Türkiye’de Kredi ve İhracat Arasındaki İlişki: İslami ve Konvansiyonel Bankaların Karşılaştırmalı Analizi
Yıl 2021,
Cilt: 8 Sayı: 1, 43 - 58, 15.01.2021
Etem Ergeç
,
Bengül Gülümser Kaytancı
Öz
Finansal akımlar, ekonomik faaliyetleri ve ihracatı etkileme potansiyeline sahiptir. Bu çalışmada, 2006-2019 dönemi için hem toplam hem de orta-uzun vadeli krediler ile ihracat arasındaki nedensellik ilişkileri birçok ihracatçı imalat sanayi sektörü için Toda-Yamamoto yöntemiyle araştırılmıştır. Üretime ve reel sektöre aktarılan fonların payı İslami bankalar için düşük olmasına rağmen, konvansiyonel bankalara kıyasla İslami banka kredilerinin ihracat üzerinde daha güçlü bir nedensel etkisi vardır.
Kaynakça
- Abduh, M. & Chowdhury, N. T. (2012). Does Islamic banking matter for economic growth in Bangladesh. Journal of Islamic Economics Banking and Finance, 8(3), 104-113.
- Abidin, I. S. Z. & Haseeb M. (2018). Malaysia-GCC Bilateral trade, macroeconomic indicators and Islamic finance linkages: A Gravity model approach. Academy of Accounting and Financial Studies Journal, 22, 1-7.
- Agosin, M. R., Alvarez, R., & Bravo‐Ortega, C. (2012). Determinants of export diversification around the world: 1962–2000. The World Economy, 35(3), 295-315.
- Akgündüz, Y.E. and Fendoğlu, S. (July 2020). Mikro veri ile ihracatta ithal girdi kullanımının tahmini [Available online at: https://tcmbblog.org/wps/wcm/connect/blog/tr/main+menu/analizler /mikro+veri+ile+ihracatta+ithal+girdi +kullaniminin+tahmini], (Retrieved on September 1, 2020)
- Anagaw, B. K., & Demissie, W. M. (2012). Determinants of export performance in Ethiopia: VAR model analysis. Journal of Research in Commerce & Management, 2(5), 94-109.
- Asutay, M. & Ergec, E. H. (2013). Financial development and economic performance nexus in the case of Islamic and conventional banks in Turkey: An Empirical analysis. 9th International Conference on Islamic Economics and Finance, Istanbul.
- Atici, G. (2018). Islamic (Participation) banking and economic growth: empirical focus on Turkey. Asian Economic and Financial Review, 8(11), 1354-1364.
- Banking Regulation and Supervision of Agency (BRSA)
- Beck, T. (2000). Financial dependence and international trade. The World Bank.
- Beck, T., Levine, R. & Loayza, N. (2000). Finance and the sources of growth. Journal of financial economics, 58(1-2), 261-300.
- Beck, T. (2002). Financial development and international trade: Is there a link? Journal of International Economics, 57(1), 107-131.
- Becker, B., & Greenberg, D. (2003). The real effects of finance: evidence from exports. School of Business, University of Chicago.
Becker, B., Chen, J., & Greenberg, D. (2013). Financial development, fixed costs, and international trade. The Review of Corporate Finance Studies, 2(1), 1-28.
- Choi, B. (2020). Financial development, endogenous dependence on external financing, and trade. Economica, 87(346), 530-587.
- Du, J., & Girma, S. (2007). Finance and firm export in China. Kyklos, 60(1), 37-54.
- Erduman, Y., Eren, O. & Gül , S. (2019) The Evolution of Import Content of Production and Exports in Turkey: 2002-2017, TCMB Working Paper No: 19/09
- Ergeç. E.H., (2019). Geleceğin Türkiye’sinde ekonomi. M.Taşdemir. (Ed.). İyi ve adil finans: İslami finans modeli, (77-100). İLKE Yayınları: 14, 81-86.
- Fauceglia, D. (2015). Credit constraints, firm exports and financial development: Evidence from developing countries. The Quarterly Review of Economics and Finance, 55, 53-66.
- Furqani, H. & Mulyany, R. (2009). Islamic Banking and economic growth: Empirical evidence from Malaysia, Journal of Economic Cooperation and Development, 30(2), 59-74.
- Granger, C.W.J. (1969). Investigating causal relations by econometric models and cross-spectral methods. Econometrica, 37(3), 424-438.
- Imam, P. & Kpodar, K. (2016) Islamic banking: Good for growth?, Economic Modelling, 59 (C), 387-401.
