SavedAdd your journal

Journals / Central Bank Review / 2015 / Cilt: 15 - Sayı: 2

Döviz kredi borçları ve bankacılık sistemi istikrarı: Türkiye örneği

Foreign currency lending and banking system stability: New evidence from Turkey

Emre ÖZSÖZ
Erick W. RENGİFO
Ali M. KUTAN
Pages
1–29
DOI
—
🏛️Bibliographic metadata and full text access for this article are provided via DergiPark.
DergiPark Record ↗
✨

AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

We also evaluate whether the decision taken by the regulatory authorities in Turkey in 2009 to ban foreign currency lending to households had merits.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:This paper studies the drivers of foreign currency lending by Turkish banks along with its consequences for the banking system in particular and for the economy in general for the period between 2003 and 2009.
📊
Key Findings & Data:Our sample ends in 2009 because foreign currency lending to households in Turkey is banned starting in the second quarter of 2009.
💡
Conclusion & Impact:We also evaluate whether the decision taken by the regulatory authorities in Turkey in 2009 to ban foreign currency lending to households had merits.
🔬Design:Research Article
📍Scope:2003 Verileri
⚙️Variables:Domain Parameters

Abstract

This paper studies the drivers of foreign currency lending by Turkish banks along with its consequences for the banking system in particular and for the economy in general for the period between 2003 and 2009. Our sample ends in 2009 because foreign currency lending to households in Turkey is banned starting in the second quarter of 2009. We highlight possible risks to the Turkish banking system as a result of the system's heavy exposure to exchange rate and default risks. Our findings show that deposit dollarization seems to be the most important driver of loan dollarization in the case of Turkey. We also find evidence that larger banks in general tend to lend more in foreign currency. There is no evidence that bank cash holdings and their balances with the Central Bank affect bank lending behavior. We also evaluate whether the decision taken by the regulatory authorities in Turkey in 2009 to ban foreign currency lending to households had merits.

Özet

Bu çalış ma 2003-2009 yılları arasında Türk bankalarının döviz kredisi açmalarına neden olan değiş kenleri ve bu kredilerin özelde bankacılık sistemine ve genelde Türk ekonomisine etkilerini incelemektedir. Örneklem, 2009 yılının ikinci çeyreğinde özel kiş ilere verilen döviz kredilerinin kanunen yasaklanmasından dolayı, bu tarihe kadar olan kısmı kapsamaktadır. Çalış mada, Türk bankacılık sisteminin kurdan ve geri ödemelerden kaynaklanan olası risklerine dikkat çekilmiş tir. Bulgular, kredi dolarizasyonunun en önemli nedeninin mevduat dolarizasyonu olduğunu göstermektedir. Genel olarak büyük bankaların döviz cinsinden daha çok kredi verdikleri dikkat çekerken; bankaların likidite pozisyonlarının kredi verme üzerine etkisinin olmadığı görülmektedir. Ayrıca çalış ma 2009 yılında kanun koyucu tarafından alınan kararın baş arılı olup olmadığı konusunada ışık tutmaktadır.

🔖

Cite This Article

ÖZSÖZ, E., RENGİFO, E. W., KUTAN, A. M. (2015). Döviz kredi borçları ve bankacılık sistemi istikrarı: Türkiye örneği. Central Bank Review, Cilt: 15 - Sayı: 2, 1–29. https://ajindex.com/articles/145873

📄 Full Text PDF Viewer

📄

PDF görüntüleyici hazırlanıyor...

References (12)

  1. Akyurek, C., A. M. Kutan, and H. Yilmazkuday, 2011, "Can Inflation Targeting Regimes be Effective in Developing Countries? The Turkish Experience," Journal of Asian Economics, 22(5), 343-355.
  2. Arellano, M. and Bond, S., 1991, “Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations”, Review of Economic Studies, Vol.58, pp.277-297.
  3. Aysan, A. F., E. W. Rengifo and E. Ozsoz, 2012, "Securitization in Turkish Banking System," MPRA Paper 36812, University Library of Munich, Germany. Basso, H. S., O. Calvo-Gonzalez, and M. Jurgilas, 2011, "Financial Dollarization: The role of Foreign-owned Banks and Interest Rates," Journal of Banking & Finance, 35(4), 794- 806. Brown, M., and R. D. Haas, 2010, “Foreign Currency Lending in Emerging Europe: Bank- level Evidence," Working Papers 122, European Bank for Reconstruction and Development, Office of the Chief Economist. Calvo, G., 2002, “On Dollarization," Economics of Transition, 10(2), 393-403.
  4. Calvo, G., and C. Vegh, 1997, “From Currency Substitution to Dollarization and Beyond: Analytical and Policy Issues," in Essays on Money, Inflation, and Output, ed. by G. Calvo. MIT Press,
  5. Cambridge, MA. De Nicolo, G., P. Honohan, and A. Ize, 2005, “Dollarization of Bank Deposits: Causes and Consequences," Journal of Banking and Finance, 29, 1697-1727.
  6. Engle, R. F., and C. W. J. Granger, 1987, “Co-integration and Error Correction: Representation, Estimation, and Testing," Econometrica, 55(2), 251-76.
  7. Giovannini, A., and B. Turtelboom, 1994, The Handbook of International Macroeconomics. Currency Substitution, pp. 390-436.
  8. Blackwell Publishers.
  9. Honig, A., 2009, “Dollarization, Exchange Rate Regimes and Government Quality," Journal of International Money and Finance, 28(2), 198 - 214. Ize, A., and E. Levy-Yeyati, 2003, “Financial Dollarization," Journal of International Economics, (59), 323-347.
  10. Kutan, A. M., E. Ozsoz, and E. W. Rengifo, 2012, “Cross-sectional Determinants of Bank Performance Under Deposit Dollarization in Emerging Markets," Emerging Markets Review, 13(4), 478-492.
  11. Levy-Yeyati, E., 2006, “Financial Dollarization: Evaluating the Consequences," Economic Policy, pp. 61-118.
  12. Luca, A., and I. Petrova, 2008, “What Drives Credit Dollarization in Transition Economies?" Journal of Banking & Finance, 32(5), 858 – 869. Neanidis, K. C., and C. S. Savva, 2009, “Financial Dollarization: Short-run Determinants in Transition Economies," Journal of Banking &; Finance, 33(10), 1860-1