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Journals / MALİYE FİNANS YAZILARI / 2015 / Sayı: 104

THE EFFECTS OF MONETARY POLICY BY TCMB, FED AND ECB ON BANKING SECTOR IN TURKEY: MARKOV SWITCHING APPROACH (2002-2013)

Tcmb, Fed Ve Ecb Para Politikalarının Türk Bankacılık Sektörü Performansı Üzerindeki Etkileri: Markov Swıtchıng Yaklaşımı (2002-2013)

Mustafa ÇAYIR
Deniz ERER
Elif ERER
N. Oğuzhan ALTAY
Pages
9–27
DOI
—
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AI Summary & Key Takeaways

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

The results show that an increase in policy interest rates of TCMB, FED and ECB has affected negatively banking sector profitability in contraction period.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The aim of this study is to examine the effects of monetary policies of TCMB, FED and ECB on banking sector in Turkey in 2002:Q1-2013:Q3 period.
📊
Key Findings & Data:In this context, policy interest rate, return on assets and return on equity are analysed with Markov Switching model.
💡
Conclusion & Impact:The results show that an increase in policy interest rates of TCMB, FED and ECB has affected negatively banking sector profitability in contraction period.
🔬Design:Modeling & Simulation
📍Scope:2002 Verileri
⚙️Variables:Domain Parameters

Abstract

The aim of this study is to examine the effects of monetary policies of TCMB, FED and ECB on banking sector in Turkey in 2002:Q1-2013:Q3 period. In this context, policy interest rate, return on assets and return on equity are analysed with Markov Switching model. The results show that an increase in policy interest rates of TCMB, FED and ECB has affected negatively banking sector profitability in contraction period. However, in expansion period FED monetary policy has had a positive impact on banking sector profitability, while TCMB monetary policy has been negative influence on it.

Özet

Bu çalışmanın amacı, 2002:Q1 – 2013:Q3 döneminde TCMB, FED ve ECB’nin uyguladığı para politikalarının Türkiye’deki bankacılık sektörüne etkisini incelemektir. Bu amaçla, merkez bankalarının politika faiz oranları, bankaların aktif ve özkaynak kârlılığı Markov Rejim Değişim modeliyle analiz edilmiştir. Sonuç- lar, daralma döneminde TCMB, FED ve ECB politika faiz oranlarındaki artışın bankacılık sektörü karlılığını negatif olarak etkilediğini göstermektedir. Genişleme döneminde ise TCMB para politikası bankacılık sektörü karlılığını negatif etkilerken, FED para politikası pozitif bir etkiye sahiptir.

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Cite This Article

ÇAYIR, M., ERER, D., ERER, E., ALTAY, N. O. (2015). THE EFFECTS OF MONETARY POLICY BY TCMB, FED AND ECB ON BANKING SECTOR IN TURKEY: MARKOV SWITCHING APPROACH (2002-2013). MALİYE FİNANS YAZILARI, Sayı: 104, 9–27. https://ajindex.com/articles/281529

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