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The Impact of Housing Loans on Economic Growth in Turkey: Times Series Analysis for 2010-2015 Period

Emerging Markets Journal

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Title The Impact of Housing Loans on Economic Growth in Turkey: Times Series Analysis for 2010-2015 Period
 
Creator Selvi Hanişoğlu, Gülay
Azer, Özlem Arzu
 
Subject Economic Growth; Housing Industry; Housing Loan; Turkey; Time Series Analysis
 
Description Turkish economy has a growing trend after the 2000-2001 economic crises, although ups and downs were experienced in some periods. Some of the important components of Turkish economy are the construction industry and the related housing industry. The construction industry in Turkey has a multiplier effect in the economy since it uses domestic inputs and creates jobs for the labor. Also, the construction sector actors operate overseas and enable inflow of foreign currency to Turkey, thus fostering economic growth. In the recent years, foreign funds and overseas firms have an increasing interest in Turkish construction industry. The Turkish housing industry as one of the leading components of construction industry has also experienced eye-catching developments in the recent years. Definitely, the Turkish housing industry is now much more competitive compared to former years. The global economic crisis of 2008 originated from the housing industry and had devastating effects all over the world. However, the 2008 global economic crisis had relatively lighter effects in Turkey. Parallel to the improvements in construction and housing industries, several financial alternatives exist today. Banks have diversified their credit products considering the needs of consumers. Moreover, the mortgage law going in effect and the mortgage practices becoming popular have contributed to the progress of housing industry. This study analyzed the effect of housing loans and their diversification on economic growth. The research concentrated on the 2010-2015 period, where the impact of 2008 global crisis has diminished.
 
Publisher University Library System, University of Pittsburgh
 
Contributor —
 
Date 2017-09-22
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://emaj.pitt.edu/ojs/index.php/emaj/article/view/127
10.5195/emaj.2017.127
 
Source EMAJ: Emerging Markets Journal; Vol 7, No 1 (2017); 25-30
2158-8708
 
Language eng
 
Relation http://emaj.pitt.edu/ojs/index.php/emaj/article/view/127/291
 
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