Upgrading business investment in Turkey

Cılasun, Seyit Mümin; Gönenç, Rauf; Ozmen, Mustafa; Samancıoǧlu, Mehmed Zahid; Yılmaz, Fatih; Ziemann, Volker

doi:10.1787/537fc88b-en

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Data and Descriptive Statistics1

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2023

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“…The average SME investment rate is about 64% of the large firms' average investment rate in the full sample. One potential explanation can be that SMEs utilize more of their internal financial resources (e.g., equity or debt support from owners) to finance their investments (Yarba, 2021;Cilasun et al, 2019). Real sales growth, a proxy for firm growth potential, is around two-thirds of large firms for SMEs in the full sample.…”

Section: Data and Descriptive Statisticsmentioning

confidence: 99%

Global Capital Conditions and SME Performance

Akgündüz,

Cılasun,

Yılmaz

2023

BU Journal

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This paper studies how a tightening in global capital conditions, led by the United States Federal Reserve (Fed)'s taper tantrum policy in 2013, affects small and medium-sized enterprises (SMEs) performance in Türkiye, specifically focusing on credit access, investment, and sales growth. Our findings reveal that the global tightening led to adverse effects on domestic credit conditions, resulting in SMEs experiencing their lowest credit access in 2013. As a result, SMEs' investment and sales growth experienced a significant decline with a one-year delay in 2014. However, the estimated negative effects on SME performance gradually diminished over the subsequent three years.

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Section: Data and Descriptive Statisticsmentioning

confidence: 99%