A BIBLIOMETRIC ANALYSIS OF FINANCE AND BANKING STUDIES IN TÜRKİYE

Abstract

This study aims to provide a bibliometric literature review of the literature on Türkiye in the field of finance and banking. Within the scope of the study, the literature related to Türkiye in the field of finance and banking published in the "Economics, Business Finance and Business" categories indexed in the Web of Science (WoS) database was reviewed. The data obtained within the scope of the study, which covers the years 1980-2024/January, were classified, and analyzed using the VOSviewer program, one of the many software developed for scientific mapping analysis and presented with visual mapping methods. We analyzed 1,956 articles in 476 different journals indexed in the Web of Science (WoS) database in the relevant period and on related topics. Within the scope of the study, it was determined which countries, institutions and academics were particularly influential. The results of the analysis revealed an increase in the number of publications of Turkish academics over the years. The number of publications in other countries has followed a more stable course over the years. The study also reveals the mainstream finance journals of finance and banking studies that include Türkiye in the scope of the study and shows that these journals have a particularly high level of increasing academic influence. The study makes an important contribution to the literature as it evaluates the data of a country like Türkiye, which is closely related to the world economies, and as far as we know, it is the first study to do so in the literature.

Keywords

• Finance
• Banking
• Türkiye
• Bibliometric analysis

TÜRKİYE'DE FİNANS VE BANKACILIK ÇALIŞMALARININ BİBLİYOMETRİK BİR ANALİZİ

Abstract

Bu çalışma, Türkiye'nin finans ve bankacılık alanındaki literatürüne ilişkin bibliyometrik bir literatür incelemesi sunmayı amaçlamaktadır. Çalışma kapsamında, Türkiye ile ilgili finans ve bankacılık alanındaki literatür, Web of Science (WoS) veri tabanında "İktisat, İşletme Finans ve İşletme" kategorilerinde yer alan yayınlar incelenmiştir. Çalışmanın kapsadığı 1980-2024/Ocak yıllarına ait veriler, sınıflandırılmış ve bilimsel haritalama analizi için geliştirilmiş birçok yazılımdan biri olan VOSviewer programı kullanılarak analiz edilerek görsel haritalama yöntemleriyle sunulmuştur. İlgili dönemde ve konularda Web of Science (WoS) veri tabanında indekslenen 476 farklı dergide yayımlanmış 1.956 makale analiz edilmiştir. Çalışma kapsamında hangi ülkelerin, kurumların ve akademisyenlerin özellikle etkili olduğu belirlenmiştir. Analiz sonuçları, yıllar içinde Türk akademisyenlerin yayın sayısında bir artış olduğunu ortaya koymuştur. Diğer ülkelerdeki yayın sayıları ise yıllar boyunca daha istikrarlı bir seyir izlemiştir. Çalışma ayrıca Türkiye'yi konu alan finans ve bankacılık çalışmalarını içeren ana akım finans dergilerini ve bu dergilerin artan akademik etkisini göstermektedir. Bu çalışma, dünya ekonomileriyle yakından ilişkili bir ülke olan Türkiye'ye ait verileri değerlendirdiği için literatüre önemli bir katkı sunmakta ve bildiğimiz kadarıyla literatürde bunu yapan ilk çalışma olarak öne çıkmaktadır.

