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The role of institutional quality in the relationship between financial development and economic growth: Emerging markets and middle-income economies

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dc.contributor.authorBayraktar, Yuksel
dc.contributor.authorOzyilmaz, Ayfer
dc.contributor.authorToprak, Metin
dc.contributor.authorOlgun, Mehmet Firat
dc.contributor.authorIsik, Esme
dc.date.accessioned2026-01-04T19:26:30Z
dc.date.issued2023-11-01
dc.description.abstractIn this study, the relationship between economic growth and financial development was analyzed for emerging markets and middle-income economies. The effect of financial development on growth, whether there is institutional quality or not, has also been investigated. In addition, which financial development indicator is more effective for growth has been examined. Six institutional quality indicators and seven financial development indicators were used. According to the Dumitrescu–Hurlin causality test results, there is a causality relationship between all financial development indicators and growth. According to the estimation results, financial development indicators have a positive effect on growth in the presence of institutional quality. However, if institutionalization is not included in the model, the effect of financial development indicators on economic growth is statistically insignificant.
dc.description.urihttps://doi.org/10.1016/j.bir.2023.10.002
dc.description.urihttps://doaj.org/article/cf12aa6d854444318f2535c2c009d911
dc.description.urihttps://avesis.kocaeli.edu.tr/publication/details/f742621b-d16b-4c99-9274-97b539dae9ee/oai
dc.description.urihttps://hdl.handle.net/20.500.12436/5847
dc.identifier.doi10.1016/j.bir.2023.10.002
dc.identifier.endpage1321
dc.identifier.issn2214-8450
dc.identifier.openairedoi_dedup___::5b98e35c9a174fe17d1f87eeec406c2b
dc.identifier.orcid0000-0002-3499-4571
dc.identifier.orcid0000-0001-9201-2508
dc.identifier.orcid0000-0001-9217-6318
dc.identifier.orcid0000-0002-2728-0714
dc.identifier.orcid0000-0002-6179-5746
dc.identifier.scopus2-s2.0-85174462533
dc.identifier.startpage1303
dc.identifier.urihttps://hdl.handle.net/20.500.12597/41199
dc.identifier.volume23
dc.identifier.wos001139840600001
dc.language.isoeng
dc.publisherElsevier BV
dc.relation.ispartofBorsa Istanbul Review
dc.rightsOPEN
dc.subjectCausality
dc.subjectFinancial development
dc.subjectMachine learning
dc.subjectHG1-9999
dc.subjectInstitutional quality
dc.subjectGrowth
dc.subjectFinance
dc.subjectRandom forest
dc.subject.sdg8. Economic growth
dc.subject.sdg1. No poverty
dc.titleThe role of institutional quality in the relationship between financial development and economic growth: Emerging markets and middle-income economies
dc.typeArticle
dspace.entity.typePublication
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