ISLAMIC FINANCE DEVELOPMENT AND ECONOMIC GROWTH: EMPIRICAL EVIDENCE FROM TURKEY


Jobarteh M., Ergeç E. H.

TURKISH JOURNAL OF ISLAMIC ECONOMICS-TUJISE, cilt.4, ss.31-47, 2017 (ESCI İndekslerine Giren Dergi) identifier

  • Cilt numarası: 4 Konu: 1
  • Basım Tarihi: 2017
  • Doi Numarası: 10.15238/tujise.2017.4.1.31-47
  • Dergi Adı: TURKISH JOURNAL OF ISLAMIC ECONOMICS-TUJISE
  • Sayfa Sayıları: ss.31-47

Özet

This work is a study on Islamic finance development and economic growth nexus for Turkey. It employs the econometric methods of unit root, co-integration, and Granger causality in a VECM framework; and the results, which are robust to all measures of Islamic finance development, show a unidirectional short and long run causality from Islamic finance development to economic growth. Hence, it is recommended that policy makers increase their efforts in promoting Islamic finance in Turkey.