A Statistical Analysis for the Accessibility of Electronic Data Delivery System of the Central Bank of the Turkish Republic

A Statistical Analysis for the Accessibility of Electronic Data Delivery System of the Central Bank of the Turkish Republic

Yakup Ari
DOI: 10.4018/978-1-7998-7848-3.ch002
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Abstract

The study aims to reveal the most effective factors on the accessibility statistics of the Electronic Data Delivery System (EDDS) of The Central Bank of The Turkish Republic. Besides, another aim is to reveal the effect of the exchange rate on the access statistics of EDDS exchange rate data. For this purpose, a stepwise regression model was used to find the most effective factors on accessibility statistics. According to the results of stepwise regression analysis, it was revealed that 9 out of 26 variables significantly affected the EDDS access statistics. Engle-Granger cointegration test was chosen as the method to examine the relationship between exchange rate and EDDS access statistics. It has been revealed that there is a long-run equilibrium relationship between the EURO/TRY exchange rate and the access statistics of EDDS exchange rate data.
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Introduction

Today, the main factor that causes the rapid development of information and communication technologies is the expansion of the internet network and its widespread use. In addition, developments in internet speed have facilitated the access of web-based information and increased the variety of information requested over the internet. Public and state institutions have also followed this development to the extent of their possibilities. In today's information-oriented societies, people want to access information from anywhere, anytime within seconds. Therefore, websites serve as a source of information for people. For example, websites are mainly geared towards end-users. Because it is often thought that the current or future consumers of an organization use the organization's official websites as the main place where they can get information about the products. Today, concerning organizational web content and design, public opinion is taken into account as well as potential employees when creating specific content. Official websites of corporations provide an opportunity to present internal and external information to the public and provide an opportunity for the organization to share and communicate its organizational culture and the values attached to them, its practices, principles and philosophies, and strategies. Official websites should be designed with a professional eye and be rich and relevant in terms of content, under the field they provide products and/or services. Public institutions are obliged to present all kinds of information related to the institution to which they are affiliated, which are not objectionable to be disclosed to the public and which are required to be disclosed by relevant laws, in an easily accessible, understandable, accurate, up-to-date and easily readable form. The content of the sites can vary greatly according to the characteristics of the institutions. Some websites may consist of several information pages, while others may be in the form of a large portal with many interactive services. In this context, internet speed and accessibility gain importance. Especially in the fields of trade, finance, and economy, where speed and knowledge are very important factors, this importance is increasing even more. Website accessibility is expressed as the ability of all target users to access the website, use the website and understand the content of the website. In other words, websites should have a design and content that will appeal not only to a specific audience, but also to different user groups such as the disabled and the elderly. Unlike the private sector, any public institution is generally the only institution in the service sector it is related to. For this reason, it is the only authorized authority that anyone who wants to get service in that field can apply. It is essential that the services provided are accessible to the entire society. As a matter of fact, the most important expectation is to ensure that the entire society has access to the services offered through internet sites (KAMiS, 2021). Internet speed, internet security and internet accessibility are prior topics in the economy and financial markets where accurate and fast information is important. It is clear that access to data emerging in the banking and finance sector has high costs. In this case, it is one of the difficulties of instant access to information for ordinary people who are not in the banking and finance sector. In terms of financial literacy, which is an important topic of today, it has become important to reach the data emerging in the economy and financial markets. Because, especially in developing economies, the public needs to reach the emerging data and information in order to be a part of the capital markets. Therefore, internet access and data provision over the internet are important concepts.

According to data from 2019, compared to the individual Internet use rate of Turkey's population is 74% has an important place among the developing countries (World Bank, 2020). But, the Speedtest Global Index shows that Turkey has 58th ranked for mobile internet speed and 112th for fixed broadband speed in the world (Speedtest, 2020). This situation points out that Turkey has not many problems in terms of internet access, but Turkey should progress in terms of internet infrastructure. Access speed is as important as internet accessibility for the economy and financial markets. In this context, the Central Bank of the Republic of Turkey (CBRT) has established an Electronic Data Delivery System (EDDS) for the economy and financial data distribution and accessible by anyone. In this system, micro and macro data are shared under many headings that are given in Table 1 (EVDS, 2020).

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