The financial convergence hypothesis is an important theory in the economic growth and development literature. This hypothesis argues that financial systems across countries or regions become similar over time and that developing economies converge with developed economies through financial integration. In particular, it is argued that financial markets have become more structurally similar to each other due to globalization, financial liberalization and technological developments. In other words, it is argued that initial financial system differences will diminish over time and low-income countries will converge to the financial structures of developed countries. The aim of this study is to investigate the validity of the financial convergence hypothesis using panel fourier unit root test for G8 countries and Turkey for the years 1990-2021. According to the findings, it is concluded that the financial convergence hypothesis is valid for G8 countries and Turkey.