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TÜRKİYE’DE BERNANKE- BLINDER MAL KREDİ (CC) YAKLAŞIMININ TVP VAR TEKNİĞİ İLE ANALİZİ

Yıl 2017, , 1 - 30, 29.12.2017
https://doi.org/10.17065/huniibf.372351

Öz

Bu
çalışmanın amacı Bernanke ve Blinder (1988)’in Mal-Kredi (CC) yaklaşımının,
Türkiye’de parasal aktarım mekanizmasının kredi kanalı çerçevesinde analiz
edilmesidir. Çalışmada para politikasının kredi kanalı ile meydana getirdiği
etkiler zamana göre değişen parametreli VAR (TVP-VAR) tekniği ile çeyreklik
verilerle 1992Q1-2016Q1 dönemi için incelenmiştir. Uygulama sonuçlarından
hareketle, kredi kanalının etkinliği TCMB’nin finansal istikrar hedefi
doğrultusunda analiz edilmiş ve politika önerileri geliştirilmiştir. Ulaşılan sonuçlar; Bernanke ve Blinder’in
Mal-Kredi (CC) yaklaşımının Türkiye’de geçerliliğini göstermektedir. Ayrıca söz
konusu mekanizmanın özellikle finansal istikrar hedefiyle birlikte 2010 sonrası
dönemde daha etkin işlediği görülmektedir.

