汽车金融贷款外文文献翻译最新译文Word格式.docx

汽车金融贷款外文文献翻译最新译文Word格式.docx

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标题:

TheRelationshipbetweenAutomobileLoansandAutomobileProductionAmountasaKeyFactorforProductionStrategy

作者:

TansoyYildirim,CuneytAkar,SevdaAkar,CemalCelik

期干1J：

Procedia-SocialandBehavioralSciences,第12卷，第5期，页码：

1476-1481

年份：

2017

原文

TheRelationshipbetweenAutomobileLoansandAutomobileProduction

AmountasaKeyFactorforProductionStrategy

TansoyYildirim,CuneytAkar,SevdaAkar,CemalCelikAbstract

Themainpurposeofthisstudyistotesttherelationshipbetweenautomobileproductionquantitiesandtheamountofautomobileloans.Inthestudy,monthlydatabetweentheperiodofMay2000andJune2011wereusedandthesedataweregatheredfromtheElectronicDataDeliverySystemoftheTurkishRepublicCentralBank.Byexaminingtimeseriescharacteristicsofthedatainhand,causalityrelationshiphasbeenanalyzedwithcointegrationandvectorerrorcorrectionmodels.Empiricalfindingspointoutalong-runcausalityfromtheamountoftheloanstoautomobileproductionquantity.Thefindingsalsoshowthatautomobileproducersshouldconsidertheautomobileloansasavariablewhentheydeterminetheirproductionstrategies.

Keywords:

Automobileproductionstrategy,Cointegration,VEC,Automobileloans

1Introduction

Evenifthefirstimpactsoftherecentglobalcrisiswereexperiencedinthedevelopingcountries,recently,thedevelopedcountriescoveringthebiggesteconomiesofEuropeandUSAhaveconfrontedseriousproblems,aswell.Insuch,Turkeyhasbecomeoneofthecountriesminimallyaffectedfromthelastglobalcrisisbecauseitwasconfrontedwiththecrisisof2001previouslyandhastakenfromthatexperienceimportantlessons.Oneoftheselessonswasreinforcementofthebankingsystem.Banksplacethedepositstheycollectedtotheonesdemandingloansthroughvariouscommercialandindividualloans,andbythismeans,theyaccomplishanimportantintermediationfunctionintheeconomy.Astrongbankingsystemaccomplishesanimportantfunctioninordertoturnthewheelsoftheeconomy.

Ontheotherhand,currentdeficitisoneoftheissuescausingTurkeytosufferlatelyintermsofeconomy.Withtheapprehensionofthesustainabilityofthecurrentdeficit,theTurkishRepublicCentralBankisnowtakingvariousmeasures,oneofwhichistoprovideincreasesoftheloaninterestandtacticssuchasincreasingrequiredreserves.Anothergoalofthistacticistoreducedomesticconsumptionandimportsbydecreasingtheamountoftheloans.

Specially,veryfrequentusagesofindividualloansforfinancingproductssuchashousingandautomobilescanbringtheproductionsandsalesfiguresoftheseproductstoarelevantstatewiththeloans.Insuch,itispossibletoseesuchacircumstanceintheautomobilemarket.Havinglowcostsandlowinterestforautomobileloanscanorientatethepeoplewhodonothaveautomobilestopurchaseoneortochangeexistingautomobilesbyacquiringaloan.Sincethiskindoftendencyhastheimpacttoincreasethedemandfortheautomobile,itcanalsoincreasequantitiesofautomobileproduction,aswell.Provingsuchapotentialrelationshipbetweenautomobileproductionquantitiesandautomobileloanscaninduceautomobileproducers,whentheydeterminetheirproductionstrategies,tomonitorvehicleloansclosely,togetherwiththedevelopmentsrelatedwiththeautomobileloansandalsothefactorswhichmayaffectthem.Inotherwords,whenproductionstrategiesaredeterminedforautomobileproducers,automobileloanscanbeavariablethatmustbetakenintoconsideration,togetherwiththeotherfactors.

Inthestudy,startingfromthismotivation,byusingthedataofproductionquantitiesofautomobilesandautomobileloanamountsofdepositbanksbetweentheperiodofMay2000andNovember2011,therelationshipbetweenthesetwovariableswassearchedempirically;

itwasdeterminedwhetherornotthereisacausalityintheshort-andlong-run;

andiftherewasany,anattemptwasmadetoexplainthedirectionofthecausality.

Inthesecondsectionofthestudy,thetheoreticalframeworkandliteraturereviewhavebeenpresented.Inthethirdsection,dataandmethodologyweredescribed.Inthefourthsection,findingswerepresented,andinthelastsection,resultsandpolicyimplicationswerediscussed.

2TheoryAndLiterature

Theautomotiveindustry,duetobeingverycloselyassociatedwithotherindustrybranchesandwithothersectorsoftheeconomy,isseenasthelocomotiveoftheindustryinallindustrializedcountries.

Startinginthelastquarterof2008,theimpactoftheglobalfinancialcrisisontheautomotivesectorhasbeenmoreseverewhencomparedwiththeotherindustries,otherthanthehousingandfinancesectors.Thereareafewreasonsforthis.Firstofall,automobileleadershavestartedtoencounterproblemsintheirsupplychains.