Finansal istikrar ve faiz koridoru üzerine bir analiz: OECD ülkeleri panel veri analizi
Küçük Resim Yok
Tarih
2020
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Trakya Üniversitesi
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
1970'lerin başından beri; finansal istikrar her zaman finansal sistem yatırımcıları, alacaklılar, düzenleyiciler, denetçiler ve finansal ekonomistler için büyük bir endişe kaynağı olmuştur. Ancak finansal istikrar, merkez bankaları tarafından fiyat istikrarı veya finansal ekonomik konuları gibi geniş çapta analiz edilen ve araştırılan bir konu değildir. 1994 Meksika ve 1997 Doğu Asya'da meydana gelen mali krizler sonucunda tekrar gündeme gelmiştir. En son 2008-2009 küresel finansal krizinden sonra finansal istikrar bir kez daha ve bu kez daha endişe verici bir biçimde dünya genelinde dikkat çekmiştir. 2008 krizinden sonra birçok ülkenin merkez bankası fiyat istikrarının yanında finansal istikrarında sürdürülebilirliğini benimsemişlerdir ve 2010 yılından sonra finansal istikrarı sağlayacak politika araçlarını gündeme getirmişlerdir. Finansal istikrara yönelik politika araçları faiz koridoru, bir haftalık repo faiz oranı, likitide yönetimi ve zorunlu karşılıklardır. Bu çalışmada finansal istikrar ve faiz koridoru incelenmiş ve faiz koridorunun finansal istikrar üzerine etkisi ölçülmek istenmiştir. Çalışmamızda, 2010 - 2018 dönemi için yıllık veriler kullanılmıştır. Verilerin 2010 yılından başlamasının sebebi 2008 yılında meydana gelen kriz etkisinin görülmek istenmemesidir. Ekonometrik analizin sonuçları değerlendirildiğinde faiz koridorunun finansal istikrarı etkilediği tespit edilmiştir. Anahtar Kelimeler : Finansal İstikrar, Faiz Koridoru, Panel Veri
Since the early 1970s; financial stability has always been a major concern for financial system investors, creditors, regulators, auditors and financial economists. However, financial stability is not a widely analyzed and investigated issue by central banks, such as price stability or financial economic issues. 1994 Mexico and 1997 as a result of the financial crises in East Asia. After the most recent global financial crisis of 2008-2009, financial stability has once again attracted attention worldwide, and this time more alarmingly. After the 2008 crisis, the central banks of many countries adopted the sustainability of financial stability as well as price stability, and after 2010 they introduced policy instruments to ensure financial stability. Policy instruments for financial stability are interest rate corridor, one-week repo rate, liquidity management and required reserves. In this study, financial stability and interest corridor were examined and the effect of interest corridor on financial stability was measured. In our study, annual data were used for 2010-2018 period. The reason for the data starting from 2011 is that it is not desired to see the crisis effect that occurred in 2008. The results of the econometric analysis showed that the interest rate corridor affected financial stability. Key Words: Financial Stability, Panel Data Analysis, İnterest Corridor
Since the early 1970s; financial stability has always been a major concern for financial system investors, creditors, regulators, auditors and financial economists. However, financial stability is not a widely analyzed and investigated issue by central banks, such as price stability or financial economic issues. 1994 Mexico and 1997 as a result of the financial crises in East Asia. After the most recent global financial crisis of 2008-2009, financial stability has once again attracted attention worldwide, and this time more alarmingly. After the 2008 crisis, the central banks of many countries adopted the sustainability of financial stability as well as price stability, and after 2010 they introduced policy instruments to ensure financial stability. Policy instruments for financial stability are interest rate corridor, one-week repo rate, liquidity management and required reserves. In this study, financial stability and interest corridor were examined and the effect of interest corridor on financial stability was measured. In our study, annual data were used for 2010-2018 period. The reason for the data starting from 2011 is that it is not desired to see the crisis effect that occurred in 2008. The results of the econometric analysis showed that the interest rate corridor affected financial stability. Key Words: Financial Stability, Panel Data Analysis, İnterest Corridor
Açıklama
Yüksek Lisans
Anahtar Kelimeler
Ekonometri, Econometrics ; Ekonomi
