TY  - JOUR
T1  - Kripto Varlık Piyasasında Olası Küresel Krizlerde “Helikopter Para” Kurtarıcı Olabilir Mi?
TT  - Can “Helicopter Money” Be a Savior in Possible Global Crises in the Crypto Asset Market?
AU  - Özkahveci, Esra
AU  - Konak, Fatih
PY  - 2025
DA  - September
Y2  - 2025
DO  - 10.52791/aksarayiibd.1674194
JF  - Aksaray Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
JO  - ASÜ İİBF Dergisi
PB  - Aksaray University
WT  - DergiPark
SN  - 2687-3427
SP  - 181
EP  - 196
VL  - 17
IS  - 3
LA  - tr
AB  - Kripto varlıklar, merkezi olmayan finansal sistemler ve kapsayıcılık gibi yenilikçi faydalar sunarken, aynı zamanda istikrarsızlık riskleri de taşımaktadır. Yüksek volatilite, düzenleyici denetim eksikliği ve yasadışı faaliyet potansiyeli, bu dijital varlıkları yalnızca kendi piyasaları için değil, geleneksel finansal sistemler açısından da tehdit haline getirmektedir. 2008 mali krizinden edinilen tecrübeler, finansal kırılganlıkların domino etkisi yaratarak ekonomik krizlere dönüşme riskini artırabileceğini göstermiştir. Kripto varlıkların spekülatif doğası, ani fiyat dalgalanmalarına yol açarak piyasalarda zincirleme kesintilere neden olabilmektedir. Özellikle, kripto piyasaları ile geleneksel finansal sistemler arasındaki artan bağlantılar, sistemik risklerin büyümesine neden olabilecek bulaşıcı etkiler yaratabilir. Bu tür bir kripto para kaynaklı finansal şokun boyutu ve hızına karşı, geleneksel para politikası araçları yetersiz kalabilir. Ekonomileri istikrara kavuşturmak için alışılmadık araçlar gerekebilir. 2008 krizinde kullanılan niceliksel genişleme (QE) ve helikopter para gibi yöntemler, bu bağlamda öne çıkmaktadır. Helikopter para, vatandaşlara doğrudan nakit transferi sağlayarak talebi hızlı bir şekilde artırmayı ve tüketici güvenini desteklemeyi hedefler. Geleneksel araçların sınırlı etkili olduğu durumlarda, deflasyonu önlemek ve harcamaları teşvik etmek için etkili bir seçenek olabilir. Kripto varlıkların yükselişi, potansiyel bir balon oluşumunu ve bu balonun patlaması durumunda küresel bir krizin olası etkilerini gündeme getirmektedir. 2008 mortgage krizinden alınan dersler, bu tür krizlerin farklı dinamikler barındıracağını ortaya koymaktadır. Bu nedenle, helikopter para gibi yenilikçi araçların etkinliği üzerine derinlemesine bir değerlendirme yapılması gerekmektedir. Bu perspektifte çalışmanın amacı, kripto paraların mali kriz tetikleme potansiyelini ve helikopter paranın böyle bir krize uygun bir yanıt olup olamayacağını teorik bazda araştırmayı amaçlamaktadır.
KW  - 2008 Krizi
KW  - Kripto Para
KW  - Helikopter Para
N2  - While cryptoassets offer innovative benefits such as decentralized financial systems and inclusiveness, they also carry risks of instability. High volatility, lack of regulatory oversight and the potential for illicit activity make these digital assets a threat not only to their markets but also to traditional financial systems. The experience of the 2008 financial crisis has shown that financial fragilities can create a domino effect, increasing the risk of economic crises. The speculative nature of crypto-assets can lead to sudden price fluctuations, causing chain disruptions in markets. In particular, the growing linkages between crypto markets and traditional financial systems can create contagion effects that can lead to the growth of systemic risks. Against the size and speed of such a cryptocurrency-induced financial shock, traditional monetary policy tools may be insufficient. Unconventional tools may be needed to stabilize economies. In the 2008 crisis, methods such as quantitative easing (QE) and helicopter money stand out in this context. Helicopter money aims to quickly boost demand and bolster consumer confidence by providing direct cash transfers to citizens. It can be an effective option to prevent deflation and stimulate spending where traditional tools have limited effectiveness. The rise of crypto-assets brings to the fore the potential formation of a bubble and the possible effects of a global crisis if this bubble bursts. Lessons from the 2008 mortgage crisis suggest that such crises will have different dynamics. Therefore, an in-depth assessment of the effectiveness of innovative instruments such as helicopter money is warranted. In this perspective, this paper aims to theoretically investigate the potential of cryptocurrencies to trigger a financial crisis and whether helicopter money could be an appropriate response to such a crisis.
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UR  - https://doi.org/10.52791/aksarayiibd.1674194
L1  - https://dergipark.org.tr/en/download/article-file/4764796
ER  -