BibTex RIS Cite

The Relationship Between Bank Loans And Economic Growth In Turkey: 1995-2010

Year 2014, Volume 2, Issue 2, 2014, 51 - 60, 31.12.2014
https://doi.org/10.17093/aj.2014.2.2.5000084656

Abstract

In this study, we aim to determine the direction of the relationship between the economic growth and total credits of Turkish Banks. Accordingly, we analyzed this relationship for the period 1995-2010, by using quarterly data analysis. In the analyses as variables, change in the volume of real credits to represent the variable, total credits; and real growth in GDP represents the variable, growth. This study uses Unit Root Test and Gregory-Hansen (GH) Cointegration test as econometric methods. As a result of the analysis and evaluations, it was found that there exists a cointegrating relationship between relevant variables.

References

  • ARESTIS, P. and BASU, SANTONU, 2008. “Role of finance and credit in economic development” International Handbook of Development Economics Volume one, (ed. Amitava Krishna Dutt and Jaime Ros), Edward Elgar: Northampton.
  • ARDIÇ P., DAMAR E.” Financial Sector Deepening and Economic Growth: Evidence from Turkey” http://www.luc.edu/orgs/meea/volume9/pdfs/damar%20ardic%20-%20paper.pdf (12.01.2012)
  • ABU-BADER, S. and ABU-QARN A.S. (2008). “Financial Development and Economic Growth: Empirical Evidence from Six MENA Countries”, Review of Development Economics, 12(4), 803–817.
  • ACARAVCI, A., ÖZTÜRK İ. and KAKILLI S.A. (2007). “Finance-Growth Nexus: Evidence from Turkey”, International Research Journal of Finance and Economics, 11, 30-40.
  • ASLAN, Ö. and KÜÇÜKAKSOY İ. (2006). “Finansal Gelişme ve Ekonomik Büyüme İlişkisi: Türkiye Ekonomisi Üzerine Ekonometrik Bir Uygulama”, Ekonometri ve İstatistik, 4, 12-28.
  • ALTINTAŞ, H. and AYRIÇAY Y., (2010), “Türkiye’de Finansal Gelişme ve Ekonomik Büyüme Arasındaki İlişkinin Sınır Testi Yaklaşımıyla Analizi (1987–2007)”, Anadolu Üniversitesi Sosyal Bilimler Dergisi, Sayı:2, Eskişehir, ss.71–98.
  • ASLAN, Ö. and KORAP L., (2006), “Türkiye’de Finansal Gelişme ve Ekonomik Büyüme İlişkisi”, Muğla Üniversitesi Sosyal Bilimler Enstitüsü Dergisi; Sayı:17, Muğla, ss.1-20.
  • AL-YOUSIF, Y.K. (2002). “Financial Development and Economic Growth: Another Look at the Evidence from Developing Countries”, Review of Financial Economics, 11(2), pp.131-150.
  • ARESTIS, P., DEMETRIADES, P.O. and LUINTEL, K.B. (2001). “Financial Development and Economic Growth: The Role of Stock Markets”, Journal of Money, Credit, and Banking, 33(1), pp.16–41.
  • BITTENCOURT, M. (2012). “Financial Development And Economic Growth In Latin America: Is Schumpeter Right?”, Journal Of Policy Modelling, 34 (3) , 341-355.
  • BLACKBURN, K., HUNG, V.T.Y. (1998) “A Theory Of Growth, Financial Development And Trade”, Economica, 65 (257) , 107-124.
  • CALDERON, C., LIU, L. (2003). “The Direction Of Causality Between Financial Development And Economic Growth”, Journal Of Development Economics, 72(1), 321-334.
  • CEYLAN S. and DURKAYA M. (2010 ) Türkiye’de Kredi Kullanımı - Ekonomik Büyüme İlişkisi Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, Cilt: 24, Sayı: 2, 21, ss.21-35
  • ÇIL YAVUZ N., (2006) “Test for the effect of tourısm receıpts on economıc Growth ın Turkey : structural break and causalıty analysıs”Journal of Doğuş University,7(2), pp.162-171
  • DEMETRIADES, P.O., HUSSEIN K.A. (1996). “Does Financial Development Cause Economic Growth? Time-Series Evidence From 16 Countries”, Journal Of Development Economics, 51(2) , 387- 411.
