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Effects of Credit Expansion on the Current Account Deficit in Turkey: ARDL Boundary Test Approach

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  • Hüseyin Uslu

    (Erciyes University)

Abstract

In this study, the effects of the current account deficit in Turkey credit expansion were examined for the 1974-2018 period. The series that was found to be stationary at different degrees with the Kapetanios test were analyzed by the Boundary Test method. In the study where the structural break dates in the cointegration vector were determined by the Bai-Perron method and ARDL and Toda-Yamamoto causality analyzes were made, one-way causality relationships from total loans and loans to firms to current account deficit, and one-way causality from total loans to growth were found. Results indicate that the loans granted to the cause of the company’s current account deficit in Turkey.

Suggested Citation

  • Hüseyin Uslu, 2020. "Effects of Credit Expansion on the Current Account Deficit in Turkey: ARDL Boundary Test Approach," Journal of Finance Letters (Maliye ve Finans Yazıları), Maliye ve Finans Yazıları Yayıncılık Ltd. Şti., vol. 35(114), pages 441-482, October.
  • Handle: RePEc:acc:malfin:v:35:y:2020:i:114:p:441-482
    DOI: https://doi.org/10.33203/mfy.659435
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    More about this item

    JEL classification:

    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • H81 - Public Economics - - Miscellaneous Issues - - - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts

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