Araştırma Makalesi
BibTex RIS Kaynak Göster

Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak

Yıl 2020, Cilt: 28 Sayı: 46, 117 - 140, 31.10.2020
https://doi.org/10.17233/sosyoekonomi.2020.04.06

Öz

Finansal sistemin istikrar durumu ve reel ekonomiye olan etkisi bir tartışma konusudur. Çalışmanın amacı finansal sistemin istikrar durumunun reel ekonomi üzerindeki etkisini araştırmak ve karşılıklı asimetrik etkileri ortaya koymaktır. Bu doğrultuda, Türkiye’de finansal sistemin istikrar durumunun ölçümlenmesi için toplu finansal istikrar endeksi 2004-2017 çeyreklik dönemine yönelik geliştirilmiştir. İlgili endeks hem küresel hem de yerel ekonomik hâdiseleri yansıtması bakımından dönemin iyi bir temsilcisidir. Değişkenlerin birim kök özelliklerinden kaynaklı olarak doğrusal ARDL modelinin kullanılmasına karar verilmiştir. Finansal sistemin istikrar ve istikrarsızlık durumlarının ayrı ayrı analiz edilmesi amacıyla doğrusal olmayan ARDL modeli ve Hatemi-J asimetrik nedensellik testi kullanılmıştır. İlgili dönemde finansal istikrar reel ekonomiyi istikrarsızlıktan daha çok etkilemektedir.

