GEÇİŞ EKONOMİLERİNDE SEKTÖREL İSTİHDAMIN YABANCI BANKA GİRİŞLERİNE ETKİSİNİ BELİRLEMEYE YÖNELİK BİR UYGULAMA (1990–2010)

Abstract

Dünya ekonomilerinde yabancı sahipliği bankacılık sisteminde de kendini göstermiştir. İstikrarlı bir ekonomi için güçlü ve rekabetçi bir bankacılık sistemi gereklidir. Geçiş ekonomilerinin bankacılık sektörünün gelişiminde yabancı bankalar önemli bir rol oynamıştır. Bu çalışma; geçiş ekonomilerinde sektörsel istihdam değişkenlerinin yabancı banka girişlerine etkisini araştırmaktadır. Bu çalışmanın orijinalliği; yabancı banka girişlerinin belirleyicilerinden olan istihdam değişkeninin sektörsel biçimde incelenmesidir. Bu çerçevede yabancı banka girişlerinin belirleyicileri arasında; tarım, sanayi ve hizmetler sektörü istihdam büyümeleri çalışmanın modeline dâhil edilmiştir. Çalışmada 27 geçiş ekonomisinin 1990–2010 döneminde Panel Veri Analizi yapılmıştır. Elde edilen sonuçlara göre kontrol değişkenleri; şehirleşme büyüme oranı, toplam nüfus büyüme oranı, kişi başına düşen kredi miktarı ve doğrudan yabancı yatırımın GSYİH içindeki payı pozitif yönlü ve istatistiksel olarak anlamlı sonuçlar vermiştir. Bununla birlikte; toplam krediler içindeki yerine getirilmeyen kredilerin payı ve enflasyon oranları yabancı banka girişleri üzerinde negatif yönlü ve istatistiksel olarak anlamlı sonuçlar vermiştir. Sadece döviz kurları istatistiksel olarak anlamsız sonuçlar vermiştir. Sektörsel istihdam değişkenleri düşünüldüğünde ise; sanayi sektörü istihdam büyümesi ve hizmetler sektörü istihdam büyümesi değişkenlerinin yabancı banka girişleri üzerinde pozitif yönlü ve istatistiksel olarak anlamlı bir etkisi bulunmuştur. Diğer taraftan; tarım sektörü istihdam değişkenlerinin yabancı banka girişleri üzerinde istatistiksel olarak anlamlı bir etkisi bulunamamıştır

Keywords

• Yabancı Bankalar, Geçiş Ekonomileri, Yabancı Sahipliği, Sektörsel İstihdam

GEÇİŞ EKONOMİLERİNDE SEKTÖREL İSTİHDAMIN YABANCI BANKA GİRİŞLERİNE ETKİSİNİ BELİRLEMEYE YÖNELİK BİR UYGULAMA (1990–2010)

Abstract

Foreign ownership has standed out in banking sectors of world economies. Substantial and competitive banking system is required for a stable economy. Foreign banks have played an important role in development of banking sector in transition economies. This paper investigates the effects of employment variables on foreign bank entries in transition economies. This paper’s difference is to search sectoral determinants of foreign bank entries for employment variables. In this context, paper has main models that include agriculture, industry and service sectors of employment as determinants of foreign bank entries. This study uses Panel Data Analysis for 1990–2010 period in 27 transition economies. According to results, control variables that are urbanization growth rate, total population growth rate, credit per capita and the ratio of foreign direct investment to GDP have been shown to be positevly and statistically significant related to foreign bank entries. On the other hand, the ratio of non-performing loans to total loans and inflation rates have significantly negative sign on foreign bank entries. Exchange rates is only found statistically insignificant among all control variables. Employment growth of industy sector and employment growth of service sector have had a significantly positive impact on foreign bank entries. Conversely, employment growth of agriculture sector haven’t been a significantly effect on foreign bank entries

