Does monetary policy affect automotive demand? An empirical example from Turkey

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dc.authoridAyfer Ustabaş / 0000-0002-6882-5530
dc.authoridBurak Buyun / 0000-0003-2594-7287
dc.authorscopusidAyfer Ustabaş / 57204011236
dc.authorwosidAyfer Ustabaş / GQZ-6961-2022
dc.contributor.authorUstabaş, Ayfer
dc.contributor.authorBuyun, Burak
dc.date.accessioned2025-04-18T09:28:34Z
dc.date.available2025-04-18T09:28:34Z
dc.date.issued30 Haziran 2024
dc.departmentİstinye Üniversitesi, İktisadi, İdari ve Sosyal Bilimler Fakültesi, Uluslararası Ticaret ve İşletmecilik Bölümü
dc.description.abstractThe automotive sector makes a significant contribution to economic growth both as an important component of consumer spending and as the main buyer of many supplier sectors. In Turkey, which is one of the countries where this contribution is high, it is thought that the motive of holding wealth and speculation is also effective in the automotive demand of economic agents, especially in recent years. In addition, monetary policy actions to control inflation are also expected to indirectly affect the performance of the automotive sector. There is a substantial literature examining the effects of monetary policy on the automotive demand in industrialized countries. Nevertheless, such studies are quite scarce in emerging countries that are both important automotive producers and have been struggling with high inflation especially in recent years. To fill this gap in the literature, the main objective of this study is to investigate whether monetary policy decisions and domestic automotive demand are related or not in Turkey. The effect of monetary policy on domestic automotive sales in Turkey is tested with the Autoregressive Distributed Lag (ARDL) model. Covering the period of January 2011- December 2023, the study analyzes the weighted average funding cost (WAFC) as a monetary policy variable. The findings of the study suggest that WAFC has a direct effect on domestic automotive sales both in the short run and in the long run. In addition, it was concluded that tight monetary policy reduced automotive sales both in the long run and in the short run. These results support the proposition that monetary policy is an effective tool for policymakers and the real sector to sustain and support the growth of the automotive sector.
dc.identifier.citationUstabaş, A., & Buyun, B. (2024). Does monetary policy affect automotive demand? An empirical example from Turkey. JOEEP: Journal of Emerging Economies and Policy, 9(1), 132-139.
dc.identifier.endpage139
dc.identifier.issue1
dc.identifier.startpage132
dc.identifier.trdizinid1245293
dc.identifier.urihttps://dergipark.org.tr/tr/pub/joeep/issue/80751/1440904
dc.identifier.urihttps://hdl.handle.net/20.500.12713/6801
dc.identifier.volume9
dc.indekslendigikaynakTR-Dizin
dc.institutionauthorUstabaş, Ayfer
dc.institutionauthorBuyun, Burak
dc.institutionauthoridAyfer Ustabaş / 0000-0002-6882-5530
dc.institutionauthoridBurak Buyun / 0000-0003-2594-7287
dc.language.isoen
dc.publisherSeyfettin Erdoğan
dc.relation.ispartofOurnal Of Emergıng Economıes And Polıcy
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.subjectMonetary Policy
dc.subjectWAFC
dc.subjectAutomobile Industry
dc.subjectInterest Rate
dc.subjectARDL Model
dc.titleDoes monetary policy affect automotive demand? An empirical example from Turkey
dc.title.alternativePara Politikası Otomotiv Talebini Etkiliyor Mu? Türkiye'den Ampirik Bir Örnek
dc.typeArticle

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