Kaynakça

  • Albulescu, C. & K. Breznik & V. Dermol (2016), “What We Understand by Financial Stability: Text Analysis with Network Approach”, Managing Innovation and Diversity in Knowledge Society Through Turbulent Time Proceedings of the MakeLearn and TIIM Joint International Conference, Timisoara, 943-951.
  • Albulescu, C.T. (2008), “Assessing Romanian Financial Sector Stability: The Importance of the International Economic Climate”, MPRA Paper, 16581, Munich.
  • Albulescu, C.T. (2010), “Forecasting The Romanian Financial System Stability Using A Stochastic Simulation Model”, Romanian Journal of Economic Forecasting, 13(1), 81-98.
  • Albulescu, C.T. (2012), “Financial Stability, Monetary Policy and Budgetary Coordination in EMU”, Theoretical and Applied Economics, 8(573), 85-96.
  • Anatolyevna, M.I. & S.L. Ramilevna (2013), “Financial Stability Concept: Main Characteristics and Tools”, World Applied Sciences Journal, 22(6), 856-858.
  • Bahmani-Oskooee, M. & N. Bose & Y. Zhang (2017), “Aymmetric Cointegration, Nonlinear ARDL and the J-Curve: A Bilateral Analysis of China and its 21 Trading Partners”, Emerging Markets Finance and Trade, 54(13), 3131-3151. Bank of England (2017), Annual Report and Accounts, London, <https://www.bankofengland.co.uk/-/media/boe/files/annual-report/2017/boe-2017.pdf?la=en&hash=E221A208FBD6BF5F95AEF2E468BC2FD135EF8525#page=38>, 15.09.2017.
  • BDDK (2018), Aylık Bankacılık Sektörü Verileri, Ankara: Bankacılık Düzenleme ve Denetleme Kurumu, <http://www.bddk.org.tr/BultenAylik>, 15.10.2018.
  • Bogdan, B. & G.R. Maria & I.D. Cecilia & S.L. Ana-Maria (2010), “Monetary Stability Versus Financial Stability in Adjusting the Real Economy”, Facultatea de Economie și de Administrare a Afacerilor, 678-684.
  • Brown, S. (2016), Measures of Shape: Skewness and Kurtosis, BrownMath, <https://brownmath.com/stat/shape.htm>, 15.10.2018.
  • Ces-ifo (2018), Ifo World Economic Climate, Munich: Center for Economic Studies Group, <https://www.cesifo-group.de/ifoHome/facts/Survey-Results/World-Economic-Survey/World-Economic-Climate.html>, 15.10.2018.
  • Cheang, N. & I. Choy (2010), “Aggregate Financial Stability Index for an Early Warning System”, Monetary Authority of Macao, <http://docplayer.net/16676843-Aggregate-financial-stability-index-for-an-early-warning-system.html>, 15.10.2016.
  • Çağlar, A.E. (2015), “Yapısal Kırılmalı Birim Kök Testlerinin Küçük Örneklem Özelliklerinin Karşılaştırılması”, Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Yüksek Lisans Tezi, Denizli.
  • Darıcı, B. (2010), “Kısa Vadeli Para Politikası Aracı Olarak Faiz Düzleştirme Kuralı: Teorik ve Metodolojik Yaklaşım”, BDDK Bankacılık ve Finansal Piyasalar, 4(2), 39-66.
  • Darıcı, B. (2012), “Finansal İstikrar ve Finansal İstikrar Yönelik Kamusal Sorumluluk Çerçevesinde Para Politikası: Türkiye Analizi”, TBB Bankacılar Dergisi, (83), 1-198.
  • Eğilmez, M. (2016), GSYH Hesaplaması Değişti Kişi Başına Gelirimiz Arttı, Kendime Yazılar, <http://www.mahfiegilmez.com/2016/12/gsyh-hesaplamas-degisti-kisi-basna.html>, 15.03.2017.
  • Esenyel, N.M. (2017), “Türkiye’de Enerji Yakınsama Hiptezinin Sınanması: Yapısal Kırılmalı Birim Kök Analizi”, Social Sciences Research Journal, 6(3), 42-52.
  • Fell, J. & G. Schinasi (2005), “Assessing Financial Stability: Exploring The Boundaries of Analysis”, National Institute Economic Review, (192), 102-117.
  • Fidanoski, F. & D. Lazarov & K. Simeonovski & B. Sergi (2018), “Where Macroeconomic and Financial Instability Meets Economic Growth in Macedonia?”, WEA Online Conference, Bank of England, London.
  • Hacker, S. & A. Hatemi-J (2012), “A Bootstrap Test for Causality with Endogenous Lag Length Choice: Theory and Application in Finance”, Journal of Economic Studies, 39(2), 144-160.
  • Houben, A. & J. Kakes & G. Schinasi (2004), “Toward a Framework for Safeguarding Financial Stability”, IMF Working Paper, 101, Washington DC.
  • IFS (2018), Gross Domestic Product and Components Selected Indicators, IMF: International Financial Statistics, <http://data.imf.org/regular.aspx?key=61545852>, 15.10.2018.
  • İçen, H. (2018), “Doğrusal Olmayan ARDL Yaklaşımı ile Eş-bütünleşme ve Bir Uygulama”, Çukurova Üniversitesi Sosyal Bilimler Yüksek Lisans Tezi, Adana.
  • Karagöl, E. & E. Erbaykal & H.M. Ertuğrul (2007), “Türkiye’de Ekonomik Büyüme ile Elektrik Tüketimi İlişkisi: Sınır Testi Yaklaşımı”, Doğuş Üniversitesi Dergisi, 8(1), 72-80.
  • Karanovic, G. & B. Karanovic (2015), “Developing an Aggregate Index for Measuring Financial Stability in the Balkans”, Procedia Economics and Finance, (33), 3-17.
  • Kondratovs, K. (2012), “Modelling Financial Stability Index for Latvian Financial System”, Regional Formation and Development Studies, 3(8), 118-129.
  • Lee, J. & M.C. Strazicich (2013), “Minimum LM Unit Root Test with One Structural Break”, Economics Bulletin, 33(4), 2483-2492.
