The link between technological innovation and financial development: Evidence from selected OECD countries

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dc.authoridAVCI, Pınar/0000-0001-9480-8016
dc.contributor.authorÇeştepe, Hamza
dc.contributor.authorÇetin, Murat
dc.contributor.authorAvcı, Pınar
dc.contributor.authorBahtiyar, Bersu
dc.date.accessioned2023-05-06T17:19:36Z
dc.date.available2023-05-06T17:19:36Z
dc.date.issued2022
dc.departmentFakülteler, İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümü
dc.departmentMeslek Yüksekokulları, Şarköy Meslek Yüksekokulu, Muhasebe ve Vergi Bölümü
dc.description.abstractFinancial development is a main goal for developing and developed countries. Therefore, this study aims to investigate the impact of technological innovation on financial development over the period 1990-2018 for 21 OECD countries. The study integrates economic growth, natural resources and financial globalisation into the financial development equation as other explanatory variables. To estimate the long-run coefficients, the Driscoll-Kraay standard errors, panel corrected standard errors and feasible generalised least squares estimators are applied. The Dumitrescu-Hurlin bootstrap causality test is used to examine the causal linkages among the variables. It is found that there exists cointegration between the variables. It is also found that technological innovation, economic growth and financial globalisation positively affect financial development while natural resources decrease it in the long run. The findings reveal that technological innovation and financial development cause each other. The study will present some policy recommendations to accelerate financial sector development in OECD countries.
dc.identifier.doi10.1002/ijfe.2734
dc.identifier.issn1076-9307
dc.identifier.issn1099-1158
dc.identifier.scopus2-s2.0-85141976442
dc.identifier.scopusqualityQ2
dc.identifier.urihttps://doi.org/10.1002/ijfe.2734
dc.identifier.urihttps://hdl.handle.net/20.500.11776/11878
dc.identifier.wosWOS:000882185300001
dc.identifier.wosqualityQ2
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.institutionauthorÇetin, Murat
dc.institutionauthorAvcı, Pınar
dc.language.isoen
dc.publisherWiley
dc.relation.ispartofInternational Journal Of Finance & Economics
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.subjectbootstrap causality analysis
dc.subjectDriscoll-Kraay standard errors approach
dc.subjectfinancial development
dc.subjectOECD countries
dc.subjecttechnological innovation
dc.subjectTesting Slope Homogeneity
dc.subjectLagrange Multiplier Test
dc.subjectEconomic-Growth
dc.subjectRenewable Energy
dc.subjectEnvironmental Degradation
dc.subjectTrade Openness
dc.subjectGlobalization
dc.subjectCointegration
dc.subjectConsumption
dc.subjectRegression
dc.titleThe link between technological innovation and financial development: Evidence from selected OECD countries
dc.typeArticle

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