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BUSINESS AND ECONOMICS RESEARCH JOURNAL

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Article Information
Journal: Business and Economics Research Journal
Title of Article: The Functioning Of The Bank Credit Channel: The Application Of Turkey (2011-2018)
Author(s): Alparslan Serel, Huseyin Guvenoglu
Volume: 10
Number: 4
Year: 2019
Page: 867-883
ISSN: 2619-9491
DOI Number: 10.20409/berj.2019.207
Abstract
The monetary authorities are trying to be effective on the real economy with their monetary policies. Monetary policies affect economic activities through monetary transmission mechanism. In the literature, it is seen that monetary policy transmission channels are gathered under five different headings as interest rate channel, asset prices channel, exchange rate channel, credit channel and expectation channel. In order for the monetary authorities to reach their desired targets on economic activities, it is important to determine which transmission channel operate effectively. In this study, the effectiveness of the bank credit channel in Turkey, vector autoregression (VAR) with the help of the method, 2011: 01-2018: 12 period were analyzed using monthly data. The findings of the analysis show that the bank credit channel in Turkey is effective.

Keywords: Monetary Transmission Mechanism, Bank Credit Channel, VAR Model

JEL Classification: E44, E52, C32

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