Kaynakça

  • Adams-Kane, J., Y. Jia,J.J. Lim (2015), “Global Transmission Channels for International Bank Lending in the 2007-09 Financial Crisis”, Journal of International Money and Finance, 97. doi:10.1016/j.jimonfin.2014.11.020.
  • Aklan, A., N. ve Nargeleçekenler, M. (2008), “Para Politikalarının Banka Kredi Kanalı Üzerindeki Etkileri”, İstanbul Üniversitesi Siyasal Bilgiler Fakültesi Dergisi, (39), 109-132.
  • Alper, K., T. Hülagü, G. Keleş (2012), “An Empirical Study on Liquidity and Bank Lending”, Türkiye Cumhuriyet Merkez Bankası WorkingPaper, No: 12/04.
  • Altunbaş, Y., O. Fazylov, P. Molyneux (2002), “Evidence on the Bank Lending Channel in Europe”, Journal of Banking and Finance, Elsevier, 26(11), 2093-2110.
  • Altunöz U. (2013), “Türkiye’de Banka Kredi Kanalının Etkinliği Üzerine Ampirik Bir Çalışma: Kredi Tayınlaması”. AKADEMİK BAKIŞ Uluslararası Hakemli Sosyal Bilimler Dergisi, Sayı: 37.
  • Apergis, N., S.M. Miller, E. Alevizopoulou (2015), “The Bank Lending Channel and Monetary Policy Rules for Eurozone Banks, Further Extensions”, B.E. Journal of Macroeconomics, 15(1), 93-112. doi:10.1515/bejm-2014-0044.
  • Arabacı, Ö., M.F. Baştürk (2013), “Türkiye’de Banka Kredi Kanalı: 2001-2008 Dönemi”, Gaziantep University Journal of Social Sciences, 12(3), 567-587. ISSN: 1303-0094.
  • Bagliano, F.C., C.A. Favero (1995), “The Credit Channel of Monetary Transmission: The Case of Italy”, Working Paper, Universita` Cattolica del Sacro Cuore di Milano.
  • Bajec, L., J.G. Lambsdorff (2006), “There is No Bank Lending Channel!”, Discussion Paper, University of Passau, No: V-46-06.
  • Bankacılık Düzenleme ve Denetleme Kurumu, (2016), Türk Bankacılık Sektörü Temel Göstergeleri, Haziran. Bank of England (2014), “The Transmission Mechanism of Monetary Policy”, The Monetary Policy Committee Bank of England, s:3-12, http://www.bankofengland.co.uk/publications/Documents/other/monetary/montrans.pdf, Erişim Tarihi: 30.08.2016.
  • Benati, L.,H. Mumtaz (2005), “The Great Stability in the U.K”, Good Policy or Good Luck? Mimeo: Bank of England.
  • Bernanke, B. (1993), “Credit in the Macroeconomy”, Federal Reserve Bank of New York Quarterly Review, Spring 1992/1993, 50-70.
  • Bernanke, B.S., A.S. Blinder (1992), “The Federal Funds Rate and Channels of Monetary Policy Transmission”, American Economic Review, 82, No. 4, 901-921.
  • Bernanke, B.S., A.S. Blinder (1988), ”Is it Money or Credit, or both, or neither?”, American Economic Review, 78, No. 2, 435-439.
  • Bernanke, B.S., M. Gertler (1995), “Inside the Black Box: The Credit Channel of Monetary Policy Transmission”, Journal of Economic Perspective, 9, No. 4, 27-48.
  • Budha, B.B. (2013), “The Bank Lending Channel of Monetary Policy of Nepal: Evidence from Bank Level”, NRB Working Paper.
  • Borio, E.V. (1996), “Credit Characteristics and the Monetary Policy Transmission Mechanism in Fourteen Industrial Countries: Facts, Conjectures and Some Econometric Evidence”, in: K. Alders et al. (eds.), Monetary Policy in a Converging Europe, Kluwer, Boston, MA.
  • Breitenlechner, M., J. Scharler, F. Sindermann (2016), “Banks’ External Financing Costs and the Bank Lending Channel: Results from a SVAR Analysis”, Journal of Financial Stability, doi:10.1016/j.jfs.2016.07.007
  • Brooks, P.K. (2007), “Does the Bank Lending Channel of Monetary Transmission Work in Turkey?” IMF Working Paper, No 07/272.
