TÜRKİYE’DE HANEHALKI KREDİLERİNİN EKONOMİK BÜYÜMEYE ETKİSİNİN ANALİZİ
ANALYSING THE EFFECT OF HOUSEHOLD CREDIT ON ECONOMIC GROWTH IN TÜRKİYE

Summary/Abstract: Credit restrictions were imposed in many countries in the aftermath of the global financial crisis in order to mitigate the effects of the crisis, but recently, especially in developing countries, there has been an increase in household credit due to developments facilitating access to credit and policy incentives. In this period, household credit has come to the forefront and its economic effects have brought along debates. Therefore, this study aims to empirically evaluate the effects of household credit on economic growth in Turkey. In the empirical analysis, long and shortrun findings are based on linear and non-linear ARDL models. Using the period range 2008Q3-2023Q2, the study finds that household credit has a positive effect on economic growth in Turkey, but this effect is positive and larger in periods of decreasing household credit (low volatility). The findings suggest that household credit growth has a positive impact on economic growth in Turkey, but credit growth should be controlled.

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