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Journals / Sosyal Bilimler Araştırma Dergisi / 2019 / Cilt: 8 - Sayı: 4

The Impact of ICT Penetration on Interest Rates: Panel Analysis

Bilgi İletişim Teknolojileri (ICT) Yayiliminin Faiz Oranlarina Etkisi: Panel Analiz

Seyfettin ÜNAL
Cüneyt KOYUNCU
Pages
164–174
Publication Date
2019-12-15
DOI
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AI Summary & Key Takeaways

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

This provides policymakers, especially monetary policy authorities, with some useful policy implications.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The influences of information and communication technologies (ICT) on interest rates by using four distinct ICT indicators and two different interest rates are investigated.
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Key Findings & Data:We use an unbalanced data set ranging from 1990 to 2013 for various sample sizes with the largest one containing 799 observations of 86 countries.
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Conclusion & Impact:This provides policymakers, especially monetary policy authorities, with some useful policy implications.
🔬Design:Modeling & Simulation
📍Scope:2013 Verileri
⚙️Variables:ICT · Interest rate · Panel data

Abstract

The influences of information and communication technologies (ICT) on interest rates by using four distinct ICT indicators and two different interest rates are investigated. We use an unbalanced data set ranging from 1990 to 2013 for various sample sizes with the largest one containing 799 observations of 86 countries. After controlling for other macroeconomic determinants peculiar to interest rate and taking into account heteroskedasticity and autocorrelation problems in the model, the estimation results disclose an adverse association between information and communication technologies and interest rate. This finding is strong and statistically significant and also does not alter across four different ICT proxies and two distinct interest rates. Therefore we might assert that countries experiencing higher ICT penetration rates face with lower interest rates. This provides policymakers, especially monetary policy authorities, with some useful policy implications.

Özet

Çalışmada bilgi iletişim teknolojilerinin (ICT) faiz oranlarına etkisi dört ICT göstergesi ve iki faiz oranı değişkeni kullanılarak araştırılmıştır. Panel analizde kullanılan dengesiz veri seti 1990-2013 dönemini kapsayan farklı örneklem büyüklüklerinden oluşmakta olup; en büyüğü 799 gözlem ve 86 ülkeyi içermektedir. Faiz oranları ile ilişkili diğer makroekonomik değişkenler kontrol edilip, otokorelasyon ve değişken varyans durumları dikkate alınarak kullanılan modelin uygulama sonuçları ICT ve faiz oranı arasında güçlü ve istatistiksel olarak anlamlı negatif bir ilişkinin varlığına işaret etmektedir. Sözkonusu bulgular dört ICT ve iki faiz oranı temsili değişkenleri için geçerliliğini korumaktadır. Dolayısıyla, ICT yayılımı yüksek olan ülkelerde daha düşük faiz oranları görüleceği sonucuna ulaşılmaktadır. Bu bulgu politika yapıcılara, özellikle de para politikası otoritelerine faydalı politika çıkarımları sunmaktadır.

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Cite This Article

ÜNAL, S., KOYUNCU, C. (2019). The Impact of ICT Penetration on Interest Rates: Panel Analysis. Sosyal Bilimler Araştırma Dergisi, Cilt: 8 - Sayı: 4, 164–174. https://ajindex.com/articles/801654

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