Akademik Veri Yönetim Sistemi
Borç Dinamikleri, Finansal İstikrarsızlık ve Büyük Durgunluk, İzmir, Türkiye, 1 - 03 Kasım 2012, ss.1-20
Abstract
The aim of the study is to investigate the relationship between domestic debt and financial
development for the Turkish economy between 2002Q1-2012Q2. The previous panel data
studies for developing countries suggest two main approaches. One view asserts a positive
relationship between them while the other view asserts a negative relationship. Our results
which are based on the time-series analysis support the second view which advocates the
negative relationship between domestic indebtedness and financial development. On the other
hand we criticize the generalization of the results provided by other studies. According to our
view each country has different responses due to its own specific condition.