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AŞIRI KREDİ GENİŞLEMELERİNE BİR ÖNLEM OLARAK MAKRO İHTİYATİ POLİTİKALAR VE TÜRKİYE UYGULAMASI

Year 2020, Volume: 4 Issue: 2, 270 - 295, 27.12.2020

Ahu Meryem Erdoğan

Abstract

2008 yılı küresel finansal krizi 1929 yılı Ekonomik Buhranı sonrasında dünya çapında yaşanan en sarsıcı kriz olmuştur. Gelişmiş ülkelerin parasal genişleme politikaları, sermaye akımlarının gelişmekte olan piyasalara yönelmesine sebep olmuştur. Gelişmekte olan ülkelerin finansal piyasalarında aşırı kredi genişlemeleri, yüksel sistemik riskler ve cari işlem açıkları yaşanmıştır. Dolayısıyla yeni hedeflerle birlikte yeni araçlara ihtiyaç duyulmuş ve makro ihtiyati politika tedbirleri uygulanmaya başlanmıştır. Bu çalışmada aşırı kredi genişlemelerinin bankacılık sektöründeki yansımalarına yer verilmiş ve yeni politika tedbirlerinin Türkiye’deki 7 lider bankanın bireysel kredileri üzerindeki etkisi araştırılmıştır.

