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KÜRESELLEŞME SÜRECİNDE FİNANSAL İSTİKRAR-PARA POLİTİKASI İLİŞKİSİ: TÜRKİYE İÇİN BİR DEĞERLENDİRME (2001 KRİZİ SONRASI)

Year 2011, Volume: 61 Issue: 2, 51 - 81, 14.11.2011

Doç. Dr. Seyhun Doğan Arş. Gör. Dr. Çiğdem Tunalı

Abstract

Güçlü ve istikrarlı bir finansal sistemin varlığı, son yıllarda ekonomik büyüme
ve gelişme için en önemli koşullardan biri haline gelmiştir. Dolayısıyla,
günümüzde finansal istikrarın sağlanması ve sürdürülmesi yoğun bir biçimde
tartışılmaktadır. Bu çalışmada, finansal istikrar kavramı ve finansal istikrar-para
politikası ilişkisi açıklandıktan sonra, 2001 krizi sonrası dönem için Türk para
politikasının finansal istikrar üzerindeki etkileri değerlendirilmektedir.

Keywords

Küreselleşme Türkiye finansal istikrar para politikası

References

  • Allen, W. A.-G. Wood (2006), "Defining and Achieving Financial Stability", Journal of Financial Stability, Vol.2, Iss.2, pp.152-172.
  • Başçı, E.-H. Kara (2011), "Finansal İstikrar ve Para Politikası", Merkez Bankası Çalışma Tebliği, No. 11/08, http://www.tcmb.gov.tr/research/discus/2011/WP1108.pdf, 02.05.2011.
  • Borio, C. (2005), "Monetary and Financial Stability: So Close and Yet So Far?", National Institute Economic Review, No.192, pp. 84-101.
  • Borio, C. (2006), "Monetary and Financial Stability: Here to Stay?", Journal of Banking and Finance, Vol. 30, Iss.12, pp. 3407-3414.
  • Borio, C.-M. Drehmann (2009), "Towards an Operational Framework for Financial Stability: "Fuzzy" Measurement and Its Consequences", BIS Working Papers, No. 284, http://www.bis.org/publ/work284.pdf, 01.04.2011.
  • CMk , M. (2006), "How Do Central Banks Write on Financial Stability?", IMF Working Paper, No. 06/163, http://www.imf.org/external/pubs/ft/wp/2006/wp06163.pdf, 05.05.2011.
  • Crockett, A. (2003), "Central Banking Under Test?", Monetary Stability, Financial Stability and the Business Cycle: Five Views, BIS Papers No.18, http://www.bis.org/publ/ bppdfbispap18.pdf, 21.03.2011.
  • Cuaresma, J. C.-E. Gnan (2008), "Four Monetary Policy Strategies in Comparison: How to Deal with Financial Instability?", Monetary Policy & the Economy Q3/08, http://www.oenb.at/en/img/mop_2008_3_cuaresma_gnan_tcm16-92369.pdf, 20.04.2011.
  • Das, D. K. (2010), "Globalisation: Past and Present", Economic Affairs, Vol. 30, Iss.1, pp.66-70.
  • De Gregorio, J. (2010), "Monetary Policy and Financial Stability: An Emerging Markets Perspective", International Finance, Vol.13, Iss.1, pp. 141-156.
  • Delice, G. (2007), Uluslararası Finansal Kuruluşlar ve Finansal İstikrar Sorunu, 1. Basım, Nobel Yayın Dağıtım, Ankara.
  • Doğan, S. (2009), "Küreselleşme, Finansal Kriz Olgusu ve İstikrar", Güncel Ekonomik Sorunlar: Global Kriz, Ed: S. Uzunoğlu, Literatür Yayınları, İstanbul, s.17-46.
  • Estrella, A. (2001), "Dealing with Financial Instability: The Central Bank's Tool Kit" , Economic Review ,http://www.riksbank.com/upload/Dokument_riksbank/Kat_publicerat/Artiklar_P V/er01_2_artikel4.pdf, 05.04.2011, pp.34-49.
  • Gudmundsson, M . (2008), "Financial Globalisation: Key Trends and Implications for the Transmission Mechanism o f Monetary Policy", Financial Market Developments and Their Implications for Monetary Policy, BIS Papers No.39, http://www.bis.org/publ/bppdf/bispap39c.pdf, 20.03.2011.
  • Ho, C.-R. N. Mc Cauley (2003), "Living with Flexible Exchange Rates: Issues and Recent Experience in Inflation Targeting Emerging Market Economies", BIS Working Papers, Working Paper No.130, http://www.bis.org/publ/work130.pdf, 01.04.2011.
