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A Micro Based Study on Bank Credit and Economic Growth: Manufacturing Sub-Sectors Analysis

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  • Hacievliyagil Nuri

    (PhD, Inonu University, Turkey)

  • Eksi Ibrahim Halil

    (PhD, Assoc. Prof. Gaziantep University, Turkey)

Abstract

This study examines the relationship between bank credits and performance and growth of manufacturing sub-sectors. Industrial Production Index was used for a different approach as a dependent variable. Indications of the autoregressive distributed lag (ARDL) bound co-integration test support the theory that bank credits are more effective than loan rates on industrial production of sub-sectors. Moreover, the increase in bank credit leads to the rise of industrial production in all the sub-sectors, except Machinery. According to the Toda Yomamato causality test results, there are different degrees of causalities in means of the importance of bank loans for industrial production. On the other hand, in all sub-sectors except machinery and chemical sub-sectors, causality relations were observed at different grades beginning from loan interest rates to industrial production. As a result, this study concludes with the evidence of supply leading hypothesis via the financial sector leads and causes economic growth.

Suggested Citation

  • Hacievliyagil Nuri & Eksi Ibrahim Halil, 2019. "A Micro Based Study on Bank Credit and Economic Growth: Manufacturing Sub-Sectors Analysis," South East European Journal of Economics and Business, Sciendo, vol. 14(1), pages 72-91, June.
    • Handle: RePEc:vrs:seejeb:v:14:y:2019:i:1:p:72-91:n:6
    DOI: 10.2478/jeb-2019-0006
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    More about this item

    Keywords

    Economic Growth; Bank Credit; Manufacturing Sector;
    All these keywords.

    JEL classification:

    • E59 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Other
    • L69 - Industrial Organization - - Industry Studies: Manufacturing - - - Other
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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