  • ENISAN, A. A. and OLUFISAYO, A.O. (2009). “Stock Market Development and Economic Growth: Evidence from Seven Sub-Saharan African Countries”, Journal of Economics and Business,61(2), March-April, pp.162-171.
  • Gregory, A. W. and Hansen, B. E. (1996a) Residual-based tests for cointegration in models with regime shifts, Journal of Econometrics, 70, 99–126.
  • Gregory, A. W. and Hansen, B. E. (1996b) Tests for cointegration in models with regime and trend shifts, Oxford Bulletin of Economics and Statistics, 58, 555–9.
  • GREENWOOD, J., SMITH, B.D. (1997). “Financial Markets In Development, And The
  • Development Of Financial Markets”, Journal Of Economics Dynamics & Control, 21(1) , 145-181.
  • HASSAN, M.K., SANCHEZ, B., YU J.S. (2011). “Financial Development And Economic Growth: New Evidence From Panel Data”, The Quarterly Review Of Economics and Finance, 51(1) , 88-104.
  • KANDIR S.Y., İSKENDEROĞLU Ö. and ÖNAL B.Y. (2007), Finansal Gelişme ve Ekonomik Büyüme Arasındaki İlişkinin Araştırılması, Çukurova Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, Sayı:2, ss.311–326.
  • LEVINE, R., KING, R.G. (1993). “Finance, Entrepreneurship and Growth”, Journal Of Monetary Economics, 32, 513-542 http://www.econ.brown.edu/fac/Ross_Levine/Publication/1993_JME_Entrepreneurship.pdf (10.09.2013)
  • LEVINE, R., LOAYZA, N., BECK, T. (2000). “Financial Intermediation and Growth: Causality and Causes”, Journal of Monetary Economics , 46(1) , 31-77.
  • LIANG, Q., TENG, J.Z. (2006). “Financial Development And Economic Growth: Evidence From China”, China Economic Review, 17(4) , 395-411.
  • LUINTEL, K.B., KHAN, M. (1999). “A Quantitative Reassessment Of The Finance–Growth Nexus: Evidence From A Multivariate VAR”, Journal Of Development Economics, 60(2) , 381-405.
  • MÜSLÜMOV,A. and ARAS,G. (2002).“Sermaye Piyasası Gelişmesi ve Ekonomik Büyüme Arasında Nedensellik İlişkisi:OECD Ülkeleri Örneği”,İktisat İşletme Finans, 17(198), pp.90- 100.
  • PERRON, P. (1990). Testing for a unit root in a time series with a changing mean. Journal of Business and Economic Statistics, 8, pp.153-162.
  • SHAHBAZ, M., A., N. and Ali L. (2008). “Stock market Development and Economic Growth: ARDL Causality in Pakistan”, International Research Journal of Finance and Economics, 14, 182-195.
  • WOLDE-RUFAEL, Y. (2009). “Re-Examining The Financial Development And Economic Growth Nexus In Kenya”, Economic Modelling, 26(6) , 1140-1146.
  • ZIVOT, E., ANDREWS, D.W.K., (1992). Further evidence on the great crash, the oil-price shock, and the unit-root hypothesis”, Journal of Business & Economic Statistic, 10, pp.251-270.
  • www.tcmb.gov.tr
  • www.tuik.gov.tr

Türkiye’de Banka Kredileri Ve Büyüme İlişkisi: 1995-2010

Year 2014, Volume 2, Issue 2, 2014, 51 - 60, 31.12.2014
https://doi.org/10.17093/aj.2014.2.2.5000084656

Abstract

Bu çalışmanın amacı, ekonomik büyüme ve Türkiye’deki Bankalarının toplam kredileri arasındaki ilişkinin yönünü belirlemektir. 1995-2010 dönemine ait üçer aylık verilerin kullanıldığı analizlerde, kredi hacmindeki değişim değişkeni, toplam kredileri temsil etmekte ve GSYİH reel büyüme değişkeni de, büyümeyi temsil etmektedir. Söz konusu iki değişken arasındaki uzun dönemli ilişkinin araştırılmasında Gregory-Hansen (GH) Eşbütünleşme testi kullanılmış ve analiz sonuçlarına göre ilgili değişkenler arasında eşbütünleşme ilişkisinin mevcut olduğu tespit edilmiştir.