  • Brunner, K., A. Meltzer (1988), “Money and Credit in the Transmission Process”, American Economic Review, 78, No:2, 446-451.
  • Canova, F. (1993), “Modelling and Forecasting Exchange Rates with a Bayesian Time-Varying Coefficient Model”, Journal of Economic Dynamics and Control, 17, 233-261.
  • Canova, F. ve M. Ciccarelli (2009), “Estimating multicountry VAR models”. International Economic Review, 50, 929-961.
  • Canova, F., L. Gambetti (2009), “Structural Changes in the US Economy: Is there a Role for Monetary Policy?”, Journal of Economic Dynamics and Control, 33477-490. doi:10.1016/j.jedc.2008.05.010
  • Canova, F., F. Ferroni, C. Matthes (2015), “Approximating Time Varying Structural Models with Time Invariant Structures”, Federal Reserve Bank of Richmond Working Paper, 15-10 (September).
  • Cecchetti S.G. (1995), ”Distinguishing Theories of the Monetary Transmission Channel”, Federal Reserve Bank of St Louis Review, May-June, 83-100.
  • Cengiz, V. (2009), “Parasal Aktarım Mekanizması İşleyişi ve Ampirik Bulgular”, Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 33, (Temmuz-Aralık), 225-247.
  • Cengiz, V., M. Duman (2008), “Türkiye’de Banka Kredi Kanalının Önemi Üzerine Etki Tepki Fonksiyonlarına Dayalı Bir Değerlendirme (1990-2006)”, Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 26(2), 81-104.
  • Cetorelli, N., L.S. Goldberg (2008), “Banking Globalization, Monetary Transmission, and the Lending Channel”, NBER Working Papers, 14101, National Bureau of Economic Research, Inc.
  • Chiades, P., L. Gambacorta (2004), “The Bernanke and Blinder Model in an Open Economy: The Italian Case”, German Economic Review, Verein für Socialpolitik, 5(1), 1-34, 02.
  • Cogley, T., T.J. Sargent (2003), “Drifts and Volatilities: Monetary Policies and Outcomes in the Post WWII U.S”, (Mimeo: New York University).
  • Çamoğlu, M.T., M.T. Akıncı (2012), “Türkiye'de Sektörel Banka Kredilerinin Gelişimi: Bir Zaman Serisi Analizi”, Celal Bayar Üniversitesi İ.İ.B.F. Yönetim ve Ekonomi Dergisi, 19(1).
  • Çavuşoğlu, T.A. (2002), “Credit Transmission Mechanism in Turkey: an Empirical Investigation”, Working Paper, METU Economic Research Center, No: 02/03.
  • Dajcman, S. (2016), “The Bank Lending Channel of Monetary Policy and its Macroeconomic Effects: Evidence from a Sample of Selected Euro Area Countries”, Engineering Economics, 27(2), 124-133. doi:10.5755/j01.ee.27.2.12647
  • Dave, C., S.J. Dressler, L. Zhang (2013), “The Bank Lending Channel: A FAVAR Analysis”, Journal of Money, Credit & Banking (Wiley-Blackwell), 45(8), 1705-1720. doi:10.1111/jmcb.12067
  • Diamond, D. W., (1984), “Financial Intermediation and Delegated Monitoring,” Review of Ecnomic Studies, 51(3), 393–414.
  • Disyatat, P., (2010), “The Bank Lending Channel Revisited”, BIS Working Papers 297, Bank for International Settlements.
  • Ehrmann, M., L. Gambacorta, J.M. Pages, P. Sevestre, A. Worms (2001), “Financial Systems and the Role of Banks in Monetary Policy Transmission in the Euro Area”, Working Paper Series 105, European Central Bank.
  • Erdoğan, S., S.G. Beşballı (2009), “Türkiye’de Banka Kredileri Kanalının İşleyişi Üzerine Ampirik Bir Analiz”, Doğuş Üniversitesi Dergisi, 11(1), 28-41.
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ANALYSIS OF BERNANKE- BLINDER COMMODITY CREDIT (CC) APPROACH IN TURKEY WITH TVP VAR TECHNIQUE

