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Does Financial Development Lead to Employment and Growth?: A Frequency Domain Causality Test for G7

Does Financial Development Lead to Employment and Growth?: A Frequency Domain Causality Test for G7

Murat Gündüz, Yunus Özyıldırım
Copyright: © 2020 |Pages: 20
ISBN13: 9781799810339|ISBN10: 179981033X|EISBN13: 9781799810353
DOI: 10.4018/978-1-7998-1033-9.ch001
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MLA

Gündüz, Murat, and Yunus Özyıldırım. "Does Financial Development Lead to Employment and Growth?: A Frequency Domain Causality Test for G7." Social, Economic, and Environmental Impacts Between Sustainable Financial Systems and Financial Markets, edited by Magdalena Ziolo, IGI Global, 2020, pp. 1-20. https://doi.org/10.4018/978-1-7998-1033-9.ch001

APA

Gündüz, M. & Özyıldırım, Y. (2020). Does Financial Development Lead to Employment and Growth?: A Frequency Domain Causality Test for G7. In M. Ziolo (Ed.), Social, Economic, and Environmental Impacts Between Sustainable Financial Systems and Financial Markets (pp. 1-20). IGI Global. https://doi.org/10.4018/978-1-7998-1033-9.ch001

Chicago

Gündüz, Murat, and Yunus Özyıldırım. "Does Financial Development Lead to Employment and Growth?: A Frequency Domain Causality Test for G7." In Social, Economic, and Environmental Impacts Between Sustainable Financial Systems and Financial Markets, edited by Magdalena Ziolo, 1-20. Hershey, PA: IGI Global, 2020. https://doi.org/10.4018/978-1-7998-1033-9.ch001

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Abstract

Financial systems, which play a major role in the development of the economy, are primarily helping to fund flow and assist in capital increase. In this study, frequency domain causality test, which was developed by Geweke and Hosoya and developed by Breitung and Candelon, was used to analyze the causality relationship by short, medium, and long periods. This test, which provides periodical examination, was investigated to determine the effect of G7 countries on employment and growth of financial institutions and markets index used to calculate financial development index. Among the G7 countries, the development of financial markets and institutions has been affecting employment in Canada (short-medium), Germany (medium-long), Japan (short-medium-long), and the UK (medium-long); in addition, when the effects of economic growth on financial markets and institutions are investigated, Canada (short-medium), France (medium), Italy (medium-long), America (medium-long), Germany (medium-long), Japan (short-medium-long), and UK (short-medium-long) were determined by analysis.

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