BibTex RIS Kaynak Göster

Türkiye’de Banka Kredi Kanalının İşleyişi: Ampirik Bir Analiz

Yıl 2011, Cilt: 18 Sayı: 2, 127 - 143, 01.06.2011

Osman Peker Birgül Canbazoğlu

Öz

Anahtar Kelimeler

-

Kaynakça

  • BANKACILIK DÜZENLEME ve DENETLEME KURUMU (BDDK) (2007), Finansal Piyasalar Raporu, Aralık 2007, http://www.bddk.org.tr.
  • BERK, J. M. (2001), The Preparation of Monetary Policy Essays on a Multi-Model Approach, The Netherlands, Kluwer Academic Publishers.
  • BERNANKE, B. S. ve S. A. BİLİNDER (1988), “Credit Money and Aggregate Demand”, The American Economic Review, 78(2): 435-439.
  • BERNANKE, B. S. ve M. GERTLER (1995), “Inside the Black Box: The Credit Channel of Monetary Policy Transmission”, The Journal of Economic Perspectives, 9(4): 27-48.
  • BERNANKE, B. S. (1995), “A Conference Panel Discussion: What Do We Know About How Monetary Policy Effects The Economy”, Federal Reserve Bank of St. Louis Review, 77(3): 127-30.
  • BERNANKE, B. S. ve S. A. BLİNDER (1992), “The Federal Funds Rate and the Channels of Monetary Transmission”, The American Economic Review, 82(4): 901-921.
  • CECCHETTI, S. G. (1995), “Distinguishing Theories of the Monetary Transmission Mechanism”, Federal Reserve Bank of St. Louis Review, May/June: 83-97.
  • CECCHETTI, S. G. (1999), “Legal Structure, Financial Structure, and Monetary Policy Transmission Mechanism”, FRBNY Economic Policy Review, 5(2): 9-28.
  • CENGİZ, V. ve M. DUMAN (2008), “Türkiye’de Banka Kredi Kanalının Önemi Üzerine Etki Tepki Fonksiyonlarına Dayalı Bir Değerlendirme (1990-2006)”, Hacettepe Üniversitesi İ.İ.B.F Dergisi, 26(2): 81-104.
  • CHAREZMA, W. W. ve D. F. DEADMAN (1993). New Directions in Econometric Practice. USA: Edward Elgar.
  • ÇİÇEK, M. (2005), “Türkiye’de Parasal Aktarım Mekanizması: VAR (vektör Otoregresyon) Yaklaşımıyla Analizi”, İktisat İşletme ve Finans Dergisi, 20(233): 82-105.
  • DAVİDSON, R. ve J. G. MACKINNON (1993), Estimation and Inference in Econometrics, London: Oxford University Press.
  • DEMİRALP, S. (2008), “Parasal Aktarım Mekanizmasında Paranın Yeri: Türkiye İçin Bir Analiz”, İktisat İşletme ve Finans Dergisi, 23(264): 5-20.
  • ENDERS, W. (1995), Applied Econometric Time Series, John Willey and Song, Inc.
  • GRANGER, C. W. J. (1969), “Investigating Causal Relations by Econometric Models and Cross- Spectral Methods”, Econometrica, 37(3): 424-438.
  • GUJARATI, D. N. (1995), Basic Econometrics, McGraw-Hill, Third Edition.
  • GÜNDÜZ, L. (2001), “Türkiye’de Parasal Aktarım Mekanizması ve Banka Kredi Kanalı”, İMKB Dergisi, 5(18): 13-30.
  • HALL, S. (2001). http://www.bankofengland.co.uk/publications/quarterlybulletin/qb010404.pdf. HOLTEMÖLLER, O. (2002), : http://www.econometricsociety.org/meetings/esem02/cdrom/papers/669/Crch-ger.pdf.
  • HOLTEMÖLLER, O. (2003), “Further VAR Evidence for the Effectiveness of a Credit Channel in Germany”, Applied Economics Quarterly, 49 (4): 359–381.
  • HULSEWIG, O. MAYER, E. ve T. WOLLMERSHAUSER (2006), “Bank Loan Supply and Monetary Policy Transmission in Germany: An Assessment Based on Matching Impulse Responses”, Journal of Banking & Finance, 30(10): 2893-2910. IRELAND, P. N. (2005), http://escholarship.bc.edu/cgi/viewcontent.cgi?article=1172&context=econ_papers. PDF.