- Jawad A. & Christian K., (2019). Islamic banking And economic growth: Applying the conventional hypothesis, Journal of Islamic Monetary Economics and Finance, 5(1), 1-26.
- Jobarteh, M. & Ergec, E. H. (2017). Islamic finance development and economic growth: empirical evidence from Turkey. Turkish Journal of Islamic Economics, 4(1), 31- 47.
- Katılım Bankaları (2019) The Participation Banks Association of Turkey, [Available online at: https://tkbb.org.tr/Documents/Yonetmelikler/Katilim-Bankalari-2019.pdf], (Retrieved on September 1, 2020)
- King, R. G. & Levine, R. (1993). Finance and growth: Schumpeter might be right. The quarterly journal of economics, 108(3), 717-737.
- Kletzer, K. & Bardhan, P. (1987). Credit markets and patterns of international trade. Journal of Development Economics, 27(1-2), 57-70.
- Kumarasamy, D. & Singh, P. (2018). Access to finance, financial development and firm ability to export: experience from Asia–Pacific countries. Asian Economic Journal, 32(1), 15-38.
- Levine, R., Loayza, N. & Beck, T. (2000). Financial intermediation and growth: Causality and causes. Journal of monetary Economics, 46(1), 31-77.
- OECD Data, Import content of exports (https://data.oecd.org/trade/import-content-of-exports.htm#indicator-chartc)
- Rajan, R. & Zingales, L. (1998). Financial development and growth. American Economic Review, 88(3), 559-586.
- Shahbaz, M. & Rahman, M. M. (2014). Exports, financial development and economic growth in Pakistan. International Journal of Development Issues, 23(2), 155-170.
- Tabash, M.I. & Dhankar, R.S. (2014) Islamic banking and economic growth — A cointegration approach, Romanian Economic Journal, 17(53), 61-90.
- The Banks 2019, The Banks Association of Turkey (2020). No:336, İstanbul
- Tok, E.Ö.a& Sevinç O. (2019), Üretimin İthal Girdi Yoğunluğu: Girdi-Çıktı Analizi. TCMB Ekonomi Notları, 2019-06.
- Toda, H. Y. & Yamamoto, T. (1995). Statistical inference in vector auto regressions with possibly integrated process. Journal of Econometrics, 66, 225-250.
- Tunay B. (2016). Causality relations between Islamic banking and economic growth. Yonetim ve Ekonomi 23(2), 485-502.
Relationship between Loans and Export in Turkey: Comparative Analysis of Islamic and Conventional Banks
Yıl 2021,
Cilt: 8 Sayı: 1, 43 - 58, 15.01.2021
Etem Ergeç
,
Bengül Gülümser Kaytancı
Öz
Financial flows have a potential to influence the economic activity and exports. In this study, causality relationships between both total loans and medium-long term loans and exports were investigated by the Toda-Yamamoto method for various exporting manufacturing industries in Turkey for the period 2006-2019. Although the share of funds directed to the real sector and production is low for Islamic banks, the loans supplied by Islamic banks have a stronger causal effect on exports compared to conventional banks.
Kaynakça
- Abduh, M. & Chowdhury, N. T. (2012). Does Islamic banking matter for economic growth in Bangladesh. Journal of Islamic Economics Banking and Finance, 8(3), 104-113.
- Abidin, I. S. Z. & Haseeb M. (2018). Malaysia-GCC Bilateral trade, macroeconomic indicators and Islamic finance linkages: A Gravity model approach. Academy of Accounting and Financial Studies Journal, 22, 1-7.
- Agosin, M. R., Alvarez, R., & Bravo‐Ortega, C. (2012). Determinants of export diversification around the world: 1962–2000. The World Economy, 35(3), 295-315.
- Akgündüz, Y.E. and Fendoğlu, S. (July 2020). Mikro veri ile ihracatta ithal girdi kullanımının tahmini [Available online at: https://tcmbblog.org/wps/wcm/connect/blog/tr/main+menu/analizler /mikro+veri+ile+ihracatta+ithal+girdi +kullaniminin+tahmini], (Retrieved on September 1, 2020)
- Anagaw, B. K., & Demissie, W. M. (2012). Determinants of export performance in Ethiopia: VAR model analysis. Journal of Research in Commerce & Management, 2(5), 94-109.
- Asutay, M. & Ergec, E. H. (2013). Financial development and economic performance nexus in the case of Islamic and conventional banks in Turkey: An Empirical analysis. 9th International Conference on Islamic Economics and Finance, Istanbul.