Keywords

• Finans
• Bankacılık
• Türkiye
• Bibliyometrik analiz

References

1. Agapova, A., & Vishwasrao, S. (2020). Financial sector foreign aid and financial intermediation. International Review of Financial Analysis, 72, 101589. https://doi.org/10.1016/j.irfa.2020.101589
2. Akcan, A. V.(2024). Bibliometric analysis and content evaluation: relationship between stem education and islam and other religions. Journal of STEM Teacher Institutes, 4(2), 139-158.
3. Akturk, A. O. (2022). Thirty-five years of the Journal of Computer Assisted Learning: A bibliometric overview. Journal of Computer Assisted Learning, 38(5), 1220–1253. https://doi.org/10.1111/jcal.12686
4. Akyüz, Y., & Boratav, K. (2003). The making of the Turkish financial crisis. World Development, 31(9), 1549–1566. https://doi.org/10.1016/S0305-750X(03)00108-6
5. Alkan, B., & Çiçek, S. (2020). Spillover effect in financial markets in Turkey. Central Bank Review, 20(2), 53–64. https://doi.org/10.1016/j.cbrev.2020.02.003
6. Arık, M., Afşar, B., Kazak, H. & Akcan, A. T. (2023). Examination of renewable energy in the discipline of economics: content and bibliometric mapping analysis, Five Zero, 3(2), 300-327. https://doi.org/10.54486/fivezero.2023.30
7. Atabey, A.Ö. & Karakuş, M. (2022). Kripto Para Piyasası ile Borsa İstanbul Arasındaki İlişkinin Analizi: Toda-Yamamoto Nedensellik Testi, Five Zero, 2(2), 97-110.
8. Aydin, S., Ozer, G., & Arasil, O. (2005). Customer loyalty and the effect of switching costs as a moderator variable A case in the Turkish mobile phone market. Marketing Intelligence & Planning, 23(1), 89–103. https://doi.org/10.1108/02634500510577492