  • JAIN, L. C. ve I. M. TOMIC (1995), Essential of Monetary and Fiscal Economics, NewYork: Graceway Publishing Company, Inc.
  • JOHANSEN, S. (1995), Likelihood Based Inference in Cointegrating Vector Autoregressive Models, NewYork: Oxford University Press.
  • KASHYAP, A. K. Ve J. C. STEIN (1995), “The Impact of Monetary Policy on Bank Balance Sheets”, Carnegie-Rochester Conference Series on Public Policy, 42(June): 151-195.
  • KASHYAP, A. K. ve J. C. STEIN (2000), “What Do a Million Observations on Banks Say about the Transmission of Monetary Policy?”, American Economic Review, 90(3): 407-428.
  • KASHYAP, A. K. LAMONT, O. A. ve J. C. STEIN (1994), “Credit Conditions and the Cyclical Behavior of Inventories”, The Quarterly Journal of Economics, 109(3): 565-592.
  • KISHAN R. P. ve T. P. OPİELA (2000), “Bank Size, Bank Capital, and the Bank Lending Channel”, Journal of Money, Credit and Banking, 32(1): 121-141.
  • LÜTKEPOHL, H. (1991), Introduction to Multiple Time Series Analysis, Berlin: Springer-Verlag.
  • MELTZER, A. H. (1995), “Monetary, Credit and (Other) Transmission Processes: A Monetarist Perspective”, The Journal of Economic Perspectives, 9(4): 49-72.
  • MORGAN, D. P. (1998), “The Credit Effects of Monetary Policy: Evidence Using Loan Commitments”, Journal of Money, Credit and Banking, 30(1): 102-118.
  • OECD, (2009), http://www.oecd.org/dataoecd/37/37/33705673.pdf.
  • Oliner, S. D. Ve Rudebusch, G. D.. (1996). http://www.frbsf.org/econrsrch/econrev/96-1/3-13.pdf.
  • OPIELA, T. P. (2007), “Differential Deposit Guarantees and the Effect of Monetary Policy on Bank Lending”, Economics Inquiry, 46(4): 610-623.
  • ÖZTÜRKLER, H. ve A. H. ÇERMİKLİ (2007), “Türkiye’de Bir Parasal Aktarım Kanalı Olarak Banka Kredileri”, Finans Politik & Ekonomik Yorumlar, 44(514): 57 68.
  • PESARAN, M. H. ve Y. Shin (1998), “Generalised Impulse Response Analysis in Linear Multivariate Models”, Economics Letters, 58(1): 17-29.
  • ROMER, C. D., ROMER, D. H., GOLDFELD, S. M. ve B. M. FRIEDMAN (1990), “New Evidence on the Monetary Transmission Mechanism”, Brookings Papers on Economic Activity, 1990(1): 149-213.
  • SIMS, C. A. (1992), “Interpreting The Macroeconomic Time Series Facts the Effects of Monetary Policy”, European Economic Review, 36(5): 975-1011.
  • SIMS, C.A. (1980), “Macroeconomics and Reality”, Econometrica, 48(1): 1-49.
  • SUZUKI, T. (2004), “Is the Lending Channel of Monetary Policy Dominant in Australia?”, The Economic Record, 80(249): 145-156.
  • SUZUKI, T. (2008), http://amw2008.econ.usyd.edu.au/pdfs/B-4_Tomoya%20Suzuki.pdf.
  • ŞENGÖNÜL, A. ve W. THORBECKE (2005), “The Effect of Monetary Policy on Bank Lending in Turkey”, Applied Financial Economics, 15(13): 931-934.
  • TAYLOR, J. B. (1995), “The Monetary Transmission Mechanism: An Emprical Framework”, The Journal of Economic Perspectives, 9(4): 11-26.
  • TÜRKİYE BANKALAR BİRLİĞİ (TBB) (2005), Türkiye’de Finansal Sektör ve Bankacılık Sistemi, Türkiye Bankalar Birliği Yayını, İstanbul.
  • TÜRKİYE CUMHURİYET MERKEZ BANKASI (TCMB) (2006) http://www.tcmb.gov.tr.
  • TÜRKİYE CUMHURİYET MERKEZ BANKASI (TCMB) (2009) http://www.tcmb.gov.tr.