  • Manolescu, C.M. & E. Manolescu (2017), “The Financial Stability Index: An Insight into the Financial and Economic Conditions of Romania”, Theoretical and Applied Economics, 24(4), 5-24.
  • Morris, V.C. (2010), Measuring and Forecasting Financial Stability: The Composition of an Aggregate Financial Stability Index for Jamaica, Kingston: Bank Of Jamaica.
  • Muhasebat (2018), Genel Yönetim Mali İstatistikleri, T.C. Maliye Bakanlığı Muhasebat Genel Müdürlüğü, <https://www.muhasebat.gov.tr/content/genel-yonetim-mali-istatistikleri>, 15.10.2018.
  • Narayan, P.K. (2005), “The Saving and Investment nexus for China: Evidence from Cointegration Tests”, Applied Economics, 37(17), 1979-1990.
  • Narayan, S. & P.K. Narayan (2004), “Determinants of Demand for Fiji’s Exports: An Empirical Investigation”, The Developing Economics, 43(1), 95-112.
  • Nazlıoğlu, Ş. & S. Kayhan & U. Adıgüzel (2013), “Electricity Consumption and Economic Growth in Turkey: Cointegration and Nonlinear Granger Causality”, Energy Sources, Part B: Economics, Planning, and Policy, 9(4), 315-324.
  • Nazlıoğlu, Ş. (2011), “World Oil and Agricultural Commodity Prices: Evidence from Nonlinear Causality”, Energy Policy, (39), 2935-2943.
  • Oesterreichische Nationalbank (2016), Financial Stability Report, No.31, Vienna, <https://www.oenb.at/en/Publications/Financial-Market/Financial-Stability-Report/2016/financial-stability-report-31.html>, 15.06.2017.
  • Pesaran, M.H. & Y. Shin & R.J. Smith (2001), “Bounds Testing Approaches to the Analysis of Level Relationships”, Journal of Applied Econometrics, (16), 289-326.
  • Pesaran, M.H. & Y. Shin (1997), “An Autoregressive Distributed-Lag Modelling Approach to Cointegration Analysis”, Econometrics and Economic Theory in the 20th Century, 371-413.
  • Sanar, F. & M. Kara (2016), “Finansal İstikrar Kavramı ve Türkiye için Finansal İstikrar Endeksi Önerisi”, Ekonomik Yaklaşım, 27(101), 111-160.
  • Schinasi, G. (2004), “Defining Financial Stability”, IMF Working Paper, 187, Washington DC.
  • Schinasi, G. (2005a), Safeguarding Financial Stability: Theory and Practice, Washington DC: International Monetary Fund.
  • Schinasi, G. (2005b), “Preserving Financial Stability”, IMF Economic Issue, 36, Washington DC.
  • Shahbaz, M. & S.J. Shahzad & N. Ahmad & S. Alam (2016), “Financial Development and Environmental Quality: The Way Forward”, Energy Policy, (98), 353-364.
  • Shin, Y. & B. Yu & M. Greenwood-Nimmo (2014), “Modelling Asymmetric Cointegration and Dynamic Multipliers in a Nonlinear ARDL Framework”, in: R.C. Sickles & W.C. Horrace (eds.), Festrschrift in Honor of Peter Schmidt: Econometric Methods and Applications, New York: Springer, 281-314.
  • Simionescu, M. & M. Niculae & M. Nedelut (2014), “An Econometric Model for Financial Stability Indicators”, Knowledge Horizons-Economics, 6(1), 167-171.
  • Staniuleniene, G.K. (2015), “Financial Stability and its Impact on Financial Stability in Lithuania and Other New Member States of the European Union”, Ekonomika, 94(2), 28-46.
  • Summer, M. (2002), Banking Regulation and Systemic Risk, Oesterreichische Nationalbank, 57, Vienna. TCMB (2018), Elektronik Veri Dağıtım Sistemi, Ankara: Türkiye Cumhuriyet Merkez Bankası, <https://evds2.tcmb.gov.tr/index.php?/evds/serieMarket>, 15.10.2018.
  • TCMB (2020), Finansal İstikrar, Ankara: Türkiye Cumhuriyet Merkez Bankası, <https://tcmb.gov.tr/wps/wcm/connect/TR/TCMB+TR/Main+Menu/Temel+Faaliyetler/Para+Politikasi/Finansal+Istikrar/>, 05.07.2020.
  • Thornton, H. (1802), An Inquiry into the Nature and Effects of the Paper Credit of Great Britain, New York: Reprints of Economic Classics.
  • Toda, H.Y. & T. Yamamoto (1995), “Statistical Inferences in Vector Autoregressions with Possibly Integrated Processes”, Journal of Econometrics, (66), 225-250.
  • TÜİK (2018), Konularına Göre İstatistikler, Ankara: Türkiye İstatistik Kurumu, <http://tuik.gov.tr/UstMenu.do?metod=kategorist>, 15.10.2018.
  • Türkiye Bankalar Birliği (2018), Veri Sorgulama Sistemi, <https://www.tbb.org.tr/tr/bankacilik/banka-ve-sektor-bilgileri/veri-sorgulama-sistemi/60>, 15.10.2018.
  • Volcker, P. (1984), “The Federal Reserve Position on Restructing of Financial Regulation Responsibilities”, in Federal Reserve Bulletin, Washington DC: Federal Reserve Bank of St Louis, 547-557.
  • Weber, A. (2008), Financial Market Stability, London School of Economics, 1-17.
  • Wooldridge, J.M. (2013), Introductory Econometrics: A Modern Approach, Ohio: South-Western Cengage Learning.
  • Yılancı, V. (2009), “Yapısal Kırılmalar Altında Türkiye için İşsizlik Histerisinin Sınanması”, Doğuş Üniversitesi Dergisi, 10(2), 324-335.
  • Zielinska, K. (2016), “Financial Stability in the Eurozone”, Comparative Economic Research-Central and Eastern Europe, 19(1), 157-177.
  • Zivot, E. & D.W. Andrews (1992), “Further Evidence on the Great Crash, the Oil-Price Shock, and the Unit-Root Hypothesis”, Journal of Business & Economic Statistics, 10(3), 251-270.

