The Impacts of Trade and Financial Developments on Economic Growth in Turkey: ARDL Approach with Structural Break
MetadataShow full item record
This study examines the impacts of trade openness, financial development, and energy imports on per capita real GDP in Turkey over the 1960–2014 period. The results show that there is evidence of a stable relationship in the presence of a shift in the cointegration vector in 1980 and 1988. Furthermore, the results indicate that trade openness and financial development have a positive impact on per capita real GDP growth whereas energy imports have a negative impact. Consequently, policy-makers should adopt policies that sustain the benefits of trade and financial developments and improve the use of renewable energy to counterbalance the negative effect of energy imports on economic growth.
- Finance & Economics [93 items ]