Türkiye’de Banka Kredi Kanalının İşleyişi: Ampirik Bir Analiz

Yıl 2011, Cilt: 18 Sayı: 2, 127 - 143, 01.06.2011

Osman Peker Birgül Canbazoğlu

Öz

Bu çalışmada, Türkiye’de banka kredi kanalının işleyişi, vektör otoregresif (vector autoregression: VAR) yöntemi yardımıyla, 1990:01-2008:11 dönemi aylık verileri kullanılarak test edilmiştir. Banka kredi kanalının etkinliği farklı iki para politikası değişkeni temel alınarak araştırılmıştır. Çalışmanın ampirik bulgularına göre, para arzı, gecelik faize göre, daha etkin bir para politikası değişkeni olduğu tespit edilmiştir. Merkez Bankası, para arzını kontrol etmesi durumunda, banka kredi kanalını etkin bir şekilde işletebilir ve dolayısıyla çıktı miktarı ve enflasyonu daha koloy yönlendirebilir. Bu bağlamda, Türkiye’de banka kredi kanalının işleyişinin etkin olduğu söylenebilir

Anahtar Kelimeler

Banka Kredi Kanalı VAR Türkiye

Kaynakça

  • BANKACILIK DÜZENLEME ve DENETLEME KURUMU (BDDK) (2007), Finansal Piyasalar Raporu, Aralık 2007, http://www.bddk.org.tr.
  • BERK, J. M. (2001), The Preparation of Monetary Policy Essays on a Multi-Model Approach, The Netherlands, Kluwer Academic Publishers.
  • BERNANKE, B. S. ve S. A. BİLİNDER (1988), “Credit Money and Aggregate Demand”, The American Economic Review, 78(2): 435-439.
  • BERNANKE, B. S. ve M. GERTLER (1995), “Inside the Black Box: The Credit Channel of Monetary Policy Transmission”, The Journal of Economic Perspectives, 9(4): 27-48.
  • BERNANKE, B. S. (1995), “A Conference Panel Discussion: What Do We Know About How Monetary Policy Effects The Economy”, Federal Reserve Bank of St. Louis Review, 77(3): 127-30.
  • BERNANKE, B. S. ve S. A. BLİNDER (1992), “The Federal Funds Rate and the Channels of Monetary Transmission”, The American Economic Review, 82(4): 901-921.
  • CECCHETTI, S. G. (1995), “Distinguishing Theories of the Monetary Transmission Mechanism”, Federal Reserve Bank of St. Louis Review, May/June: 83-97.
  • CECCHETTI, S. G. (1999), “Legal Structure, Financial Structure, and Monetary Policy Transmission Mechanism”, FRBNY Economic Policy Review, 5(2): 9-28.
  • CENGİZ, V. ve M. DUMAN (2008), “Türkiye’de Banka Kredi Kanalının Önemi Üzerine Etki Tepki Fonksiyonlarına Dayalı Bir Değerlendirme (1990-2006)”, Hacettepe Üniversitesi İ.İ.B.F Dergisi, 26(2): 81-104.
  • CHAREZMA, W. W. ve D. F. DEADMAN (1993). New Directions in Econometric Practice. USA: Edward Elgar.
  • ÇİÇEK, M. (2005), “Türkiye’de Parasal Aktarım Mekanizması: VAR (vektör Otoregresyon) Yaklaşımıyla Analizi”, İktisat İşletme ve Finans Dergisi, 20(233): 82-105.
  • DAVİDSON, R. ve J. G. MACKINNON (1993), Estimation and Inference in Econometrics, London: Oxford University Press.
  • DEMİRALP, S. (2008), “Parasal Aktarım Mekanizmasında Paranın Yeri: Türkiye İçin Bir Analiz”, İktisat İşletme ve Finans Dergisi, 23(264): 5-20.
  • ENDERS, W. (1995), Applied Econometric Time Series, John Willey and Song, Inc.
  • GRANGER, C. W. J. (1969), “Investigating Causal Relations by Econometric Models and Cross- Spectral Methods”, Econometrica, 37(3): 424-438.
  • GUJARATI, D. N. (1995), Basic Econometrics, McGraw-Hill, Third Edition.
  • GÜNDÜZ, L. (2001), “Türkiye’de Parasal Aktarım Mekanizması ve Banka Kredi Kanalı”, İMKB Dergisi, 5(18): 13-30.
  • HALL, S. (2001). http://www.bankofengland.co.uk/publications/quarterlybulletin/qb010404.pdf. HOLTEMÖLLER, O. (2002), : http://www.econometricsociety.org/meetings/esem02/cdrom/papers/669/Crch-ger.pdf.
  • HOLTEMÖLLER, O. (2003), “Further VAR Evidence for the Effectiveness of a Credit Channel in Germany”, Applied Economics Quarterly, 49 (4): 359–381.