  • Houben, A.-J. Kakes-G. Schinasi (2004), "Towards a Framework for Safeguarding Financial Stability", IMF Working Paper, Working Paper No. 04/101, http://www.imf.org/ external/pubs/ft/wp/2004/wp04101 .pdf, 25.04.2011.
  • Issing, O. (2003), "Monetary and Financial Stability: Is There a Trade-off?", Monetary Stability, Financial Stability and the Business Cycle: Five Views, BIS Papers No.18, http://www.bis.org/publ/bppdf/bispap18.pdf, 25.03.2011.
  • Issing, O. (2011), "Lessons for Monetary Policy: What Should the Consensus Be?", IMF Working Paper, Working Paper No.11/97, http://www.imf.org/external /pubs/ft/wp/2011/wp1197.pdf, 07.05.2011.
  • Kara, A. H. (2006), "Turkish Experience with Implicit Inflation Targeting", Central Bank of Turkey Research and Monetary Policy Department Working Paper, Working Paper No.06/03, http://www.tcmb.gov.tr/research/discus/WP0603.pdf, 15.05.2011.
  • Koch, E. (2000), Globalisierung der Wirtschaft, Verlag Franz Vahlen, München/Deutschland.
  • Oosterloo, S.-J. De Haan (2004), "Central Banks and Financial Stability: A Survey", Journal of Financial Stability, Vol.1, Iss.2, pp.257-273.
  • Padoa-Schioppa, T. (2003), "Central Banks and Financial Stability: Exploring a Land in Between", The Transformation of the European Financial System, Ed: V. Gaspar, P. Hartmann, O. Sleijpen, European Central Bank, Germany, http://www.ecb.int/pub/ pdf/other/ transformationeuropeanfinancialsystemen.pdf, 01.04.2011, pp.269-310.
  • Paya, M. (2007), Para Teorisi ve Politikası, Gözden Geçirilmiş ve Genişletilmiş 4. Baskı, Filiz Kitabevi, İstanbul, 2007.
  • Schinasi, G. J. (2003), "Responsibility o f Central Banks for Stability in Financial Markets", IMF Working Paper, No.03/121, http://www.imf.org/external/pubs/ft/wp/2003/wp03121.pdf, 05.05.2011.
  • Schinasi, G. J. (2004), "Defining Financial Stability", IMF Working Paper, No. 04/187, http://www.imf.org/external/pubs/ft/wp/2004/wp04187.pdf, 03.05.2011.
  • Sinclair, P. J. N. (2000), "Central Banks and Financial Stability", Bank of England Quarterly Bulletin, Vol.40, pp. 377-391.
  • TCMB (2005), "Enflasyon Hedeflemesi Rejiminin Genel Çerçevesi ve 2006 Yılında Para ve Kur Politikası", http://www.tcmb.gov.tr/yeni/duyuru/2005/DUY2005-56.pdf, 15.05.2011.
  • TCMB (2008), "Enflasyon Raporu 2008-I", http://www.tcmb.gov.tr/research/parapol/enfocak2008.pdf, 19.05.2011.
  • TCMB (2009), "Enflasyon Raporu 2009-I", http://www.tcmb.gov.tr/research/parapol/enfocak2009.pdf, 19.05.2011.
  • TCMB (2010), "Finansal İstikrar Raporu-Mayıs 2010", http://www.tcmb.gov.tr/yeni/evds/yayin/ fmist/Fir_TamMetin10.pdf, 20.05.2011.
  • TCMB (2011a), "TÜFE Değişim Oranları ve Enflasyon Hedefleri", www.tcmb.gov.tr, 18.05.2011.
  • TCMB (2011b), "GSYİH Yıllık Artış Oranları", www.tcmb.gov.tr, 18.05.2011.
  • TCMB (2011c), "Enflasyon Raporu 2011-I", http://www.tcmb.gov.tr/research/parapol/enfocak2011.pdf, 10.05.2011.
  • TCMB (2011d), "Enflasyon Raporu 2011-11", http://www.tcmb.gov.tr/research/parapol/enfnisan2011_tam.pdf, 10.05.2011.
  • TCMB (2011e), "Ödemeler Dengesi İstatistikleri", www.tcmb.gov.tr, 20.05.2011.
  • TCMB (2011f), "Mevduat Bankaları Tüketici Kredileri", www.tcmb.gov.tr, 20.05.2011.
  • TCMB (2011g), "Merkez Bankası Analitik Bilançosu", www.tcmb.gov.tr, 20.05.2011.
  • TCMB (2011h), "Finansal İstikrar Raporu-Mayıs 2011", http://www.tcmb.gov.tr/yeni/evds/yayin/ finist/Fir_TamMetin12.pdf, 30.05.2011.
  • Wadhwani, S. (2008), "Should Monetary Policy Respond to Asset Price Bubbles? Revisiting the Debate?", National Institute Economic Review, Vol.206, No.1, pp.25-34.

