGREGATED ANALYSIS
نویسندگان
چکیده
In this investigation, the causal link among financial development and economic activity is explored to determine whether supply leading hypothesis (SLH) or demand following (DFH) valid for Turkish economy. For aim, study employs Fourier Toda-Yamamoto causality test of Nazlioglu, Gormus, Soytas (2016) by utilizing annual data covering 1980-2020. To proxy development, Financial Development Index (FDi) IMF its eight sub-indices are chosen. The findings work show that FDi Granger causes per capita income in Turkey. Therefore, one can say SLH holds economy at aggregate level. disaggregated level differs across sub-indices. empirical paper provide significant policy implications agents.
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ژورنال
عنوان ژورنال: Yönetim ve ekonomi ara?t?rmalar? dergisi
سال: 2022
ISSN: ['2148-029X']
DOI: https://doi.org/10.11611/yead.1161268