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Parasal Aktarım Mekanizması Kanalı Olarak Kredi Kanalının Bibliyometrik Analiz İle Bilimsel Haritalaması

Year 2023, Volume: 8 Issue: 4, 404 - 431, 20.12.2023

Abstract

Parasal aktarım mekanizması kanallarının ülkeleri etkilemesi, ülkelerin içinde bulundukları ekonomik koşullara göre farklı olmaktadır. Kredi kanalının finansal piyasaların gelişmişlik derecesine göre gelişmiş ve gelişmekte olan ülkeleri etkileme derecesi farklıdır. Kredi kanalının reel ekonomi üzerindeki etkileri dikkate alındığında kredi kanalının farklı dönemlerde ülke ekonomilerini etkileme düzeyi de farklı olmaktadır. Dolayısıyla bu kanalın etkinliği araştırmacılar tarafından ele alınmaktadır. Mevcut çalışmalardan farklı olarak bu çalışmanın amacı, parasal aktarım mekanizması kanalı konusundaki mevcut araştırma durumunu bilimsel haritalama yöntemlerinden biri olan bibliyometrik analizlerle ortaya koymak, gelecekteki araştırma alanlarının belirlenmesi ve planlanmasına katkı sunmaktır. Bibliyometrik analiz sonucunda parasal aktarım mekanizması araçlarından kredi kanalı konusunda çalışan dünyadaki en etkili yazarlar, bu yazarların kurumları, yıllık bilimsel yayın üretim miktarları, atıf sayıları, gerçekleştirilen araştırmaların kavramsal yapısı, entelektüel gelişim durumu, alanda ortaya çıkan güncel temalar ve araştırma işbirliklerinin durumu görsel haritalarla etkili bir şekilde ortaya konulmuştur. Analiz sonuçları bilimsel açıdan konunun gelişme yönünü sistematik açıdan inceleyerek ortaya koyduğundan ilgili literatüre önemli katkılar sağlamaktadır. Araştırma sonuçları makro açıdan merkez bankası, bankalar ve politika yapıcılar açısından da güncel gelişmelerin durumu ve yönü göstermekte, mikro açıdan ise işletmelerin üretim, finans, pazarlama gibi gerek departman gerekse de üst yönetim kararlarına katkı sağlayacak projeksiyonlara sahiptir. Kredi kanalının kullanılması sonucunda alınacak kararlar tüketicilerin günlük yaşam ve tüketim davranışları üzerinde olumlu veya olumsuz önemli etkilere sahip olacaktır.

Supporting Institution

Bursa Uludağ Üniversitesi Bilimsel Araştırma Projeleri (BAP) birimi

Project Number

SHIZ-2023-1531

Thanks

Bu çalışma, Bursa Uludağ Üniversitesi Bilimsel Araştırma Projeleri (BAP) birimi tarafından SHIZ-2023-1531 kodlu BAP Hızlı Destek Projesi tarafından desteklenmiştir. Destekleri için birimimize teşekkür ederim.

