Business, Management and Accounting
8 years ago

Turkish Economy Driven by Demand for Bank Loans, Money Creation Endogenous.

International Journal of Finance & Banking Studies (2147-4486)
Endogeneity of Money Supply: Evidence From Turkey
Oğuzhan Çepni, İbrahim Ethem Güney

Paper Summary

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The study looked at how money is created in the Turkish economy from 2006 to 2015. They found that banks create money by meeting the demand for loans, rather than central banks controlling it. This means that when people and businesses want to borrow money, banks are able to create that money to meet the demand.