Analysis of Impacts of Financial Development and FDI’s on Economic Growth in Türkiye with Asymmetric Cointegration and Causality Estimation

This paper analyzes the influence of financial development on economic growth in Türkiye, specifically focusing on the roles of foreign direct investment (FDI), trade openness (TRADE), and nominal exchange rate (ER) from 2005 to 2023. In this study, the Nonlinear Autoregressive Distributed Lagged (NARDL) approach was used to identify the effects of independent variables on GDP growth, and the Toda-Yamamato causality approach was used to determine the direction of the relationship between variabl