Keywords

Makro ihtiyati politikalar 2008 finansal krizi aşırı kredi genişlemeleri

References

  • Acharya, V., Philippon, T., Richardson, M., & Roubini, N. (2009), The financial crisis of 2007‐2009: Causes and remedies, Financial markets, institutions & instruments, 18(2), 89-137,
  • Adrian, T., & Shin, H. S. (2009), The shadow banking system: implications for financial regulation, FRB of New York Staff Report, (382),
  • Akyüz, Y. (1993), Financial liberalization: The Key Issues (No. 56), United Nations Conference on Trade and Development,
  • Ayyagari, M., Beck, T., & Martinez Peria, M. S. (2017), Credit growth and macroprudential policies: preliminary evidence on the firm level, BIS Paper, (91a),
  • Bakker, B. B., & Gulde, A. M. (2010), The credit boom in the EU new member states: Bad luck or bad policies?, IMF Working Papers, 1-45,
  • Bankacılık Düzenleme ve Denetleme Kurumu, (2010), 2010 Yılı Faaliyet Raporu, Basel Düzenlemeleri, 2010
  • Bank for International Settlements, The Impact of Sovereign Credit Risk on Bank Funding Conditions, CGFS Papers, No: 43,
  • Başçı, E., & Kara, H. (2011), Finansal İstikrar ve Para Politikası, İktisat İşletme ve Finans, 26 (302), 9-25,
  • Beyer, A., Nicoletti, G., Papadopoulou, N., Papsdorf, P., Rünstler, G., Schwarz, C., ... & Vergote, O. (2017), The transmission channels of monetary, macro-and microprudential policies and their interrelations (No. 191), ECB Occasional Paper,
  • Binici, M., Erol, H., Kara, H., Özlü, P., & Ünalmış, D. (2013), Faiz Koridoru bir Makro İhtiyati Araç Olabilir mi?, TCMB Ekonomi Notları, 20, 1-16
  • Black, L., Correa, R., Huang, X., & Zhou, H. (2016), The systemic risk of European banks during the financial and sovereign debt crises, Journal of Banking & Finance, 63, 107-125,
  • Board, F. S. (2013), Assessment methodology for the key attributes of effective resolution regimes for financial institutions, FSB Consultative document,
  • Borio, C. E., & Shim, I. (2007), What can (macro-) prudential policy do to support monetary policy?, BIS 80,
  • Brunnermeier, M. K. (2009), Deciphering the liquidity and credit crunch 2007-2008, Journal of Economic perspectives, 23(1), 77-100,
  • Bruno, V., Shim, I ve Shin, H. S. (2015), Comparative Assessment of Macroprudential Policies, Monetary and Economic Department, BIS Working Papers No 502,
  • Cerutti, E., Claessens, S., & Laeven, M. L. (2015), The use and effectiveness of macroprudential policies: new evidence (No. 15-61), International Monetary Fund,
  • Claessens, S., Ghosh, S. R., & Mihet, R. (2013), Macro-prudential policies to mitigate financial system vulnerabilities, Journal of International Money and Finance, 39, 153-185,
  • Dewatripont, M., Rochet, J. C., & Tirole, J. (2010), Balancing the banks: Global lessons from the financial crisis, Princeton University Press,
  • Duenwald, C., Gueorguiev, N., & Schaechter, A. (2007), Too much of a good thing? Credit booms in transition economies: The cases of Bulgaria, Romania, and Ukraine, In Rapid Credit Growth in Central and Eastern Europe (pp. 236-263), Palgrave Macmillan, London,
  • Epure, M, Mihai, I., Minoiu, C. ve Peydro, J.L. (2017), Household Credit, Global Financial Cycle, and Macroprudential Policies: Credit Register Evidence from an Emerging Country, ICREA-Universitat Pompeu Fabra, CREI, Barcelona GSE, CEPR,
  • Erdem, E., İlgün, M. F., & Dumrul, C. (2011), Finansal İstikrarın Bankacılık Sisteminin Borç Verme Politikaları Üzerindeki Etkisi: 2008 Küresel Krizi Çerçevesinde Türkiye Üzerine Bir İnceleme, Journal of BRSA Banking & Financial Markets, 5(1),
  • Erdönmez, P. A. (2009), Küresel kriz ve ülkeler tarafından alınan önlemler kronolojisi, Bankacılar Dergisi, 68, 85-101,
  • Eşsiz, F. P., & Karabulut, K. (2018), Finansal İstikrarın Sağlanması Adına Makro İhtiyati Politikaların Kredi Büyümesi Üzerindeki Etkinliğinin Dinamik Panel Veri Yöntemiyle Ölçülmesi: 2000-2013.,Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, 32(3), 661-681,
  • Ganioğlu, A., & Us, V. (2014), The structure of the Turkish banking sector before and after the global crisis, CBRT Working Paper No. 14/29,
  • Gourinchas, P. O., Rodrigo, V. and Landerretche, O. (2001), Lending Booms: Latin America and the World, Working Paper, No. 82495, NBER,
  • Habermeier, K., Kokenyne, A. and Baba, C. (2011), The Effectiveness of Capital Controls and Prudential Policies in Managing Large Inflows, IMF Monetary And Capital Markets Department,
  • Humphrey, C., Loft, A., & Woods, M. (2009), The global audit profession and the international financial architecture: Understanding regulatory relationships at a time of financial crisis, Accounting, Organizations and Society, 34(6-7), 810-825,
  • Jordà, Ò., Schularick, M., & Taylor, A. M. (2011), Financial crises, credit booms, and external imbalances: 140 years of lessons, IMF Economic Review, 59(2), 340-378,
  • Kama, U., & Adigun, M. (2013), Issues and Challenges for the Design and Implementation of Macro-prudential Policy in Nigeria,
  • Kruszka, M. and Kowalczyk, M. (2011), Macro-Prudential Regulation of Credit booms and Busts, The Case of Poland, The World Bank, Europe and Central Asia Region Office of the Chief Economist, Policy Research Working Paper 5832,
  • Longstaff, F. A. (2010), The subprime credit crisis and contagion in financial markets, Journal of Financial Economics, 97(3), 436-450,
  • Nesvetailova, A. (2015), A crisis of the overcrowded future: Shadow banking and the political economy of financial innovation, New Political Economy, 20(3), 431-453,
  • Özatay, F. (2013), Parasal İktisat: Kuram ve Politika, Elif Yayınevi,
  • Reinhart, C. M., & Rogoff, K. S. (2009), The aftermath of financial crises, American Economic Review, 99(2), 466-72,
  • Rona-Tas, A., & Hiss, S. (2010), The role of ratings in the subprime mortgage crisis: The art of corporate and the science of consumer credit rating, Research in the Sociology of Organizations, 30(1), 115-55,
  • Schularick, M. and Taylor, A. M., (2012), Credit Booms Gone Bust: Monetary Policy, Leverage Cycles, and Financial Crises, 1870-2008, American Economic Review, American Economic Association, vol. 102(2), Pages 1029-61,
  • Stiglitz, J. E. (1993), The role of the state in financial markets, The World Bank Economic Review, 7(suppl_1), 19-52,
  • Strahan, P. E. (2012), Liquidity risk and credit in the financial crisis, FRBSF Economic Letter, 15, 14,
  • Türkiye Cumhuriyet Merkez Bankası, (2011), 2011 Yılında Para ve Kur Politikası, 2011
  • Türkiye Cumhuriyet Merkez Bankası, (2013a), Finansal İstikrar Raporu, 2013
  • Türkiye Cumhuriyet Merkez Bankası, (2013b), Parasal Aktarım Mekanizması, ISBN basılı: 978-605-5758- 88-2, ISBN elektronik: 978-605-5758-89-9, 2013
  • Türkiye Cumhuriyet Merkez Bankası, (2014), Makro İhtiyati Politikalar ve Türkiye Uygulaması, 2014
  • Türkiye Cumhuriyet Merkez Bankası, (2016), 2017 Yılında Para ve Kur Politikası, 2016,
  • Türkiye Cumhuriyet Merkez Bankası, (2019), 2020 Yılında Para ve Kur Politikası, 2019,
  • Tovar Mora, C. E., Garcia-Escribano, M., & Vera Martin, M. (2012), Credit growth and the effectiveness of reserve requirements and other macroprudential instruments in Latin America,
  • Tunay, K. B., (2015), Kredi Portföylerinde Sektörel Yoğunlaşma ve Risk İlişkisi: Türk Ticari Bankacılık Sektörü Üzerine Bir Analiz, BDDK Bankacılık ve Finansal Piyasalar, Cilt 9, Sayı: 1,
  • Vural, U. (2013), Geleneksel Olmayan Para Politikalarının Yükselişi, TCMB Uzmanlık Yeterlilik Tezi, Ankara, 7-24.