References

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  • Altunbas Y, Gambacorta L, Marques-Ibanez D (2010). Bank risk and monetary policy. Journal of Financial Stability. 6(3): 121-129. https://doi.org/10.1016/j.jfs.2009.07.001
  • Altunbas Y, Gambacorta L, Marques-Ibanez D (2009). Securitisation and the bank lending channel. European Economic Review. 53(8):996-1009. https://doi.org/10.1016/j.euroecorev
  • Arabacı Ö, Filiz Baştürk M (2013). Türkiye’de Banka Kredi Kanalı: 2001-2008 Dönemi. Gaziantep University Journal of Social Sciences, 12(3): 567-587.
  • Aria M, Cuccurullo C (2017). Bibliometrix: An R-tool for Comprehensive Science Mapping Analysis, Journal of Informetrics, 11(4): 959-975. https://doi.org/10.1016/j.joi.2017.08.007
  • Aria M, Misuraca, M Spano M (2020). Mapping the evolution of social research and data science on 30 years of Social Indicators Research. Social Indicators Research, 149(3): 803-831. https://doi.org/10.1007/s11205-020-02281-3
  • Bangura M, Ngombu A, Pessima S, Kargbo, I (2021). Bank Lending Channel of Monetary Policy: Dynamic Panel Data Evidence from Sierra Leone. Modern Economy, 12(5):1035-1058. DOI: 10.4236/me.2021.125053
  • Bernank, BS, Blinder AS (1988). Credit, Money, and Aggregate Demand. The American Economic Review, 78(2): 435-439.
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  • Dajcman S, Tica J (2017). The broad credit and bank capital channels of monetary policy transmission in the core and peripheral Euro Area. Zbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu, 35(2): 249-275. https://doi.org/10.18045/zbefri.2017.2.249
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  • Gambacorta, L (2008). How do banks set interest rates? European Economic Review 52(5): 792-819. https://doi.org/10.1016/j.euroecorev.2007.06.022
  • Gambacorta L, Mistrulli P (2004). Does bank capital affect lending behavior? Journal of Financial Intermediation (13)4: 436-457. https://doi.org/10.1016/j.jfi.2004.06.001
  • Gambacorta L, Mistrulli PE (2014). Bank Heterogeneity and Interest Rate Setting: What Lessons Have We Learned since Lehman Brothers? Journal of Money Credit and Banking (46)4: 753-778. https://doi.org/10.1111/jmcb.12124
  • Gambacorta L, Rossi C (2010). Modelling bank lending in the euro area: A nonlinear approach. Applied Financial Economics, 20(14): 1099-1112. DOI: 10.1080/09603101003781430
  • Gambacorta L, Marques-Ibanez D (2011). The bank lending channel: Lessons from the crisis. Economic Policy 66(?): 135-182. https://doi.org/10.1111/j.1468-0327.2011.00261
  • Gambacorta L, Signoretti FM (2014). Should monetary policy lean against the wind? An analysis based on a DSGE model with banking. Journal of Economic Dynamics & Control ?(43): 146-174. https://doi.org/10.1016/j.jedc.2014.01.016
  • Gerlach S, Smets F (1995). The monetary transmission mechanism: evidence from the G-7 countries. Working Paper, 1-43. ET, 02.08.2023, Erişim: https://www.zbw.eu/econis-archiv/bitstream/11159/ 567036/1/EBP08603362X_0.pdf (doi:10.2139/ssrn.868427
  • Gertler M, Gilchrist S (1993). The Role of Credit Market Imperfections in the Monetary Transmission Mechanism: Arguments and Evidence. The Scandinavian Journal of Economics, 95(1): 43-64. DOI: 10.2307/3440134
  • Gonzalez, R (2019). Monetary Policy Surprises and Employment: Evidence from Matched Bank-Firm Loan Data on the Bank Lending-Channel, Working Paper Series, Brasília, Working Paper 518, 1-47. ET, 01.08.2023, Erişim: https://www.bcb.gov.br/pec/wps/ingl/wps518.pdf
  • Günbegi F, Karahan Ö (2021). Türkiye’de Banka Kredi Kanalının Etkinliği: Effectiveness of Bank Credit Channel in Turkey. Journal of Emerging Economies & Policy, 6(2): 170-178.
  • Halvorsen J I, Jacobsen D H (2016). The bank-lending channel empirically revisited. Journal of financial stability, ?(27):95-105. https://doi.org/10.1016/j.jfs.2016.10.004
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Scientific Mapping of the Credit Channel as a Monetary Transfer Mechanism With Bibliometric Analysis