Year 2011, Volume: 61 Issue: 2, 51 - 81, 14.11.2011

Doç. Dr. Seyhun Doğan Arş. Gör. Dr. Çiğdem Tunalı

Abstract

References

  • Allen, W. A.-G. Wood (2006), "Defining and Achieving Financial Stability", Journal of Financial Stability, Vol.2, Iss.2, pp.152-172.
  • Başçı, E.-H. Kara (2011), "Finansal İstikrar ve Para Politikası", Merkez Bankası Çalışma Tebliği, No. 11/08, http://www.tcmb.gov.tr/research/discus/2011/WP1108.pdf, 02.05.2011.
  • Borio, C. (2005), "Monetary and Financial Stability: So Close and Yet So Far?", National Institute Economic Review, No.192, pp. 84-101.
  • Borio, C. (2006), "Monetary and Financial Stability: Here to Stay?", Journal of Banking and Finance, Vol. 30, Iss.12, pp. 3407-3414.
  • Borio, C.-M. Drehmann (2009), "Towards an Operational Framework for Financial Stability: "Fuzzy" Measurement and Its Consequences", BIS Working Papers, No. 284, http://www.bis.org/publ/work284.pdf, 01.04.2011.
  • CMk , M. (2006), "How Do Central Banks Write on Financial Stability?", IMF Working Paper, No. 06/163, http://www.imf.org/external/pubs/ft/wp/2006/wp06163.pdf, 05.05.2011.
  • Crockett, A. (2003), "Central Banking Under Test?", Monetary Stability, Financial Stability and the Business Cycle: Five Views, BIS Papers No.18, http://www.bis.org/publ/ bppdfbispap18.pdf, 21.03.2011.
  • Cuaresma, J. C.-E. Gnan (2008), "Four Monetary Policy Strategies in Comparison: How to Deal with Financial Instability?", Monetary Policy & the Economy Q3/08, http://www.oenb.at/en/img/mop_2008_3_cuaresma_gnan_tcm16-92369.pdf, 20.04.2011.
  • Das, D. K. (2010), "Globalisation: Past and Present", Economic Affairs, Vol. 30, Iss.1, pp.66-70.
  • De Gregorio, J. (2010), "Monetary Policy and Financial Stability: An Emerging Markets Perspective", International Finance, Vol.13, Iss.1, pp. 141-156.
  • Delice, G. (2007), Uluslararası Finansal Kuruluşlar ve Finansal İstikrar Sorunu, 1. Basım, Nobel Yayın Dağıtım, Ankara.
  • Doğan, S. (2009), "Küreselleşme, Finansal Kriz Olgusu ve İstikrar", Güncel Ekonomik Sorunlar: Global Kriz, Ed: S. Uzunoğlu, Literatür Yayınları, İstanbul, s.17-46.
  • Estrella, A. (2001), "Dealing with Financial Instability: The Central Bank's Tool Kit" , Economic Review ,http://www.riksbank.com/upload/Dokument_riksbank/Kat_publicerat/Artiklar_P V/er01_2_artikel4.pdf, 05.04.2011, pp.34-49.
  • Gudmundsson, M . (2008), "Financial Globalisation: Key Trends and Implications for the Transmission Mechanism o f Monetary Policy", Financial Market Developments and Their Implications for Monetary Policy, BIS Papers No.39, http://www.bis.org/publ/bppdf/bispap39c.pdf, 20.03.2011.
  • Ho, C.-R. N. Mc Cauley (2003), "Living with Flexible Exchange Rates: Issues and Recent Experience in Inflation Targeting Emerging Market Economies", BIS Working Papers, Working Paper No.130, http://www.bis.org/publ/work130.pdf, 01.04.2011.
  • Houben, A.-J. Kakes-G. Schinasi (2004), "Towards a Framework for Safeguarding Financial Stability", IMF Working Paper, Working Paper No. 04/101, http://www.imf.org/ external/pubs/ft/wp/2004/wp04101 .pdf, 25.04.2011.
  • Issing, O. (2003), "Monetary and Financial Stability: Is There a Trade-off?", Monetary Stability, Financial Stability and the Business Cycle: Five Views, BIS Papers No.18, http://www.bis.org/publ/bppdf/bispap18.pdf, 25.03.2011.