Year 2020, Volume: 4 Issue: 2, 270 - 295, 27.12.2020

Ahu Meryem Erdoğan

Abstract

References

  • Acharya, V., Philippon, T., Richardson, M., & Roubini, N. (2009), The financial crisis of 2007‐2009: Causes and remedies, Financial markets, institutions & instruments, 18(2), 89-137,
  • Adrian, T., & Shin, H. S. (2009), The shadow banking system: implications for financial regulation, FRB of New York Staff Report, (382),
  • Akyüz, Y. (1993), Financial liberalization: The Key Issues (No. 56), United Nations Conference on Trade and Development,
  • Ayyagari, M., Beck, T., & Martinez Peria, M. S. (2017), Credit growth and macroprudential policies: preliminary evidence on the firm level, BIS Paper, (91a),
  • Bakker, B. B., & Gulde, A. M. (2010), The credit boom in the EU new member states: Bad luck or bad policies?, IMF Working Papers, 1-45,
  • Bankacılık Düzenleme ve Denetleme Kurumu, (2010), 2010 Yılı Faaliyet Raporu, Basel Düzenlemeleri, 2010
  • Bank for International Settlements, The Impact of Sovereign Credit Risk on Bank Funding Conditions, CGFS Papers, No: 43,
  • Başçı, E., & Kara, H. (2011), Finansal İstikrar ve Para Politikası, İktisat İşletme ve Finans, 26 (302), 9-25,
  • Beyer, A., Nicoletti, G., Papadopoulou, N., Papsdorf, P., Rünstler, G., Schwarz, C., ... & Vergote, O. (2017), The transmission channels of monetary, macro-and microprudential policies and their interrelations (No. 191), ECB Occasional Paper,
  • Binici, M., Erol, H., Kara, H., Özlü, P., & Ünalmış, D. (2013), Faiz Koridoru bir Makro İhtiyati Araç Olabilir mi?, TCMB Ekonomi Notları, 20, 1-16
  • Black, L., Correa, R., Huang, X., & Zhou, H. (2016), The systemic risk of European banks during the financial and sovereign debt crises, Journal of Banking & Finance, 63, 107-125,
  • Board, F. S. (2013), Assessment methodology for the key attributes of effective resolution regimes for financial institutions, FSB Consultative document,
  • Borio, C. E., & Shim, I. (2007), What can (macro-) prudential policy do to support monetary policy?, BIS 80,
  • Brunnermeier, M. K. (2009), Deciphering the liquidity and credit crunch 2007-2008, Journal of Economic perspectives, 23(1), 77-100,
  • Bruno, V., Shim, I ve Shin, H. S. (2015), Comparative Assessment of Macroprudential Policies, Monetary and Economic Department, BIS Working Papers No 502,
  • Cerutti, E., Claessens, S., & Laeven, M. L. (2015), The use and effectiveness of macroprudential policies: new evidence (No. 15-61), International Monetary Fund,
  • Claessens, S., Ghosh, S. R., & Mihet, R. (2013), Macro-prudential policies to mitigate financial system vulnerabilities, Journal of International Money and Finance, 39, 153-185,
  • Dewatripont, M., Rochet, J. C., & Tirole, J. (2010), Balancing the banks: Global lessons from the financial crisis, Princeton University Press,
  • Duenwald, C., Gueorguiev, N., & Schaechter, A. (2007), Too much of a good thing? Credit booms in transition economies: The cases of Bulgaria, Romania, and Ukraine, In Rapid Credit Growth in Central and Eastern Europe (pp. 236-263), Palgrave Macmillan, London,
  • Epure, M, Mihai, I., Minoiu, C. ve Peydro, J.L. (2017), Household Credit, Global Financial Cycle, and Macroprudential Policies: Credit Register Evidence from an Emerging Country, ICREA-Universitat Pompeu Fabra, CREI, Barcelona GSE, CEPR,
  • Erdem, E., İlgün, M. F., & Dumrul, C. (2011), Finansal İstikrarın Bankacılık Sisteminin Borç Verme Politikaları Üzerindeki Etkisi: 2008 Küresel Krizi Çerçevesinde Türkiye Üzerine Bir İnceleme, Journal of BRSA Banking & Financial Markets, 5(1),
  • Erdönmez, P. A. (2009), Küresel kriz ve ülkeler tarafından alınan önlemler kronolojisi, Bankacılar Dergisi, 68, 85-101,