Year 2023, Volume: 8 Issue: 4, 404 - 431, 20.12.2023

Abstract

The effect of monetary transmission mechanism channels on countries differs according to the economic conditions of the countries. The degree to which the credit channel affects developed and developing countries is different according to the level of development of financial markets. Considering the effects of the credit channel on the real economy, the level of influence of the credit channel on the country's economies in different periods is also different. Therefore, the effectiveness of this channel is discussed by researchers. Unlike existing studies, the aim of this study is to reveal the current research situation on the monetary transmission mechanism channel with bibliometric analysis, which is one of the scientific mapping methods, and to contribute to the determination and planning of future research areas. As a result of bibliometric analysis, the most influential authors in the world working on the credit channel, which is one of the monetary transmission mechanism tools, the institutions of these authors, the annual scientific publication production amount, the number of citations, the conceptual structure of the research carried out, the intellectual development status, the current themes in the field and the status of research collaborations are effective with visual maps.
It is seen that the USA is far ahead in terms of the number of publications among the leading countries in which publications are made on the subject of credit channel, which is one of the instruments of monetary transmission mechanism, followed by China and England. The list of most productive institutions includes universities, as well as institutions such as the International Monetary Fund (IMF) and the American central bank. While it is seen that the USA is far ahead of other countries in the total number of citations received by the publications, the number of citations received by the authors from Turkey is 150, and Turkey is in the 12th place in the ranking of the most productive countries.
It can be stated that the most frequently used keywords in the literature on the subject of credit channel, which is one of the monetary transmission mechanism tools, are the words transfer, monetary policy and credit, and these keywords also constitute the main theme of the relevant literature.
When the intellectual cooperation is examined, it is seen that there are certain cliques among the authors and that there are bilateral and triple collaborations especially among certain authors. When the cooperation between countries is examined, it is seen that especially the cooperation from the USA is made with Europe and the Far East. When the collaborations of the authors from Turkey are examined, it is seen that the cooperation from Turkey to other countries is 5, while the cooperation from other countries to the authors in Turkey is 14. In this sense, it can be suggested that Turkish authors be more active and seek cooperation potentials.
When the changes in the conceptual structure are examined, it can be stated that the keywords especially investment, limitations and determinants are important themes, which are explained as the motor themes on the credit channel, one of the monetary transmission mechanism tools. As the main themes, it is seen that the themes such as transmission, monetary policy and credit occupy a large place among the main themes and are the themes that concern different research areas of the field. To these basic themes, one group of themes such as shocks, intermediary costs and interest rates can be added, and another group of themes such as credit channel, interest channel and demand. Niche themes consist of themes such as capital, innovation, house prices, time, financial crises, China, economy and government. Emerging or isolated themes, on the other hand, consist of themes such as unit root, flow, triad, empirical evidence, economic growth, and profitability.
This study was carried out by analyzing only the publications in the WOS database, which were obtained using the filters specified in the method section. It can be suggested that future research should be carried out using foreign databases such as Scopus and national databases such as Dergipark. In this way, the direction of development in the field can be seen from a wider perspective. Many qualitative and quantitative researches can be done in the future by using trending topics and images on the thematic map.