9. Azman-Saini, W. N. W., Baharumshah, A. Z., & Law, S. H. (2010). Foreign direct investment, economic freedom and economic growth: International evidence. Economic Modelling, 27(5), 1079–1089. https://doi.org/10.1016/j.econmod.2010.04.001
10. Babakus, E., Yavas, U., Karatepe, O. M., & Avci, T. (2003). The effect of management commitment to service quality on employees’ affective and performance outcomes. Journal of The Academy of Marketing Science, 31(3), 272–286. https://doi.org/10.1177/0092070303031003005
11. Bandiera, O., Caprio, G., Honohan, P., & Schiantarelli, F. (2000). Does financial reform raise or reduce saving? Review of Economics And Statistics, 82(2), 239–263. Conference on Saving Across the World. https://doi.org/10.1162/003465300558768
12. Bash, A., & Al-Awadhi, A. M. (2023). Central Bank Independence and stock market outcomes: An event study on Borsa Istanbul. Cogent Economics & Finance, 11(1), 2186032. https://doi.org/10.1080/23322039.2023.2186032
13. Baziki, S. B., Kilic, Y., & Yilmaz, M. H. (2022). Consumer loan rate dispersion and the role of competition: Evidence from Turkish banking industry. Central Bank Review, 22(1), 27–47. https://doi.org/10.1016/j.cbrev.2022.01.001
14. Beck, T., & Demirguc-Kunt, A. (2006). Small and medium-size enterprises: Access to finance as a growth constraint. Journal of Banking & Finance, 30(11), 2931–2943. https://doi.org/10.1016/j.jbankfin.2006.05.009
15. Beck, T., Demirgüç-Kunt, A., & Levine, R. (2000). A New Database on the Structure and Development of the Financial Sector. The World Bank Economic Review, 14(3), 597–605. https://doi.org/10.1093/wber/14.3.597
16. Cayir, B. (2021). The impacts of international capital flows on household credits. Central Bank Review, 21(4), 131–140. https://doi.org/10.1016/j.cbrev.2021.12.001
17. Cayirli, O., Kayalidere, K., & Aktas, H. (2024). Conditional impact of credit growth on macroeconomic and financial aggregates: Evidence from Turkiye. International Journal of Emerging Markets, 19(2), 339–366. https://doi.org/10.1108/IJOEM-09-2021-1448
18. Cetin, H., & Guclu, A. (2022). Earnings Management Practices in Banks: An Analysis of Participation and Investment Banks in Turkiye. Sosyoekonomi, 30(53), 465–486. https://doi.org/10.17233/sosyoekonomi.1052700
19. Choong, C.-K., Baharumshah, A. Z., Yusop, Z., & Habibullah, M. S. (2010). Private capital flows, stock market and economic growth in developed and developing countries: A comparative analysis. Japan and the World Economy, 22(2), 107–117. https://doi.org/10.1016/j.japwor.2009.07.001
20. Ciftci, I., Tatoglu, E., Wood, G., Demirbag, M., & Zaim, S. (2019). Corporate governance and firm performance in emerging markets: Evidence from Turkey. International Business Review, 28(1), 90–103. https://doi.org/10.1016/j.ibusrev.2018.08.004
21. Coşkun, A., & Aypek, N. (2023). Covid-19 Öncesi ve Döneminde Seçilmiş Makroekonomik Değişkenler Arasındaki İlişkinin İncelenmesi. Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 58, Article 58. https://doi.org/10.30794/pausbed.1275054
22. Çiftçi, T. E. (2024). Karbon vergisi çalışmalarında bibliyometrik analiz. Five Zero, 4(1), 1-24. https://doi.org/10.54486/fivezero.2024.33
23. Čihák, M., Demirgüč-Kunt, A., Feyen, E., & Levine, R. (2013). Financial Development in 205 Economies, 1960 to 2010 (Working Paper 18946). National Bureau of Economic Research. https://doi.org/10.3386/w18946
24. Cisek, S., & Yildirim, A. (2024). The impact of domestic and global factors on individual public, domestic and foreign bank performances in Türkiye. Central Bank Review, 24(1), 100139. https://doi.org/10.1016/j.cbrev.2023.100139
25. Demir, F. (2009). Financial liberalization, private investment and portfolio choice: Financialization of real sectors in emerging markets. Journal of Development Economics, 88(2), 314–324. https://doi.org/10.1016/j.jdeveco.2008.04.002
26. Demiroglu, U. (2013). The effects of the investment decline on potential GDP in Turkey’s 2001 and 2009 crises. Central Bank Review, 13(3), 25–44.
27. Efe, U., & Akcan, A. V. (2024). A Literature Review of the Studies on Islam-Science-Technology in Web of Science. Journal of STEM Teacher Institutes, 4(1), 65–80.
28. Gazel, Y. H., Altınırmak, S., & Karamaşa, Ç. (2021). Performance Ranking of the Commercial Banks Operating in Turkey based on Multi-Criteria Decision-Making Methods. Sosyoekonomi, 29(48), Article 48. https://doi.org/10.17233/sosyoekonomi.2021.02.09