The Impact of Financial Stability on Real Economy in Turkey: Based on Linear and Non-Linear ARDL Models

Yıl 2020, Cilt: 28 Sayı: 46, 117 - 140, 31.10.2020
https://doi.org/10.17233/sosyoekonomi.2020.04.06

Öz

The stability situation of financial system and its impact on real economy is a discussion subject. The aim of the study is to investigate the impact of stability situation of financial system on real economy and reveal reciprocal asymmetric effects between each other. For this purpose, composite financial stability index is developed in order to gauge stability situation of Turkey’s financial system for the quarterly period of 2004-2017. It was seen that index is a good proxy of related period due to reflect domestic and global economic affairs. Linear ARDL model was determined based on unit root structures of variables. Non-linear ARDL model and Hatemi-J causality test were used to analyse stability and instability situations of financial system, separately. The findings indicate that financial stability affects real economy more than instability at the related period.

Kaynakça

  • Albulescu, C. & K. Breznik & V. Dermol (2016), “What We Understand by Financial Stability: Text Analysis with Network Approach”, Managing Innovation and Diversity in Knowledge Society Through Turbulent Time Proceedings of the MakeLearn and TIIM Joint International Conference, Timisoara, 943-951.
  • Albulescu, C.T. (2008), “Assessing Romanian Financial Sector Stability: The Importance of the International Economic Climate”, MPRA Paper, 16581, Munich.
  • Albulescu, C.T. (2010), “Forecasting The Romanian Financial System Stability Using A Stochastic Simulation Model”, Romanian Journal of Economic Forecasting, 13(1), 81-98.
  • Albulescu, C.T. (2012), “Financial Stability, Monetary Policy and Budgetary Coordination in EMU”, Theoretical and Applied Economics, 8(573), 85-96.
  • Anatolyevna, M.I. & S.L. Ramilevna (2013), “Financial Stability Concept: Main Characteristics and Tools”, World Applied Sciences Journal, 22(6), 856-858.
  • Bahmani-Oskooee, M. & N. Bose & Y. Zhang (2017), “Aymmetric Cointegration, Nonlinear ARDL and the J-Curve: A Bilateral Analysis of China and its 21 Trading Partners”, Emerging Markets Finance and Trade, 54(13), 3131-3151. Bank of England (2017), Annual Report and Accounts, London, <https://www.bankofengland.co.uk/-/media/boe/files/annual-report/2017/boe-2017.pdf?la=en&hash=E221A208FBD6BF5F95AEF2E468BC2FD135EF8525#page=38>, 15.09.2017.
  • BDDK (2018), Aylık Bankacılık Sektörü Verileri, Ankara: Bankacılık Düzenleme ve Denetleme Kurumu, <http://www.bddk.org.tr/BultenAylik>, 15.10.2018.
  • Bogdan, B. & G.R. Maria & I.D. Cecilia & S.L. Ana-Maria (2010), “Monetary Stability Versus Financial Stability in Adjusting the Real Economy”, Facultatea de Economie și de Administrare a Afacerilor, 678-684.
  • Brown, S. (2016), Measures of Shape: Skewness and Kurtosis, BrownMath, <https://brownmath.com/stat/shape.htm>, 15.10.2018.
  • Ces-ifo (2018), Ifo World Economic Climate, Munich: Center for Economic Studies Group, <https://www.cesifo-group.de/ifoHome/facts/Survey-Results/World-Economic-Survey/World-Economic-Climate.html>, 15.10.2018.
  • Cheang, N. & I. Choy (2010), “Aggregate Financial Stability Index for an Early Warning System”, Monetary Authority of Macao, <http://docplayer.net/16676843-Aggregate-financial-stability-index-for-an-early-warning-system.html>, 15.10.2016.
  • Çağlar, A.E. (2015), “Yapısal Kırılmalı Birim Kök Testlerinin Küçük Örneklem Özelliklerinin Karşılaştırılması”, Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Yüksek Lisans Tezi, Denizli.
