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Journals / Maliye Dergisi / 2011 / Sayı: 160

Financial innovations and money demand

Finansal yenilikler ve para talebi

ASUMAN OKTAYER
Pages
351–368
DOI
—
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AI Summary & Key Takeaways

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

The impact of financial innovations on money in circulation, however, is bigger than the impact on Ml.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:This paper investigates the long-run relationship between financial innovations and money demand by using quarterly data of Turkey for the period 1991.1-2010.4 and by applying cointegration and vector error correction mechanism.
📊
Key Findings & Data:The results of the empirical evidence show that there exist a long-run relationship between both indicators of money demand used in the models and financial innovations.
💡
Conclusion & Impact:The impact of financial innovations on money in circulation, however, is bigger than the impact on Ml.
🔬Design:Modeling & Simulation
📍Scope:2010 Verileri
⚙️Variables:Domain Parameters

Abstract

This paper investigates the long-run relationship between financial innovations and money demand by using quarterly data of Turkey for the period 1991.1-2010.4 and by applying cointegration and vector error correction mechanism. The results of the empirical evidence show that there exist a long-run relationship between both indicators of money demand used in the models and financial innovations. The impact of financial innovations on money in circulation, however, is bigger than the impact on Ml.

Özet

Bu çalışmada, Türkiye'de finansal yenilikler ve para talebi arasındaki ilişki, 1991.1-2010.4 dönemine ilişkin üçer aylık veri kullanılarak ve eşbütünleşme ve vektör hata düzeltme yöntemlerinden faydalanılarak araştırılmaktadır. Elde edilen ampirik bulgular, para talebinin modellerde kullanılan her iki göstergesi ile finansal yenilikler arasında uzun dönemli bir ilişkinin varlığına işaret etmektedir. Bununla birlikte finansal yeniliklerin dolaşımdaki para üzerindeki etkisinin, Mİ üzerindeki etkisinden daha büyük olduğu sonucu elde edilmiştir.

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Cite This Article

OKTAYER, A. (2011). Financial innovations and money demand. Maliye Dergisi, Sayı: 160, 351–368. https://ajindex.com/articles/79173

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References (14)

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