{"id":8282,"date":"2011-11-29T16:22:47","date_gmt":"2011-11-29T13:22:47","guid":{"rendered":"http:\/\/www.bilgeyatirimci.com\/?p=8282"},"modified":"2011-11-29T16:22:55","modified_gmt":"2011-11-29T13:22:55","slug":"acemoglundan-faiz-dersi","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/acemoglundan-faiz-dersi\/","title":{"rendered":"Acemo\u011flu&#8217;ndan Faiz Dersi"},"content":{"rendered":"<p>MIT \u00f6\u011fretim \u00fcyelerinden Prof. Daron Acemo\u011flu&#8217;nun de\u011ferli bir akademisyen oldu\u011fu ku\u015fkusuz. Son olarak \u0130stanbul&#8217;da kat\u0131ld\u0131\u011f\u0131 bir toplant\u0131da yine ilgin\u00e7 mesajlar vermi\u015f.<br \/>\nAcemo\u011flu &#8220;Tasarrufa \u00f6d\u00fcn vermeden olmaz. Yap\u0131sal sorunlara yol a\u00e7ar. Bu \u00f6d\u00fcl de faizdir. T\u00fcrkiye ekonomisi b\u00fcy\u00fcyor. O halde faizin seyri de b\u00fcy\u00fcmeye uymal\u0131. Reel faizi s\u00fcrekli s\u0131f\u0131r seviyesinde tutmak iyi olmaz&#8221; diyor.<br \/>\n\u0130lk bak\u0131\u015fta kendisini faiz lobisinin bir temsilcisi olarak g\u00f6rebilirsiniz. Ancak bilim adam\u0131 kimli\u011fiyle ve \u00f6nyarg\u0131s\u0131z olarak de\u011ferlendirdi\u011finizde do\u011fruyu s\u00f6yledi\u011fini anlars\u0131n\u0131z.<\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-1875018877\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"9580705384\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p><strong>CAR\u0130 A\u00c7I\u011eA MERHEM<\/strong><br \/>\nT\u00fcrkiye&#8217;nin 2000&#8217;li y\u0131llar\u0131n ortalar\u0131ndan bu yana kanayan cari i\u015flemler a\u00e7\u0131\u011f\u0131 yaras\u0131n\u0131n i\u00e7 tasarruf eksikli\u011finin bir sonucu oldu\u011funu art\u0131k sa\u011f\u0131r sultan bile duydu. Acemo\u011flu da bu sorunu \u00e7\u00f6zmenin yolunu g\u00f6steriyor. &#8220;Tasarruflar\u0131n\u0131z\u0131 faiz \u00f6d\u00fcn\u00fc vererek art\u0131r\u0131n.&#8221;<br \/>\nBu ba\u011flamda yap\u0131sal bir soruna d\u00f6n\u00fc\u015fm\u00fc\u015f cari i\u015flemler a\u00e7\u0131\u011f\u0131 konusunda k\u0131sa d\u00f6nemde al\u0131nacak iki \u00f6nlem var.<br \/>\nBirincisi, faizleri cazip hale getirip \u015firketlerin ve hanehalk\u0131n\u0131n finansal birikimlerinin artmas\u0131na yard\u0131mc\u0131 olmak, ikincisi ise uzun vadeli finansal varl\u0131klar\u0131n miktar\u0131n\u0131 y\u00fckseltmek ve yat\u0131r\u0131mlara d\u00f6n\u00fc\u015fmesini sa\u011flamak.<br \/>\nNe yaz\u0131k ki son haftalar hari\u00e7 negatif faizler nedeniyle anaparay\u0131 bile koruyamayan bir sistemin de etkisiyle \u00f6zel tasarruflar milli gelirin y\u00fczde 1 3&#8217;\u00fc gibi \u00e7ok d\u00fc\u015f\u00fck d\u00fczeylere indi.<br \/>\n2000&#8217;li y\u0131llar\u0131n \u00f6ncesi reel faizlerin y\u00fcksekli\u011fi kamu finansman\u0131nda sorunlara yol a\u00e7arken, cari i\u015flemler a\u00e7\u0131\u011f\u0131n\u0131n d\u00fc\u015f\u00fck ger\u00e7ekle\u015fmesinin de bir par\u00e7as\u0131yd\u0131.