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Abstract


Relationship Between Economic Growth and Financial Development: A Panel Data Analysis
In this study, the relationship between economic growth and financial development was investigated for the panel of Turkey and Shanghai Five countries. The effect of financial development on economic growth for the period 1998-2015 is examined by cointegration test. Empirical analysis results show that economic growth and financial development act together. According to the coefficient estimates, financial growth positively affects economic growth. As a result, policies to strengthen the development of the financial sector contribute to economic growth.

Keywords
Economic Growth, Cointegration, Financial Development


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