TÜRKİYE'DE NAKİT TALEBİNİ ETKİLEYEN FAKTÖRLER

Öz

Bu çalışmada nakit talebini etkileyen faktörler hem toplamda hem de yüksek, orta ve düşük değerli banknotlar gruplandırması çerçevesinde analiz edilmiştir. Bulgular, gelirdeki artışın nakit talebinde artışa yol açtığını ve orta ve düşük değerli kupürlerin işlem amaçlı kullanımının daha yoğun olduğunu göstermektedir. Reel faizdeki artış nakit talebini düşürürken yüksek değerli banknotların talebinde daha güçlü etkisinin olması bu kupürlerin daha çok değer saklama aracı olarak talep edildiği ile ilişkilendirilmektedir. Bununla birlikte, kartlı harcamaların en çok orta değerli kupürler için ikame etkisi oluşturduğu sonucuna ulaşılmıştır. Ek olarak, finansal belirsizlikteki artış tüm kupür gruplarında nakit talebini artırırken; döviz kurlarındaki artışın nakit talebini negatif yönde etkilediği sonucuna ulaşılmıştır.

Anahtar Kelimeler

• Emisyon Hacmi
• Nakit Talebi
• Kupür Dağılımı

THE DETERMINANTS OF CASH DEMAND IN TURKEY

Öz

In this study, the factors affecting cash demand are analysed in total and within the framework of the high, medium, and low-value banknotes grouping. The findings show that the increase in income leads to an increase in demand for cash and the transactional use of medium and low-value denominations is higher than the high-value banknotes. While the real interest rate increase decreases the demand for cash, the more substantial effect on the demand for high-value banknotes is associated with the use as a store of value of that group. However, it was concluded that card payments mostly had a substitution effect for medium-value denominations. Additionally, while the increase in financial uncertainty increased the demand for cash in all denomination groups, the increase in exchange rates negatively affected the cash demand.

Anahtar Kelimeler

• Currency in Circulation
• Money Demand
• Currency Denomination

Kaynakça

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