Research Article
BibTex RIS Cite
Year 2022, Volume: 10 Issue: 1, 51 - 68, 30.06.2022
https://doi.org/10.17093/alphanumeric.934795

Abstract

References

  • Büyüköztürk, S. (2012). Sosyal bilimler için veri analizi el kitabı. Ankara: Pegem Akademi.
  • Berger, A. N., Klapper, L. F., & Turk, R. ARISS (2009). Bank Competition and Financial Stability. Journal of Financial Services Research, 35(2), 99-118. https://doi.org/10.1007/s10693-008-0050-7
  • Central Bank of the Republic of Turkey (2015). “Finansal İstikrar: Türkiye’de Finansal İstikrar Gelişmeleri.” Türkiye Cumhuriyet Merkez Bankası. https://www.tcmb.gov.tr/wps/wcm/connect/dc3570d0-3eeb-4393-9c4d-75d7e066c5f2/TCMB_KITAPCIK_2014.pdf?MOD=AJPERES&CACHEID=ROOTWORKSPACE-dc3570d0-3eeb-4393-9c4d-75d7e066c5f2-m5lk2Kv
  • Cheang, N., & Choy, I. (2011). Aggregate financial stability index for an early warning system. Macao Monetary Research Bulletin, 21(1), 27-51.
  • Ganic, M. (2012). The impact of the global financial crisis on the banking sector of Western Balkans: Cross-Country Comparison Analysis. Journal of Economic and Social Studies, 2(2).
  • Gençay, O. (2007). Finansal Dolarizasyon ve Finansal İstikrar Arasındaki İlişki: Türkiye Değerlendirmesi. [Dissertation, Central Bank of the Republic of Turkey].
  • Göker, Z. (2009). The Global Public Good: Financial Stability. Akdeniz İİBF Journal, 9(17), 7- 22.
  • Gujarati, D. (2004). Basic Econometrics Fourth (4th) Edition. McGraw Hill.
  • Hair, Joseph F., William C. Black, Barry J. Babin & Rolph E. Anderson (2014). Multivariate Data Analysis Seventh (7th) Edition. Pearson New International Edition. Pearson.
  • Hakkio, S. C. & W. R. Keeton (2009). Financial Stress: What Is It, How Can It be Measured, and Why Does It Matter? Federal Reserve Bank of Kansas City, Economic Review, Second Quarter, pp. 5-50.
  • Illing, M., & Liu, Y. (2006). Measuring financial stress in a developed country: An application to Canada. Journal of Financial Stability, 2(3), 243-265. https://doi.org/10.1016/j.jfs.2006.06.002
  • International Monetary Fund (2006). Financial Soundness Indicators Compilation Guide, IMF.
  • Kemalbay, G., & Korkmazoğlu, Ö. B. (2014). Categorical Principal Component Logistic Regression: A Case Study for Housing Loan Approval. Procedia-Social and Behavioral Sciences 109, 2014, pp 730-736. https://doi.org/10.1016/j.sbspro.2013.12.537
  • King, Jason E. (2007). Standardized coefficients in logistic regression. Annual meeting of the Southwest Educational Research Association, San Antonio, Texas.
  • Masud, M. & Haq, M. (2016). Financial Soundness Measurement and Trend Analysis of Commercial Banks in Bangladesh: An Observation of Selected Banks. European Journal of Business and Social Sciences, 4(10), 159-184.
  • Morales, M. A., & Estrada, D.(2010). A Financial Stability Index for Colombia. Annals of Finance 6.4, 555-581. https://doi.org/10.1007/s10436-010-0161-7
  • Organisation for Economic Co-operation and Development (2018). Composite Leading Indicator. https://data.oecd.org/leadind/composite-leading-indicator-cli.htm, 2018.
  • Oosterloo, S., de Haan, J., & Jong-A-Pin, R (2007). Financial Stability Reviews: A First Empirical Analysis. Journal of Financial Stability 2.4, 337-355. https://doi.org/10.1016/j.jfs.2006.11.001
  • Özince, Ersin. (2005). Finansal İstikrar, Basel II ve Bankalar Açısından Etkileri. Bankacılar Dergisi 53, 18-22.
  • Padoa-Schioppa,T.(2003). Central Banks and Financial Stability: Exploring the Land in Between. European Central Bank. Second ECB Central Banking Conference, 269-310. Schinasi, Garry J. (2004). Defining Financial Stability. IMF. WP/04, 2004, 187.
  • Tiryaki, G. & Yılmaz, A. (2012). The relationship of banking regulation and financial stability: Case of Turkish Economy In 1990 - 2010 Period. Marmara University Journal of Economic and Administrative Sciences, Volume: 32 - Issue: 1, 2012, 69-94.
  • Tokdemir E. (1981). Dış Ticaret Hadleri. İstanbul Üniversitesi İktisat Fakültesi Mecmuası, 38, 3-4.
  • Van Den End, Jan Willem (2006). “Indicator and Boundaries of Financial Stability.” Netherlands Central Bank. Research Department DNB Working Paper No. 097.
  • Wong, J., Wong, T. C., & Leung, P. (2007). A Leading Indicator Model of Banking Distress Developing an Early Warning System for Hong Hong and Other EMEAP Economies. Hong Kong Monetary Authority. Working Paper 22/200

