Ali Gökhan YÜCEL, Ahmet KÖSEOĞLU

2217

KATILIM BANKALARI EKONOMİK BÜYÜMEYE KATKI SAĞLIYOR MU? TÜRKİYE İÇİN ZAMAN SERİSİ ANALİZİ

Gelişmekte olan ülkelerin en önemli hedeflerinden biri hızlı ekonomik büyümeyi sağlamaktır. Gelişmiş bir finans sektörünün ekonomik büyümeyi hızlandıracağı konusunda iktisat literatüründe bir uzlaşı vardır. Ancak Türkiye örneğinde katılım bankaları ile ekonomik büyüme arasındaki ilişkiyi inceleyen az sayıda çalışma vardır. Literatüre katkı sağlamak amacıyla, bu çalışmanın amacı katılım bankaları ile ekonomik büyüme arasındaki ilişkiyi araştırmaktır. Bu amaca ulaşmak için gayrisafi yurtiçi hasıla, katılım bankaları tarafından kullandırılan krediler, sabit sermaye oluşumu ve istihdam edilen kişi sayısı verileri kullanılarak 2005Ç4-2020Ç2 dönemini kapsayan bir neo-klasik üretim fonksiyonu oluşturulmuştur. Analiz kısmında bir dizi birim kök, eşbütünleşme ve nedensellik testleri gerçekleştirilmiştir. Sonuçlar ele alınan değişkenler arasında istikrarlı bir uzun dönem eşbütünleşme ilişkisinin varlığına işaret etmektedir. Uzun dönem eşbütünleşme katsayılarına göre ise, sabit sermaye oluşu, istihdam ve katılım bankalarının kullandırdığı kredilerde %1’lik bir artış ekonomik büyüme üzerinde sırasıyla %0.715, %0.422 and %0.021 artışa yol aç açmaktadır. Bu sonuçlara göre, emek ve sermayenin yanı sıra, katılım bankalarının kullandırdığı kredilerin de büyüme üzerine anlamlı bir etkisi vardır. Nedensellik testi sonuçlarına göre ise, katılım bankalarının kredilerinden ekonomik büyümeye doğru hem kısa hem uzun dönemde tek yönlü bir nedensellik ilişkisi vardır. Bu çalışmanın iki önemli politika önerisi vardır. Birincisi, katılım bankaları atıl fonların bankacılık sistemine kazandırılmasında önemli bir rol oynayabilir. Bu nedenle, katılım bankalarının geleneksel bankaların ikamesi olarak değil de tamamlayıcısı olarak görülmesi gerekir. İkincisi, katılım bankaları sahip oldukları potansiyeli açığa çıkarmak için yeni finansal ürünler ve hizmetler sunarak ürünlerini çeşitlendirmelidir.

DO PARTICIPATION BANKS CONTRIBUTE TO ECONOMIC GROWTH? TIME-SERIES EVIDENCE FROM TURKEY

One of the most important goals of developing nations is to achieve rapideconomic growth. There is a consensus in the literature of economics that a welldeveloped financial sector will accelerate economic growth. However, fewstudies have examined the link between participation banks and economicgrowth. To contribute to the literature, this study aims to analyze therelationship between participation banks and economic growth for the case ofTurkey. To reach this purpose, we established a neoclassical growth model byemploying gross domestic product, total credits given by participation banks,gross fixed capital formation and the number of employed persons using timeseries data covering the period of 2005Q4-2020Q2. We conducted a battery ofunit root tests, co-integration, and causality tests. The results reveal that there isa long run stable relationship among the variables. As for the long-runestimators, a 1% increase in gross fixed capital formation, employment andcredits given by participation banks will lead to 0.715%, 0.422% and 0.021%increase in economic growth in Turkey. These findings suggest that participationbanks, as well as capital and labor, have a statistically significant impact on theeconomic growth of Turkey. The causality test results show that there is a oneway causal relationship from participation banks’ funds to economic growthboth in the short and long run but not vice versa. Two important policyimplications emerge from this study. Firstly, participation banks may play anessential role in bringing idle funds to the banking system in Turkey. Therefore,participation banks should be seen as complementary to conventional banksrather than a substitute. Secondly, participation banks should diversify theirproducts by introducing new financial products and services to unleash theiruntapped potential.
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  • ISSN: 1304-1878
  • Yayın Aralığı: Yılda 2 Sayı
  • Başlangıç: 2003
  • Yayıncı: -
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