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KÜRESEL FİNANSAL KRİZİN TÜRKİYE’DE KAMU VE ÖZEL SERMAYELİ BANKALARIN KREDİ VERME DAVRANIŞINA ETKİSİ

Yıl 2018, Cilt: 3 Sayı: 4, 731 - 741, 31.12.2018
https://doi.org/10.29106/fesa.498459

Öz




Bu çalışmanın amacı, Türkiye’deki kamu ve özel sermayeli mevduat
bankalarının kredi verme davranışlarının, küresel finans krizi sonrasında kriz
öncesine kıyasla değişim gösterip göstermediğinin analiz edilmesidir. Çalışma
2005-2015 yıllarını kapsamaktadır, mevduat bankalarının çeyrek dönem finansal
verileri (Bankacılık Düzenleme ve Denetleme Kurumu tarafından açıklanan toplu
veriler) kullanılmıştır. Çalışmadaki araştırma sorusu Difference-in-Differences
(‘DiD’) yaklaşımı ile çözülebilmektedir, kamu ve özel sermayeli mevduat bankalarının
2008 Küresel Finans Krizi öncesi ve sonrası davranış farklılıklarında istatistiksel
olarak anlamlı derecede bir değişim olup olmadığının tespiti bu yöntem ile
mümkün olmaktadır, bu nedenle, çalışmanın ekonometrik analizi ‘DiD’ yöntemi
kullanılarak yapılmıştır. Çalışmanın sonuçları göstermektedir ki; kredi verme
davranışı açısından, Türkiye’de kamu sermayeli mevduat bankaları küresel finansal
kriz sonrasında özel sermayeli rakiplerinden önemli ölçüde farklı davranış
göstermektedir. Bu sonuç, kamu bankalarının kendine özgü nitelikleri, yapıları (kuruluş
misyonu) nedeniyle ortaya çıkmaktadır. Literatür ve ekonometrik analiz
sonuçlarına göre, kamu bankaları krizin olumsuz etkilerini bertaraf edebilmek
motivasyonu ile özel sermayeli rakiplerine nazaran kredi verme konusunda daha
aktif rol üstlenmişlerdir ki bu konjonktür karşıtı hareket olarak nitelendirilir.




Kaynakça

  • Adams-Kane, J., Caballero, J., and Lim J. (2014). 'Foreign Bank Behavior during Financial Crises' Inter-American Development Bank Working Paper Series No. IDB-WP-512.
  • Adrian, T., and Shin, H.S. (2010). 'The changing nature of financial intermediation and the financial crisis of 2007–09' Federal Reserve Bank of New York Staff Reports No. 439.
  • Alper, K., Atasoy, H., Karaşahin, R., and Mutluer-Kurul, D. (2011). 'Arzın Merkezine Seyahat: Bankacılarla Yapılan Görüşmelerden Elde Edilen Bilgilerle Türk Bankacılık Sektörünün Davranışı' TCMB Çalışma Tebliği No:11/24.
  • Alper, K., Hulagu T., and Keleş G. (2012). 'An Empirical Study on Liquidity and Bank Lending' Central Bank of the Republic of Turkey Working Paper No:12/04.
  • Brooks, P.K. (2007). 'The bank lending channel of monetary transmission: Does it work in Turkey?' International Monetary Fund Working Paper WP/07/272.
  • Bertay, A.C., Demirguc-Kunt, A., and Huizinga, H. (2015). 'Bank ownership and credit over the business cycle: Is lending by state banks less procyclical?' Journal of Banking & Finance 50: 326–39.
  • Brei, M., and Schclarek, A. (2013).'Public bank lending in times of crisis' Journal of Financial Stability 9(4): 820–30.
  • Cucinelli, D. (2015). 'The Impact of Non-Performing Loans on Bank Lending Behaviour: Evidence from the Italian Banking Sector' Eurasian Journal of Business and Economics 8(16): 59-71.