References

  • ARESTIS, P. and BASU, SANTONU, 2008. “Role of finance and credit in economic development” International Handbook of Development Economics Volume one, (ed. Amitava Krishna Dutt and Jaime Ros), Edward Elgar: Northampton.
  • ARDIÇ P., DAMAR E.” Financial Sector Deepening and Economic Growth: Evidence from Turkey” http://www.luc.edu/orgs/meea/volume9/pdfs/damar%20ardic%20-%20paper.pdf (12.01.2012)
  • ABU-BADER, S. and ABU-QARN A.S. (2008). “Financial Development and Economic Growth: Empirical Evidence from Six MENA Countries”, Review of Development Economics, 12(4), 803–817.
  • ACARAVCI, A., ÖZTÜRK İ. and KAKILLI S.A. (2007). “Finance-Growth Nexus: Evidence from Turkey”, International Research Journal of Finance and Economics, 11, 30-40.
  • ASLAN, Ö. and KÜÇÜKAKSOY İ. (2006). “Finansal Gelişme ve Ekonomik Büyüme İlişkisi: Türkiye Ekonomisi Üzerine Ekonometrik Bir Uygulama”, Ekonometri ve İstatistik, 4, 12-28.
  • ALTINTAŞ, H. and AYRIÇAY Y., (2010), “Türkiye’de Finansal Gelişme ve Ekonomik Büyüme Arasındaki İlişkinin Sınır Testi Yaklaşımıyla Analizi (1987–2007)”, Anadolu Üniversitesi Sosyal Bilimler Dergisi, Sayı:2, Eskişehir, ss.71–98.
  • ASLAN, Ö. and KORAP L., (2006), “Türkiye’de Finansal Gelişme ve Ekonomik Büyüme İlişkisi”, Muğla Üniversitesi Sosyal Bilimler Enstitüsü Dergisi; Sayı:17, Muğla, ss.1-20.
  • AL-YOUSIF, Y.K. (2002). “Financial Development and Economic Growth: Another Look at the Evidence from Developing Countries”, Review of Financial Economics, 11(2), pp.131-150.
  • ARESTIS, P., DEMETRIADES, P.O. and LUINTEL, K.B. (2001). “Financial Development and Economic Growth: The Role of Stock Markets”, Journal of Money, Credit, and Banking, 33(1), pp.16–41.
  • BITTENCOURT, M. (2012). “Financial Development And Economic Growth In Latin America: Is Schumpeter Right?”, Journal Of Policy Modelling, 34 (3) , 341-355.
  • BLACKBURN, K., HUNG, V.T.Y. (1998) “A Theory Of Growth, Financial Development And Trade”, Economica, 65 (257) , 107-124.
  • CALDERON, C., LIU, L. (2003). “The Direction Of Causality Between Financial Development And Economic Growth”, Journal Of Development Economics, 72(1), 321-334.
  • CEYLAN S. and DURKAYA M. (2010 ) Türkiye’de Kredi Kullanımı - Ekonomik Büyüme İlişkisi Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, Cilt: 24, Sayı: 2, 21, ss.21-35
  • ÇIL YAVUZ N., (2006) “Test for the effect of tourısm receıpts on economıc Growth ın Turkey : structural break and causalıty analysıs”Journal of Doğuş University,7(2), pp.162-171
  • DEMETRIADES, P.O., HUSSEIN K.A. (1996). “Does Financial Development Cause Economic Growth? Time-Series Evidence From 16 Countries”, Journal Of Development Economics, 51(2) , 387- 411.
  • ENISAN, A. A. and OLUFISAYO, A.O. (2009). “Stock Market Development and Economic Growth: Evidence from Seven Sub-Saharan African Countries”, Journal of Economics and Business,61(2), March-April, pp.162-171.
  • Gregory, A. W. and Hansen, B. E. (1996a) Residual-based tests for cointegration in models with regime shifts, Journal of Econometrics, 70, 99–126.
