Politik Ekonomik Kuram
Yazarlar: ["Sultan SARI", "Aziz KONUKMAN"]
Konular:-
DOI:10.30586/pek.1225880
Anahtar Kelimeler:Sektörel kredi yoğunlaşması,Büyüme,Herfindahl-Hirschman Endeksi (HHI),VAR Analizi,Granger nedensellik testi,Sectoral credit concentration,Growth,Herfindahl-Hirschman Index (HHI),VAR method,Granger causality test
Özet: Banks are systematically important instutions and the most important their functions is financial intermediation and the their basic operation is crediting. As crediting means shortly financing of consumption and production, it directly affects macroeconomy and is affected by it. Sectorial credit concentration is not only important for risk and returns but also important for financial stability and macro economy. For example, sectorial credit concentration affects the growth rate as well. Therefore, the relationship between sectorial credit concentration and growth in the Turkish banking sector is analysed in this study. It is preferred VAR method with the quarterly data between 2007 – 2021. Because, VAR analysis can reflects all dynamic relationship without any restriction over model and so it is used commonly as time series. According to the analysis results, there is a positive relationship between sectorial credit concentration and growth. Moreover, this relationship that confirmed by Granger Causality test is bidirectional. Furthermore, the impulse-response functions and variance decomposition results support this finding. It is expected that the study, examined the relationship between sectorial concentration in banking sector, to be used as an indicator of sectorial concentration in banking sector macro economy and financial stability and so to help to orientate credit policies and development and growth strategies. In the literature, while there are many studies which examine the relationship between financial development and growth, there are not studies which consider the relationship between growth and measure of the development in financial functions as diversification and concentration. In sum, it is not observed any other study for Turkish banking sector like that. Keywords: Sectoral credit concentration, growth, Herfindahl-Hirschman Index (HHI), VAR method, Granger causality test JEL Classification: E44, G21, C51