The Relationship between Participation Funds and Macroeconomic Variables: SVAR Analysis Approach

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dc.authoridKaplan, Fatih/0000-0001-7417-1126
dc.contributor.authorDemirdogen, Yazuv
dc.contributor.authorKaplan, Fatih
dc.date.accessioned2025-03-17T12:25:22Z
dc.date.available2025-03-17T12:25:22Z
dc.date.issued2020
dc.departmentTarsus Üniversitesi
dc.description.abstractParticipation banks are in the same financial environment with the conventional banks, so the macro-economic variables are expected to affect the participation funds. The purpose of this study is to examine the relationship between participation funds and macroeconomic variables for Turkey. The relation between the total Turkish currency funds in participation banks and macroeconomic variables is examined using the weekly data series from 10th of July 2015 to 5th of November 2018 by applying VAR and SVAR analysis. The total amount of the deposits of participation banks, weighted average interest rates, Borsa Istanbul gold prices, deposit interest rates of conventional banks, M2 defined money supply and total foreign exchange reserves of Central Bank of the Turkish Republic and USD exchange rate data were used as the secondary data tools. As a result of the VAR analysis, it was found that the total deposits of Islamic banks are primarily affected by money supply and the quarterly deposit interest rates of conventional banks. The SVAR analysis on the basis of these variables reveals that there is a positive correlation between money supply and participation funds while the relation is negative with the quarterly deposit interest rates of conventional banks and the participation funds. According to these analyses, participation funds benefit from the expansionary monetary policy, however; the interest rate policy of conventional banks negatively affects the fund inflow of the Islamic banks.
dc.identifier.doi10.26414/A091
dc.identifier.endpage142
dc.identifier.issn2147-9054
dc.identifier.issn2148-3809
dc.identifier.issue2
dc.identifier.scopusqualityN/A
dc.identifier.startpage126
dc.identifier.urihttps://doi.org/10.26414/A091
dc.identifier.urihttps://hdl.handle.net/20.500.13099/1636
dc.identifier.volume7
dc.identifier.wosWOS:000607267400007
dc.identifier.wosqualityN/A
dc.indekslendigikaynakWeb of Science
dc.language.isoen
dc.publisherResearch Center Islamic Economics-Ikam
dc.relation.ispartofTurkish Journal of Islamic Economics-Tujise
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_WOS_20250316
dc.subjectParticipations banks
dc.subjectAggregate funds
dc.subjectMacroeconomic variables
dc.subjectTime series analysis
dc.subjectSVAR analysis
dc.titleThe Relationship between Participation Funds and Macroeconomic Variables: SVAR Analysis Approach
dc.typeArticle

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