Research Article
Türkiye Ekonomisinde Bankacılık Sektörü Tarafından Yaratılan Yurt İçi Kredi Hacmi İle Ekonomik Büyüme Arasındaki İlişki: ARDL Sınır Testi Yaklaşımı
Abstract
Bankalar finansal sistemin en önemli unsurlarından birisidir. Bankalar ekonomide tasarrufların toplanmasını sağlayarak, fon fazlasını fon ihtiyacı olan ekonomik birimlere aktararak para piyasasının gelişmesinde bulunan kuruluşlardır. Bankalar kredi kanalıyla para arzını genişletmekte ve tasarrufların ekonomide yatırımlara dönüşmesini sağlamaktadır. Ülkedeki yatırımların artması üretim ve istihdamı artıracaktır. Mal ve hizmet üretiminin artması ekonomik büyüme hızının da artmasına neden olacaktır. Banka kredilerinin ekonomik büyüme üzerinde önemli bir rolü olduğundan bu çalışmada Türkiye ekonomisinde mevduat bankaları, kalkınma ve yatırım bankaları ve katılım bankaları tarafından yaratılan toplam yurt içi kredi hacminin ekonomik büyüme üzerindeki kısa ve uzun dönem etkileri 2008:01-2022:02 dönemine ait üçer aylık veriler alınarak gecikmesi dağıtılmış otoregresif (ARDL) sınır testi yaklaşımı ile analiz edilmiştir. Analiz sonucunda toplam yurt içi kredi hacmi ile ekonomik büyüme arasında eş bütünleşme ilişkisi bulunmuştur. Toplam yurt içi kredi hacmi ile ekonomik büyüme arasında uzun dönemli bir ilişkinin olmadığı ancak kısa dönemde ilişki içinde oldukları sonucuna varılmıştır.
References
- AKPANSUNG, A. O. ve BABALOLA, S. J. (2011). Banking Sector Credit and Economic Growth in Nigeria: An Empirical Investigation. CBN Journal of Applied Statistics,2(2), 51-62.
- ALKHAZALEH, A. M. K. (2017). Does Banking Sector Performance Promote Economic Growth? Case Study of Jordanian Commercial Banks. Problems and Perspectives in Management, 15(2), 55-64.
- ANANZEH, I. E. N. (2016). Relationship between Bank Credit and Economic Growth: Evidence from Jordan. International Journal of Financial Research,7(2), 53-63.
- BERNANKE, B. S. (1993). Credit in the Macroeconomy.Quarterly Review,18, 50-70.
- BUI, T. N. (2020). Domestic Credit and Economic Growth in ASEAN Countries: A Nonlinear Approach. International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies, 11(2), 1-9.
- CAMBA, A. C. Jr. ve CAMBA, A. L. (2020). The Dynamic Relationship of Domestic Credit and Stock Market Liquidity on the Economic Growth of the Philippines. Journal of Asian Finance, Economics and Business,7(1), 37-46.
- ÇEVİK, E. İ., TAN, E. ve TERZİOĞLU, H. Ç. (2022). Türkiye’de Banka Kredileri İle Sanayi Üretimi Arasındaki İlişki. Bankacılar Dergisi, 120, 18-42.
- DING, N. (2015). Consumer Credits and Economic Growth in China. The Chinese Economy, 48(4), 269-278.
- DİŞBUDAK, C. (2010). Analyzing the Bank Credit-Economic Growth Nexus in Turkey. European Journal of Economics, Finance and Administrative Sciences, 23, 34-48.
- GRBIć, M. ve LUKOVIć, S. (2020).The Relationship between Banks’ Credit Activity and Economic Growth: An Empirical Research for the Republic of Serbia. Industrija, 48(2), 37-53.
- JOSEPH, E. (2020). The Effect of Bank Credit on the Economic Growth of Tanzania. Journal of Finance and Economics, 8(5), 211-221.
- KORKMAZ, S. (2015). Impact of Bank Credits on Economic Growth and Inflation. Journal of Applied Finance & Banking, 5(1), 57-69.