Financial Stability and Creating Financial Stability Index for Turkey

Year 2022, Volume: 10 Issue: 1, 51 - 68, 30.06.2022
https://doi.org/10.17093/alphanumeric.934795

Abstract

This study aims to create an index, which will be used for monitoring financial stability for Turkey. For this purpose, firstly the concept of financial stability was defined. As a result of the literature review, the variables considered to give information about financial stability were examined and the variables were grouped by principal component analysis. Finally, generated factors were subjected to logistic regression. The variables which were examined in the study include a total of 57 quarters, which is between the second quarter of 2003 and the second quarter of 2017. Three different dependent variables were used in the logistic regression analysis, each of which was formed by taking into consideration the “break points” in the independent variable series. All variables included in the financial stability index were standardized. The financial stability index was formed with the results obtained by the logistic regression analysis, and then; the contribution of the variables to financial stability was interpreted. It will be possible that the stakeholders in the financial system have information about the expected change in the level of financial stability by monitoring the variables which were examined and used in the analysis.

References

  • Büyüköztürk, S. (2012). Sosyal bilimler için veri analizi el kitabı. Ankara: Pegem Akademi.
  • Berger, A. N., Klapper, L. F., & Turk, R. ARISS (2009). Bank Competition and Financial Stability. Journal of Financial Services Research, 35(2), 99-118. https://doi.org/10.1007/s10693-008-0050-7
  • Central Bank of the Republic of Turkey (2015). “Finansal İstikrar: Türkiye’de Finansal İstikrar Gelişmeleri.” Türkiye Cumhuriyet Merkez Bankası. https://www.tcmb.gov.tr/wps/wcm/connect/dc3570d0-3eeb-4393-9c4d-75d7e066c5f2/TCMB_KITAPCIK_2014.pdf?MOD=AJPERES&CACHEID=ROOTWORKSPACE-dc3570d0-3eeb-4393-9c4d-75d7e066c5f2-m5lk2Kv
  • Cheang, N., & Choy, I. (2011). Aggregate financial stability index for an early warning system. Macao Monetary Research Bulletin, 21(1), 27-51.
  • Ganic, M. (2012). The impact of the global financial crisis on the banking sector of Western Balkans: Cross-Country Comparison Analysis. Journal of Economic and Social Studies, 2(2).
  • Gençay, O. (2007). Finansal Dolarizasyon ve Finansal İstikrar Arasındaki İlişki: Türkiye Değerlendirmesi. [Dissertation, Central Bank of the Republic of Turkey].
  • Göker, Z. (2009). The Global Public Good: Financial Stability. Akdeniz İİBF Journal, 9(17), 7- 22.
  • Gujarati, D. (2004). Basic Econometrics Fourth (4th) Edition. McGraw Hill.
  • Hair, Joseph F., William C. Black, Barry J. Babin & Rolph E. Anderson (2014). Multivariate Data Analysis Seventh (7th) Edition. Pearson New International Edition. Pearson.
  • Hakkio, S. C. & W. R. Keeton (2009). Financial Stress: What Is It, How Can It be Measured, and Why Does It Matter? Federal Reserve Bank of Kansas City, Economic Review, Second Quarter, pp. 5-50.