- Atici, G. (2018). Islamic (Participation) banking and economic growth: empirical focus on Turkey. Asian Economic and Financial Review, 8(11), 1354-1364.
- Banking Regulation and Supervision of Agency (BRSA)
- Beck, T. (2000). Financial dependence and international trade. The World Bank.
- Beck, T., Levine, R. & Loayza, N. (2000). Finance and the sources of growth. Journal of financial economics, 58(1-2), 261-300.
- Beck, T. (2002). Financial development and international trade: Is there a link? Journal of International Economics, 57(1), 107-131.
- Becker, B., & Greenberg, D. (2003). The real effects of finance: evidence from exports. School of Business, University of Chicago.
Becker, B., Chen, J., & Greenberg, D. (2013). Financial development, fixed costs, and international trade. The Review of Corporate Finance Studies, 2(1), 1-28.
- Choi, B. (2020). Financial development, endogenous dependence on external financing, and trade. Economica, 87(346), 530-587.
- Du, J., & Girma, S. (2007). Finance and firm export in China. Kyklos, 60(1), 37-54.
- Erduman, Y., Eren, O. & Gül , S. (2019) The Evolution of Import Content of Production and Exports in Turkey: 2002-2017, TCMB Working Paper No: 19/09
- Ergeç. E.H., (2019). Geleceğin Türkiye’sinde ekonomi. M.Taşdemir. (Ed.). İyi ve adil finans: İslami finans modeli, (77-100). İLKE Yayınları: 14, 81-86.
- Fauceglia, D. (2015). Credit constraints, firm exports and financial development: Evidence from developing countries. The Quarterly Review of Economics and Finance, 55, 53-66.
- Furqani, H. & Mulyany, R. (2009). Islamic Banking and economic growth: Empirical evidence from Malaysia, Journal of Economic Cooperation and Development, 30(2), 59-74.
- Granger, C.W.J. (1969). Investigating causal relations by econometric models and cross-spectral methods. Econometrica, 37(3), 424-438.
- Imam, P. & Kpodar, K. (2016) Islamic banking: Good for growth?, Economic Modelling, 59 (C), 387-401.
- Jawad A. & Christian K., (2019). Islamic banking And economic growth: Applying the conventional hypothesis, Journal of Islamic Monetary Economics and Finance, 5(1), 1-26.
- Jobarteh, M. & Ergec, E. H. (2017). Islamic finance development and economic growth: empirical evidence from Turkey. Turkish Journal of Islamic Economics, 4(1), 31- 47.
- Katılım Bankaları (2019) The Participation Banks Association of Turkey, [Available online at: https://tkbb.org.tr/Documents/Yonetmelikler/Katilim-Bankalari-2019.pdf], (Retrieved on September 1, 2020)
- King, R. G. & Levine, R. (1993). Finance and growth: Schumpeter might be right. The quarterly journal of economics, 108(3), 717-737.
- Kletzer, K. & Bardhan, P. (1987). Credit markets and patterns of international trade. Journal of Development Economics, 27(1-2), 57-70.
- Kumarasamy, D. & Singh, P. (2018). Access to finance, financial development and firm ability to export: experience from Asia–Pacific countries. Asian Economic Journal, 32(1), 15-38.
- Levine, R., Loayza, N. & Beck, T. (2000). Financial intermediation and growth: Causality and causes. Journal of monetary Economics, 46(1), 31-77.
- OECD Data, Import content of exports (https://data.oecd.org/trade/import-content-of-exports.htm#indicator-chartc)
- Rajan, R. & Zingales, L. (1998). Financial development and growth. American Economic Review, 88(3), 559-586.
- Shahbaz, M. & Rahman, M. M. (2014). Exports, financial development and economic growth in Pakistan. International Journal of Development Issues, 23(2), 155-170.
- Tabash, M.I. & Dhankar, R.S. (2014) Islamic banking and economic growth — A cointegration approach, Romanian Economic Journal, 17(53), 61-90.
- The Banks 2019, The Banks Association of Turkey (2020). No:336, İstanbul
- Tok, E.Ö.a& Sevinç O. (2019), Üretimin İthal Girdi Yoğunluğu: Girdi-Çıktı Analizi. TCMB Ekonomi Notları, 2019-06.
- Toda, H. Y. & Yamamoto, T. (1995). Statistical inference in vector auto regressions with possibly integrated process. Journal of Econometrics, 66, 225-250.
- Tunay B. (2016). Causality relations between Islamic banking and economic growth. Yonetim ve Ekonomi 23(2), 485-502.