  • Darıcı, B. (2010), “Kısa Vadeli Para Politikası Aracı Olarak Faiz Düzleştirme Kuralı: Teorik ve Metodolojik Yaklaşım”, BDDK Bankacılık ve Finansal Piyasalar, 4(2), 39-66.
  • Darıcı, B. (2012), “Finansal İstikrar ve Finansal İstikrar Yönelik Kamusal Sorumluluk Çerçevesinde Para Politikası: Türkiye Analizi”, TBB Bankacılar Dergisi, (83), 1-198.
  • Eğilmez, M. (2016), GSYH Hesaplaması Değişti Kişi Başına Gelirimiz Arttı, Kendime Yazılar, <http://www.mahfiegilmez.com/2016/12/gsyh-hesaplamas-degisti-kisi-basna.html>, 15.03.2017.
  • Esenyel, N.M. (2017), “Türkiye’de Enerji Yakınsama Hiptezinin Sınanması: Yapısal Kırılmalı Birim Kök Analizi”, Social Sciences Research Journal, 6(3), 42-52.
  • Fell, J. & G. Schinasi (2005), “Assessing Financial Stability: Exploring The Boundaries of Analysis”, National Institute Economic Review, (192), 102-117.
  • Fidanoski, F. & D. Lazarov & K. Simeonovski & B. Sergi (2018), “Where Macroeconomic and Financial Instability Meets Economic Growth in Macedonia?”, WEA Online Conference, Bank of England, London.
  • Hacker, S. & A. Hatemi-J (2012), “A Bootstrap Test for Causality with Endogenous Lag Length Choice: Theory and Application in Finance”, Journal of Economic Studies, 39(2), 144-160.
  • Houben, A. & J. Kakes & G. Schinasi (2004), “Toward a Framework for Safeguarding Financial Stability”, IMF Working Paper, 101, Washington DC.
  • IFS (2018), Gross Domestic Product and Components Selected Indicators, IMF: International Financial Statistics, <http://data.imf.org/regular.aspx?key=61545852>, 15.10.2018.
  • İçen, H. (2018), “Doğrusal Olmayan ARDL Yaklaşımı ile Eş-bütünleşme ve Bir Uygulama”, Çukurova Üniversitesi Sosyal Bilimler Yüksek Lisans Tezi, Adana.
  • Karagöl, E. & E. Erbaykal & H.M. Ertuğrul (2007), “Türkiye’de Ekonomik Büyüme ile Elektrik Tüketimi İlişkisi: Sınır Testi Yaklaşımı”, Doğuş Üniversitesi Dergisi, 8(1), 72-80.
  • Karanovic, G. & B. Karanovic (2015), “Developing an Aggregate Index for Measuring Financial Stability in the Balkans”, Procedia Economics and Finance, (33), 3-17.
  • Kondratovs, K. (2012), “Modelling Financial Stability Index for Latvian Financial System”, Regional Formation and Development Studies, 3(8), 118-129.
  • Lee, J. & M.C. Strazicich (2013), “Minimum LM Unit Root Test with One Structural Break”, Economics Bulletin, 33(4), 2483-2492.
  • Manolescu, C.M. & E. Manolescu (2017), “The Financial Stability Index: An Insight into the Financial and Economic Conditions of Romania”, Theoretical and Applied Economics, 24(4), 5-24.
  • Morris, V.C. (2010), Measuring and Forecasting Financial Stability: The Composition of an Aggregate Financial Stability Index for Jamaica, Kingston: Bank Of Jamaica.
  • Muhasebat (2018), Genel Yönetim Mali İstatistikleri, T.C. Maliye Bakanlığı Muhasebat Genel Müdürlüğü, <https://www.muhasebat.gov.tr/content/genel-yonetim-mali-istatistikleri>, 15.10.2018.
  • Narayan, P.K. (2005), “The Saving and Investment nexus for China: Evidence from Cointegration Tests”, Applied Economics, 37(17), 1979-1990.
  • Narayan, S. & P.K. Narayan (2004), “Determinants of Demand for Fiji’s Exports: An Empirical Investigation”, The Developing Economics, 43(1), 95-112.
  • Nazlıoğlu, Ş. & S. Kayhan & U. Adıgüzel (2013), “Electricity Consumption and Economic Growth in Turkey: Cointegration and Nonlinear Granger Causality”, Energy Sources, Part B: Economics, Planning, and Policy, 9(4), 315-324.
  • Nazlıoğlu, Ş. (2011), “World Oil and Agricultural Commodity Prices: Evidence from Nonlinear Causality”, Energy Policy, (39), 2935-2943.
  • Oesterreichische Nationalbank (2016), Financial Stability Report, No.31, Vienna, <https://www.oenb.at/en/Publications/Financial-Market/Financial-Stability-Report/2016/financial-stability-report-31.html>, 15.06.2017.
