The relationship between stock market-based financial development and economic growth: The case of Turkey

This research aims to examine the relationship between financial development and economic growth using the case of Turkey. Financial development and economic growth are widely accepted as fundamental elements of economic development, and this relationship has been a significant and long-debated topic in the economic literature. The study seeks to better understand the relationship between financial development and economic growth in Turkey and provide an important reference for shaping future economic policies. The findings aim to offer a beneficial analysis to policymakers, stakeholders in the financial sector, and researchers. For the analysis part of the study, quarterly data covering the period from 1999:1 to 2023:1 were gathered to represent the Turkish economy. The study utilized the ARDL (Autoregressive Distributed Lag) approach for cointegration analysis.