文章基本信息

标题：An Alternative Instrument Negative Interest for Economic Growth: An ARDL Analysis Approach
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作者：Ayşe Ergin ÜNAL ; Okyay UÇAN
期刊名称：Fiscaoeconomia
电子版ISSN：2564-7504
出版年度：2018
卷号：2
期号：3
页码：143-167
DOI：10.25295/fsecon.2018.03.007
语种：English
出版社：Fsecon
摘要：In this study negative interest rates that is denoted as an alternative monetary policy instrument in especially developed countries,are inquired to have a relation with economic growth on selected fragile countries using ARDL analysis for the period 1995-2016. The aim of the study is to discuss the applicability of negative interest policy for the high fragile countries including Turkey by analyzing the direction of the effect of negative interest on economic growth. On the other hand,the possible effects of negative interest rate policies on current account deficit beside savings and investments are assessed. In this context statistically significant and positive relation between economic growth and interest rates below zero is found in the developed countries that use negative interest as monetary policy. Moreover,there is also same relation in emerging fragile countries. However,there is difference to obtain the long run equilibrium. While this period is short for the developed countries,it is relatively long for the emerging fragile countries..
其他摘要：Bu çalışmada özellikle gelişmiş küresel ekonomilerde alternatif para politikası aracı olarak nitelendirilen negatif faiz oranlarının ekonomik büyümeyle ilintisi seçilmiş kırılgan ekonomiler üzerine etkileri 1995-2016 yıllık verileri kullanılarak panel A
关键词：Negative interest;Monetary policy;Panel ARDL.