Yıl 2017, , 1 - 30, 29.12.2017
https://doi.org/10.17065/huniibf.372351

Öz

The aim of the study is to
analyze the Bernanke and Blinder (1988)’s Commodity-Credit approach within the
framework the credit channel of the monetary transmission mechanism in Turkey.
In this study, the effects that monetary policy turns out through the credit
channel are examined by means of the time varying parameter VAR (TVP-VAR)
technique with quarterly data for the period
1992Q1-2016Q1. Efficiency of the credit channel is investigated in
accordance with the financial stability aim of the TRCB and policy
recommendations are developed according to the results. The findings show that
Bernanke and Blinder Commodity-Credit (CC) approach is valid in Turkey.
Besides, it seems that the so-called mechanism, especially with the financial
stability goal, works more effectively in the period after 2010.

Kaynakça

  • Adams-Kane, J., Y. Jia,J.J. Lim (2015), “Global Transmission Channels for International Bank Lending in the 2007-09 Financial Crisis”, Journal of International Money and Finance, 97. doi:10.1016/j.jimonfin.2014.11.020.
  • Aklan, A., N. ve Nargeleçekenler, M. (2008), “Para Politikalarının Banka Kredi Kanalı Üzerindeki Etkileri”, İstanbul Üniversitesi Siyasal Bilgiler Fakültesi Dergisi, (39), 109-132.
  • Alper, K., T. Hülagü, G. Keleş (2012), “An Empirical Study on Liquidity and Bank Lending”, Türkiye Cumhuriyet Merkez Bankası WorkingPaper, No: 12/04.
  • Altunbaş, Y., O. Fazylov, P. Molyneux (2002), “Evidence on the Bank Lending Channel in Europe”, Journal of Banking and Finance, Elsevier, 26(11), 2093-2110.
  • Altunöz U. (2013), “Türkiye’de Banka Kredi Kanalının Etkinliği Üzerine Ampirik Bir Çalışma: Kredi Tayınlaması”. AKADEMİK BAKIŞ Uluslararası Hakemli Sosyal Bilimler Dergisi, Sayı: 37.
  • Apergis, N., S.M. Miller, E. Alevizopoulou (2015), “The Bank Lending Channel and Monetary Policy Rules for Eurozone Banks, Further Extensions”, B.E. Journal of Macroeconomics, 15(1), 93-112. doi:10.1515/bejm-2014-0044.
  • Arabacı, Ö., M.F. Baştürk (2013), “Türkiye’de Banka Kredi Kanalı: 2001-2008 Dönemi”, Gaziantep University Journal of Social Sciences, 12(3), 567-587. ISSN: 1303-0094.
  • Bagliano, F.C., C.A. Favero (1995), “The Credit Channel of Monetary Transmission: The Case of Italy”, Working Paper, Universita` Cattolica del Sacro Cuore di Milano.
  • Bajec, L., J.G. Lambsdorff (2006), “There is No Bank Lending Channel!”, Discussion Paper, University of Passau, No: V-46-06.
  • Bankacılık Düzenleme ve Denetleme Kurumu, (2016), Türk Bankacılık Sektörü Temel Göstergeleri, Haziran. Bank of England (2014), “The Transmission Mechanism of Monetary Policy”, The Monetary Policy Committee Bank of England, s:3-12, http://www.bankofengland.co.uk/publications/Documents/other/monetary/montrans.pdf, Erişim Tarihi: 30.08.2016.
  • Benati, L.,H. Mumtaz (2005), “The Great Stability in the U.K”, Good Policy or Good Luck? Mimeo: Bank of England.
  • Bernanke, B. (1993), “Credit in the Macroeconomy”, Federal Reserve Bank of New York Quarterly Review, Spring 1992/1993, 50-70.
  • Bernanke, B.S., A.S. Blinder (1992), “The Federal Funds Rate and Channels of Monetary Policy Transmission”, American Economic Review, 82, No. 4, 901-921.
  • Bernanke, B.S., A.S. Blinder (1988), ”Is it Money or Credit, or both, or neither?”, American Economic Review, 78, No. 2, 435-439.
  • Bernanke, B.S., M. Gertler (1995), “Inside the Black Box: The Credit Channel of Monetary Policy Transmission”, Journal of Economic Perspective, 9, No. 4, 27-48.
  • Budha, B.B. (2013), “The Bank Lending Channel of Monetary Policy of Nepal: Evidence from Bank Level”, NRB Working Paper.
  • Borio, E.V. (1996), “Credit Characteristics and the Monetary Policy Transmission Mechanism in Fourteen Industrial Countries: Facts, Conjectures and Some Econometric Evidence”, in: K. Alders et al. (eds.), Monetary Policy in a Converging Europe, Kluwer, Boston, MA.
