GELİŞMEKTE OLAN ÜLKELERDE KREDİYE ERİŞİM DİNAMİKLERİ: ÖZEL SEKTÖRE VERİLEN KREDİLERİN BELİRLEYİCİLERİ ÜZERİNE AMPİRİK BİR ANALİZ

Öz

Özel sektör, iş ve istihdam olanakları sağlayarak yoksulluğun azaltılmasına, yenilikçi iş fikirlerinin doğması ve uygulanmasıyla girişimcilik kültürünün gelişmesine, yeni teknolojilerin geliştirilmesi ile bilgi birikiminin artmasına sağladıkları katkılar ile ülke ekonomisinin kalkınma süreçlerinde en önemli unsurlardan birisidir. Özel sektörün bu katkıları sağlama noktasında karşılaştığı en büyük sorunlardan birisi finansman ihtiyacıdır. Sermaye yetersizliği ile betimlenen gelişmekte olan ülkelerde, özel sektörün finansman ihtiyacı daha da önem kazanmaktadır. Özel sektöre verilen krediler yoluyla kaynak transferi üretimi, tüketimi ve sermaye oluşumu sağlanır. Ancak bu kaynak transferi üzerinde nelerin etkili olduğunu belirlemek bu sürecin etkinliği ve verimliliği açısından oldukça önemlidir. Bu çalışmada 2002-2021 döneminde 54 gelişen ve yükselen ülke verilerinden elde edilen örneklem bağlamında özel sektöre verilen yurtiçi krediler üzerinde enflasyon, finansal gelişim ve hukukun üstünlüğünün rollerine ilişkin ampirik kanıtlar elde edilmesi amaçlanmıştır. Sistem GMM dinamik panel veri tahmincisi ile elde edilen sonuçlara göre özel sektöre verilen krediler üzerinde finansal gelişmişlik, hukukun üstünlüğü değişkenleri anlamlı ve pozitif yönlü etkiye sahipken, enflasyon değişkeni anlamlı ve negatif yönlü bir etki ortaya koymuştur.

Anahtar Kelimeler

• özel sektöre verilen krediler
• finansal gelişim
• enflasyon
• hukukun üstünlüğü
• sistem GMM

THE DYNAMICS OF CREDIT ACCESS IN DEVELOPING COUNTRIES: AN EMPIRICAL ANALYSIS ON THE DETERMINANTS OF CREDIT TO THE PRIVATE SECTOR

Öz

The private sector is a crucial element in a country's economic development process, contributing to poverty reduction by creating jobs and providing employment opportunities. It also fosters the development of an entrepreneurial culture through the emergence and implementation of innovative business ideas, as well as the development of new technologies and an increase in knowledge. One of the biggest challenges the private sector faces in providing these contributions is the need for financing. In developing countries characterized by capital shortages, the private sector’s financing needs become even more crucial. Resource transfers through loans to the private sector facilitate production, consumption, and capital formation. However, determining the factors influencing this resource transfer is crucial for the effectiveness and efficiency of this process. This study seeks to offer empirical proof on the roles of inflation, financial development, and the rule of law on domestic credit to the private sector, based on a dataset of 54 developing and emerging countries from 2002 to 2021. The system GMM dynamic panel data estimator results show that financial development and a strong rule of law have a substantial and positive impact on credit to the private sector, whereas inflation has a considerable and negative impact.

Anahtar Kelimeler

• credit to the private sector
• financial development
• inflation
• rule of law
• system GMM

Kaynakça

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