Year 2020, Volume 28 , Issue 46, Pages 117 - 140 2020-10-31

The Impact of Financial Stability on Real Economy in Turkey: Based on Linear and Non-Linear ARDL Models
Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak

Mesut Alper GEZER [1] , Ramazan KILIÇ [2]


The stability situation of financial system and its impact on real economy is a discussion subject. The aim of the study is to investigate the impact of stability situation of financial system on real economy and reveal reciprocal asymmetric effects between each other. For this purpose, composite financial stability index is developed in order to gauge stability situation of Turkey’s financial system for the quarterly period of 2004-2017. It was seen that index is a good proxy of related period due to reflect domestic and global economic affairs. Linear ARDL model was determined based on unit root structures of variables. Non-linear ARDL model and Hatemi-J causality test were used to analyse stability and instability situations of financial system, separately. The findings indicate that financial stability affects real economy more than instability at the related period.
Finansal sistemin istikrar durumu ve reel ekonomiye olan etkisi bir tartışma konusudur. Çalışmanın amacı finansal sistemin istikrar durumunun reel ekonomi üzerindeki etkisini araştırmak ve karşılıklı asimetrik etkileri ortaya koymaktır. Bu doğrultuda, Türkiye’de finansal sistemin istikrar durumunun ölçümlenmesi için toplu finansal istikrar endeksi 2004-2017 çeyreklik dönemine yönelik geliştirilmiştir. İlgili endeks hem küresel hem de yerel ekonomik hâdiseleri yansıtması bakımından dönemin iyi bir temsilcisidir. Değişkenlerin birim kök özelliklerinden kaynaklı olarak doğrusal ARDL modelinin kullanılmasına karar verilmiştir. Finansal sistemin istikrar ve istikrarsızlık durumlarının ayrı ayrı analiz edilmesi amacıyla doğrusal olmayan ARDL modeli ve Hatemi-J asimetrik nedensellik testi kullanılmıştır. İlgili dönemde finansal istikrar reel ekonomiyi istikrarsızlıktan daha çok etkilemektedir.
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Primary Language tr
Subjects Social
Journal Section Articles
Authors

Orcid: 0000-0001-9157-8833
Author: Mesut Alper GEZER (Primary Author)
Institution: Dumlupinar University
Country: Turkey


Orcid: 0000-0002-2484-7471
Author: Ramazan KILIÇ
Institution: KÜTAHYA DUMLUPINAR ÜNİVERSİTESİ
Country: Turkey


Dates

Publication Date : October 31, 2020

Bibtex @research article { sosyoekonomi577585, journal = {Sosyoekonomi}, issn = {1305-5577}, address = {}, publisher = {Sosyoekonomi Society}, year = {2020}, volume = {28}, pages = {117 - 140}, doi = {10.17233/sosyoekonomi.2020.04.06}, title = {Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak}, key = {cite}, author = {Gezer, Mesut Alper and Kılıç, Ramazan} }
APA Gezer, M , Kılıç, R . (2020). Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak . Sosyoekonomi , 28 (46) , 117-140 . DOI: 10.17233/sosyoekonomi.2020.04.06
MLA Gezer, M , Kılıç, R . "Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak" . Sosyoekonomi 28 (2020 ): 117-140 <https://dergipark.org.tr/en/pub/sosyoekonomi/issue/57521/577585>
Chicago Gezer, M , Kılıç, R . "Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak". Sosyoekonomi 28 (2020 ): 117-140
RIS TY - JOUR T1 - Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak AU - Mesut Alper Gezer , Ramazan Kılıç Y1 - 2020 PY - 2020 N1 - doi: 10.17233/sosyoekonomi.2020.04.06 DO - 10.17233/sosyoekonomi.2020.04.06 T2 - Sosyoekonomi JF - Journal JO - JOR SP - 117 EP - 140 VL - 28 IS - 46 SN - 1305-5577- M3 - doi: 10.17233/sosyoekonomi.2020.04.06 UR - https://doi.org/10.17233/sosyoekonomi.2020.04.06 Y2 - 2020 ER -
EndNote %0 Sosyoekonomi Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak %A Mesut Alper Gezer , Ramazan Kılıç %T Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak %D 2020 %J Sosyoekonomi %P 1305-5577- %V 28 %N 46 %R doi: 10.17233/sosyoekonomi.2020.04.06 %U 10.17233/sosyoekonomi.2020.04.06
ISNAD Gezer, Mesut Alper , Kılıç, Ramazan . "Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak". Sosyoekonomi 28 / 46 (October 2020): 117-140 . https://doi.org/10.17233/sosyoekonomi.2020.04.06
AMA Gezer M , Kılıç R . Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak. Sosyoekonomi. 2020; 28(46): 117-140.
Vancouver Gezer M , Kılıç R . Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak. Sosyoekonomi. 2020; 28(46): 117-140.
IEEE M. Gezer and R. Kılıç , "Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak", Sosyoekonomi, vol. 28, no. 46, pp. 117-140, Oct. 2020, doi:10.17233/sosyoekonomi.2020.04.06