  • HULSEWIG, O. MAYER, E. ve T. WOLLMERSHAUSER (2006), “Bank Loan Supply and Monetary Policy Transmission in Germany: An Assessment Based on Matching Impulse Responses”, Journal of Banking & Finance, 30(10): 2893-2910. IRELAND, P. N. (2005), http://escholarship.bc.edu/cgi/viewcontent.cgi?article=1172&context=econ_papers. PDF.
  • JAIN, L. C. ve I. M. TOMIC (1995), Essential of Monetary and Fiscal Economics, NewYork: Graceway Publishing Company, Inc.
  • JOHANSEN, S. (1995), Likelihood Based Inference in Cointegrating Vector Autoregressive Models, NewYork: Oxford University Press.
  • KASHYAP, A. K. Ve J. C. STEIN (1995), “The Impact of Monetary Policy on Bank Balance Sheets”, Carnegie-Rochester Conference Series on Public Policy, 42(June): 151-195.
  • KASHYAP, A. K. ve J. C. STEIN (2000), “What Do a Million Observations on Banks Say about the Transmission of Monetary Policy?”, American Economic Review, 90(3): 407-428.
  • KASHYAP, A. K. LAMONT, O. A. ve J. C. STEIN (1994), “Credit Conditions and the Cyclical Behavior of Inventories”, The Quarterly Journal of Economics, 109(3): 565-592.
  • KISHAN R. P. ve T. P. OPİELA (2000), “Bank Size, Bank Capital, and the Bank Lending Channel”, Journal of Money, Credit and Banking, 32(1): 121-141.
  • LÜTKEPOHL, H. (1991), Introduction to Multiple Time Series Analysis, Berlin: Springer-Verlag.
  • MELTZER, A. H. (1995), “Monetary, Credit and (Other) Transmission Processes: A Monetarist Perspective”, The Journal of Economic Perspectives, 9(4): 49-72.
  • MORGAN, D. P. (1998), “The Credit Effects of Monetary Policy: Evidence Using Loan Commitments”, Journal of Money, Credit and Banking, 30(1): 102-118.
  • OECD, (2009), http://www.oecd.org/dataoecd/37/37/33705673.pdf.
  • Oliner, S. D. Ve Rudebusch, G. D.. (1996). http://www.frbsf.org/econrsrch/econrev/96-1/3-13.pdf.
  • OPIELA, T. P. (2007), “Differential Deposit Guarantees and the Effect of Monetary Policy on Bank Lending”, Economics Inquiry, 46(4): 610-623.
  • ÖZTÜRKLER, H. ve A. H. ÇERMİKLİ (2007), “Türkiye’de Bir Parasal Aktarım Kanalı Olarak Banka Kredileri”, Finans Politik & Ekonomik Yorumlar, 44(514): 57 68.
  • PESARAN, M. H. ve Y. Shin (1998), “Generalised Impulse Response Analysis in Linear Multivariate Models”, Economics Letters, 58(1): 17-29.
  • ROMER, C. D., ROMER, D. H., GOLDFELD, S. M. ve B. M. FRIEDMAN (1990), “New Evidence on the Monetary Transmission Mechanism”, Brookings Papers on Economic Activity, 1990(1): 149-213.
  • SIMS, C. A. (1992), “Interpreting The Macroeconomic Time Series Facts the Effects of Monetary Policy”, European Economic Review, 36(5): 975-1011.
  • SIMS, C.A. (1980), “Macroeconomics and Reality”, Econometrica, 48(1): 1-49.
  • SUZUKI, T. (2004), “Is the Lending Channel of Monetary Policy Dominant in Australia?”, The Economic Record, 80(249): 145-156.
  • SUZUKI, T. (2008), http://amw2008.econ.usyd.edu.au/pdfs/B-4_Tomoya%20Suzuki.pdf.
  • ŞENGÖNÜL, A. ve W. THORBECKE (2005), “The Effect of Monetary Policy on Bank Lending in Turkey”, Applied Financial Economics, 15(13): 931-934.
  • TAYLOR, J. B. (1995), “The Monetary Transmission Mechanism: An Emprical Framework”, The Journal of Economic Perspectives, 9(4): 11-26.
  • TÜRKİYE BANKALAR BİRLİĞİ (TBB) (2005), Türkiye’de Finansal Sektör ve Bankacılık Sistemi, Türkiye Bankalar Birliği Yayını, İstanbul.
  • TÜRKİYE CUMHURİYET MERKEZ BANKASI (TCMB) (2006) http://www.tcmb.gov.tr.
  • TÜRKİYE CUMHURİYET MERKEZ BANKASI (TCMB) (2009) http://www.tcmb.gov.tr.
Toplam 44 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Makaleler
Yazarlar

Osman Peker Bu kişi benim

Birgül Canbazoğlu Bu kişi benim

Yayımlanma Tarihi 1 Haziran 2011
Yayımlandığı Sayı Yıl 2011 Cilt: 18 Sayı: 2

Kaynak Göster

APA Peker, O., & Canbazoğlu, B. (2011). Türkiye’de Banka Kredi Kanalının İşleyişi: Ampirik Bir Analiz. Yönetim Ve Ekonomi Dergisi, 18(2), 127-143.