  • Breitenlechner, M., J. Scharler, F. Sindermann (2016), “Banks’ External Financing Costs and the Bank Lending Channel: Results from a SVAR Analysis”, Journal of Financial Stability, doi:10.1016/j.jfs.2016.07.007
  • Brooks, P.K. (2007), “Does the Bank Lending Channel of Monetary Transmission Work in Turkey?” IMF Working Paper, No 07/272.
  • Brunner, K., A. Meltzer (1988), “Money and Credit in the Transmission Process”, American Economic Review, 78, No:2, 446-451.
  • Canova, F. (1993), “Modelling and Forecasting Exchange Rates with a Bayesian Time-Varying Coefficient Model”, Journal of Economic Dynamics and Control, 17, 233-261.
  • Canova, F. ve M. Ciccarelli (2009), “Estimating multicountry VAR models”. International Economic Review, 50, 929-961.
  • Canova, F., L. Gambetti (2009), “Structural Changes in the US Economy: Is there a Role for Monetary Policy?”, Journal of Economic Dynamics and Control, 33477-490. doi:10.1016/j.jedc.2008.05.010
  • Canova, F., F. Ferroni, C. Matthes (2015), “Approximating Time Varying Structural Models with Time Invariant Structures”, Federal Reserve Bank of Richmond Working Paper, 15-10 (September).
  • Cecchetti S.G. (1995), ”Distinguishing Theories of the Monetary Transmission Channel”, Federal Reserve Bank of St Louis Review, May-June, 83-100.
  • Cengiz, V. (2009), “Parasal Aktarım Mekanizması İşleyişi ve Ampirik Bulgular”, Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 33, (Temmuz-Aralık), 225-247.
  • Cengiz, V., M. Duman (2008), “Türkiye’de Banka Kredi Kanalının Önemi Üzerine Etki Tepki Fonksiyonlarına Dayalı Bir Değerlendirme (1990-2006)”, Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 26(2), 81-104.
  • Cetorelli, N., L.S. Goldberg (2008), “Banking Globalization, Monetary Transmission, and the Lending Channel”, NBER Working Papers, 14101, National Bureau of Economic Research, Inc.
  • Chiades, P., L. Gambacorta (2004), “The Bernanke and Blinder Model in an Open Economy: The Italian Case”, German Economic Review, Verein für Socialpolitik, 5(1), 1-34, 02.
  • Cogley, T., T.J. Sargent (2003), “Drifts and Volatilities: Monetary Policies and Outcomes in the Post WWII U.S”, (Mimeo: New York University).
  • Çamoğlu, M.T., M.T. Akıncı (2012), “Türkiye'de Sektörel Banka Kredilerinin Gelişimi: Bir Zaman Serisi Analizi”, Celal Bayar Üniversitesi İ.İ.B.F. Yönetim ve Ekonomi Dergisi, 19(1).
  • Çavuşoğlu, T.A. (2002), “Credit Transmission Mechanism in Turkey: an Empirical Investigation”, Working Paper, METU Economic Research Center, No: 02/03.
  • Dajcman, S. (2016), “The Bank Lending Channel of Monetary Policy and its Macroeconomic Effects: Evidence from a Sample of Selected Euro Area Countries”, Engineering Economics, 27(2), 124-133. doi:10.5755/j01.ee.27.2.12647
  • Dave, C., S.J. Dressler, L. Zhang (2013), “The Bank Lending Channel: A FAVAR Analysis”, Journal of Money, Credit & Banking (Wiley-Blackwell), 45(8), 1705-1720. doi:10.1111/jmcb.12067
  • Diamond, D. W., (1984), “Financial Intermediation and Delegated Monitoring,” Review of Ecnomic Studies, 51(3), 393–414.
  • Disyatat, P., (2010), “The Bank Lending Channel Revisited”, BIS Working Papers 297, Bank for International Settlements.
  • Ehrmann, M., L. Gambacorta, J.M. Pages, P. Sevestre, A. Worms (2001), “Financial Systems and the Role of Banks in Monetary Policy Transmission in the Euro Area”, Working Paper Series 105, European Central Bank.
  • Erdoğan, S., S.G. Beşballı (2009), “Türkiye’de Banka Kredileri Kanalının İşleyişi Üzerine Ampirik Bir Analiz”, Doğuş Üniversitesi Dergisi, 11(1), 28-41.
  • Ford, J. L., J. Agung,, S.S. Ahmed, B. Santoso (2003), “Bank Behaviour and the Channel of Monetary Policy in Japan, 1965–1999”. Japanese Economic Review, 54, 275–299.
