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Journals / Akdeniz İİBF Dergisi / 2008 / Cilt: 8 - Sayı: 16

The Effects of Reserve Requirements on GDP and Investments in Turkey from the Perspective of the Effectiveness of the Monetary Policy Tools: An Econometrik Analysis of the 1987-2004 Period

Para Politikası Araçlarının Etkinliği Perspektifininden Türkiye'de Zorunlu Karşılıkların GSYİH ve Yatırımlar Üzerindeki Etkileri: 1987-2004 Dönemine İlişkin Ekonometrik Analiz

Hakan ÇETİNTAŞ
Salih BARIŞIK
Pages
116–138
Publication Date
2022-10-11
DOI
—
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

However, our results indicate that there is a statistically significant relationship between the changes in reserve requirement ratio and investments in the long-run.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:Reserve requirement ratio is one of the most effective monetary policy tools.
📊
Key Findings & Data:In our econometric study which covers the period between 1987 and 2004, we analyzed the relationship between the reserve requirement ratio changes and the economic growth and investments in Turkey.
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Conclusion & Impact:However, our results indicate that there is a statistically significant relationship between the changes in reserve requirement ratio and investments in the long-run.
🔬Design:Research Article
📍Scope:2004 Verileri
⚙️Variables:Domain Parameters

Abstract

Reserve requirement ratio is one of the most effective monetary policy tools. Changes in reserve requirement ratio, when viewed from a macroeconomic perspective, may have more striking effects on economic growth than banking sector. In our econometric study which covers the period between 1987 and 2004, we analyzed the relationship between the reserve requirement ratio changes and the economic growth and investments in Turkey. As a result of our analysis, we did not find a statistically significant relationship between the reserve requirement ratio changes, and the economic growth and investments in the short run. However, our results indicate that there is a statistically significant relationship between the changes in reserve requirement ratio and investments in the long-run. We also observed a significant relationship between stock returns and growth while we can not empirically find a relationship between stock returns and investments.

Özet

Zorunlu karşılık oranı, para politikasının en etkin araçlarından biridir. Zorunlu karşılık oranlarındaki değişikliklerin etkisine makroekonomik perspektiften bakıldığında bankacılık kesiminden daha çok büyümeye etkisi daha dikkat çekicidir. 1987-2004 dönemini kapsayan ve zaman serilerini kullandığımız ekonometrik çalışmada, Türkiye’de ilk kez zorunlu karşılık oranlarındaki değişmeler ile büyüme ve yatırımlar arasındaki ilişkiler incelenmiştir. Yapılan analiz sonuçlarına göre, zorunlu karşılık oranlarındaki değişme ile büyüme ve yatırımlar arasında kısa dönemde istatistiki olarak anlamlı bir ilişki yoktur. Bununla birlikte uzun dönemde, zorunlu karşılık oranlarındaki değişme ile büyüme ve yatırımlar arasında anlamlı bir ilişki bulunmuştur. Uzun dönemde IMKB kazançları ile büyüme arasında anlamlı, yatırımlar ile anlamsız bir ilişki gözlenmiştir.

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Cite This Article

ÇETİNTAŞ, H., BARIŞIK, S. (2022). The Effects of Reserve Requirements on GDP and Investments in Turkey from the Perspective of the Effectiveness of the Monetary Policy Tools: An Econometrik Analysis of the 1987-2004 Period. Akdeniz İİBF Dergisi, Cilt: 8 - Sayı: 16, 116–138. https://ajindex.com/articles/433198

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