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Commercial Credit Conditions and Export Performance in Türkiye: ARDL Bounds Testing Approach

Sayı: 21 25 Ağustos 2026
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Commercial Credit Conditions and Export Performance in Türkiye: ARDL Bounds Testing Approach

Öz

This study examines the relationship between commercial credit conditions and export performance in Türkiye within the framework of financing cost and access-to-finance channels. Since export activities require a substantial amount of working capital due to production, inventory, logistics, and deferred-payment sales processes, credit conditions become an important factor for export performance. In this context, the commercial loan interest rate represents the financing cost channel, while commercial loan volume represents the access-to-finance channel. In addition, the real effective exchange rate is included in the model to control for price competitiveness, and the industrial production index to control for production capacity. The study uses monthly data for the 2012M07–2026M02 period and analyzes the short- and long-run relationships among the variables through the ARDL bounds testing approach. The empirical findings indicate the existence of a long-run relationship among the variables. According to the long-run coefficient estimates, commercial loan interest rates and the real effective exchange rate are negatively associated with the export volume index, whereas commercial loan volume and the industrial production index are positively associated with it. The short-run findings also support the significance of the financing cost, access-to-finance, price competitiveness, and production capacity channels for export performance. The results suggest that export performance in Türkiye should be assessed not only in relation to exchange rate developments, but also together with credit conditions and production capacity.

Anahtar Kelimeler

Export Performance, Commercial Loans, Real Effective Exchange Rate, Industrial Production, ARDL Bound Test

Kaynakça

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  6. Aydaş, M., & Canbaloğlu, B. (2024). The impact of real effective exchange rate on Turkish export performance: An ARDL application. AYBU Business Journal, 4(2), 1–44.
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  10. Clark, P., Tamirisa, N., & Wei, S.-J. (2004). Exchange rate volatility and trade flows: Some new evidence. International Monetary Fund.

Kaynak Göster

APA
Özçiftçi, H. (2026). Commercial Credit Conditions and Export Performance in Türkiye: ARDL Bounds Testing Approach. Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 21, 1-23. https://doi.org/10.25287/ohuiibf.1944825
AMA
1.Özçiftçi H. Commercial Credit Conditions and Export Performance in Türkiye: ARDL Bounds Testing Approach. ÖHÜİİBFD. 2026;(21):1-23. doi:10.25287/ohuiibf.1944825
Chicago
Özçiftçi, Hamza. 2026. “Commercial Credit Conditions and Export Performance in Türkiye: ARDL Bounds Testing Approach”. Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, sy 21: 1-23. https://doi.org/10.25287/ohuiibf.1944825.
EndNote
Özçiftçi H (01 Ağustos 2026) Commercial Credit Conditions and Export Performance in Türkiye: ARDL Bounds Testing Approach. Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 21 1–23.
IEEE
[1]H. Özçiftçi, “Commercial Credit Conditions and Export Performance in Türkiye: ARDL Bounds Testing Approach”, ÖHÜİİBFD, sy 21, ss. 1–23, Ağu. 2026, doi: 10.25287/ohuiibf.1944825.
ISNAD
Özçiftçi, Hamza. “Commercial Credit Conditions and Export Performance in Türkiye: ARDL Bounds Testing Approach”. Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. 21 (01 Ağustos 2026): 1-23. https://doi.org/10.25287/ohuiibf.1944825.
JAMA
1.Özçiftçi H. Commercial Credit Conditions and Export Performance in Türkiye: ARDL Bounds Testing Approach. ÖHÜİİBFD. 2026;:1–23.
MLA
Özçiftçi, Hamza. “Commercial Credit Conditions and Export Performance in Türkiye: ARDL Bounds Testing Approach”. Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, sy 21, Ağustos 2026, ss. 1-23, doi:10.25287/ohuiibf.1944825.
Vancouver
1.Hamza Özçiftçi. Commercial Credit Conditions and Export Performance in Türkiye: ARDL Bounds Testing Approach. ÖHÜİİBFD. 01 Ağustos 2026;(21):1-23. doi:10.25287/ohuiibf.1944825