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    Does Trade Credit Channel Operate in Turkey? An Analysis with CBRT Sector Statistics
    (Ege Univ, Fac Economics & Admin Sciences, 2019) Sahin, Arzu
    This paper aims to test trade credit channel in Turkey over the period from 2008 to 2016 using two data sets at sectoral level obtained from the aggregated accounts of Central Bank of the Republic of Turkey (CBRT) statistics. First sample consists of 7 main sectors and other sample involves 12 manufacturing-sub sectors. Dynamic panel data methods were applied to test whether monetary and nonmonetary factors of trade credit had an impact on both gross and net trade credit status. According to analysis results about trade credit received (gross), monetary policy restrictions has increased the trade credit usage of SME sized firm classes. Findings for net trade credit (net) showed that main-sectors medium sized firm groups became net trade credit receiver. These findings confirming substitution hypothesis conclude that trade credit channel has operated with the strongest effects on SME firms.