The Turkish Banking Sector Before and After the Global Crisis:An Ownership Breakdown

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CBT Research Notes in Economics from Research and Monetary Policy Department, Central Bank of the Republic of Turkey

Abstract: [EN] Using bank-level data and random effects model, this paper examines the structure of the Turkish banking sector before and after the global crisis by an ownership breakdown. The selected dependent variables are financial ratios on capital adequacy, asset quality, profitability and income-expenditure structure; while main determinants are overdue loans, overhead costs, consumer loans, government securities, FX open position, bank size and a dummy variable for bank listing. Other determinants include a dummy variable for the adoption of Basel II standards, debt stock, growth, inflation, exchange rate, required reserves and policy rate, which capture the effects of regulations, fiscal policy, macroeconomic conditions and monetary policy on bank structure. Estimation results suggest that ownership plays a key role on the changing structure of Turkish banks, which can be explained by bank-specific determinants as well as macroeconomic conditions and policy-related factors. The results also reveal that banks seem to differ more before the crisis than after the crisis. These findings indicate that bank ownership should be considered as an important variable that is likely to affect the conduct of macro prudential policy and the effectiveness of the monetary policy transmission. [TR] Bu calismada, banka bazinda veri ve rassal etkiler modeli kullanilarak, Turk bankacilik sektorunun kuresel kriz oncesi ve sonrasindaki yapisi mulkiyet ayriminda incelenmektedir. Bagimli degisken olarak sermaye yeterliligi, aktif kalitesi, karlilik ve gelir-gider yapisina iliskin finansal oranlar kullanilirken; bagimsiz degiskenler olarak takipteki krediler, personel giderleri, tuketici kredileri, DIBS portfoyu, doviz acik pozisyonu ve banka buyuklugu ile borsada listelenise yonelik kukla degisken yer almaktadir. Yasal duzenlemeler, maliye politikasi, makroekonomik kosullar ve para politikasinin banka yapisi uzerindeki etkilerini incelemek amaciyla Basel II’ye gecise iliskin kukla degiskenin yani sira borc stoku, buyume, enflasyon, doviz kuru, zorunlu karsiliklar ve politika faizi diger belirleyiciler olarak calismaya dahil edilmistir. Tahmin sonuclari, banka mulkiyetinin Turk bankacilik sektorunun degisen yapisinda onemli rol oynadigina ve soz konusu degisimin bankaya ozgu belirleyicilere ek olarak makroekonomik kosullar ve politikaya iliskin etkenlerle aciklanabildigine isaret etmektedir. Ayrica, sonuclar bankalarin kriz oncesi donemde kriz sonrasi doneme gore daha cok ayristigina dikkat cekmektedir. Bu bulgular, banka mulkiyetinin makro ihtiyati politikanin yurutulmesini ve parasal aktarim mekanizmasinin etkinligini belirleyen onemli bir degisken olarak ele alinmasi gerektigini gostermektedir.

Date: 2015
New Economics Papers: this item is included in nep-cwa
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