  • Eşsiz, F. P., & Karabulut, K. (2018), Finansal İstikrarın Sağlanması Adına Makro İhtiyati Politikaların Kredi Büyümesi Üzerindeki Etkinliğinin Dinamik Panel Veri Yöntemiyle Ölçülmesi: 2000-2013.,Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, 32(3), 661-681,
  • Ganioğlu, A., & Us, V. (2014), The structure of the Turkish banking sector before and after the global crisis, CBRT Working Paper No. 14/29,
  • Gourinchas, P. O., Rodrigo, V. and Landerretche, O. (2001), Lending Booms: Latin America and the World, Working Paper, No. 82495, NBER,
  • Habermeier, K., Kokenyne, A. and Baba, C. (2011), The Effectiveness of Capital Controls and Prudential Policies in Managing Large Inflows, IMF Monetary And Capital Markets Department,
  • Humphrey, C., Loft, A., & Woods, M. (2009), The global audit profession and the international financial architecture: Understanding regulatory relationships at a time of financial crisis, Accounting, Organizations and Society, 34(6-7), 810-825,
  • Jordà, Ò., Schularick, M., & Taylor, A. M. (2011), Financial crises, credit booms, and external imbalances: 140 years of lessons, IMF Economic Review, 59(2), 340-378,
  • Kama, U., & Adigun, M. (2013), Issues and Challenges for the Design and Implementation of Macro-prudential Policy in Nigeria,
  • Kruszka, M. and Kowalczyk, M. (2011), Macro-Prudential Regulation of Credit booms and Busts, The Case of Poland, The World Bank, Europe and Central Asia Region Office of the Chief Economist, Policy Research Working Paper 5832,
  • Longstaff, F. A. (2010), The subprime credit crisis and contagion in financial markets, Journal of Financial Economics, 97(3), 436-450,
  • Nesvetailova, A. (2015), A crisis of the overcrowded future: Shadow banking and the political economy of financial innovation, New Political Economy, 20(3), 431-453,
  • Özatay, F. (2013), Parasal İktisat: Kuram ve Politika, Elif Yayınevi,
  • Reinhart, C. M., & Rogoff, K. S. (2009), The aftermath of financial crises, American Economic Review, 99(2), 466-72,
  • Rona-Tas, A., & Hiss, S. (2010), The role of ratings in the subprime mortgage crisis: The art of corporate and the science of consumer credit rating, Research in the Sociology of Organizations, 30(1), 115-55,
  • Schularick, M. and Taylor, A. M., (2012), Credit Booms Gone Bust: Monetary Policy, Leverage Cycles, and Financial Crises, 1870-2008, American Economic Review, American Economic Association, vol. 102(2), Pages 1029-61,
  • Stiglitz, J. E. (1993), The role of the state in financial markets, The World Bank Economic Review, 7(suppl_1), 19-52,
  • Strahan, P. E. (2012), Liquidity risk and credit in the financial crisis, FRBSF Economic Letter, 15, 14,
  • Türkiye Cumhuriyet Merkez Bankası, (2011), 2011 Yılında Para ve Kur Politikası, 2011
  • Türkiye Cumhuriyet Merkez Bankası, (2013a), Finansal İstikrar Raporu, 2013
  • Türkiye Cumhuriyet Merkez Bankası, (2013b), Parasal Aktarım Mekanizması, ISBN basılı: 978-605-5758- 88-2, ISBN elektronik: 978-605-5758-89-9, 2013
  • Türkiye Cumhuriyet Merkez Bankası, (2014), Makro İhtiyati Politikalar ve Türkiye Uygulaması, 2014
  • Türkiye Cumhuriyet Merkez Bankası, (2016), 2017 Yılında Para ve Kur Politikası, 2016,
  • Türkiye Cumhuriyet Merkez Bankası, (2019), 2020 Yılında Para ve Kur Politikası, 2019,
  • Tovar Mora, C. E., Garcia-Escribano, M., & Vera Martin, M. (2012), Credit growth and the effectiveness of reserve requirements and other macroprudential instruments in Latin America,
  • Tunay, K. B., (2015), Kredi Portföylerinde Sektörel Yoğunlaşma ve Risk İlişkisi: Türk Ticari Bankacılık Sektörü Üzerine Bir Analiz, BDDK Bankacılık ve Finansal Piyasalar, Cilt 9, Sayı: 1,
  • Vural, U. (2013), Geleneksel Olmayan Para Politikalarının Yükselişi, TCMB Uzmanlık Yeterlilik Tezi, Ankara, 7-24.
There are 47 citations in total.