- KORKMAZ, S. (2016). Bankacılık Sektörü Kredi Hacmi İle Ekonomik Büyüme Arasındaki Nedensellik İlişkisi, in Scientific Cooperation for the Future in the Social Sciences International Conference (pp. 218-225), Uşak, Turkey: Usak University.
- KRISHNANKUTTY, R. (2011). Role of Banks Credit in Economic Growth: A Study with Special Reference to North East India. The Economic Research Guardian,1(2), 60-71.
- LEITÃO, N. C. (2012). Bank Credit and Economic Growth: A Dynamic Panel Data Analysis. The Economic Research Guardian, 2(2), 256-267.
- MISHKIN, F. S. (1995). Symposium on the Monetary Transmission Mechanism. Journal of Economic Perspectives, 9(4), 3-10.
- MISHKIN, F. S. (1996). The Channels of Monetary Transmission: Lessons for Monetary Policy. NBER Working Paper, No. 5464, nber.org/system/files/working_papers/w5464/w5464.pdf (Date Accessed: January 09, 2023).
- MOHANTY, A., KUMAR, S. ve PATRA, S. (2016). Bank Credit and Economic Growth: An Empirical Evidence from Indian States. International Journal of Current Research, 8(9), 39145-39151.
- MURTY, K. S., SAILAJA, K. ve DEMISSIE, W. M. (2012). The Long-Run Impact of Bank Credit on Economic Growth in Ethiopia: Evidence from the Johansen’s Multivariate Cointegration Approach. European Journal of Business and Management, 4(14), 20-33.
- ORIMOGUNJE, O. E. (2019). The Impact of Banking Credit on Economic Growth and Inflation: The Case of Nigeria. IOSR Journal of Business and Management (IOSR-JBM), 21(2), 32-44.
- PESARAN, M. H., SHIN, Y. ve SMITH, R. J. (2001). Bounds Testing Approaches to the Analysis of Level Relationships. Journal of Applied Econometrics,16(3), 289-326.
- PHAM, H. M. ve NGUYEN, P. M. (2020). Empirical Research on the Impact of Credit on Economic Growth in Vietnam. Management Science Letters,10(12), 2897-2904.
- RAZ, A. F. (2013). The Nexus between Bank Credit Development and Economic Growth in Indonesia. DLSU Business & Economics Review, 23(1), 93-104.
- SIPAHUTAR, M. A., OKTAVIANI, R., SIREGAR, H. ve JUANDA, B. (2016). Effects of Credit on Economic Growth. Jurnal Ekonomi Pembangunan, 17(1), 37-49.
- TAHIR, S. H., SHEHZADI, I., ALI, I. ve ULLAH, M. R. (2015). Impact of Bank Lending on Economics Growth in Pakistan: An Empirical Study of Lending to Private Sector. American Journal of Industrial and Business Management,5(8), 565-576.
- TELATAR, E. (2002). Fiyat İstikrarı Ne? Nasıl? Kimin İçin?. Ankara: İmaj Yayınevi.
- THIERRY, B., JUN, Z., ERIC, D. D., YANNICK, G. Z. S. ve LANDRY, K. Y. S. (2016). Causality Relationship between Bank Credit and Economic Growth: Evidence from a Time Series Analysis on a Vector Error Correction Model in Cameroon. Procedia-Social and Behavioral Sciences,235, 664-671.
- TIMSINA, N. (2014). Impact of Bank Credit on Economic Growth in Nepal. NRB Working Paper, No. 22, NRB-WP-22-June_2014Impact_of_Bank_Credit_on_Economic_Growth_in_Nepal-Neelam_Timsina.pdf (Date Accessed: February 01, 2023).
- TINOCO-ZERMEÑO, M. Á., VENEGAS-MARTÍNEZ, F. ve TORRES-PRECIADO, V. H. (2014). Growth, Bank Credit, and Inflation in Mexico: Evidence from an ARDL-Bounds Testing Approach. Latin American Economic Review,23(8), 1-22.
