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Energy consumption is of great importance for the sustainable development of a country in terms of economic, social and environmental aspects. In financial development, it is an important factor for a country's economic growth, stability and prosperity. In the paper, the nexus among energy consumption, financial development, economic growth and trade openness were tested using the ARDL method for the period 1980-2020. In the study, the square of financial development was also included in the analysis, and the nonlinear relationship between energy consumption and financial development was also examined. The findings showed that there is an inverted U-shaped relationship between energy consumption and financial development. Accordingly, initially, financial development increases energy consumption, but after a certain point, energy consumption begins to decrease. In addition, it has been determined that economic growth positively effects energy consumption in both the short and long term, while trade openness negatively effects. Analysis of the relationship between financial development and energy consumption will be an important step to understand the economic, environmental and social effects of energy policies and to build a sustainable energy future. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to explain the relationship between economic growth and financial development indicators such as credit volume, money supply, BİST 100 index, exports and imports in Turkey. In this study Johansen cointgeration, vector error correction model estimation, granger causality test, impulse-response and variance decomposition analysis are undertaken. According to Johansen cointegration analysis, it is found that there is a long-run relationship between the economic growth, BİST 100 index, inflation, export, import, credit volume and monetary aggregate M2. According to Granger causality tests there is one-way causality relation from economic growth to BİST 100 stock market index which is an indicator of capital markets and monetary aggregate M2. In this case bank credit volume is not found to be the reason for the economic growth. Impulse-response analysisshow that the response of economic growth one period later to one standard deviation shock in BİST 100 stock market index. The findings obtained during the period of study show that economic growth in the Turkish economy leads to an increase in demand in financial services and thus the demand-push hypothesis which states that it causes financial expansion is confirmed. [ABSTRACT FROM AUTHOR]

This paper aims to determine the impact of R&D on economic growth by employing a Residual-Based Cointegration test with a Fourier Approximation with annual data from 1990 to 2017 in Turkey. The findings obtained from cointegration test indicate that RD and RGDP are cointegrated. On the other hand the results of error corection model show that there is a bidirectional causality between R&D and economic growth. The Findings are important in terms of revealing the role of R&D in economic growth. [ABSTRACT FROM AUTHOR]

This study investigates the existence of nonlinear relationship between tertiary education and economic growth in the period of the Republic of Turkey, using annual time series data from 1924 to 2009. The econometric approach of this paper is based on the threshold autoregressive (TAR) model. The empirical results show evidence of one threshold value and the graduates of tertiary education have a positive contribution to economic growth above this value. The findings of this study exhibit that the government must be invest much more for the higher education to promote the development of the Turkish economy. [ABSTRACT FROM AUTHOR]

Using quarterly data and two different indicators of the volume of international tourism, namely the international tourist expenditures and the total number of international tourist arrivals, this paper aims to investigate whether tourism has been a vehicle of economic growth in Turkey. We use the ARDL approach to cointegration and error correction model and find evidence of long-run uni-directional causality running from the volume of international tourism (both the tourist expenditures and tourist arrivals) and real exchange rates to economic growth, but not vice versa. The results indicate that the Turkish case supports the tourism-led growth hypothesis. [ABSTRACT FROM AUTHOR]

This paper has empirically examined the relationship between financial development and economic growth in Turkey by using quarterly observation over the period 1987-2007. The model is estimated with the bound testing approach to cointegration with the autoregressive distributed lag (ARDL) framework advanced by Pesaran et al (2001). The results suggest that there is a long-run relationship between real growth, financial development, trade openness and real interest rate. The coefficient of financial development indicates that a 1 percent increase in financial depth increases economic growth by 0.67 percent. While the coefficient of real deposit rate also suggests that a 1 percent rise in real interest rate will increases real output by 0.12 percent in the long run. Although, the coefficient of trade openness is statistically remained insignificant. Since the effects of financial development policy are higher than that of real interest rate which supports the argument that in a developing country like Turkey the availability of funds rather the cost of funds is more important to raise real income. Moreover, this result supports the Mckinnon and Shaw hypothesis that an increase in real interest rate facilitates financial savings and real income. [ABSTRACT FROM AUTHOR]