  • Pesaran, M.H. & Y. Shin & R.J. Smith (2001), “Bounds Testing Approaches to the Analysis of Level Relationships”, Journal of Applied Econometrics, (16), 289-326.
  • Pesaran, M.H. & Y. Shin (1997), “An Autoregressive Distributed-Lag Modelling Approach to Cointegration Analysis”, Econometrics and Economic Theory in the 20th Century, 371-413.
  • Sanar, F. & M. Kara (2016), “Finansal İstikrar Kavramı ve Türkiye için Finansal İstikrar Endeksi Önerisi”, Ekonomik Yaklaşım, 27(101), 111-160.
  • Schinasi, G. (2004), “Defining Financial Stability”, IMF Working Paper, 187, Washington DC.
  • Schinasi, G. (2005a), Safeguarding Financial Stability: Theory and Practice, Washington DC: International Monetary Fund.
  • Schinasi, G. (2005b), “Preserving Financial Stability”, IMF Economic Issue, 36, Washington DC.
  • Shahbaz, M. & S.J. Shahzad & N. Ahmad & S. Alam (2016), “Financial Development and Environmental Quality: The Way Forward”, Energy Policy, (98), 353-364.
  • Shin, Y. & B. Yu & M. Greenwood-Nimmo (2014), “Modelling Asymmetric Cointegration and Dynamic Multipliers in a Nonlinear ARDL Framework”, in: R.C. Sickles & W.C. Horrace (eds.), Festrschrift in Honor of Peter Schmidt: Econometric Methods and Applications, New York: Springer, 281-314.
  • Simionescu, M. & M. Niculae & M. Nedelut (2014), “An Econometric Model for Financial Stability Indicators”, Knowledge Horizons-Economics, 6(1), 167-171.
  • Staniuleniene, G.K. (2015), “Financial Stability and its Impact on Financial Stability in Lithuania and Other New Member States of the European Union”, Ekonomika, 94(2), 28-46.
  • Summer, M. (2002), Banking Regulation and Systemic Risk, Oesterreichische Nationalbank, 57, Vienna. TCMB (2018), Elektronik Veri Dağıtım Sistemi, Ankara: Türkiye Cumhuriyet Merkez Bankası, <https://evds2.tcmb.gov.tr/index.php?/evds/serieMarket>, 15.10.2018.
  • TCMB (2020), Finansal İstikrar, Ankara: Türkiye Cumhuriyet Merkez Bankası, <https://tcmb.gov.tr/wps/wcm/connect/TR/TCMB+TR/Main+Menu/Temel+Faaliyetler/Para+Politikasi/Finansal+Istikrar/>, 05.07.2020.
  • Thornton, H. (1802), An Inquiry into the Nature and Effects of the Paper Credit of Great Britain, New York: Reprints of Economic Classics.
  • Toda, H.Y. & T. Yamamoto (1995), “Statistical Inferences in Vector Autoregressions with Possibly Integrated Processes”, Journal of Econometrics, (66), 225-250.
  • TÜİK (2018), Konularına Göre İstatistikler, Ankara: Türkiye İstatistik Kurumu, <http://tuik.gov.tr/UstMenu.do?metod=kategorist>, 15.10.2018.
  • Türkiye Bankalar Birliği (2018), Veri Sorgulama Sistemi, <https://www.tbb.org.tr/tr/bankacilik/banka-ve-sektor-bilgileri/veri-sorgulama-sistemi/60>, 15.10.2018.
  • Volcker, P. (1984), “The Federal Reserve Position on Restructing of Financial Regulation Responsibilities”, in Federal Reserve Bulletin, Washington DC: Federal Reserve Bank of St Louis, 547-557.
  • Weber, A. (2008), Financial Market Stability, London School of Economics, 1-17.
  • Wooldridge, J.M. (2013), Introductory Econometrics: A Modern Approach, Ohio: South-Western Cengage Learning.
  • Yılancı, V. (2009), “Yapısal Kırılmalar Altında Türkiye için İşsizlik Histerisinin Sınanması”, Doğuş Üniversitesi Dergisi, 10(2), 324-335.
  • Zielinska, K. (2016), “Financial Stability in the Eurozone”, Comparative Economic Research-Central and Eastern Europe, 19(1), 157-177.
  • Zivot, E. & D.W. Andrews (1992), “Further Evidence on the Great Crash, the Oil-Price Shock, and the Unit-Root Hypothesis”, Journal of Business & Economic Statistics, 10(3), 251-270.
Toplam 56 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Makaleler
Yazarlar