- TORAMAN, C., ATA, H. A. ve BUĞAN, M. F. (2015). A Study on Customer Perception towards the Islamic Banking Operations.Gaziantep University Journal of Social Sciences,14(4), 761-779.
The Relationship between The Domestic Credit Volume Created by The Banking Sector And Economic Growth in The Turkish Economy: An ARDL Bound Testing Approach
Abstract
Banks are one of the most important elements of the financial system. Banks are organizations that are involved in the development of the money market by ensuring the collection of savings in the economy, transferring surplus funds to economic units that need funds. Banks expand the money supply through the credit channel and ensure that savings are converted into investments in the economy. Increasing investments in the country will contribute to production and employment. The rise in the number of goods and services produced will also lead to development in the rate of economic growth. From this point of view, this study analyzes the short and long-run effects of the aggregate domestic credit volume created by deposit banks, development and investment banks, and participation banks on economic growth in the Turkish economy by adopting the autoregressive distributed lag bounds testing (ARDL) approach for quarterly data covering 2008:01-2022:02 periods. As a result of the analysis, a cointegration relationship has been found between the aggregate domestic credit volume and economic growth. It is concluded that there is no long-term relationship between the aggregate domestic credit volume and economic growth, but they are in a relationship in the short term.
References
- AKPANSUNG, A. O. ve BABALOLA, S. J. (2011). Banking Sector Credit and Economic Growth in Nigeria: An Empirical Investigation. CBN Journal of Applied Statistics,2(2), 51-62.
- ALKHAZALEH, A. M. K. (2017). Does Banking Sector Performance Promote Economic Growth? Case Study of Jordanian Commercial Banks. Problems and Perspectives in Management, 15(2), 55-64.
- ANANZEH, I. E. N. (2016). Relationship between Bank Credit and Economic Growth: Evidence from Jordan. International Journal of Financial Research,7(2), 53-63.
- BERNANKE, B. S. (1993). Credit in the Macroeconomy.Quarterly Review,18, 50-70.
- BUI, T. N. (2020). Domestic Credit and Economic Growth in ASEAN Countries: A Nonlinear Approach. International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies, 11(2), 1-9.
- CAMBA, A. C. Jr. ve CAMBA, A. L. (2020). The Dynamic Relationship of Domestic Credit and Stock Market Liquidity on the Economic Growth of the Philippines. Journal of Asian Finance, Economics and Business,7(1), 37-46.
- ÇEVİK, E. İ., TAN, E. ve TERZİOĞLU, H. Ç. (2022). Türkiye’de Banka Kredileri İle Sanayi Üretimi Arasındaki İlişki. Bankacılar Dergisi, 120, 18-42.
- DING, N. (2015). Consumer Credits and Economic Growth in China. The Chinese Economy, 48(4), 269-278.
- DİŞBUDAK, C. (2010). Analyzing the Bank Credit-Economic Growth Nexus in Turkey. European Journal of Economics, Finance and Administrative Sciences, 23, 34-48.
- GRBIć, M. ve LUKOVIć, S. (2020).The Relationship between Banks’ Credit Activity and Economic Growth: An Empirical Research for the Republic of Serbia. Industrija, 48(2), 37-53.
- JOSEPH, E. (2020). The Effect of Bank Credit on the Economic Growth of Tanzania. Journal of Finance and Economics, 8(5), 211-221.
- KORKMAZ, S. (2015). Impact of Bank Credits on Economic Growth and Inflation. Journal of Applied Finance & Banking, 5(1), 57-69.
- KORKMAZ, S. (2016). Bankacılık Sektörü Kredi Hacmi İle Ekonomik Büyüme Arasındaki Nedensellik İlişkisi, in Scientific Cooperation for the Future in the Social Sciences International Conference (pp. 218-225), Uşak, Turkey: Usak University.
- KRISHNANKUTTY, R. (2011). Role of Banks Credit in Economic Growth: A Study with Special Reference to North East India. The Economic Research Guardian,1(2), 60-71.
- LEITÃO, N. C. (2012). Bank Credit and Economic Growth: A Dynamic Panel Data Analysis. The Economic Research Guardian, 2(2), 256-267.
