Akademik Veri Yönetim Sistemi
36. Uluslararası Maliye Sempozyumu, Antalya, Türkiye, 27 - 30 Ekim 2022, ss.139-140
Aggregate demand managment, in terms of public policy, is the goverment's making chamnges in public revenues and expenditures in order to achieve its macroeconomic goals. These changes can also
affect the demands of individuals by influencing their incomes. In this study, it is discussed how
aggregate demand management is affected by increasing financialization and access to consumer
loans. As it is known, financialization has increased in the Turkish economy in parallel with the
developments in the world, and new financial instruments have begun to be used. In particular, with
the Transition to a Strong Economy Program, the government's borrowing needs have decreased
significantly. Financial institutions, especially banks, have turned their attention to consumers, there
has been a significant increase in credit cards and consumer loans, and this process continues. In this
case, consumers can spend beyond the government's objectives, for example, with a contractionary
fiscal policy. In this case, conventional fiscal policy instruments may not be as effective as expected. As
a matter of fact, it can be thought that the recent regulations on financial instruments, such as the
limitations on credit card installments, have been introduced as a support for conventional policies. In
this context, the Turkish case is analyzed within the framework of the changes in household
indebtedness after 2001 and the previous period, when consumers' access to credit increased, and
their connection with aggregate demand management policies is discussed.