Year 2019, Volume , Issue 24, Pages 131 - 150 2019-07-24

THE ENDOGENOUS MONEY HYPOTHESIS: AN EMPIRICAL ANALYSIS FOR TURKEY (2006-2018)
PARA ARZININ İÇSELLİĞİ HİPOTEZİ: TÜRKİYE İÇİN AMPİRİK BİR ANALİZ (2006-2018)

Asuman KOÇ YURTKUR [1]

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The idea of the hypothesis of the money supply as a theory is based on the Post Keynesians. This hypothesis suggests that there is a causal relationship between credit and money supply and monetary base in an economy. With the developing financial system and financial innovations, the endogeneity of money supply is one of the priority issues to be studied. For this reason it is important to consider the endogeneity of money supply in a theoretical and empirical context. In this study, the hypothesis of endogeneity money supply for Turkey's economy was investigated by Toda-Yamamoto and Bootstrap Toda-Yamamoto causality analysis procedures for the period 2006-2018. Empirical findings show that there is a causal relationship between credit and money supply, monetary base and money multiplier. There is also a causal relationship from money supply to credit. In this case, the bidirectional causality relationship between credit and money multiplier supports the view of liquidity preference regarding the endogeneity of money supply.

Para arzının içselliğinin tartışılması eskilere dayanan bir konu olmasına rağmen, bir teori olarak ele alınması Post Keynesyen İktisatçılar’a dayanmaktadır. Para arzının içselliği hipotezinde Post Keynesyen İktisatçılar, bir ekonomide kredi ile para arzı ve parasal taban arasında bir nedensellik ilişkisinin olduğunu ileri sürmektedirler. Bu çalışmada 2006-2018 dönemi aylık verileri kullanılarak Türkiye ekonomisi için para arzının içselliği hipotezi araştırılmaktadır. Analizde yöntem olarak Toda-Yamamoto nedensellik prosedürü ve Bootstrap Toda-Yamamoto nedensellik analizi prosedürü kullanılmaktadır. Ampirik bulgular, krediden para arzına, parasal tabana ve para çarpanına doğru bir nedensellik ilişkisi olduğunu göstermektedir. Ayrıca para arzından krediye doğru da bir nedensellik ilişkisi söz konusudur. Bu durumda, kredi ile para çarpanı arasındaki çift yönlü nedensellik ilişkisi, para arzının içselliği ile ilgili likidite tercihi görüşünü desteklemektedir.

Para Arzının İçselliği Hipotezi, Uyumcu Görüş, Yapısalcı Görüş, Likidite Tercihi Görüşü
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Primary Language tr
Subjects Social
Journal Section Articles
Authors

Orcid: 0000-0001-8366-4280
Author: Asuman KOÇ YURTKUR
Institution: Bülent Ecevit Üniversitesi İİBF
Country: Turkey


Dates

Publication Date: July 24, 2019

Bibtex @research article { ulikidince539915, journal = {Uluslararası İktisadi ve İdari İncelemeler Dergisi}, issn = {1307-9832}, eissn = {1307-9859}, address = {Kenan ÇELİK}, year = {2019}, volume = {}, pages = {131 - 150}, doi = {10.18092/ulikidince.539915}, title = {PARA ARZININ İÇSELLİĞİ HİPOTEZİ: TÜRKİYE İÇİN AMPİRİK BİR ANALİZ (2006-2018)}, key = {cite}, author = {KOÇ YURTKUR, Asuman} }
APA KOÇ YURTKUR, A . (2019). PARA ARZININ İÇSELLİĞİ HİPOTEZİ: TÜRKİYE İÇİN AMPİRİK BİR ANALİZ (2006-2018). Uluslararası İktisadi ve İdari İncelemeler Dergisi, (24), 131-150. DOI: 10.18092/ulikidince.539915
MLA KOÇ YURTKUR, A . "PARA ARZININ İÇSELLİĞİ HİPOTEZİ: TÜRKİYE İÇİN AMPİRİK BİR ANALİZ (2006-2018)". Uluslararası İktisadi ve İdari İncelemeler Dergisi (2019): 131-150 <http://dergipark.org.tr/ulikidince/issue/47284/539915>
Chicago KOÇ YURTKUR, A . "PARA ARZININ İÇSELLİĞİ HİPOTEZİ: TÜRKİYE İÇİN AMPİRİK BİR ANALİZ (2006-2018)". Uluslararası İktisadi ve İdari İncelemeler Dergisi (2019): 131-150
RIS TY - JOUR T1 - PARA ARZININ İÇSELLİĞİ HİPOTEZİ: TÜRKİYE İÇİN AMPİRİK BİR ANALİZ (2006-2018) AU - Asuman KOÇ YURTKUR Y1 - 2019 PY - 2019 N1 - doi: 10.18092/ulikidince.539915 DO - 10.18092/ulikidince.539915 T2 - Uluslararası İktisadi ve İdari İncelemeler Dergisi JF - Journal JO - JOR SP - 131 EP - 150 VL - IS - 24 SN - 1307-9832-1307-9859 M3 - doi: 10.18092/ulikidince.539915 UR - https://doi.org/10.18092/ulikidince.539915 Y2 - 2019 ER -
EndNote %0 International Journal of Economics and Administrative Studies PARA ARZININ İÇSELLİĞİ HİPOTEZİ: TÜRKİYE İÇİN AMPİRİK BİR ANALİZ (2006-2018) %A Asuman KOÇ YURTKUR %T PARA ARZININ İÇSELLİĞİ HİPOTEZİ: TÜRKİYE İÇİN AMPİRİK BİR ANALİZ (2006-2018) %D 2019 %J Uluslararası İktisadi ve İdari İncelemeler Dergisi %P 1307-9832-1307-9859 %V %N 24 %R doi: 10.18092/ulikidince.539915 %U 10.18092/ulikidince.539915
ISNAD KOÇ YURTKUR, Asuman . "PARA ARZININ İÇSELLİĞİ HİPOTEZİ: TÜRKİYE İÇİN AMPİRİK BİR ANALİZ (2006-2018)". Uluslararası İktisadi ve İdari İncelemeler Dergisi / 24 (July 2019): 131-150. https://doi.org/10.18092/ulikidince.539915
AMA KOÇ YURTKUR A . PARA ARZININ İÇSELLİĞİ HİPOTEZİ: TÜRKİYE İÇİN AMPİRİK BİR ANALİZ (2006-2018). IJEAS. 2019; (24): 131-150.
Vancouver KOÇ YURTKUR A . PARA ARZININ İÇSELLİĞİ HİPOTEZİ: TÜRKİYE İÇİN AMPİRİK BİR ANALİZ (2006-2018). Uluslararası İktisadi ve İdari İncelemeler Dergisi. 2019; (24): 150-131.