TÜRKİYE’DE FİNANSAL İNOVASYONUN PARA TALEBİ ÜZERİNDEKİ ETKİLERİ

Şen M., Demir F., Demirgil H.

FSCONGRESS 2024 ISPARTA, Isparta, Türkiye, 7 - 09 Mart 2024, ss.15, (Özet Bildiri)

  • Yayın Türü: Bildiri / Özet Bildiri
  • Basıldığı Şehir: Isparta
  • Basıldığı Ülke: Türkiye
  • Sayfa Sayıları: ss.15
  • Süleyman Demirel Üniversitesi Adresli: Evet

Özet

The stability of money demand is crucial for the success of economic policies. However, the increase in monetary substitutes can impact the stability of money demand. These effects typically appear as an inaccurate estimate of money demand due to unreliable parameter estimates and autocorrelated error terms in the money demand model. According to the literature, 'financial innovation' refers to practices and product/service innovations that result in permanent changes in the demand for money. It is known that ATM, one of the important tools of financial innovation, is a tool that supports access to cash. However, the use of debit cards for shopping and the popularity of credit cards have increased their capacity as a substitute for cash. In addition, internet banking, which provides access to many banking transactions, and mobile banking, which has become quite widespread with communication technology, have become important factors affecting the demand for money. The effects of financial innovation on money demand are analyzed by using monetary aggregates as well as specific explanatory variables. This study aims to analyze the effects of financial innovation on money demand for Turkey using time series analysis methods. Accordingly, the econometric analysis will be carried out by adding ATM, POS, internet banking and mobile banking transaction volumes, which are considered as specific explanators, to the basic money demand function. Theoretical expectations suggest that the use of ATMs will increase the demand for money, while other financial instruments may decrease it.