  • Friedman, B.M., K.N. Kuttner (2010), “Implementation of Monetary Policy: How do Central Banks set Interest Rates?”, Handbook of Monetary Economics, in: Benjamin M. Friedman and Michael Woodford (ed.), Edition 1, volume 3, chapter 24, 1345-1438 Elsevier.
  • Gambacorta, L., (2005), “Inside the Bank Lending Channel”, European Economic Review, 49(7), 1737-1759. García-Posada, M., M. Marchetti (2016), “The Bank Lending Channel of Unconventional Monetary Policy: The Impact of the VLTROs on Credit Supply in Spain”, Economic Modelling, 58427-441.
  • Gerlach, S., F. Smets (1995), “The Monetary Transmission Mechanism: Evidence from the G7 Countries”, CEPR Discussion Paper, No. 1219.
  • Gündüz, L. (2001), “Türkiye’de Parasal Aktarım Mekanizması ve Banka Kredi Kanalı”, İstanbul Menkul Kıymetler Borsası Dergisi, (18), 13-30.
  • Heryán, T., P.G. Tzeremes (2016), “The Bank Lending Channel of Monetary Policy in EU Countries During the Global Financial Crisis”, Economic Modelling, doi:10.1016/j.econmod.2016.07.017.
  • Ireland, N.P. (2005), “The Monetary Transmission Mechanism”, Working Papers, Federal Reserve Bank of Boston, No:06¬1, http://www.bostonfed.org/economic/wp/wp2006/wp0601.pdf, Erişim Tarihi: 30.08.2016.
  • İnan, A.E. (2001), “Parasal Aktarım Mekanizmasının Kredi Kanalı ve Türkiye”, Bankacılar Dergisi, 12(39), 3-19.
  • Juks, R. (2004). “The importance of the bank-lending channel in Estonia: evidence from micro-economic data”. Working Papers of Eesti Pank, (6), 1-38.
  • Juselius, K. (1997), “Changing Monetary Transmisssion Mechanism in Four European Economies: The Effects of Capital Liberalization within the EMS”, Empirical Economics, 23, 455–481.
  • Kahyaoğlu, H. (2007), “Türkiye’de Finansal Risklerin Reel Piyasalara Etkisi: Aktarım Mekanizmalarının Analizi (1989-2003)”, (Yayınlanmamış Doktora Tezi). İzmir: Dokuz Eylül Üniversitesi Sosyal Bilimler Enstitüsü.
  • Kakes, J., (2000), “Identifying the mechanism: is there a bank lending channel of monetary transmission in the Netherlands?” Applied Economics Letters 7, 63-67.
  • Kashyap, A.K., J.C. Stein (1993), “Monetary Policy and Bank Lending”, Working Paper, National Bureau of Economic Research, No: 4317.
  • Kashyap, K., J.C. Stein (1995), “The Impact of Monetary Policy on Bank Balance Sheets”, Carnegie-Rochester Conference Series on Public Policy, 42(1), 151-195.
  • Kashyap, K., J.C. Stein (2000), “What do a Million Observations on Banks Say about the Transmission of Monetary Policy?”, American Economic Review, 90(3), 407-428.
  • Khan, H.H., R.B. Ahmad, C.S. Gee (2016), “Bank Competition and Monetary Policy Transmission Through the Bank Lending Channel: Evidence from ASEAN”, International Review of Economics and Finance, 4419-39. doi:10.1016/j.iref.2016.03.003.
  • Kishan, R.P., T.P. Opiela (2000), “Bank Size, Bank Capital, and the Bank Lending Channel”, Journal of Money, Credit and Banking, 32(1), 121-41.
  • Koop, G., D. Korobilis (2010), “Bayesian Multivariate Time Series Methods for Empirical Macroeconomics”, Foundations and Trends in Econometrics, 267–358.
  • Koop, G., R. Leon-Gonzalez, R. Strachan (2009), “On the Evolution of the Monetary Policy Transmission Mechanism”, Journal of Economic Dynamics and Control, 33, 997–1017. http://dx.doi.org/10.1016/j.jedc.2008.11.003.
  • Korobilis, D. (2013), “VAR Forecasting Using Bayesian Variable Selection”, Journal of Applied Econometrics, 28(2), 204-230.
  • Matousek, R., N.Sarantis (2009), “The Bank Lending Channel and Monetary Transmission in Central and Eastern European Countries”, Journal of Comparative Economics, 37(2), 321-334.
  • Meltzer A.H. (1995), “Monetary, Credit (and Other) Transmission Processes: A Monetarist Perspective”, Journal of Economic Perspectives, 9(4), 49-72.
