Nonlinear Approach to Financial Development – Economic Growth Nexus: Evidence from Developed and Developing Countries
Journal: Hacettepe University Institutional Repository (hacettepe.edu.tr)
Year: 2018

While there is a general consensus among economists on the fundamental role that financial markets play in fostering economic growth, theoretical and empirical work supporting this idea is still very much in progress. This thesis aims to shed light on this issue by providing new empirical evidence using several relevant macroeconomic variables that are expected to affect the finance-growth relationship as state variables. Namely, in this study financial development - economic growth nexus is inv