Empirical analysis of the bank lending channel in Turkey

Key Findings & Data:The transmission channels of monetary policy may be gathered in five main titles: interest rates channel, asset prices channel, exchange rate channel, credit channel (bank lending channel, balance sheet channel) and expectation channel.

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Conclusion & Impact:According to the findings, the credit channel in Turkey operates partially.

🔬Design:Research Article

📍Scope:2006 Verileri

⚙️Variables:Domain Parameters

Abstract

The effect of a change in monetary policy on output operates through monetary transmission channels. The transmission channels of monetary policy may be gathered in five main titles: interest rates channel, asset prices channel, exchange rate channel, credit channel (bank lending channel, balance sheet channel) and expectation channel. Findings obtained from the analysis of the transmission channels can be used in policy determination. This paper empirically analyzes the bank lending channel, one of the transmission mechanisms of monetary policy in Turkey. In this paper, data between 1996:06- 2006:09 are examined using VAR methodology. According to the findings, the credit channel in Turkey operates partially.

Özet

Para politikasındaki bir değişikliğin hasıla üzerindeki etkisi, parasal aktarım kanalları aracılığı ile gerçekleşmektedir. Para politikasının aktarım kanalları, faiz kanalı, varlık fiyatları kanalı, döviz kuru kanalı, kredi kanalı (banka kredileri kanalı, bilanço kanalı) ve beklenti kanalı olmak üzere beş alt başlık altında toplanabilir. Aktarım kanallarının işleyiş sürecinin analizinden elde edilen bulgular, politika belirleme sürecinde kullanılabilir. Bu çalışmanın amacı, banka kredileri kanalının Türkiye’de işleyişini analiz etmektir. Çalışmada VAR yöntemi ile kredi kanalının geçerliliği, 1996:06-2006:09 dönemine ait toplulaştırılmış veriler kullanılarak incelenmektedir. Elde edilen sonuçlara göre, Türkiye’de kredi kanalı kısmen işlemektedir.

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Cite This Article

ERDOĞAN, S., BEŞBALLI, G. (2010). Empirical analysis of the bank lending channel in Turkey. Doğuş Üniversitesi Dergisi, Cilt: 11 - Sayı: 1, 28–41. https://ajindex.com/articles/128516

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