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...

Financial liberalization has been a controversial issue, as empirical evidence for growth enhancing effects is mixed. Here, we find sizable welfare gains from liberalization (cost to repression), though the gain in economic growth is ambiguous. We take the view that financial liberalization is a government policy that alters the path of financial deepening, while financial deepening is endogeno...

Abstract Financial crises and currency instabilities within developing and emerging economies during the last decade had a tremendous impact on the economic performance and increased vulnerability of economies against domestic and foreign shocks. The timing of capital liberalization is one of the significant debates among other issues related to currency instability, and it would be more conven...

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...

abstract financial crises and currency instabilities within developing and emerging economies during the last decade had a tremendous impact on the economic performance and increased vulnerability of economies against domestic and foreign shocks. the timing of capital liberalization is one of the significant debates among other issues related to currency instability, and it would be more conven...

The main objective of this paper is to review the theoretical issues and available empirical evidence on capital account liberalization. In addition to being of interest in its own right, capital account liberalizations is important to the debate on the New International Financial Architecture (NIFA) and to the post-Doha agenda at the World Trade Organization (WTO) in relation to foreign direct...