  • Choi, M. J., Gutierrez, E., and Peria, M. S. M. (2013). 'Dissecting Foreign Bank Lending Behaviour During the 2008-2009 Crisis' The World Bank Policy Research Working Paper No: 6674.
  • Coleman, N. and Feler, L. (2015).' Bank Ownership, Lending, and Local Economic Performance During the 2008-2009 Financial Crisis' Journal of Monetary Economics 71: 50-66.
  • Cull, R. and Peria M.S.M. (2013). 'Bank Ownership and Lending Patterns During the 2008-2009 Financial Crisis: Evidence from Latin America and Eastern Europe' Journal of Banking Finance, 37: 4861-4878.
  • Davutyan, N., and Yildirim, C. (2017). 'Efficiency in Turkish banking: post-restructuring evidence' The European Journal of Finance 23(2): 170-191.
  • Demirguc-Kunt A., Detragiache, E., and Gupta, P. (2006). 'Inside the Crisis An Empirical Analysis of Banking Systems in Distress' Journal of International Money and Finance 25: 702-718.
  • Dell'Ariccia, G., Detragiache, E., and Rajan, R. (2008). 'The Real Effects of Banking Crises', Journal of Financial Intermediation 17(1) 89-112.
  • Eroğlu, N. (2011), Türkiye'de Parasal Kesim ve Merkez Bankası İşlemlerinin Analizi, Istanbul: Der Yayınları.
  • Gropp, R., Gruendl, C., and Guettler, A. (2010). 'The impact of public guarantees on bank risk taking: Evidence from a natural experiment' European Central Bank Working Paper No 1272.
  • Ivashina, V., and Scharfstein, D. (2010). 'Bank lending during the financial crisis of 2008' Journal of Financial Economics 97(3): 319–338.
  • Košak, M., Li, S., Lončarski, I., and Marinč, M. (2015). 'Quality of bank capital and bank lending behavior during the global financial crisis' International Review of Financial Analysis 37: 168-183. Kok, D. and Ay, O.E. (2013). '2008 küresel finansal krizinin Türk bankacılık sektörü etkinlik düzeylerine yansıması üzerine bir araştırma' Uluslararası İktisadi İdari İncelemeler Dergisi, 10: 155–70.
  • Kindleberger, C.P., and Aliber R.Z. (2013), Manias, Panics and Crashes, A History of Financial Crisis, Londra: Palgrave Macmillan.
  • Marois, T., and Güngen, A.R. (2016). 'Credibility and class in the evolution of public banks: The case of Turkey' Journal of Peasant Studies 43(6):1285-1309.
  • Marois, T., and Güngen A.R. (2014). 'Türkiye'nin devlet bankalarını geri kazanmak' İktisat Dergisi 527: 54-70.
  • Merilainen, J.M. (2016). 'Lending growth during the financial crisis and the sovereign debt crisis: The role of bank ownership type' Journal of International Financial Markets, Institutions & Money 41: 168-182.
  • Orhangazi, Ö. (2008), Financialization and the US Economy, Northampton: Edward Elgar.
  • Ozatay, F. (2014), Finansal Krizler ve Türkiye, Istanbul: Doğan.
  • Parasiz, I. (2014), Modern Bankacılık Teori ve Uygulama, Bursa: Ezgi.
  • Sanya, O.S. and Mlachila, M. 2010. 'Post Crisis Bank Behavior: Lessons from Mercosur', International Monetary Fund Working Paper WP/10/1.
  • Terzi, N. (2017), Küresel Finansta Güncel Konular, Istanbul: Beta.
  • Yeyati, E. L., Micco, A. and Panizza, U. 2007. 'A reappraisal of state-owned banks' Economia 7(2): 209–47.
  • Yay, G. G. (2015), Para ve Finans Teori-Politika, Istanbul: Bilgi Universitesi.