Details

Primary Language Turkish
Journal Section Articles
Authors

Ahu Meryem Erdoğan 0000-0002-5604-9482

Publication Date December 27, 2020
Published in Issue Year 2020 Volume: 4 Issue: 2

Cite

APA Erdoğan, A. M. (2020). AŞIRI KREDİ GENİŞLEMELERİNE BİR ÖNLEM OLARAK MAKRO İHTİYATİ POLİTİKALAR VE TÜRKİYE UYGULAMASI. Ahi Evran Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, 4(2), 270-295.
AMA Erdoğan AM. AŞIRI KREDİ GENİŞLEMELERİNE BİR ÖNLEM OLARAK MAKRO İHTİYATİ POLİTİKALAR VE TÜRKİYE UYGULAMASI. the PEAJ. December 2020;4(2):270-295.
Chicago Erdoğan, Ahu Meryem. “AŞIRI KREDİ GENİŞLEMELERİNE BİR ÖNLEM OLARAK MAKRO İHTİYATİ POLİTİKALAR VE TÜRKİYE UYGULAMASI”. Ahi Evran Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi 4, no. 2 (December 2020): 270-95.
EndNote Erdoğan AM (December 1, 2020) AŞIRI KREDİ GENİŞLEMELERİNE BİR ÖNLEM OLARAK MAKRO İHTİYATİ POLİTİKALAR VE TÜRKİYE UYGULAMASI. Ahi Evran Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 4 2 270–295.
IEEE A. M. Erdoğan, “AŞIRI KREDİ GENİŞLEMELERİNE BİR ÖNLEM OLARAK MAKRO İHTİYATİ POLİTİKALAR VE TÜRKİYE UYGULAMASI”, the PEAJ, vol. 4, no. 2, pp. 270–295, 2020.
ISNAD Erdoğan, Ahu Meryem. “AŞIRI KREDİ GENİŞLEMELERİNE BİR ÖNLEM OLARAK MAKRO İHTİYATİ POLİTİKALAR VE TÜRKİYE UYGULAMASI”. Ahi Evran Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 4/2 (December 2020), 270-295.
JAMA Erdoğan AM. AŞIRI KREDİ GENİŞLEMELERİNE BİR ÖNLEM OLARAK MAKRO İHTİYATİ POLİTİKALAR VE TÜRKİYE UYGULAMASI. the PEAJ. 2020;4:270–295.
MLA Erdoğan, Ahu Meryem. “AŞIRI KREDİ GENİŞLEMELERİNE BİR ÖNLEM OLARAK MAKRO İHTİYATİ POLİTİKALAR VE TÜRKİYE UYGULAMASI”. Ahi Evran Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, vol. 4, no. 2, 2020, pp. 270-95.
Vancouver Erdoğan AM. AŞIRI KREDİ GENİŞLEMELERİNE BİR ÖNLEM OLARAK MAKRO İHTİYATİ POLİTİKALAR VE TÜRKİYE UYGULAMASI. the PEAJ. 2020;4(2):270-95.
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