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Financial Development and Economic Growth: Evindence From Azerbaijan
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NSTL
The impact of financial development on economic growth has always been an important issue. Especially when financial crises occur, the relationship between financial markets and financial crises and economic activities is on the agenda. The main purpose of this study is to determine the relationship between financial development and economic growth in the Azerbaijani economy. For this purpose, VECM model estimation and Granger causality analysis was performed by taking monthly data between 2005-2019. As a result of the analysis, it was revealed that there is a two-way relationship between financial development and economic growth in Azerbaijan.
NSTL