Mesut Alper Gezer 0000-0001-9157-8833

Ramazan Kılıç 0000-0002-2484-7471

Yayımlanma Tarihi 31 Ekim 2020
Gönderilme Tarihi 13 Haziran 2019
Yayımlandığı Sayı Yıl 2020 Cilt: 28 Sayı: 46

Kaynak Göster

APA Gezer, M. A., & Kılıç, R. (2020). Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak. Sosyoekonomi, 28(46), 117-140. https://doi.org/10.17233/sosyoekonomi.2020.04.06
AMA Gezer MA, Kılıç R. Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak. Sosyoekonomi. Ekim 2020;28(46):117-140. doi:10.17233/sosyoekonomi.2020.04.06
Chicago Gezer, Mesut Alper, ve Ramazan Kılıç. “Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal Ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak”. Sosyoekonomi 28, sy. 46 (Ekim 2020): 117-40. https://doi.org/10.17233/sosyoekonomi.2020.04.06.
EndNote Gezer MA, Kılıç R (01 Ekim 2020) Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak. Sosyoekonomi 28 46 117–140.
IEEE M. A. Gezer ve R. Kılıç, “Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak”, Sosyoekonomi, c. 28, sy. 46, ss. 117–140, 2020, doi: 10.17233/sosyoekonomi.2020.04.06.
ISNAD Gezer, Mesut Alper - Kılıç, Ramazan. “Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal Ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak”. Sosyoekonomi 28/46 (Ekim 2020), 117-140. https://doi.org/10.17233/sosyoekonomi.2020.04.06.
JAMA Gezer MA, Kılıç R. Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak. Sosyoekonomi. 2020;28:117–140.
MLA Gezer, Mesut Alper ve Ramazan Kılıç. “Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal Ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak”. Sosyoekonomi, c. 28, sy. 46, 2020, ss. 117-40, doi:10.17233/sosyoekonomi.2020.04.06.
Vancouver Gezer MA, Kılıç R. Türkiye’de Finansal İstikrarın Reel Ekonomiye Etkisi: Doğrusal ve Doğrusal Olmayan ARDL Modellemelerine Dayalı Olarak. Sosyoekonomi. 2020;28(46):117-40.