DOES THE SUKUK ISSUANCE IN TURKIYE IMPACT ON ECONOMIC GROWTH?-Reference-Cited by-同舟云学术

DOES THE SUKUK ISSUANCE IN TURKIYE IMPACT ON ECONOMIC GROWTH?

Published:2023-12-30 Issue:3 Volume:32 Page:152-166
ISSN:1304-8899
Container-title:Çukurova Üniversitesi Sosyal Bilimler Enstitüsü Dergisi
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Author:

GÜRBÜZ Aydın¹^ORCID,TATLIYER Emre¹^ORCID,KILIÇ Meltem¹^ORCID

Affiliation:

1. KAHRAMANMARAS SUTCU IMAM UNIVERSITY

Abstract

This study examines the impact of sukuk issued by participation banks and the state on economic growth in Türkiye. In this direction, econometric analysis was conducted between 2013Q1-2022Q4 using Johansen cointegration and VECM Granger causality tests. Our findings show that sukuk issuance and economic growth move together in the long run. Subsequently, according to the long-term coefficient results, the effect of sukuk issued by participation banks on economic growth was found to be positive and significant, while the sukuk issued by the state did not have a significant effect on economic growth. In addition, according to the Granger causality test results, it was determined that there is a one-way causality relationship from GDP to participation banks’ sukuk issuance. Our results show that the issuance of sukuk both contributes to and benefits from economic growth.

Publisher

Cukurova Universitesi Sosyal Bilimler Enstitusu Dergisi

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