29. Gunes, H., & Yildirim, D. (2016). Estimating cost efficiency of Turkish commercial banks under unobserved heterogeneity with stochastic frontier models. Central Bank Review, 16(4), 127–136. https://doi.org/10.1016/j.cbrev.2016.12.001
30. Hallinger, P. (2014). Reviewing Reviews of Research in Educational Leadership: An Empirical Assessment. Educational Administration Quarterly, 50(4), 539–576. https://doi.org/10.1177/0013161X13506594
31. Haug, A. A., & Ucal, M. (2019). The role of trade and FDI for CO2 emissions in Turkey: Nonlinear relationships. Energy Economics, 81, 297–307. https://doi.org/10.1016/j.eneco.2019.04.006
32. Hood, W. W., & Wilson, C. S. (2001). The Literature of Bibliometrics, Scientometrics, and Informetrics. Scientometrics, 52(2), 291–314. https://doi.org/10.1023/A:1017919924342
33. Iamsiraroj, S. (2016). The foreign direct investment–economic growth nexus. International Review of Economics & Finance, 42, 116–133. https://doi.org/10.1016/j.iref.2015.10.044
34. Isik, I., & Hassan, M. K. (2003). Financial deregulation and total factor productivity change: An empirical study of Turkish commercial banks. Journal of Banking & Finance, 27(8), 1455–1485. https://doi.org/10.1016/S0378-4266(02)00288-1
35. Ismihan, M., Dinçergök, B., & Cilasun, S. M. (2017). Revisiting the finance–growth nexus: The Turkish case, 1980–2010. Applied Economics, 49(18), 1737–1750. https://doi.org/10.1080/00036846.2016.1226487
36. Kadırgan, C., & Özlü, P. (2023). Financial crisis, global liquidity and trade credit channel: Evidence from Türkiye. Emerging Markets Review, 57, 101073. https://doi.org/10.1016/j.ememar.2023.101073
37. Karacoban, A., Saltik, O., & Degirmen, S. (2023). Regional Economic Growth and Financial Innovation: Perspectives from the Turkish Banking Sector. Sosyoekonomi, 31(56), 47–84. https://doi.org/10.17233/sosyoekonomi.2023.02.03
38. Kazak, H. (2022). The Case of Turkey in Terms of COVID- 19 and Non- Performing Loans (NPL). In Digital Transformation and New Approaches in Trade, Economics, Finance and Banking (pp. 97–133). Peter Lang GmbH.
39. Kazak, H. (2023). BIST 100 Endeksi ile USD, Altın ve BITCOIN Arasında COVID-19 Pandemisi Öncesi ve Sonrasında Nedensellik Değişimi: Türkiye Üzerine Fourier İşlevli Bir Tarihsel Analiz. Fiscaoeconomia, 7(3), 1813–1836. https://doi.org/10.25295/fsecon.1261953
40. Kazak, H., Akcan, A. T., & İyibildiren, M. (2024). The Relationship Between Foreign Direct Investment and Economic Growth in Turkic Republics. Sosyoekonomi, 32(62), 157–176. https://doi.org/10.17233/sosyoekonomi.2024.04.08
41. Kazak, H., Uluyol, B., Akcan, A. T., & İyibildiren, M. (2023). The impacts of conventional and Islamic banking sectors on real sector growth: Evidence from time-varying causality analysis for Turkiye. Borsa Istanbul Review, 23, S15–S29. https://doi.org/10.1016/j.bir.2023.09.004
42. Kilic, M., Kuzey, C., & Uyar, A. (2015). The impact of ownership and board structure on Corporate Social Responsibility (CSR) reporting in the Turkish banking industry. Corporate Governance-the International Journal Of Business in Society, 15(3), 357–374. https://doi.org/10.1108/CG-02-2014-0022
43. King, R. G., & Levine, R. (1993). Finance and growth: Schumpeter might be right. The Quarterly Journal of Economics, 108(3), 717–737. https://doi.org/doi.org/10.2307/2118406
44. Ledhem, M. A., & Mekidiche, M. (2022). Islamic finance and economic growth: The Turkish experiment. ISRA International Journal of Islamic Finance, 14(1), 4–19. https://doi.org/10.1108/IJIF-12-2020-0255
45. Levine, R. (1997). Financial Development and Economic Growth: Views and Agenda. Journal of Economic Literature, 35(2), 688–726. JSTOR.
46. Levine, R., & Zervos, S. (1998). Stock Markets, Banks, and Economic Growth. The American Economic Review, 88(3), 537–558.
47. Li, K. (2007). The growth in equity market size and trading activity: An international study. Journal of Empirical Finance, 14(1), 59–90. https://doi.org/10.1016/j.jempfin.2006.03.003
48. Lise, W. (2006). Decomposition of CO2 emissions over 1980–2003 in Turkey. Energy Policy, 34(14), 1841–1852. https://doi.org/10.1016/j.enpol.2004.12.021
49. Nguyen, U.-P., & Hallinger, P. (2020). Assessing the Distinctive Contributions of Simulation & Gaming to the Literature, 1970-2019: A Bibliometric Review. Simulation & Gaming, 51(6), 744–769. https://doi.org/10.1177/1046878120941569