- MISHKIN, F. S. (1995). Symposium on the Monetary Transmission Mechanism. Journal of Economic Perspectives, 9(4), 3-10.
- MISHKIN, F. S. (1996). The Channels of Monetary Transmission: Lessons for Monetary Policy. NBER Working Paper, No. 5464, nber.org/system/files/working_papers/w5464/w5464.pdf (Date Accessed: January 09, 2023).
- MOHANTY, A., KUMAR, S. ve PATRA, S. (2016). Bank Credit and Economic Growth: An Empirical Evidence from Indian States. International Journal of Current Research, 8(9), 39145-39151.
- MURTY, K. S., SAILAJA, K. ve DEMISSIE, W. M. (2012). The Long-Run Impact of Bank Credit on Economic Growth in Ethiopia: Evidence from the Johansen’s Multivariate Cointegration Approach. European Journal of Business and Management, 4(14), 20-33.
- ORIMOGUNJE, O. E. (2019). The Impact of Banking Credit on Economic Growth and Inflation: The Case of Nigeria. IOSR Journal of Business and Management (IOSR-JBM), 21(2), 32-44.
- PESARAN, M. H., SHIN, Y. ve SMITH, R. J. (2001). Bounds Testing Approaches to the Analysis of Level Relationships. Journal of Applied Econometrics,16(3), 289-326.
- PHAM, H. M. ve NGUYEN, P. M. (2020). Empirical Research on the Impact of Credit on Economic Growth in Vietnam. Management Science Letters,10(12), 2897-2904.
- RAZ, A. F. (2013). The Nexus between Bank Credit Development and Economic Growth in Indonesia. DLSU Business & Economics Review, 23(1), 93-104.
- SIPAHUTAR, M. A., OKTAVIANI, R., SIREGAR, H. ve JUANDA, B. (2016). Effects of Credit on Economic Growth. Jurnal Ekonomi Pembangunan, 17(1), 37-49.
- TAHIR, S. H., SHEHZADI, I., ALI, I. ve ULLAH, M. R. (2015). Impact of Bank Lending on Economics Growth in Pakistan: An Empirical Study of Lending to Private Sector. American Journal of Industrial and Business Management,5(8), 565-576.
- TELATAR, E. (2002). Fiyat İstikrarı Ne? Nasıl? Kimin İçin?. Ankara: İmaj Yayınevi.
- THIERRY, B., JUN, Z., ERIC, D. D., YANNICK, G. Z. S. ve LANDRY, K. Y. S. (2016). Causality Relationship between Bank Credit and Economic Growth: Evidence from a Time Series Analysis on a Vector Error Correction Model in Cameroon. Procedia-Social and Behavioral Sciences,235, 664-671.
- TIMSINA, N. (2014). Impact of Bank Credit on Economic Growth in Nepal. NRB Working Paper, No. 22, NRB-WP-22-June_2014Impact_of_Bank_Credit_on_Economic_Growth_in_Nepal-Neelam_Timsina.pdf (Date Accessed: February 01, 2023).
- TINOCO-ZERMEÑO, M. Á., VENEGAS-MARTÍNEZ, F. ve TORRES-PRECIADO, V. H. (2014). Growth, Bank Credit, and Inflation in Mexico: Evidence from an ARDL-Bounds Testing Approach. Latin American Economic Review,23(8), 1-22.
- TORAMAN, C., ATA, H. A. ve BUĞAN, M. F. (2015). A Study on Customer Perception towards the Islamic Banking Operations.Gaziantep University Journal of Social Sciences,14(4), 761-779.
There are 30 citations in total.
Details
| Primary Language | English |
|---|---|
| Subjects | Economics |
| Journal Section | Araştırma Makaleleri |
| Authors | |
| Early Pub Date | September 30, 2023 |
| Publication Date | October 9, 2023 |
| Submission Date | February 23, 2023 |
| Acceptance Date | April 10, 2023 |
| Published in Issue | Year 2023 Volume: 8 Issue: 3 |