THE EFFECT OF GLOBAL FINANCIAL CRISIS ON LENDING BEHAVIOR OF PUBLIC AND PRIVATE DEPOSIT BANKS IN TURKEY

Yıl 2018, Cilt: 3 Sayı: 4, 731 - 741, 31.12.2018
https://doi.org/10.29106/fesa.498459

Öz




This article
analyzes lending behavior differences between public and private deposit banks in
Turkey during and after the global financial crisis. The study covers the years
2005-2015. Quarterly collective financials of deposit banks (released by
Banking Regulatory and Supervisory Agency of Turkey) are analyzed. The research
question (whether or not there exist a significant change in differences
between Turkish public and private banks’ lending behaviors after the crisis)
in this study can be solved via Difference-in-Differences (‘DiD’) approach. This
article concludes by suggesting that after the global financial crisis, lending
behaviour of publicly owned deposit banks significantly differed from that of
privately owned ones in Turkey. This is attributable to the very nature of the
public banks. Literature review findings and the analysis results about Turkey indicate
that unlike their privately owned rivals, public deposit banks took much more
active role (as far as lending is concerned) to prevent the negative effects of
the global financial crisis of 2008, which is a counter-cyclical
behavior.




Kaynakça

  • Adams-Kane, J., Caballero, J., and Lim J. (2014). 'Foreign Bank Behavior during Financial Crises' Inter-American Development Bank Working Paper Series No. IDB-WP-512.
  • Adrian, T., and Shin, H.S. (2010). 'The changing nature of financial intermediation and the financial crisis of 2007–09' Federal Reserve Bank of New York Staff Reports No. 439.
  • Alper, K., Atasoy, H., Karaşahin, R., and Mutluer-Kurul, D. (2011). 'Arzın Merkezine Seyahat: Bankacılarla Yapılan Görüşmelerden Elde Edilen Bilgilerle Türk Bankacılık Sektörünün Davranışı' TCMB Çalışma Tebliği No:11/24.
  • Alper, K., Hulagu T., and Keleş G. (2012). 'An Empirical Study on Liquidity and Bank Lending' Central Bank of the Republic of Turkey Working Paper No:12/04.
  • Brooks, P.K. (2007). 'The bank lending channel of monetary transmission: Does it work in Turkey?' International Monetary Fund Working Paper WP/07/272.
  • Bertay, A.C., Demirguc-Kunt, A., and Huizinga, H. (2015). 'Bank ownership and credit over the business cycle: Is lending by state banks less procyclical?' Journal of Banking & Finance 50: 326–39.
  • Brei, M., and Schclarek, A. (2013).'Public bank lending in times of crisis' Journal of Financial Stability 9(4): 820–30.
  • Cucinelli, D. (2015). 'The Impact of Non-Performing Loans on Bank Lending Behaviour: Evidence from the Italian Banking Sector' Eurasian Journal of Business and Economics 8(16): 59-71.
  • Choi, M. J., Gutierrez, E., and Peria, M. S. M. (2013). 'Dissecting Foreign Bank Lending Behaviour During the 2008-2009 Crisis' The World Bank Policy Research Working Paper No: 6674.
  • Coleman, N. and Feler, L. (2015).' Bank Ownership, Lending, and Local Economic Performance During the 2008-2009 Financial Crisis' Journal of Monetary Economics 71: 50-66.
  • Cull, R. and Peria M.S.M. (2013). 'Bank Ownership and Lending Patterns During the 2008-2009 Financial Crisis: Evidence from Latin America and Eastern Europe' Journal of Banking Finance, 37: 4861-4878.
  • Davutyan, N., and Yildirim, C. (2017). 'Efficiency in Turkish banking: post-restructuring evidence' The European Journal of Finance 23(2): 170-191.
  • Demirguc-Kunt A., Detragiache, E., and Gupta, P. (2006). 'Inside the Crisis An Empirical Analysis of Banking Systems in Distress' Journal of International Money and Finance 25: 702-718.
  • Dell'Ariccia, G., Detragiache, E., and Rajan, R. (2008). 'The Real Effects of Banking Crises', Journal of Financial Intermediation 17(1) 89-112.
  • Eroğlu, N. (2011), Türkiye'de Parasal Kesim ve Merkez Bankası İşlemlerinin Analizi, Istanbul: Der Yayınları.
  • Gropp, R., Gruendl, C., and Guettler, A. (2010). 'The impact of public guarantees on bank risk taking: Evidence from a natural experiment' European Central Bank Working Paper No 1272.
  • Ivashina, V., and Scharfstein, D. (2010). 'Bank lending during the financial crisis of 2008' Journal of Financial Economics 97(3): 319–338.
  • Košak, M., Li, S., Lončarski, I., and Marinč, M. (2015). 'Quality of bank capital and bank lending behavior during the global financial crisis' International Review of Financial Analysis 37: 168-183. Kok, D. and Ay, O.E. (2013). '2008 küresel finansal krizinin Türk bankacılık sektörü etkinlik düzeylerine yansıması üzerine bir araştırma' Uluslararası İktisadi İdari İncelemeler Dergisi, 10: 155–70.
  • Kindleberger, C.P., and Aliber R.Z. (2013), Manias, Panics and Crashes, A History of Financial Crisis, Londra: Palgrave Macmillan.
  • Marois, T., and Güngen, A.R. (2016). 'Credibility and class in the evolution of public banks: The case of Turkey' Journal of Peasant Studies 43(6):1285-1309.
  • Marois, T., and Güngen A.R. (2014). 'Türkiye'nin devlet bankalarını geri kazanmak' İktisat Dergisi 527: 54-70.
  • Merilainen, J.M. (2016). 'Lending growth during the financial crisis and the sovereign debt crisis: The role of bank ownership type' Journal of International Financial Markets, Institutions & Money 41: 168-182.
  • Orhangazi, Ö. (2008), Financialization and the US Economy, Northampton: Edward Elgar.
  • Ozatay, F. (2014), Finansal Krizler ve Türkiye, Istanbul: Doğan.
  • Parasiz, I. (2014), Modern Bankacılık Teori ve Uygulama, Bursa: Ezgi.
  • Sanya, O.S. and Mlachila, M. 2010. 'Post Crisis Bank Behavior: Lessons from Mercosur', International Monetary Fund Working Paper WP/10/1.
  • Terzi, N. (2017), Küresel Finansta Güncel Konular, Istanbul: Beta.
  • Yeyati, E. L., Micco, A. and Panizza, U. 2007. 'A reappraisal of state-owned banks' Economia 7(2): 209–47.
  • Yay, G. G. (2015), Para ve Finans Teori-Politika, Istanbul: Bilgi Universitesi.
Toplam 29 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Bölüm Araştırma Makaleleri
Yazarlar

Fatih Kayhan 0000-0001-7844-8663

Yayımlanma Tarihi 31 Aralık 2018
Gönderilme Tarihi 17 Aralık 2018
Kabul Tarihi 23 Aralık 2018
Yayımlandığı Sayı Yıl 2018 Cilt: 3 Sayı: 4

Kaynak Göster

APA Kayhan, F. (2018). THE EFFECT OF GLOBAL FINANCIAL CRISIS ON LENDING BEHAVIOR OF PUBLIC AND PRIVATE DEPOSIT BANKS IN TURKEY. Finans Ekonomi Ve Sosyal Araştırmalar Dergisi, 3(4), 731-741. https://doi.org/10.29106/fesa.498459