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    The Impact of Workers’ Remittances on Financial Market Development: A Case Study for Developing Countries
    (2018) Polat, Burçak
    Although workers’ remittances inflows have grown gradually over the years andshowed a sharp rise after 2000’s in the developing countries; the effect of remittanceson financial development did not receive deserved attention from academic scholars.Yet, the effect of remittances on financial development is very important issue as thefinancial development plays very important role in rising economic growth or reducingpoverty. Thus, main objective of this study is to explore the possible effects of workersremittances on financial market developments by employing dynamic panel datamethod for the period from 2002 to 2014. Our empirical results prove that there is nosignificant correlation between financial developments and remittance inflows. Yet, wehave found that financial developments are positively correlated with investments whilethey are negatively correlated with inflation and economic growth.
  • [ X ]
    Öğe
    The Linkage between Economic Growth and Openness: Does Financial Development Matter?
    (2019) Polat, Burçak
    Purpose: Even though, the impact of trade openness on economic growth overwhelmingly hasbeen analyzed by researchers; the real effect still remains inconclusive and controversial in theliterature. The main objective of this study is therefore to find out whether the financialdevelopment has any role in determining the impact of trade openness on economic growthMethod: The study has employed dynamic panel data of 41 developing countries for the period1995-2014.Findings: this study could not find any effect of trade openness or financial development oneconomic growth. Rather, the study has found that interaction term representing the joint effectof financial development and openness has a negative effect on economic growth. Furthermore,the study has empirically proved that human capital and investments have positive effects oneconomic growth while inflation rate and global financial crisis worsen the economic growth.Discussion: The study has attributed this result to the willingness of investors to transfer theirfinancial capital outflows as trade barriers lowers and financial system gets deeper.