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The Role of Central Bank in Competitive Environment: A Study for Interest Rate Corridor Systems

The Role of Central Bank in Competitive Environment: A Study for Interest Rate Corridor Systems

Mustafa Eser Kurum, Suat Oktar
Copyright: © 2023 |Pages: 27
ISBN13: 9781668474600|ISBN10: 1668474603|EISBN13: 9781668474617
DOI: 10.4018/978-1-6684-7460-0.ch011
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MLA

Kurum, Mustafa Eser, and Suat Oktar. "The Role of Central Bank in Competitive Environment: A Study for Interest Rate Corridor Systems." Research Anthology on Macroeconomics and the Achievement of Global Stability, edited by Information Resources Management Association, IGI Global, 2023, pp. 176-202. https://doi.org/10.4018/978-1-6684-7460-0.ch011

APA

Kurum, M. E. & Oktar, S. (2023). The Role of Central Bank in Competitive Environment: A Study for Interest Rate Corridor Systems. In I. Management Association (Ed.), Research Anthology on Macroeconomics and the Achievement of Global Stability (pp. 176-202). IGI Global. https://doi.org/10.4018/978-1-6684-7460-0.ch011

Chicago

Kurum, Mustafa Eser, and Suat Oktar. "The Role of Central Bank in Competitive Environment: A Study for Interest Rate Corridor Systems." In Research Anthology on Macroeconomics and the Achievement of Global Stability, edited by Information Resources Management Association, 176-202. Hershey, PA: IGI Global, 2023. https://doi.org/10.4018/978-1-6684-7460-0.ch011

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Abstract

This chapter evaluates the macroeconomic impact of the interest rate corridor policy implemented by the central bank in Turkey. In this context, firstly the general framework, types and application of interest rate corridor policy are explained. Then, the interest rate corridor policy implemented by the CBRT after the global crisis was examined in detail. In addition, domestic and foreign literature examining the macroeconomic effects of the interest rate corridor policy has been included. This chapter examines the macroeconomic impact of the interest rate corridor policy implemented in Turkey using data from the 2011-2018 period. In the study, Engle-Granger Cointegration Analysis and Toda-Yamamoto Causality Analysis were used as models. As a result of the study, it was concluded that interest rate corridor had an effect on economic growth, foreign direct investment, and exchange rate variables.

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