TY  - JOUR
T1  - Does Trade Credit Channel Operate in Turkey? An Analysis with CBRT Sector Statistics
TT  - Türkiye’de Ticari Kredi Kanalı İşliyor mu? TCMB Sektör İstatistikleri ile Bir Analiz
AU  - Şahin, Arzu
PY  - 2019
DA  - October
Y2  - 2019
DO  - 10.21121/eab.486249
JF  - Ege Academic Review
JO  - eab
PB  - Ege Üniversitesi
WT  - DergiPark
SN  - 1303-099X
SP  - 437
EP  - 455
VL  - 19
IS  - 4
LA  - en
AB  - This paper aims to test trade credit channel in Turkeyover the period from 2008 to 2016 using two sector level data sets obtainedfrom the aggregated accounts of Central Bank of the Republic of Turkey (CBRT)statistics. First sample consists of 7 main sectors and other sample involves12 manufacturing-sub sectors. Dynamicpanel data methods were applied to testwhether monetary and nonmonetary factors of trade credit have an impacton both gross and net trade credit status. According to analysis results about tradecredit received (gross), monetary policy restrictions has increased the tradecredit usage of small firm classes. Findings for net trade credit (net) showedthat main-sectors SME sized firm groups became net trade credit receiver whilelarge sized firm group was net trade credit extender and in manufacturingsub-sectors, SMEs samples were net trade credit extender. Three mainconclusions derived from these findings are; i) Trade credit channel hasoperated with the strongest effects on small firms. ii) Trade credits tend toflow from SMEs in manufacturing industry to the SMEs in all sectors. iii)Across all sectors, large firms tend to transfers funds to SMEs through tradecredit.
KW  - trade credit channel
KW  - trade credit
KW  - credit channel
N2  - Buçalışma, Türkiye Cumhuriyet Merkez Bankası (TCMB) istatistiklerinin toplamhesaplarından elde edilen iki sektör düzeyinde veri setini kullanarak, 2008'den2016'ya kadar olan süreçte Türkiye'de ticari kredi kanalını test etmeyiamaçlamaktadır. İlk örneklem 7 ana sektörden ve diğer örneklem 12 imalat altsektöründen oluşmaktadır. Ticari kredilerin parasal ve parasal olmayanfaktörlerinin hem brüt hem de net ticari kredi durumu üzerinde bir etkisi olupolmadığını test etmek için dinamik panel veri yöntemleri uygulanmıştır. Alınanticaret kredisi (brüt) ile ilgili analiz sonuçlarına göre, para politikasıkısıtlamaları küçük firma sınıflarının ticari kredi kullanımını artırmıştır.Net ticaret kredisi (net) için bulgular, ana sektör KOBİ ölçekli firmagruplarının net ticari kredi alıcısı olduğunu, büyük ölçekli firma grubunun netticaret kredi sağlayıcısı olduğunu ve imalat alt sektörlerinde ise KOBİ'lerinnet ticari kredi sağlayıcısı olduğunu göstermiştir. Bu bulgulardan elde edilenüç ana sonuç; i) Ticari kredi kanalı, en güçlü etkisi küçük firmalar üzerindeolmak üzere, faaliyet göstermiştir. ii) Ticari krediler, imalat sanayindekiKOBİ'lerden tüm sektörlerdeki KOBİ'lere akma eğilimindedir. iii) Tüm sektörlergenelinde, büyük firmalar ticari krediler yoluyla KOBİ'lere fon aktarmayameyillidir.
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CR  - http://www.tcmb.gov.tr (04.04.2018 - 10.11.2018)
CR  - http://www3.tcmb.gov.tr (04.11.2018- 17.11.2018)
UR  - https://doi.org/10.21121/eab.486249
L1  - http://dergipark.org.tr/tr/download/article-file/840775
ER  -