The Relationship Reserve Option Mechanism and Credit
Expansionary monetary policies, which were preferably implemented by developed countries after the global crisis, together with increases in risk appetite, caused sudden changes in fund activities in financial markets. As a result of this, central banks whose primary objective is to ensure price sta...
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| Format: | Article |
| Language: | deu |
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Celal Bayar University
2019-12-01
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| Series: | Yönetim ve Ekonomi |
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| Summary: | Expansionary monetary policies, which were preferably implemented by developed countries after the global crisis, together with increases in risk appetite, caused sudden changes in fund activities in financial markets. As a result of this, central banks whose primary objective is to ensure price stability began to seek new policies. In this regard, the reserve options mechanism is one of the non-traditional monetary policy instruments developed and conducted by the Central Bank of the Republic of Turkey (CBRT). This study aims to analyse and illustrate the relationship between the use of reserve options mechanism in Turkey and working capital and consumer loans from September 2011 to February 2019. In the light of the nonlinear asymmetric smooth transition error correction model developed by Hepsag (2019), the results indicate that there is a long-run cointegration relationship between the variables. |
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| ISSN: | 1302-0064 1302-0064 |