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In Search of a Reasonable Credit Growth Rate for Turkey

Author

Listed:
  • Hakan Kara
  • Hande Kucuk
  • Tolga Tiryaki
  • Canan Yuksel

Abstract

We present a cross country analysis of credit growth and draw implications for Turkey. Similar credit deepening phases in many countries suggest a stable ratio of net credit use (change in credit stock) with respect to national income. To this end, we calculate an interval for this ratio in a sample of selected countries and assess the implications of this interval for Turkey’s medium to long term credit stock projections.

Suggested Citation

  • Hakan Kara & Hande Kucuk & Tolga Tiryaki & Canan Yuksel, 2014. "In Search of a Reasonable Credit Growth Rate for Turkey," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 14(1), pages 1-14.
  • Handle: RePEc:tcb:cebare:v:14:y:2014:i:1:p:1-14
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    File URL: http://www.tcmb.gov.tr/wps/wcm/connect/EN/TCMB+EN/Main+Menu/Publications/Central+Bank+Review/2014/Volume+14-1/
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    References listed on IDEAS

    as
    1. Marco Terrones & Enrique G. Mendoza, 2008. "An Anatomy of Credit Booms; Evidence From Macro Aggregates and Micro Data," IMF Working Papers 08/226, International Monetary Fund.
    2. A. Hakan Kara, 2012. "Monetary Policy in Turkey After the Global Crisis," Working Papers 1217, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    3. Òscar Jordà & Moritz Schularick & Alan M Taylor, 2011. "Financial Crises, Credit Booms, and External Imbalances: 140 Years of Lessons," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 59(2), pages 340-378, June.
    4. Erdem Başçı & Hakan Kara, 2011. "Finansal istikrar ve para politikası," Iktisat Isletme ve Finans, Bilgesel Yayincilik, vol. 26(302), pages 9-25.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Ülke, Volkan & Ergun, Ugur, 2013. "The Relationship between Consumer Price and Producer Price Indices in Turkey," MPRA Paper 59437, University Library of Munich, Germany.
    2. Engin Yilmaz & Bora Suslu, 2016. "Turkish Non-Core Bank Liabilities," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 14(1), pages 75-92.
    3. Aslihan Atabek & Dan Andrews & Rauf Gonenc, 2017. "Rebalancing Turkey’s Growth by Improving Resource Allocation and Productivity in Manufacturing," Working Papers 1704, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    4. Varlik Serdar & Berument M. Hakan, 2016. "Credit channel and capital flows: a macroprudential policy tool? Evidence from Turkey," The B.E. Journal of Macroeconomics, De Gruyter, vol. 16(1), pages 145-170, January.

    More about this item

    Keywords

    Credit growth; Net credit use; Financial stability;

    JEL classification:

    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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