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...

Long-run cross-country price data exhibit a puzzle. Today, richer countries exhibit higher price levels than poorer countries, a stylized fact usually attributed to the “BalassaSamuelson” effect. But looking back fifty years, or more, this effect virtually disappears from the data. What is often assumed to be a universal property is actually quite specific to recent times. What might explain th...

The Solow-Swan growth model predicts that growth should be uncorrelated with the ratio of national investment to GDP. If capital markets are open, the model predicts instantaneous convergence of GDP per capita across countries. Convergence is achieved by capital flows from rich to poor countries and a consequence of these flows is that the ratio of national savings to GDP in each country should...

This paper investigates both aggregate and distributional impacts of the trade integration of China, India, and Central and Eastern Europe in a quantitative multi-country multi-sector model, comparing outcomes with and without factor market frictions. Under perfect withincountry factor mobility, the gains to the rest of the world from trade integration of emerging giants are 0.37%, ranging from...

A substantial part of the economic growth literature suggests that historically, geographic features such as decreasing trade costs have not only enhanced output, but may also be associated with rapid urbanization and ’growth take-offs’. However, this literature lacks an analytical motivation for lower transport costs, and assumes their decrease to obtain exogenously and at no cost: It thus doe...

The empirical relationship between capital controls and the financial development of credit and equity markets is examined. We extend the literature on this subject along a number of dimensions. Specifically, we (1) investigate a substantially broader set of proxy measures of financial development; (2) create and utilize a new index based on the IMF measures of exchange restrictions that incorp...

For spatial data with a suffi ciently long time dimension, the concept of global cointegration has been recently included in the econometrics research agenda. Global cointegration arises when non-stationary time series are cointegrated both within and between spatial units. In this paper, we analyze the role of globally cointegrated variable relationships using German regional data (NUTS 1 leve...

We investigated the contributions and evolution of organic aerosol (OA) sources at Marseille-Longchamp supersite (MRS-LCP, France) based on Time-of-flight Aerosol Chemical Speciation Monitor (ToF-ACSM) measurements non-refractory PM1 over a fourteen-month period (1 February – 3 April 2018). The OA source apportionment was performed by positive matrix factorization (PMF) using novel “rolling win...

Introduction Most mental illness of adult life begin in late adolescence, affecting young people when they require transition to services. In <18 years old patients is more difficult establish a definitive diagnosis, so diagnoses are often unstable and temporary. patients, understanding diagnostic stability may help clarifying the course, developmental changes, long-term prognoses psychiatri...

[This corrects the article on p. 329 in vol. 8, PMID: 28293235.].