THE EFFECTS OF FINANCIAL DEVELOPMENT ON INVESTMENT IN TURKEY

Balcilar Mehmet; Ciftcioglu Serhan; Gungor Hasan

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THE EFFECTS OF FINANCIAL DEVELOPMENT ON INVESTMENT IN TURKEY

机译：金融发展对土耳其投资的影响

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Analyzing financial development and investment in Turkey between 1960 and 2008, this paper illustrates how financial development affects investment decisions in a dynamic model of the firm under financial frictions. A composite index is constructed of three alternative financial development measures. The bounds testing approach was used to test for the existence of long-run levels relationships and long-run levels relationships were estimated using the autoregressive distributed lag method. Both short-and long-run causality tests were performed. Results indicate that financial development, budget balance, and total credit to the private sector positively and significantly affect investment.

机译：通过分析土耳其在1960年至2008年之间的金融发展和投资，本文阐述了在金融摩擦下企业的动态模型中金融发展如何影响投资决策。综合指数由三种替代性金融发展指标构成。使用边界测试方法测试长期水平关系的存在，并使用自回归分布滞后方法估算长期水平关系。进行了短期和长期因果关系测试。结果表明，金融发展，预算平衡和对私营部门的信贷总额对投资产生了积极而显着的影响。

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来源
《The Singapore economic review》 |2016年第4期|1650002.1-1650002.21|共21页
作者
Balcilar Mehmet; Ciftcioglu Serhan; Gungor Hasan;
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作者单位

Eastern Mediterranean Univ Gazimagusa, Dept Econ, TR-10 Mersin, Turkey|Univ Pretoria, Dept Econ, ZA-0002 Pretoria, South Africa;

Eastern Mediterranean Univ Gazimagusa, Dept Business, TR-10 Mersin, Turkey;

Eastern Mediterranean Univ Gazimagusa, Dept Econ, TR-10 Mersin, Turkey;

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原文格式 PDF
正文语种 eng
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关键词
Investment; financial development; financial frictions; bounds testing approach; ARDL;

机译：投资;金融发展;金融摩擦;界限测试方法;ARDL;

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THE EFFECTS OF FINANCIAL DEVELOPMENT ON INVESTMENT IN TURKEY

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