  • Gregory, A. W. and Hansen, B. E. (1996b) Tests for cointegration in models with regime and trend shifts, Oxford Bulletin of Economics and Statistics, 58, 555–9.
  • GREENWOOD, J., SMITH, B.D. (1997). “Financial Markets In Development, And The
  • Development Of Financial Markets”, Journal Of Economics Dynamics & Control, 21(1) , 145-181.
  • HASSAN, M.K., SANCHEZ, B., YU J.S. (2011). “Financial Development And Economic Growth: New Evidence From Panel Data”, The Quarterly Review Of Economics and Finance, 51(1) , 88-104.
  • KANDIR S.Y., İSKENDEROĞLU Ö. and ÖNAL B.Y. (2007), Finansal Gelişme ve Ekonomik Büyüme Arasındaki İlişkinin Araştırılması, Çukurova Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, Sayı:2, ss.311–326.
  • LEVINE, R., KING, R.G. (1993). “Finance, Entrepreneurship and Growth”, Journal Of Monetary Economics, 32, 513-542 http://www.econ.brown.edu/fac/Ross_Levine/Publication/1993_JME_Entrepreneurship.pdf (10.09.2013)
  • LEVINE, R., LOAYZA, N., BECK, T. (2000). “Financial Intermediation and Growth: Causality and Causes”, Journal of Monetary Economics , 46(1) , 31-77.
  • LIANG, Q., TENG, J.Z. (2006). “Financial Development And Economic Growth: Evidence From China”, China Economic Review, 17(4) , 395-411.
  • LUINTEL, K.B., KHAN, M. (1999). “A Quantitative Reassessment Of The Finance–Growth Nexus: Evidence From A Multivariate VAR”, Journal Of Development Economics, 60(2) , 381-405.
  • MÜSLÜMOV,A. and ARAS,G. (2002).“Sermaye Piyasası Gelişmesi ve Ekonomik Büyüme Arasında Nedensellik İlişkisi:OECD Ülkeleri Örneği”,İktisat İşletme Finans, 17(198), pp.90- 100.
  • PERRON, P. (1990). Testing for a unit root in a time series with a changing mean. Journal of Business and Economic Statistics, 8, pp.153-162.
  • SHAHBAZ, M., A., N. and Ali L. (2008). “Stock market Development and Economic Growth: ARDL Causality in Pakistan”, International Research Journal of Finance and Economics, 14, 182-195.
  • WOLDE-RUFAEL, Y. (2009). “Re-Examining The Financial Development And Economic Growth Nexus In Kenya”, Economic Modelling, 26(6) , 1140-1146.
  • ZIVOT, E., ANDREWS, D.W.K., (1992). Further evidence on the great crash, the oil-price shock, and the unit-root hypothesis”, Journal of Business & Economic Statistic, 10, pp.251-270.
  • www.tcmb.gov.tr
  • www.tuik.gov.tr
There are 33 citations in total.

Details

Primary Language English
Journal Section Articles
Authors

Mahmut Zortuk

Yunus Çelik

Publication Date December 31, 2014
Submission Date January 2, 2015
Published in Issue Year 2014 Volume 2, Issue 2, 2014

Cite

APA Zortuk, M., & Çelik, Y. (2014). The Relationship Between Bank Loans And Economic Growth In Turkey: 1995-2010. Alphanumeric Journal, 2(2), 51-60. https://doi.org/10.17093/aj.2014.2.2.5000084656

Alphanumeric Journal is hosted on DergiPark, a web based online submission and peer review system powered by TUBİTAK ULAKBIM.

Alphanumeric Journal is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License