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Turkiye’de Tuketici ve Ticari Kredilerin Cari Acikla Iliskisi

Author

Listed:
  • Zeynel Harun Aliogullari
  • Yusuf Soner Baskaya
  • Yunus Emrah Bulut
  • Mustafa Kilinc

Abstract

[TR] Bu calismada, Turkiye’deki tuketici ve ticari kredi buyumelerinin cari acikla iliskisi incelenmistir. 2003C2-2015C2 donemini kapsayan veriyle yapilan regresyon sonuclari, Turkiye’de tuketici kredisi buyumesinin ilgili donemde cari dengeyi istatistiki olarak anlamli ve olumsuz yonde etkiledigini, ticari kredi buyumesinin ise cari denge uzerinde istatistiki olarak anlamli bir etkisinin bulunmadigini gostermektedir. Sonuclar, TCMB’nin temel hedefi olan fiyat istikrarini surdurmek yaninda finansal istikrari da gozeten yeni para politikasi cercevesinin ve finansal istikrarin saglanmasiyla sorumlu diger kuruluslarin aldigi makroihtiyati tedbirlerin Turkiye’de finansal istikrari destekleyici yonde calistigini gostermektedir. [EN] In this paper, the relationship between consumer and commercial loan growths and current account deficit in Turkey is investigated. The regression results using 2003Q2-2015Q2 period reveal that in Turkey consumer loan growth negatively and statistically significantly affects current account balance, while commercial loan growth has no statistically significant effect on current account balance. The results indicate that the new monetary policy framework of CBRT which takes into account the financial stability while keeping the price stability as the primary objective and the macroprudential measures taken by other related agencies work to enhance the financial stability in Turkey.

Suggested Citation

  • Zeynel Harun Aliogullari & Yusuf Soner Baskaya & Yunus Emrah Bulut & Mustafa Kilinc, 2015. "Turkiye’de Tuketici ve Ticari Kredilerin Cari Acikla Iliskisi," CBT Research Notes in Economics 1519, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    • Handle: RePEc:tcb:econot:1519
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    References listed on IDEAS

    as
    1. Beck Thorsten & Büyükkarabacak Berrak & Rioja Felix K. & Valev Neven T., 2012. "Who Gets the Credit? And Does It Matter? Household vs. Firm Lending Across Countries," The B.E. Journal of Macroeconomics, De Gruyter, vol. 12(1), pages 1-46, March.
    2. M. Fatih Ekinci & F. Pinar Erdem & Zubeyir Kilinc, 2015. "Credit growth, current account and financial depth," Applied Economics, Taylor & Francis Journals, vol. 47(17), pages 1809-1821, April.
    3. Berrak Büyükkarabacak & Stefan Krause, 2009. "Studying The Effects Of Household And Firm Credit On The Trade Balance: The Composition Of Funds Matters," Economic Inquiry, Western Economic Association International, vol. 47(4), pages 653-666, October.
    4. Coricelli, Fabrizio & Revoltella, Debora & Mucci, Fabio, 2006. "Household Credit in the New Europe," CEPR Discussion Papers 5520, C.E.P.R. Discussion Papers.
    5. Büyükkarabacak, Berrak & Valev, Neven T., 2010. "The role of household and business credit in banking crises," Journal of Banking & Finance, Elsevier, vol. 34(6), pages 1247-1256, June.
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    Cited by:

    1. Hakan Kara, 2016. "A brief assessment of Turkey's macroprudential policy approach : 2011–2015," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 16(3), pages 85-92.
    2. M. Fatih Ekinci & F. Pinar Erdem & Zubeyir Kilinc, 2015. "Credit growth, current account and financial depth," Applied Economics, Taylor & Francis Journals, vol. 47(17), pages 1809-1821, April.
    3. Pinar Karahan & Nilgun Caglairmak Uslu, 2016. "Kredi Hacmi Ile Cari Acik Arasindaki Iliski: Turkiye Icin Dinamik Bir Analiz," EconWorld Working Papers 16007, WERI-World Economic Research Institute, revised Oct 2016.
    4. Pinar Karahan & Nilgun Caglairmak Uslu, 2016. "The Relationship between Credit Volume and Current Account Deficit: A Dynamic Analysis for Turkey," World Journal of Applied Economics, WERI-World Economic Research Institute, vol. 2(1), pages 31-40, June.

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