Project Number

SHIZ-2023-1531

References

  • Altunbas Y, Fazylov O, Molyneux P (2002). Evidence on the bank lending channel in Europe. Journal of Banking & Finance 26(11): 2093-2110. https://doi.org/10.1016/S0378-4266(02)00201-7
  • Altunbas Y, Gambacorta L, Marques-Ibanez D (2010). Bank risk and monetary policy. Journal of Financial Stability. 6(3): 121-129. https://doi.org/10.1016/j.jfs.2009.07.001
  • Altunbas Y, Gambacorta L, Marques-Ibanez D (2009). Securitisation and the bank lending channel. European Economic Review. 53(8):996-1009. https://doi.org/10.1016/j.euroecorev
  • Arabacı Ö, Filiz Baştürk M (2013). Türkiye’de Banka Kredi Kanalı: 2001-2008 Dönemi. Gaziantep University Journal of Social Sciences, 12(3): 567-587.
  • Aria M, Cuccurullo C (2017). Bibliometrix: An R-tool for Comprehensive Science Mapping Analysis, Journal of Informetrics, 11(4): 959-975. https://doi.org/10.1016/j.joi.2017.08.007
  • Aria M, Misuraca, M Spano M (2020). Mapping the evolution of social research and data science on 30 years of Social Indicators Research. Social Indicators Research, 149(3): 803-831. https://doi.org/10.1007/s11205-020-02281-3
  • Bangura M, Ngombu A, Pessima S, Kargbo, I (2021). Bank Lending Channel of Monetary Policy: Dynamic Panel Data Evidence from Sierra Leone. Modern Economy, 12(5):1035-1058. DOI: 10.4236/me.2021.125053
  • Bernank, BS, Blinder AS (1988). Credit, Money, and Aggregate Demand. The American Economic Review, 78(2): 435-439.
  • Bernanke BS, Blinder AS (1992). The Federal Funds Rate and the Channels of Monetary Transmission. The American Economic Review, 82(4): 901-921.
  • Bernanke BS, Gertler M (1995). Inside the Black Box: The Credit Channel of Monetary Policy Transmission, Journal of Economic Perspectives, 9(4): 27-48. DOI: 10.1257/jep.9.4.27
  • Brei M, Gambacorta L, Von Peter G (2013). Rescue packages and bank lending. Journal of Banking & Finance. (37)2: 490-505. https://doi.org/10.1016/j.jbankfin.2012.09.010
  • Callon M, Courtial JP, Laville F (1991). Co-word analysis as a tool for describing the network of interactions between basic and technological research: The case of polymer chemsitry. Scientometrics, 22, 155-205.
  • Cengiz, V (2009). Parasal Aktarım Mekanizması İşleyişi ve Ampirik Bulgular. Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, (33): 225-247.
  • Dajcman S, Tica J (2017). The broad credit and bank capital channels of monetary policy transmission in the core and peripheral Euro Area. Zbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu, 35(2): 249-275. https://doi.org/10.18045/zbefri.2017.2.249
  • De Bondt, GJ (1999a). Credit channels in Europe: a cross-country investigation. PSL Quarterly Review, 52(210): 295-326.
  • De Bondt, GJ (1999b). Credit channels and consumption in Europe: empirical evidence. BIS WORKING PAPERS, No. 69, Bank For International Settlements, Monetary and Economic Department, Basel, Switzerland, June, 1-26, ET. 01.08.2023, Erişim: https://www.bis.org/publ/work69.pdf
  • De Bondt, GJ (2002). Retail bank interest rate pass-through: new evidence at the euro area level, ECB Working Paper, No. 136, European Central Bank (ECB), Frankfurt M., 1-42.
  • Deng X, Liu L (2014). The bank lending channel: Evidence from Australia. Australasian Accounting, Business and Finance Journal, 8(2): 71-87.
  • Disyatat, P (2011). The bank lending channel revisited. Journal of money, Credit and Banking, 43(4): 711-734. Ehrmann M, Gambacorta L, Martinez-Pages J, Sevestre P, Worms A (2003). The effects of monetary policy in the euro area. Oxford Review of Economic Policy 19(1): 58-72. https://doi.org/10.1093/oxrep/19.1.58
  • Erdoğan S, Beşballı SG (2009). Türkiye’de Banka Kredileri Kanalının İşleyişi Üzerine Ampirik Bir Analiz. Doğuş Üniversitesi Dergisi, 11(1): 28-41.
  • Fama, E F (1980). Agency problems and the theory of the firm. Journal of political economy, 88(2): 288-307.
