FINANCIAL DEVELOPMENT AND HUMAN CAPITAL IN TURKEY: ARDL APPROACH

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dc.contributor.authorSatrovic, Elma
dc.date.accessioned2025-03-06T21:04:29Z
dc.date.available2025-03-06T21:04:29Z
dc.date.issued2017
dc.departmentÇağ Üniversitesi
dc.description.abstractThe impact of human capital on financial development has not been studied quite extensively in up-to-date studies. Hence, this article tries to fill in this gap by exploring the impact of human capital on financial development in Turkey. Human capital is expected to have a positive impact on financial development since it reduces information asymmetry. In addition, it is expected to increase demand for financial services and instruments. This article investigates the long-run and short-run relationship between financial development and human capital in Turkey using ARDL approach. Data are collected over 30-years period (1986-2015). In order to estimate the relationship between these economic terms, financial development is approximated using two proxy variables: broad money (% of GDP) and liquid liabilities (% of GDP). Two proxy variables of financial development are used in order to check for the sensitivity of the results. In addition, the impact of gross capital formation (% of GDP) is controlled. The obtained results indicate a significant positive impact of human capital on broad money (% of GDP) as well as on liquid liabilities (% of GDP) in both, short- and long-run. Control variable is not reported to be significant. Pesaran/Shin/Smith ARDL bounds test confirms the existence of a long-run relationship.
dc.description.abstractThe impact of human capital on financial development has not been studied quite extensively in up-to-date studies. Hence, this article tries to fill in this gap by exploring the impact of human capital on financial development in Turkey. Human capital is expected to have a positive impact on financial development since it reduces information asymmetry. In addition, it is expected to increase demand for financial services and instruments. This article investigates the long-run and short-run relationship between financial development and human capital in Turkey using ARDL approach. Data are collected over 30-years period (1986-2015). In order to estimate the relationship between these economic terms, financial development is approximated using two proxy variables: broad money (% of GDP) and liquid liabilities (% of GDP). Two proxy variables of financial development are used in order to check for the sensitivity of the results. In addition, the impact of gross capital formation (% of GDP) is controlled. The obtained results indicate a significant positive impact of human capital on broad money (% of GDP) as well as on liquid liabilities (% of GDP) in both, short- and long-run. Control variable is not reported to be significant. Pesaran/Shin/Smith ARDL bounds test confirms the existence of a long-run relationship.
dc.identifier.endpage15
dc.identifier.issn2602-3474
dc.identifier.issn2602-3474
dc.identifier.issue2
dc.identifier.startpage1
dc.identifier.urihttps://hdl.handle.net/20.500.12507/2505
dc.identifier.volume1
dc.language.isoen
dc.publisherNevşehir Hacı Bektaş Veli Üniversitesi
dc.relation.ispartofKapadokya Akademik Bakış
dc.relation.publicationcategoryMakale - Ulusal Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_DergiPark_20250215
dc.subjectfinancial development
dc.subjecthuman capital
dc.subjectARDL
dc.subjectbounds test
dc.subjectfinancial development
dc.subjecthuman capital
dc.subjectARDL
dc.subjectbounds test
dc.titleFINANCIAL DEVELOPMENT AND HUMAN CAPITAL IN TURKEY: ARDL APPROACH
dc.title.alternativeFINANCIAL DEVELOPMENT AND HUMAN CAPITAL IN TURKEY: ARDL APPROACH
dc.typeArticle

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