TÜRKİYE’DE SENDİKASYON KREDİLERİ İLE DIŞ TİCARET ARASINDAKİ İLİŞKİNİN EKONOMETRİK ANALİZİ
Econometric Analysis of the Relationship Between the Syndicated Loans with Foreign Trade in Turkey

Summary/Abstract: The purpose of this article is to examine the relationship between foreign trade and syndicated loans which were used between 2003 and 2019 by banks operating in Turkey. In this article, the relationship between variables was tested by Hacker and Hatemi symmetric (2012) and Hatemi asymmetric (2012) causality analysis, taking into account the exchange rate and foreign trade exchange rate variables with the highest impact on foreign trade. According to the results of the analysis, while there was a one-way causality from foreign trade balance to syndicated loans, causality could not be detected among other variables. Hatemi asymmetric causality test identified two-way causality between foreign trade balance and exchange rate. As a result of the analysis, syndicated loans were found to play an important role in closing the foreign trade deficit

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