  • Farajnezhad M, Suresh ALR, Ramakrishnan L (2019). Effectiveness of Credit Channel of Monetary Policy Transmission Mechanism on Commercial Banks in Malaysia. International Journal of Recent Technology and Engineering, 8(1): 913-926.
  • Gambacorta, L (2003). Asymmetric bank lending channels and ECB monetary policy. Economic Modelling (20)1: 25-46. https://doi.org/10.1016/S0264-9993(01)00084-0
  • Gambacorta, L (2005). Inside the bank lending channel. European Economic Review (49)7: 1737-1759. https://doi.org/10.1016/j.euroecorev.2004.05.004
  • Gambacorta, L (2008). How do banks set interest rates? European Economic Review 52(5): 792-819. https://doi.org/10.1016/j.euroecorev.2007.06.022
  • Gambacorta L, Mistrulli P (2004). Does bank capital affect lending behavior? Journal of Financial Intermediation (13)4: 436-457. https://doi.org/10.1016/j.jfi.2004.06.001
  • Gambacorta L, Mistrulli PE (2014). Bank Heterogeneity and Interest Rate Setting: What Lessons Have We Learned since Lehman Brothers? Journal of Money Credit and Banking (46)4: 753-778. https://doi.org/10.1111/jmcb.12124
  • Gambacorta L, Rossi C (2010). Modelling bank lending in the euro area: A nonlinear approach. Applied Financial Economics, 20(14): 1099-1112. DOI: 10.1080/09603101003781430
  • Gambacorta L, Marques-Ibanez D (2011). The bank lending channel: Lessons from the crisis. Economic Policy 66(?): 135-182. https://doi.org/10.1111/j.1468-0327.2011.00261
  • Gambacorta L, Signoretti FM (2014). Should monetary policy lean against the wind? An analysis based on a DSGE model with banking. Journal of Economic Dynamics & Control ?(43): 146-174. https://doi.org/10.1016/j.jedc.2014.01.016
  • Gerlach S, Smets F (1995). The monetary transmission mechanism: evidence from the G-7 countries. Working Paper, 1-43. ET, 02.08.2023, Erişim: https://www.zbw.eu/econis-archiv/bitstream/11159/ 567036/1/EBP08603362X_0.pdf (doi:10.2139/ssrn.868427
  • Gertler M, Gilchrist S (1993). The Role of Credit Market Imperfections in the Monetary Transmission Mechanism: Arguments and Evidence. The Scandinavian Journal of Economics, 95(1): 43-64. DOI: 10.2307/3440134
  • Gonzalez, R (2019). Monetary Policy Surprises and Employment: Evidence from Matched Bank-Firm Loan Data on the Bank Lending-Channel, Working Paper Series, Brasília, Working Paper 518, 1-47. ET, 01.08.2023, Erişim: https://www.bcb.gov.br/pec/wps/ingl/wps518.pdf
  • Günbegi F, Karahan Ö (2021). Türkiye’de Banka Kredi Kanalının Etkinliği: Effectiveness of Bank Credit Channel in Turkey. Journal of Emerging Economies & Policy, 6(2): 170-178.
  • Halvorsen J I, Jacobsen D H (2016). The bank-lending channel empirically revisited. Journal of financial stability, ?(27):95-105. https://doi.org/10.1016/j.jfs.2016.10.004
  • Holtemoller, O (2003). Further VAR evidence for the effectiveness of a credit channel in Germany. Applied Economics Quarterly 49 (4): 359–381.
  • Hosono, K (2006). The Transmission Mechanism of Monetary Policy in Japan: Evidence from Banks Balance Sheets. Journal of the Japanese and International Economies, ?(20): 380-405. https://doi.org/10.1016/j.jjie.2005.07.003
  • Hubbard, RG (1995). Is There a “Credit Channel” for Monetary Policy? Is there a “Credit Channel” for Monetary Policy?, Federal Reserve Bank of St. Louis Review, 77(3): 63-77. DOI: 10.20955/r.77.63-77
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There are 60 citations in total.

Details

Primary Language Turkish
Subjects Consumption and Everyday Life
Journal Section Research Articles
Authors

Gülsen Alkaç Özdemir 0000-0002-5301-9501

Project Number SHIZ-2023-1531
Early Pub Date December 19, 2023
Publication Date December 20, 2023
Submission Date August 20, 2023
Acceptance Date December 17, 2023
Published in Issue Year 2023 Volume: 8 Issue: 4

Cite

APA Alkaç Özdemir, G. (2023). Parasal Aktarım Mekanizması Kanalı Olarak Kredi Kanalının Bibliyometrik Analiz İle Bilimsel Haritalaması. Uluslararası İnsan Ve Sanat Araştırmaları Dergisi, 8(4), 404-431.

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