FORECASTING THE FINANCIAL DEVELOPMENT INDEX: AN AMPIRICAL ANALYSIS IN THE OECD COUNTRIES

Financial development is one of the concepts leading the economic growth of world countries. In order to increase financial development, countries need to have a stable financial system. In order to have an effective financial system, the functioning of banks and capital markets are very important. In this study, financial development levels of OECD countries were measured. This measurement was made by creating an index. The study covers the years 1980-2015. The purpose of this study is that developing the financial development index is to examine the financial situation of the countries and to compare the countries. Topsis method has been used to realize this aim. The financial development scores of the countries were calculated with the help of the Topsis method. As a result of the research is that the most financially developed country is Japan, and the United States and Switzerland are close to that level between 1980 and 201