Yıl: 2015 Cilt: 22 Sayı: 2 Sayfa Aralığı: 567 - 580 Metin Dili: Türkçe İndeks Tarihi: 29-07-2022

Financial Stress and Economic Activity Relationship In Turkey: Post-2002 Period

Öz:
Global finansal krizin gelişmekte olan ülkeler üzerindeki etkileri, gelişmiş ülkelere göre daha şiddetli olmuştur. Bu durum kriz sonrası literatürünün ağırlıklı olarak finansal sistem stresi üzerinde yoğunlaşmasına neden olmuştur. Dolayısıyla, Türk finansal sistemindeki istikrarsızlığın ölçülmesi ve izlenmesi, olası stres kaynaklarına yönelik erken bir uyarı sistemi sağlayarak, doğru politikaların yürütülmesini kolaylaştıracaktır. Bu çerçevede çalışmamızda öncelikle farklı piyasalardaki istikrarsızlıkları (hisse senedi ve döviz piyasası ile bankacılık ve kamu sektörü) kapsayacak şekilde bir finansal stres endeksi oluşturulmuştur. Çalışma sonuçlarımıza göre Türkiyede ilgili dönemde finansal stresten ekonomik aktiviteye doğru tek yönlü bir nedensel ilişki bulunmaktadır. Hesaplanan etki tepki fonksiyonu ise finansal streste meydana gelen rassal şokun ekonomik aktiviteyi olumsuz etkilediğini ortaya koymuştur.
Anahtar Kelime:

Türkiye de Finansal Stres ve Ekonomik Aktivite İlişkisi: 2002 Sonrasi Dönem

Öz:
The global financial crisis has hit emerging markets more deeply than advanced economies. This has directed the focus of post-crisis literature to the stress of the financial system. Therefore, exploring the methods to measure and monitor the instability of Turkey s financial system will provide early warning signals of possible factors causing financial stress, thereby facilitating the implementation of appropriate policy measures. In this regard, we constructed a financial stress index in this paper. Our financial stress index composes of several sub-indexes for measuring the instabilities of different financial markets (such as stock market, foreign exchange market, banking sector, and public sector). The implications of financial stress on Turkish economic activity examined empirically. According to our study results, there is a one way direct causal relationship between financial stress and economic activity. The results of impulse response function reveal that random shocks in financial stress have a negative and diminishing impact on economic activity.
Anahtar Kelime:

Belge Türü: Makale Makale Türü: Araştırma Makalesi Erişim Türü: Erişime Açık
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APA ADANUR ALKAN N, ÇINAR M, KANALICI AKAY H (2015). Financial Stress and Economic Activity Relationship In Turkey: Post-2002 Period. , 567 - 580.
Chicago ADANUR ALKAN Nejla,ÇINAR Mehmet,KANALICI AKAY Hülya Financial Stress and Economic Activity Relationship In Turkey: Post-2002 Period. (2015): 567 - 580.
MLA ADANUR ALKAN Nejla,ÇINAR Mehmet,KANALICI AKAY Hülya Financial Stress and Economic Activity Relationship In Turkey: Post-2002 Period. , 2015, ss.567 - 580.
AMA ADANUR ALKAN N,ÇINAR M,KANALICI AKAY H Financial Stress and Economic Activity Relationship In Turkey: Post-2002 Period. . 2015; 567 - 580.
Vancouver ADANUR ALKAN N,ÇINAR M,KANALICI AKAY H Financial Stress and Economic Activity Relationship In Turkey: Post-2002 Period. . 2015; 567 - 580.
IEEE ADANUR ALKAN N,ÇINAR M,KANALICI AKAY H "Financial Stress and Economic Activity Relationship In Turkey: Post-2002 Period." , ss.567 - 580, 2015.
ISNAD ADANUR ALKAN, Nejla vd. "Financial Stress and Economic Activity Relationship In Turkey: Post-2002 Period". (2015), 567-580.
APA ADANUR ALKAN N, ÇINAR M, KANALICI AKAY H (2015). Financial Stress and Economic Activity Relationship In Turkey: Post-2002 Period. Yönetim ve Ekonomi: Celal Bayar Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 22(2), 567 - 580.
Chicago ADANUR ALKAN Nejla,ÇINAR Mehmet,KANALICI AKAY Hülya Financial Stress and Economic Activity Relationship In Turkey: Post-2002 Period. Yönetim ve Ekonomi: Celal Bayar Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 22, no.2 (2015): 567 - 580.
MLA ADANUR ALKAN Nejla,ÇINAR Mehmet,KANALICI AKAY Hülya Financial Stress and Economic Activity Relationship In Turkey: Post-2002 Period. Yönetim ve Ekonomi: Celal Bayar Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, vol.22, no.2, 2015, ss.567 - 580.
AMA ADANUR ALKAN N,ÇINAR M,KANALICI AKAY H Financial Stress and Economic Activity Relationship In Turkey: Post-2002 Period. Yönetim ve Ekonomi: Celal Bayar Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. 2015; 22(2): 567 - 580.
Vancouver ADANUR ALKAN N,ÇINAR M,KANALICI AKAY H Financial Stress and Economic Activity Relationship In Turkey: Post-2002 Period. Yönetim ve Ekonomi: Celal Bayar Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. 2015; 22(2): 567 - 580.
IEEE ADANUR ALKAN N,ÇINAR M,KANALICI AKAY H "Financial Stress and Economic Activity Relationship In Turkey: Post-2002 Period." Yönetim ve Ekonomi: Celal Bayar Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 22, ss.567 - 580, 2015.
ISNAD ADANUR ALKAN, Nejla vd. "Financial Stress and Economic Activity Relationship In Turkey: Post-2002 Period". Yönetim ve Ekonomi: Celal Bayar Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 22/2 (2015), 567-580.