Kavramsal Bir Yaklaşım Olarak Negatif Faiz Politikasının Verimlilik, Verimlilik ve Yenilik Üzerindeki Etkileri

Özet

Central banks use interest rate instruments as a tool for guiding economic behavior of market actors in monetary policies. In this respect, the problem of defining interest as an ecopolitical phenomenon is one of the main topics of discussion of this paper. Central banks use interest rates as a monetary instrument in order to change the effect of borrowing costs and to direct the consumption and investment decisions of market actors. In this way, monetary supply and demand in national economies are managed and directed. The general rules applied by these central banks have different results depending on the different dynamics of each country’s economy. The scope of this study is to examine the basic dynamics of “why negative interest rate policies are targeted to increase productivity, efficiency, and innovations in some countries and some periods; however, why do some other countries get the opposite results in such monetary policies?”. 

It would be appropriate to define interest rate as a political economy tool in three categories: developed countries (with excess funds), developing countries (with fund deficits), and underdeveloped countries (with infrastructure deficits and fund deficits). In countries such as Japan, Switzerland, Sweden, and Denmark, negative interest rates are used as an incentive in the context of creating economic dynamism. This ensures that resources within the country do not remain idle capital and that savings are channeled into production and innovation.