  • Illing, M., & Liu, Y. (2006). Measuring financial stress in a developed country: An application to Canada. Journal of Financial Stability, 2(3), 243-265. https://doi.org/10.1016/j.jfs.2006.06.002
  • International Monetary Fund (2006). Financial Soundness Indicators Compilation Guide, IMF.
  • Kemalbay, G., & Korkmazoğlu, Ö. B. (2014). Categorical Principal Component Logistic Regression: A Case Study for Housing Loan Approval. Procedia-Social and Behavioral Sciences 109, 2014, pp 730-736. https://doi.org/10.1016/j.sbspro.2013.12.537
  • King, Jason E. (2007). Standardized coefficients in logistic regression. Annual meeting of the Southwest Educational Research Association, San Antonio, Texas.
  • Masud, M. & Haq, M. (2016). Financial Soundness Measurement and Trend Analysis of Commercial Banks in Bangladesh: An Observation of Selected Banks. European Journal of Business and Social Sciences, 4(10), 159-184.
  • Morales, M. A., & Estrada, D.(2010). A Financial Stability Index for Colombia. Annals of Finance 6.4, 555-581. https://doi.org/10.1007/s10436-010-0161-7
  • Organisation for Economic Co-operation and Development (2018). Composite Leading Indicator. https://data.oecd.org/leadind/composite-leading-indicator-cli.htm, 2018.
  • Oosterloo, S., de Haan, J., & Jong-A-Pin, R (2007). Financial Stability Reviews: A First Empirical Analysis. Journal of Financial Stability 2.4, 337-355. https://doi.org/10.1016/j.jfs.2006.11.001
  • Özince, Ersin. (2005). Finansal İstikrar, Basel II ve Bankalar Açısından Etkileri. Bankacılar Dergisi 53, 18-22.
  • Padoa-Schioppa,T.(2003). Central Banks and Financial Stability: Exploring the Land in Between. European Central Bank. Second ECB Central Banking Conference, 269-310. Schinasi, Garry J. (2004). Defining Financial Stability. IMF. WP/04, 2004, 187.
  • Tiryaki, G. & Yılmaz, A. (2012). The relationship of banking regulation and financial stability: Case of Turkish Economy In 1990 - 2010 Period. Marmara University Journal of Economic and Administrative Sciences, Volume: 32 - Issue: 1, 2012, 69-94.
  • Tokdemir E. (1981). Dış Ticaret Hadleri. İstanbul Üniversitesi İktisat Fakültesi Mecmuası, 38, 3-4.
  • Van Den End, Jan Willem (2006). “Indicator and Boundaries of Financial Stability.” Netherlands Central Bank. Research Department DNB Working Paper No. 097.
  • Wong, J., Wong, T. C., & Leung, P. (2007). A Leading Indicator Model of Banking Distress Developing an Early Warning System for Hong Hong and Other EMEAP Economies. Hong Kong Monetary Authority. Working Paper 22/200
There are 24 citations in total.

Details

Primary Language English
Subjects Operation
Journal Section Articles
Authors

Ahmet Zelka 0000-0002-1694-1660

Publication Date June 30, 2022
Submission Date May 8, 2021
Published in Issue Year 2022 Volume: 10 Issue: 1

Cite

APA Zelka, A. (2022). Financial Stability and Creating Financial Stability Index for Turkey. Alphanumeric Journal, 10(1), 51-68. https://doi.org/10.17093/alphanumeric.934795

Alphanumeric Journal is hosted on DergiPark, a web based online submission and peer review system powered by TUBİTAK ULAKBIM.

Alphanumeric Journal is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License