  • Milcheva, S. (2013), “A Bank Lending Channel or a Credit Supply Shock?” Journal of Macroeconomics, 37314-332. doi:10.1016/j.jmacro.2013.03.004.
  • Mishkin, F.S. (2006), “The Economics of Money, Banking, and Financial Markets”, seventh edition, Pearson Addison Wesley.
  • Modigliani, F., M.H. Miller, (1958), “The Cost of Capital, Corporation Finance and the Theory of Investment”. The American Economic Review, 48(3), 261-297.
  • Morais, B., J. Peydró, C. Ruiz (2015), “The International Bank Lending Channel of Monetary Policy Rates and Quantitative Easing: Credit Supply, Reach-for-Yield, and Real Effects”, The World Bank.
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  • Örnek, İ. (2009), “Türkiye’de Parasal Aktarım Mekanizması Kanallarının İşleyişi”, Maliye Dergisi, (156), 104-125.
  • Öztürkler, H., A.H. Çermikli (2007), “Türkiye'de Bir Parasal Aktarım Kanalı Olarak Banka Kredileri”, Finans Politik & Ekonomik Yorumlar, 44, 514.
  • Peker, O., B. Canbazoğlu (2011), “Türkiye’de Banka Kredi Kanalının İşleyişi: Ampirik Bir Analiz”, Celal Bayar Üniversitesi İ.İ.B.F. Yönetim ve Ekonomi Dergisi, 18(2).
  • Primiceri, G.E. (2005), “Time Varying Structural Vector Autoregressions and Monetary Policy”, Review of Economic Studies, 72. http://dx.doi.org/10.1111/roes.2005.72.issue-3
  • Roosa, R.V. (1951), “Interest Rates and the Central Bank”, In Money, Trade and Economic Growth: Essays in Honor of J. H. Williams (New York: Macmillan), pp. 207-295.
  • Şengönül, A., W. Thorbecke (2005), “The Effect of Monetary Policy on Bank Lending in Turkey”, Applied Financial Economics, 15, 931–34.
  • Shaw, M., J. Chang, H. Chen (2013), “Capital Adequacy and the Bank Lending Channel Macroeconomic Implications”, Journal of Macroeconomics, 36121-137.
  • Shokr, M.A., Z.A. Karim, M. Jusoh, M.S. Zaidi (2014), “The Bank Lending Channel of Monetary Policy? The Panel Evidence from Egypt”, Gadjah Mada International Journal Of Business, 16(3), 255-274.
  • Sims, C.A. (1993), “Business Cycle, Indicator and Forecasting”, Chicago, IL: University of Chicago Press for the NBER. Stockholm: Department of Economics, Stockholm University, 179–204.
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  • Takeda, T., F. Rocha, M.I. Nakane (2005), “The Reaction of Bank Lending to Monetary Policy in Brazil”, Revista Brasileria de Economia, 59(1).
  • Taş, D.S., D.İ. Örnek, S. Utlu (2013), “Banka Kredi Kanalı ve Türkiye Uygulaması”, Ç.Ü. Sosyal Bilimler Enstitüsü Dergisi, 21(1), 53-74.
  • Türkiye Bankalar Birliği, İstatistiki Raporlar, https://www.tbb.org.tr/tr/bankacilik/banka-ve-sektor-bilgileri/istatistiki-raporlar/59.
  • Türkiye Cumhuriyet Merkez Bankası, (2007), Bülten, Sayı: 6, Haziran 2007, http://www.tcmb.gov.tr/yeni/iletisimgm/Bulten Turkce6.pdf, Erişim Tarihi: 30.08.2016.
  • Türkiye Cumhuriyet Merkez Bankası, (2016), “Finansal İstikrar Raporu, TCMB Sektör Bilançoları”, Mayıs, Sayı 22.
  • Türkiye Cumhuriyet Merkez Bankası, Elektronik Veri Dağıtım Merkezi (EVDS), http://evds.tcmb.gov.tr/.
  • TÜİK, (2015), “Küçük ve Orta Büyüklükteki Girişim İstatistikleri”, Haber Bülteni, Sayı: 21864, http://www.tuik.gov.tr/PreTablo.do?alt_id=1033, Erişim Tarihi: 31.08.2016.
  • Yang, J., H. Shao (2016), “Impact of Bank Competition on the Bank Lending Channel of Monetary Transmission: Evidence from China”, International Review of Economics and Finance, 43468-481. doi:10.1016/j.iref.2015.12.008
  • Yiğitbaş, Ş.B. (2013), “Parasal Aktarım Mekanizması: Türkiye’de Banka Kredi Kanalı”. Bankacılar Dergisi, Sayı 85.
  • Yu, H. (2014), “Test of the Bank Lending Channel: The Case of Hungary”, Theoretical & Applied Economics, 21(1), 115-120.
  • Zulkefly, A.K., W. Ngah, A.W. Saini, A.K. Bakri (2010), “Bank Lending Channel of Monetary Policy: Dynamic Panel Data Evidence from Malaysia”, MPRA Paper, No. 26157.
Toplam 86 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
Yazarlar

