TÜRKİYE’DE BANKA KREDİ KANALININ ÖNEMİ ÜZERİNE ETKİ TEPKİ FONKSİYONLARINA DAYALI BİR DEĞERLENDİRME (1990-2006)

Year 2008, Volume: 26 Issue: 2, 81 - 104, 31.12.2008

Vedat Cengiz Mehmet Duman

Abstract

Özellikle 1990 sonrası için literatürde
çeşitli ülke örnekleri üzerine banka kredi kanalının önemini inceleyen çok
sayıda çalışma bulunmaktadır. Banka kredi kanalına göre parasal daralmanın
ardından bankalar kredi arzını kısmakta ve bu da reel ekonomi üzerinde negatif
etkilere yol açmaktadır. Bu çalışmanın amacı 1990-2006 dönemi için Türkiye’de
banka kredi kanalının önemini incelemektir. Çalışmada önce Türkiye’de kredi
kanalının işlemesi için gerekli koşulların geçerliliği ele alınmakta, daha
sonra Bernanke ve Blinder’in (1992) çalışması örnek alınarak VAR modeli
uygulanmakta ve makro değişkenlerin para politikası şokuna tepkileri tahmin
edilmektedir. Sonuçlar Türkiye ekonomisi açısından banka kredi kanalının
işlemesi için gerekli koşulların önemli ölçüde geçerli olduğunu göstermektedir.
Ampirik bulgular ise banka kredi kanalının para politikasının aktarımında önemli
olduğunu göstermektedir.

 

Keywords

Para politikası, parasal aktarım mekanizması, banka

An Assessment on the Importance of Bank Lending Channel in Turkey Based on the Impulse Response Functions (1990-2006)

Abstract

 

Especially after 1990 there is a lot of
study in the literature which has investigated the importance of bank lending
channel for different countries. According to bank lending channel, after a monetary
contraction banks reduce the supply of bank loans and this cause a negative
impact on the real economy. The aim of this study is to investigate the
importance of bank lending channel in Turkey for 1990-2006 period. In the study
first we discuss the validity of the necessary conditions which must be
satisfied for the bank lending channel to exist, than following Bernanke and
Blinder (1992) we apply a VAR model and estimate the responses of the aggregate
variables to the monetary policy shock. The results indicate that the necessery
conditions which must be satisfied for the bank lending channel to exist is in
effective in a large measure for Turkish economy. And the empirical evidence
support that bank lending channel is important in the transmission of monetary
policy.

  

 

Keywords

Monetary policy, monetary transmission mechanism, bank lending channel

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