Publication: Türkiye’de finansal sektörün reel sektöre fon yaratma gücü ve finansal fon akımları
Abstract
Dünya ülkelerinde finansal sistemin temelini bankacılık oluştururken, gelişmiş ülkelerde ise doğrudan finansman sistemleri hâkimdir. Türkiye gibi ekonomik açıdan kendini geliştirmeye çalışan ülkelerde ise sermaye yetersizliği sisteme hâkim konumda bulunmaktadır. Sermaye yeterliği eksik olan ülkelerde sistemin kendini geliştirememesi, dolayısıyla büyüyememesi sebebiyle, ağırlıklı olarak bankaların organize ettiği kredilendirme mekanizması devreye girmektedir. Gelişmekte olan ülke sistemlerinde çalışma ve kaynak sorunundan dolayı, reel kesimi doğrudan finansman arayışları içine sokmuştur. Sermaye birikiminin yetersizliğinden dolayı, gelişmekte olan ülkelerde ulusal veya uluslararası borsaların gelişimi önem kazanmaktadır. Finansman ihtiyacının yüksek olduğu ve yetersiz finansman kaynaklarından dolayı, gelişmekte olan ülkelerde, finansman sorunu yaşanmaktadır. Bundan hareketle doğrudan finansman yöntemi, reel sektör ve dolayısıyla ekonomik kalkınma için oldukça önemli olan sermaye piyasasında fon talebini meydana getirmektedir. Fon talebiyle, fon arzının dengeye getirilebilmesi, hem reel sektörün fon ihtiyacını, hem de finans kesiminin fon yatırımlarının gerçekleştirilmesi, günümüz ve gelecek ekonomik faaliyetlerin temelini oluşturmaktadır. Bu da genellikle sermaye piyasası denilen finansal pazarlarda finansal araçlar yoluyla elde edilmektedir. Tezimizin ana konusu ve çerçevesi bu konu üzerine kurulmuş ve işlenmiştir.
While direct finance systems prevail in the developing countries, banking sector forms the foundation of financial system in world countries, In countries like Turkey which are trying to develope themselves economically, lack of capital dominate the system. In such countries where there is lack of capital adequacy, due to the inability of the system to develope itself and thus its inability to grow, the credit mechanisms organized by the banks heavily appear in the system. The working problem and resource in the developing country systems, forced the real sector to search for direct finance. Due to lack of capital, the growth of the national and international stock exchange carries utmost importance in the developing countries. In the developing countries where there is high need of finance, stemming from the inadequate finance resources, the problem of finance occurs. Within this framework, the system of direct finance produces the demand for fonds in the real sector and thus in the capital market which is extremely important for economic development. Bringing the fond demand with fond supply into balance, and realizing the fond demand of the real sector while realizing the fond investment of the finance sector, forms the basis of today’s and future’s economic activities. This is generally achieved through financial tools in the financial markets which is called capital market. The main topic and framework of our thesis is laid and processed on this subject.
While direct finance systems prevail in the developing countries, banking sector forms the foundation of financial system in world countries, In countries like Turkey which are trying to develope themselves economically, lack of capital dominate the system. In such countries where there is lack of capital adequacy, due to the inability of the system to develope itself and thus its inability to grow, the credit mechanisms organized by the banks heavily appear in the system. The working problem and resource in the developing country systems, forced the real sector to search for direct finance. Due to lack of capital, the growth of the national and international stock exchange carries utmost importance in the developing countries. In the developing countries where there is high need of finance, stemming from the inadequate finance resources, the problem of finance occurs. Within this framework, the system of direct finance produces the demand for fonds in the real sector and thus in the capital market which is extremely important for economic development. Bringing the fond demand with fond supply into balance, and realizing the fond demand of the real sector while realizing the fond investment of the finance sector, forms the basis of today’s and future’s economic activities. This is generally achieved through financial tools in the financial markets which is called capital market. The main topic and framework of our thesis is laid and processed on this subject.