APEC Ülkelerinde Finansal Gelişme ve Ekonomik Büyüme İlişkisinin Analizi
Analysis of the Relationship Between Financial Development And Economic Growth in APEC Countries

Summary/Abstract: The relationship between financial development and economic growth in 12 countries (APEC) in Asia-Pacific Economic Cooperation (APEC) between 1990 and 2014 was investigated by panel data analysis in this study. It was used the share of private sector loans in GDP as a financial development indicator and per capita income variables an indicator of economic growth. New generation panel data methods are used considering horizontal section dependency in the analysis. It is seen that there is a cointegration relation between variables as a result of analysis. It was determined that a unit increase in financial growth would increase economic growth by 0.099 units in the overall panel. Furthermore, bidirectional causality relationship between financial development and economic growth has been identified.

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