Osman Tüzün

Üzeyir Aydın

Ramazan Ekinci

Yayımlanma Tarihi 29 Aralık 2017
Gönderilme Tarihi 8 Kasım 2016
Yayımlandığı Sayı Yıl 2017

Kaynak Göster

APA Tüzün, O., Aydın, Ü., & Ekinci, R. (2017). TÜRKİYE’DE BERNANKE- BLINDER MAL KREDİ (CC) YAKLAŞIMININ TVP VAR TEKNİĞİ İLE ANALİZİ. Hacettepe Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, 35(4), 1-30. https://doi.org/10.17065/huniibf.372351
AMA Tüzün O, Aydın Ü, Ekinci R. TÜRKİYE’DE BERNANKE- BLINDER MAL KREDİ (CC) YAKLAŞIMININ TVP VAR TEKNİĞİ İLE ANALİZİ. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. Aralık 2017;35(4):1-30. doi:10.17065/huniibf.372351
Chicago Tüzün, Osman, Üzeyir Aydın, ve Ramazan Ekinci. “TÜRKİYE’DE BERNANKE- BLINDER MAL KREDİ (CC) YAKLAŞIMININ TVP VAR TEKNİĞİ İLE ANALİZİ”. Hacettepe Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi 35, sy. 4 (Aralık 2017): 1-30. https://doi.org/10.17065/huniibf.372351.
EndNote Tüzün O, Aydın Ü, Ekinci R (01 Aralık 2017) TÜRKİYE’DE BERNANKE- BLINDER MAL KREDİ (CC) YAKLAŞIMININ TVP VAR TEKNİĞİ İLE ANALİZİ. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 35 4 1–30.
IEEE O. Tüzün, Ü. Aydın, ve R. Ekinci, “TÜRKİYE’DE BERNANKE- BLINDER MAL KREDİ (CC) YAKLAŞIMININ TVP VAR TEKNİĞİ İLE ANALİZİ”, Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, c. 35, sy. 4, ss. 1–30, 2017, doi: 10.17065/huniibf.372351.
ISNAD Tüzün, Osman vd. “TÜRKİYE’DE BERNANKE- BLINDER MAL KREDİ (CC) YAKLAŞIMININ TVP VAR TEKNİĞİ İLE ANALİZİ”. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 35/4 (Aralık 2017), 1-30. https://doi.org/10.17065/huniibf.372351.
JAMA Tüzün O, Aydın Ü, Ekinci R. TÜRKİYE’DE BERNANKE- BLINDER MAL KREDİ (CC) YAKLAŞIMININ TVP VAR TEKNİĞİ İLE ANALİZİ. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. 2017;35:1–30.
MLA Tüzün, Osman vd. “TÜRKİYE’DE BERNANKE- BLINDER MAL KREDİ (CC) YAKLAŞIMININ TVP VAR TEKNİĞİ İLE ANALİZİ”. Hacettepe Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, c. 35, sy. 4, 2017, ss. 1-30, doi:10.17065/huniibf.372351.
Vancouver Tüzün O, Aydın Ü, Ekinci R. TÜRKİYE’DE BERNANKE- BLINDER MAL KREDİ (CC) YAKLAŞIMININ TVP VAR TEKNİĞİ İLE ANALİZİ. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. 2017;35(4):1-30.

Cited By

Türkiye’de Parasal Aktarım Mekanizması: Teorik Bir Değerlendirme
Cankiri Karatekin Universitesi Iktisadi ve Idari Bilimler Fakultesi Dergisi
Alpaslan SEREL
https://doi.org/10.18074/ckuiibfd.598022

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