  • Issing, O. (2011), "Lessons for Monetary Policy: What Should the Consensus Be?", IMF Working Paper, Working Paper No.11/97, http://www.imf.org/external /pubs/ft/wp/2011/wp1197.pdf, 07.05.2011.
  • Kara, A. H. (2006), "Turkish Experience with Implicit Inflation Targeting", Central Bank of Turkey Research and Monetary Policy Department Working Paper, Working Paper No.06/03, http://www.tcmb.gov.tr/research/discus/WP0603.pdf, 15.05.2011.
  • Koch, E. (2000), Globalisierung der Wirtschaft, Verlag Franz Vahlen, München/Deutschland.
  • Oosterloo, S.-J. De Haan (2004), "Central Banks and Financial Stability: A Survey", Journal of Financial Stability, Vol.1, Iss.2, pp.257-273.
  • Padoa-Schioppa, T. (2003), "Central Banks and Financial Stability: Exploring a Land in Between", The Transformation of the European Financial System, Ed: V. Gaspar, P. Hartmann, O. Sleijpen, European Central Bank, Germany, http://www.ecb.int/pub/ pdf/other/ transformationeuropeanfinancialsystemen.pdf, 01.04.2011, pp.269-310.
  • Paya, M. (2007), Para Teorisi ve Politikası, Gözden Geçirilmiş ve Genişletilmiş 4. Baskı, Filiz Kitabevi, İstanbul, 2007.
  • Schinasi, G. J. (2003), "Responsibility o f Central Banks for Stability in Financial Markets", IMF Working Paper, No.03/121, http://www.imf.org/external/pubs/ft/wp/2003/wp03121.pdf, 05.05.2011.
  • Schinasi, G. J. (2004), "Defining Financial Stability", IMF Working Paper, No. 04/187, http://www.imf.org/external/pubs/ft/wp/2004/wp04187.pdf, 03.05.2011.
  • Sinclair, P. J. N. (2000), "Central Banks and Financial Stability", Bank of England Quarterly Bulletin, Vol.40, pp. 377-391.
  • TCMB (2005), "Enflasyon Hedeflemesi Rejiminin Genel Çerçevesi ve 2006 Yılında Para ve Kur Politikası", http://www.tcmb.gov.tr/yeni/duyuru/2005/DUY2005-56.pdf, 15.05.2011.
  • TCMB (2008), "Enflasyon Raporu 2008-I", http://www.tcmb.gov.tr/research/parapol/enfocak2008.pdf, 19.05.2011.
  • TCMB (2009), "Enflasyon Raporu 2009-I", http://www.tcmb.gov.tr/research/parapol/enfocak2009.pdf, 19.05.2011.
  • TCMB (2010), "Finansal İstikrar Raporu-Mayıs 2010", http://www.tcmb.gov.tr/yeni/evds/yayin/ fmist/Fir_TamMetin10.pdf, 20.05.2011.
  • TCMB (2011a), "TÜFE Değişim Oranları ve Enflasyon Hedefleri", www.tcmb.gov.tr, 18.05.2011.
  • TCMB (2011b), "GSYİH Yıllık Artış Oranları", www.tcmb.gov.tr, 18.05.2011.
  • TCMB (2011c), "Enflasyon Raporu 2011-I", http://www.tcmb.gov.tr/research/parapol/enfocak2011.pdf, 10.05.2011.
  • TCMB (2011d), "Enflasyon Raporu 2011-11", http://www.tcmb.gov.tr/research/parapol/enfnisan2011_tam.pdf, 10.05.2011.
  • TCMB (2011e), "Ödemeler Dengesi İstatistikleri", www.tcmb.gov.tr, 20.05.2011.
  • TCMB (2011f), "Mevduat Bankaları Tüketici Kredileri", www.tcmb.gov.tr, 20.05.2011.
  • TCMB (2011g), "Merkez Bankası Analitik Bilançosu", www.tcmb.gov.tr, 20.05.2011.
  • TCMB (2011h), "Finansal İstikrar Raporu-Mayıs 2011", http://www.tcmb.gov.tr/yeni/evds/yayin/ finist/Fir_TamMetin12.pdf, 30.05.2011.
  • Wadhwani, S. (2008), "Should Monetary Policy Respond to Asset Price Bubbles? Revisiting the Debate?", National Institute Economic Review, Vol.206, No.1, pp.25-34.
There are 39 citations in total.

