Regional Economic Growth and Financial Innovation: Perspectives from the Turkish Banking Sector

Authors : Aynur KARAÇOBAN, Ömür SALTIK, Süleyman DEĞİRMEN

Pages : 47-84

Doi:10.17233/sosyoekonomi.2023.02.03

View : 19 | Download : 16

Publication Date : 2023-04-28

Article Type : Research Paper

Abstract :The study aims to reveal the relationship between financial innovation in the banking sector and economic growth for Statistical Region Units Level-1 insert ignore into journalissuearticles values(12 regions); and Türkiye\`s 81 provinces. In the study, annual data from 2010 to 2021 was employed. The Arellano-Bond GMM first differences and Pooled Data approach were used as models. The coefficient of the variable measuring financial innovation in the banking industry was significant and positive for the regions and provinces. The findings suggest that the banking sector\`s innovative goods and services, led by technical advancements and globalisation, contribute positively to the economies of certain Turkish regions and provinces. These empirical validate Schumpeter\`s theory and ideas of endogenous growth.
Keywords : Finansal İnovasyon, Bankacılık Sektörü, Bölgeler İller, Dinamik Panel GMM Yöntemi, Havuzlanmış Veri Yöntemi