The effects of financial development on the real sector in Turkish economy

Abstract

The aim of this chapter is to test whether the developments in the financial markets give rise to crowding out effect on the real sector over the period of 2002Q1-2017Q4. The results support that financial development does not exclude the real sector, whereas it has a smaller effect on the real sector. © Peter Lang GmbH Internationaler Verlag der Wissenschaften Berlin 2019. All rights reserved.