<br \/>\nBu d\u00fczen tersine d\u00f6n\u00fcnce kamu finansman\u0131 rahatlad\u0131. Buna kar\u015f\u0131 cari a\u00e7\u0131k yap\u0131sal bir niteli\u011fe b\u00fcr\u00fcnd\u00fc.<br \/>\nKu\u015fkusuz bunun bir dengesinin olmas\u0131 gerekiyor. \u015eimdi kamu finansman\u0131nda rahatlaman\u0131n ya\u015fand\u0131\u011f\u0131 bir sistemde, reel faiz vererek \u00f6zel kesimin tasarruflar\u0131n\u0131n art\u0131r\u0131lmas\u0131 stratejisinin benimsenmesi laz\u0131m.<br \/>\nSon g\u00fcnlerde bunun izlerini g\u00f6r\u00fcyoruz. Mevduat piyasas\u0131nda y\u00fczde 12&#8217;lere ula\u015fan faizler bunun bir i\u015fareti.<\/p>\n<p><strong>UZUN VADEL\u0130 FONLARI ARTIRMAK<\/strong><br \/>\nCari i\u015flemler a\u00e7\u0131\u011f\u0131n\u0131 yap\u0131sal bir sorun olmaktan \u00e7\u0131karacak di\u011fer bir \u00f6nlem de orta ve uzun vadeli tasarruflar\u0131 art\u0131rmak.<br \/>\nBunun i\u00e7in ise tasarruf sahibine cazip gelecek finansal ara\u00e7lar\u0131 devreye sokmak laz\u0131m. \u00d6zel sigorta sistemi, yat\u0131r\u0131m fonlar\u0131 bunlardan baz\u0131lar\u0131.<br \/>\nBu t\u00fcr finansal ara\u00e7lar i\u00e7in getirilecek te\u015fvikler, istisnalar ve \u00f6ncelikler ile sa\u011flanacak olanaklar net getirileri de yukar\u0131 \u00e7ekecektir.<br \/>\nYat\u0131r\u0131mlara kaynakl\u0131k edecek T\u00fcrk Liras\u0131 cinsinden orta ve uzun vadeli birikimlerin cari a\u00e7\u0131\u011f\u0131n \u00e7\u00f6z\u00fcm\u00fcn\u00fc kolayla\u015ft\u0131raca\u011f\u0131 kesindir.<br \/>\nTasarruflar\u0131 art\u0131rmak s\u00f6zle ya da &#8220;az harcay\u0131n&#8221; nutuklar\u0131yla ger\u00e7ekle\u015fmez. Kredilerdeki art\u0131\u015f\u0131n frenlenmesi ise b\u00fcy\u00fcmeyi d\u00fc\u015f\u00fcr\u00fcp tasarruf edilecek fonlar\u0131n azal\u0131\u015f\u0131na neden olur.<br \/>\nDolay\u0131s\u0131yla ekonomiyi y\u00f6neten yetkililerin faiz lobisi tak\u0131nt\u0131s\u0131ndan uzakla\u015farak Daron Acemo\u011flu&#8217;na kulak vermelerinde \u00f6nemli yararlar bulundu\u011funu d\u00fc\u015f\u00fcn\u00fcyorum.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MIT \u00f6\u011fretim \u00fcyelerinden Prof. Daron Acemo\u011flu&#8217;nun de\u011ferli bir akademisyen oldu\u011fu ku\u015fkusuz. Son olarak \u0130stanbul&#8217;da kat\u0131ld\u0131\u011f\u0131 bir toplant\u0131da yine ilgin\u00e7 mesajlar vermi\u015f. Acemo\u011flu &#8220;Tasarrufa \u00f6d\u00fcn vermeden&hellip;<\/p>\n","protected":false},"author":418,"featured_media":5395,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tumyazilar"],"_links":{"self":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/8282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/users\/418"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=8282"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/8282\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media\/5395"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=8282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=8282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=8282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}