The Effects of Macroeconomic Indicators on Lending Interest Rates: Evidence from BRICST, MINT, and Fragile Five Countries

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dc.contributor.authorKorkmaz, Özge
dc.contributor.authorKARTAL, MUSTAFA TEVFIK
dc.contributor.authorAYHAN, fatih
dc.date.accessioned2025-10-24T18:03:46Z
dc.date.available2025-10-24T18:03:46Z
dc.date.issued2022
dc.departmentMalatya Turgut Özal Üniversitesi
dc.description.abstractThis study analyzes the effects of the macroeconomic indicators on the lending interest rates in the leading emerging countries by considering the significance of the interest rates for economic growth since high-level interest rates decrease economic growth and volatile interest rates deteriorate economic stability. In this context, the lending interest rate is considered as the dependent variable; foreign exchange (FX) rates, gross domestic product (GDP), and inflation are included as the independent variables that are the main macroeconomic indicators; annual data from 1990 to 2019 are used, and the panel data analysis is applied. The empirical analysis results reveal that (i) FX rates, GDP, and inflation have a significant effect on the lending interest rates at the panel level; (ii) the significance of these macroeconomic indicators vary at the country level; (iii) GDP is the most influential factor on the lending interest rates at both panel and the country level. The analysis results underline the effects of macroeconomic factors on the lending interest rates. Therefore, countries should apply appropriate policies to lessen the adverse effects of the macroeconomic indicators on the interest rates so that economic growth can be supported by low-level lending interest rates. Hence, emerging countries can benefit from low-level lending interest rates.
dc.identifier.doi10.29249/selcuksbmyd.1168428
dc.identifier.endpage693
dc.identifier.issn1302-4191
dc.identifier.issn2564-7458
dc.identifier.issue2
dc.identifier.startpage682
dc.identifier.trdizinid1144199
dc.identifier.urihttps://doi.org/10.29249/selcuksbmyd.1168428
dc.identifier.urihttps://search.trdizin.gov.tr/tr/yayin/detay/1144199
dc.identifier.urihttps://hdl.handle.net/20.500.12899/2429
dc.identifier.volume25
dc.indekslendigikaynakTR-Dizin
dc.language.isoen
dc.relation.ispartofSelçuk Üniversitesi Sosyal Bilimler Meslek Yüksekokulu Dergisi
dc.relation.publicationcategoryMakale - Ulusal Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzTR-Dizin_20251023
dc.subjectİşletme
dc.subjectKamu Yönetimi
dc.subjectİktisat
dc.subjectİşletme Finans
dc.subjectPanel Data
dc.subjectMacroeconomic Factors
dc.subjectLending Interest Rate
dc.subjectEmerging Countries
dc.titleThe Effects of Macroeconomic Indicators on Lending Interest Rates: Evidence from BRICST, MINT, and Fragile Five Countries
dc.typeArticle

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