50. Önis, Z. (2006). Varieties and crises of neoliberal globalisation: Argentina, Turkey and the imf. Third World Quarterly, 27(2), 239–263. https://doi.org/10.1080/01436590500432366
51. Ozgen, F. B., & Karakaya, E. (2006). Fiscal Consistency on Public Finance and Dometic Debt Sustainability: The Analysis on Budget Constraint Equity. Maliye Dergisi, 151, 103–127.
52. Ozkan, N., Cakan, S., & Kayacan, M. (2017). Intellectual capital and financial performance: A study of the Turkish Banking Sector. Borsa Istanbul Review, 17(3), 190–198. https://doi.org/10.1016/j.bir.2016.03.001
53. Pan, J., & Singleton, K. J. (2008). Default and Recovery Implicit in the Term Structure of Sovereign CDS Spreads. Journal Of Finance, 63(5), 2345–2384. https://doi.org/10.1111/j.1540-6261.2008.01399.x
54. Saiti, B., Bacha, O. I., & Masih, M. (2014). The diversification benefits from Islamic investment during the financial turmoil: The case for the US-based equity investors. Borsa Istanbul Review, 14(4), 196–211. https://doi.org/10.1016/j.bir.2014.08.002
55. Schumpeter, J. A. (1934). The Theory of Economic Development: An Inquiry Into Profits, Capital, Credit, Interest, and the Business Cycle (R. Opie, Trans.). Harvard University Press.
56. Sen, S., & Tokatlioglu, M. (2020). Contingent Liabilities as a Risk Factor in Public Finance: The Case of Turkiye. Sosyoekonomi, 28(44), 215–236. https://doi.org/10.17233/sosyoekonomi.2020.02.10
57. Şeyda, G. G., & Ali, G. (2020). 2008 Financial Crisis: A Comparative Analysis of Turkey and Brazil in Terms of Economic Policies. Journal of Economy Culture and Society, 0(62), Article 62. https://doi.org/10.26650/JECS2020-0046
58. Sumer, T. P., & Ozyildirim, S. (2022). Network structure of Turkish interbank market. Central Bank Review, 22(4), 149–161. https://doi.org/10.1016/j.cbrev.2022.11.003
59. Tiryaki, S. T. (2011). Can a two-sector business cycle model account for the 2001 recession of Turkey? Central Bank Review, 11(1), 29–41.
60. Tram, T. X. H., Lai, T. D., & Nguyen, T. T. H. (2023). Constructing a composite financial inclusion index for developing economies. The Quarterly Review of Economics and Finance, 87, 257–265. https://doi.org/10.1016/j.qref.2021.01.003
61. TUIK. (2024). Quarterly Gross Domestic Product, Quarter IV: October-December, 2023 (Press Release 53756). Turkish Statistical Institute (TUIK). https://data.tuik.gov.tr/Bulten/Index?p=Quarterly-Gross-Domestic-Product-Quarter-IV:-October-December,-2023-53756
62. Ugur, A., & Tosun, N. (2023). Examining the Effect of Fear on Investment Decisions and Interpreting It with Psychological Factors: A Research on Turkiye2. SOSYOEKONOMI, 31(56), 325–354. https://doi.org/10.17233/sosyoekonomi.2023.02.15
63. Unsal, H., Caliskan, A., Kocak, D., & Erturk, Y. (2020). Prediction of Tax Revenues With Multivariable Grey Prediction Model Under The Scope Of Public Finance Management. Journal of Mehmet Akif Ersoy University Economics and Administrative Sciences Faculty, 7, 1104–1120. https://doi.org/10.30798/makuiibf.834239
64. Ünlüönen, S. F., & Özüdoğru, H. (2024). Covid-19 Sürecinde Yetişkinlerin Tamamlayıcı Sağlık Sigortasına Bakış Açıları Üzerine Bir Araştırma: Ankara İli Örneği. Ankara Hacı Bayram Veli Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 26(1), Article 1. https://doi.org/10.26745/ahbvuibfd.1386419
65. van Eck, N. J., & Waltman, L. (2007). VOS: A New Method for Visualizing Similarities Between Objects. In R. Decker & H.-J. Lenz (Eds.), Advances in Data Analysis (pp. 299–306). Springer. https://doi.org/10.1007/978-3-540-70981-7_34
66. van Eck, N. J., & Waltman, L. (2022). VOSviewer Manual. Universiteit Leiden. https://www.vosviewer.com/documentation/Manual_VOSviewer_1.6.18.pdf
67. Van Oudheusden, P., Klapper, L., Demirguc-Kunt, A., & Singer, D. (2015). The global findex database 2014: Measuring financial inclusion around the world [Work in Progress]. World Bank. https://gflec.org/wp-content/uploads/2015/09/van-Oudheusden-Findex_GFLEC.pdf
68. Zeyneloglu, I. (2018). Fiscal policy effectiveness and the golden rule of public finance. Central Bank Review, 18(3), 85–93. https://doi.org/10.1016/j.cbrev.2018.08.001
69. Zupic, I., & Čater, T. (2015). Bibliometric Methods in Management and Organization. Organizational Research Methods, 18(3), 429–472. https://doi.org/10.1177/1094428114562629