Details

Primary Language Turkish
Journal Section Articles
Authors

Doç. Dr. Seyhun Doğan This is me

Arş. Gör. Dr. Çiğdem Tunalı This is me

Publication Date November 14, 2011
Published in Issue Year 2011 Volume: 61 Issue: 2

Cite

APA Doğan, D. D. S., & Tunalı, A. G. D. Ç. (2011). KÜRESELLEŞME SÜRECİNDE FİNANSAL İSTİKRAR-PARA POLİTİKASI İLİŞKİSİ: TÜRKİYE İÇİN BİR DEĞERLENDİRME (2001 KRİZİ SONRASI). İstanbul Üniversitesi İktisat Fakültesi Mecmuası, 61(2), 51-81.
AMA Doğan DDS, Tunalı AGDÇ. KÜRESELLEŞME SÜRECİNDE FİNANSAL İSTİKRAR-PARA POLİTİKASI İLİŞKİSİ: TÜRKİYE İÇİN BİR DEĞERLENDİRME (2001 KRİZİ SONRASI). İstanbul Üniversitesi İktisat Fakültesi Mecmuası. November 2011;61(2):51-81.
Chicago Doğan, Doç. Dr. Seyhun, and Arş. Gör. Dr. Çiğdem Tunalı. “KÜRESELLEŞME SÜRECİNDE FİNANSAL İSTİKRAR-PARA POLİTİKASI İLİŞKİSİ: TÜRKİYE İÇİN BİR DEĞERLENDİRME (2001 KRİZİ SONRASI)”. İstanbul Üniversitesi İktisat Fakültesi Mecmuası 61, no. 2 (November 2011): 51-81.
EndNote Doğan DDS, Tunalı AGDÇ (November 1, 2011) KÜRESELLEŞME SÜRECİNDE FİNANSAL İSTİKRAR-PARA POLİTİKASI İLİŞKİSİ: TÜRKİYE İÇİN BİR DEĞERLENDİRME (2001 KRİZİ SONRASI). İstanbul Üniversitesi İktisat Fakültesi Mecmuası 61 2 51–81.
IEEE D. D. S. Doğan and A. G. D. Ç. Tunalı, “KÜRESELLEŞME SÜRECİNDE FİNANSAL İSTİKRAR-PARA POLİTİKASI İLİŞKİSİ: TÜRKİYE İÇİN BİR DEĞERLENDİRME (2001 KRİZİ SONRASI)”, İstanbul Üniversitesi İktisat Fakültesi Mecmuası, vol. 61, no. 2, pp. 51–81, 2011.
ISNAD Doğan, Doç. Dr. Seyhun - Tunalı, Arş. Gör. Dr. Çiğdem. “KÜRESELLEŞME SÜRECİNDE FİNANSAL İSTİKRAR-PARA POLİTİKASI İLİŞKİSİ: TÜRKİYE İÇİN BİR DEĞERLENDİRME (2001 KRİZİ SONRASI)”. İstanbul Üniversitesi İktisat Fakültesi Mecmuası 61/2 (November 2011), 51-81.
JAMA Doğan DDS, Tunalı AGDÇ. KÜRESELLEŞME SÜRECİNDE FİNANSAL İSTİKRAR-PARA POLİTİKASI İLİŞKİSİ: TÜRKİYE İÇİN BİR DEĞERLENDİRME (2001 KRİZİ SONRASI). İstanbul Üniversitesi İktisat Fakültesi Mecmuası. 2011;61:51–81.
MLA Doğan, Doç. Dr. Seyhun and Arş. Gör. Dr. Çiğdem Tunalı. “KÜRESELLEŞME SÜRECİNDE FİNANSAL İSTİKRAR-PARA POLİTİKASI İLİŞKİSİ: TÜRKİYE İÇİN BİR DEĞERLENDİRME (2001 KRİZİ SONRASI)”. İstanbul Üniversitesi İktisat Fakültesi Mecmuası, vol. 61, no. 2, 2011, pp. 51-81.
Vancouver Doğan DDS, Tunalı AGDÇ. KÜRESELLEŞME SÜRECİNDE FİNANSAL İSTİKRAR-PARA POLİTİKASI İLİŞKİSİ: TÜRKİYE İÇİN BİR DEĞERLENDİRME (2001 KRİZİ SONRASI). İstanbul Üniversitesi İktisat Fakültesi Mecmuası. 2011;61(2):51-8.