The Ways of Creating New Paths for Financial Organizations Within the Framework of Spatial Dependency

  • Emel Altın Şırnak University, 73000, Şırnak, Turkey
  • Ali Küçükçolak


Spatial dependence of financial organizations has been examined by economic geography, clustering and institutionalist approaches. In literature, there has been many studies which investigate how spatial dependency occurs and which factors effect spatial dependency but none of them link spatial dependency with dimensions of financial system. Within the framework of spatial dependency, our study focuses on the notions that financial depth, financial effectiveness, financial stability and financial accessibility as financial system dimensions that effect spatial dependence of financial organizations. To test the propositions, we collected data from financial databases for chosen 25 countries endowed with financial centers between the years of 2007-2011. We aim to identify the factors that affect spatial dependencies and the ways of creating new paths for financial centers. The obtained data from databases are analyzed through the STATA statistical packaged software. After the validation of measures a series of panel data analysis was conducted to test the hypotheses and to define how financial system dimensions create a spatial dependency on financial centers. Analyses results highlighted the notions that competitiveness power, capital based financial system, external shocks such as financial crisis and knowledge asymmetry to create new paths for financial centers.
Mar 2, 2018
How to Cite
ALTIN, Emel; KÜÇÜKÇOLAK, Ali. The Ways of Creating New Paths for Financial Organizations Within the Framework of Spatial Dependency. European Journal of Economics and Business Studies, [S.l.], v. 10, n. 1, p. 56-65, mar. 2018. ISSN 2411-9571. Available at: <>. Date accessed: 23 mar. 2018. doi: