Makro İhtiyati Politikaların Türk Bankacılık Sistemi Toplam Kredi Hacmi Üzerindeki Etkisi

Year 2020, , 419 - 440, 01.10.2020

Sevim Nur Şahbalı , Ferudun Kaya

https://doi.org/10.33203/mfy.769386

Cited By: 1

Abstract

Makro ihtiyati politikaların henüz yeni yeni gündeme gelmesiyle politika araçlarının etkinliği konusunda deneme yanılma yöntemine başvurulmuş, bu durum da makro ihtiyati politikalar üzerine çalışmalar yapılması konusunda ihtiyaç duyulduğunu göstermiştir. Bu çalışmanın amacı, finansal istikrarı sağlamak için 2010 yılından itibaren sıklıkla kullanılan makro ihtiyati politikaların Türk bankacılık sistemi toplam kredi hacmi üzerinde etkilerinin nasıl olduğunu değerlendirmektir. Bu bağlamda Türkiye’de yer alan bankacılık sektörü toplam kredi hacmi, Ocak 2011- Aralık 2018 döneminin aylık frekanstaki verileri kullanılarak VAR analiziyle tahmin edilmiştir.

Keywords

Makro İhtiyati Politikalar, Finansal İstikrar, VAR Analizi

The Effects of Macroprudential Policies on The Total Loan Volume in Turkish Banking System

Abstract

References

• Acharya, V. V. (2009). A Theory of Systemic Risk and Design of Prudential Bank Regulation. Journal of Financial Stability, 5, 224-255.
• Agresti, A. M., Baudino, P., & Poloni, P. (2008). The ECB and IMF indicators for the macro-prudential analysis of the banking sector: a comparison of the two approaches. ECB Occasional Paper.
• Aktaş, C. (2011). Finansal İstikrar Analizi Bağlamında Türkiye İçin Finansal İstikrar Endeksi Önerisi. (Doktora Tezi), 16. Ankara: Ankara Üniversitesi Sosyal Bilimler Enstitüsü.
• Allen, F., & Gale , D. (1998). Optimal Financial Crises. The Journal of Finance 53, 1245-1284.
• Allen, F., & Gale, D. (2000). Financial Contagion. Journal of Political Economy, 108, 1-33.
• Allen, F., & Gale, D. (2004). Financial Fragility, Liquidity, and Asset Prices. Journal of the European Economic Association, 2, 1015-1048. Allen, W. A., & Wood, G. (2006). Defining and Achieving Financial Stability. Journal of Financial Stability 2, 152-172.
• Bernanke, B. S. (2009, March 10). Financial Reform to Address Systemic Risk. Washington: Speech delivered at the Council on Foreign Relations.
• Boot, A. W., & Thakur, A. V. (1993). Security Design. J. Fin., 48(4), 1349-1378.
• Borio, C. (2003). “Towards a macroprudential framework for financial supervision and regulation?”. BIS Working Paper, 128. Bryant, J. (1980). A Model of Reserves, Bank Runs and Deposit Insurance. Journal of Banking&Finance, 335-344.
• Bundesbank, D. (2003). Report on the Stability of the German Financial System. Montly Report, Frankfurt.
• Crockett, A. (2000, September 20-21). “Marrying the micro and macroprudential dimensions of financial stability”. BIS Speeches. Dang, T., Gorton, G., & Holmström, B. (2013). The Information Sensitivity of a Security. Columbia University Working Paper.
• ECB. (2010). “Financial Stability Review”. Frankfurt.
• FSB, IMF, & BIS. (2011:2). “Macroprudential policy tools and frameworks”. Update to G20 Finance Ministers and Central Bank. Gadanecz, B., & Jayaram, K. (2009). Measures of financial stability – a review. (31), 370.
• Gonzalez-Paramo, J. M. (2007). Progress towards a Framework for Financial Stability. OECD World Forum on “Statistics, Knowledge and Policy. İstanbul.
• Haldane, A., Saporta, V., Hall, S., & Tanaka, M. (2004). Financial stability and. Bank of England Financial Stability Review, 16, 80-88. IMF. (2011a). “Macroprudential Policy: An Organizing Framework.” .
• IMF. (2012). Macrofinancial Stress Testing – Principles and Practices. IMF Policy Paper.
• Indraratna, Y. (2013). “Strengthening Financial Stability Indicators in the Midst of Rapid Financial Innovation: Updates and Assessments Integrative Report”. The SEACEN Centre, 1-76.
• Jacklin, C. J., & Bhattacharya, S. (1988). Distinguishing Panics and Information-based Bank Runs: Welfare and Policy Implications. Journal of Political Economy 96, 568-592.
• Kahou, M. E., & Lehar, A. (2017). Macroprudential policy: A review. Journal of Financial Stability, 29, 92-105.
• Kaufman, G. G. (1995). Research in Financial Services: Private and Public Policy. Banking, Financial Markets, and Systemic Risk. JAI Press London.
• King, R. C., & Ross, L. (1993). Financial Intermediation and Economic Development," in Capital Markets and Financial Intermediation. London: Cytre for Economic Policy Research.
• King, R., & Ross, L. (1993). Finance, Enterpreneurship & Growth: Theory and Evidence. Journal of Monetary Economics, 32, 513-542.
• Kiyotaki, N., & Moore, J. (1997). Credit Cycles. Journal of Political Economy, 108, 211-248.
• Lehar, A. (2005). Measuring Systemic Risk: A Risk Management Approach. Journal of Banking&Finance, 29, 2577-2603.
• Lim, C. H., Costa, A., Columba, F., Kongsamut, P., Otani, A., Saiyid, M., . . . Wu, X. (2011). Macroprudential policy: what instruments and how to use them? Lessons from country experiences. IMF working papers.
• Mishkin, F. S. (1999). Global Financial Instability: Framework. The Journal, 13, 3-20.
• Monica, B., Getmansky, M., Lo, A. W., & Loriana, P. (2012). Econometric measures of connectedness and systemic risk in the finance and insurance sectors. Journal of Financial Economics, 104, 525-559.
• Padoa-Schioppa, T. (2003). Central Banks and Financial Stability: Exploring The Land in Between. The Transformation of the European Financial System, 269-310.
• Reinhart, C. M., & Rogoff, K. (2009). THIS TIME IS DIFFERENT: EIGHT CENTURIES OF FINANCIAL FOLLY. 3-14.
• Rochet, J.-C., & Tirole, J. (1996b). Controlling Risk in Payment Systems. Journal of Money, Credit and Banking, 28, 832-862.
• Schinasi, G. J. (2004). Defining Financial Stability. IMF Working Paper, 04(187).
• Schinasi, G. J. (2006). Safeguarding Financial Stability: Theory and Practice.
• Sundarajan, V., Enoch, C., San Jose, A., Hilbers, P., Krueger, R., Moretti, M., & Slack, G. (2002). “Financial Soundness Indicators:
• Analytical Aspects and Country Practices”. IMF Occasional Paper(212).
• Vural, U. (2013). GELENEKSEL OLMAYAN PARA POLİTİKALARININ YÜKSELİŞİ. Uzmanlık Yeterlilik Tezi, Ankara.