Keywords

• Foreign Banks, Transition Economies, Foreign Ownership, Sectoral Employment

References

1. AKBAR, Yusaf H. ve MCBRIDE, J. Brad, (2004), “Multinational Enterprise Strategy, Foreign Direct Investment and Economic Development: The Case of The Hungarian Industry”, Journal of World Business, Vol: 39, pp: 89–105.
2. ALHADEFF, David A. ve ALHADEFF, Charlotte P., (1976), “Growth and Survival Patterns of New Banks, 1948- 70”, Journal of Money, Credit and Banking, Vol: 8 (2), pp: 199-208.
3. BERGER, Allen N., HASAN, Iftekhar ve Klapper, Leora F., (2004), “Further Evidence on the Link between Finance and Growth: An International Analysis of Community Banking and Economic Performance”, World Bank Policy Research Working Paper, No. 3105.
4. BERTUS, Mark, JAHERA JR, John S. ve YOST, Keven, (2008), “A Note on Foreign Bank Ownership and Monitoring: An International Comparison”, Journal of Banking & Finance, Vol: 32, pp: 338-345.
5. BODENHORN, Howard, (2008), “Free Banking and Bank Entry in Nineteenth-Centry New York”, Financial History Review, Vol: 15 (2), pp: 175-201.
6. BONIN, John P. ve SCHNABEL, Isabel, (2011), “The Great Transformation: From Government-Owned to Foreign Controlled Banking Sector”, Economics of Transition, Vol: 19 (3), pp: 397–405.
7. BUCH, Claudia M., (1999), “Why Do Banks Go Abroad? Evidence from German Data”, Kiel Working Paper, No. 948.
8. CLAESSENS, Stijn, DEMIRGUC-KUNT, Aslı ve HUIZINGA, Harry, (2001), “How Does Foreign Entry Affect Domestic Banking Markets?”, Journal of Banking & Finance, Vol: 25, pp: 891-911.

9. CLARKE, George R.G., CULL, Robert ve PERIA, Maria Soledad Martinez, (2006), “Foreign Bank Participation and Access to Credit Across Firms in Developing Countries”, Journal of Comparative Economics, Vol: 34, pp: 774-795.
10. DOPICO, Luis G. ve WILCOX, James A., (2001), “Openness, Profit Opprotunities and Foreign Banking”, Journal of International Financial Markets, Institutions and Money, Vol: 12, pp: 299-320.
11. FISHER, A. ve MOLYNEUX, P., (1996), “A Note on the Determinants of Foreign Bank Activity in London Between 1980 and 1989”, Applied Financial Economics, Vol: 6, pp: 271-277.
12. FOCARELLI, Dario ve POZZOLA, Alberto Franco, (2001), “The Patterns of Cross-Border Bank Mergers and Shareholdings in OECD Countries”, Journal of Banking & Finance, Vol: 25, pp: 2305–2337.
13. HOREN, Neeltje Van, (2007), “Foreign Banking in Developing Countries; Origin Matters”, Emerging Markets Review, Vol: 8, pp: 81–105.
14. HRYCKIEWICZ, Aneta ve KOWALEWSKI, Oskar, (2008), “Economic Determinants and Entry Modes of Foreign Banks into Central Europe”, Wharton Financial Institutions Center Working Paper, No: 08-08.
15. HRYCKIEWICZ, Aneta ve KOWALEWSKI, Oskar, (2010), “Economic Determinates, Financial Crisis and Entry Modes of Foreign Banks into Emerging Markets”, Emerging Markets Review, Vol: 11, pp: 205–228.
16. KONOPIELKO, Lukasz, (1999), “Foreign Banks’ Entry into Central and East European Markets: Motives and Activities”, Post-Communist Economies, Vol: 11 (4), pp: 463–485.
17. LEUNG, M. K., YOUNG, T. ve RIGBY, D., (2003), “Explaining the Profitability of Foreign Banks in Shanghai”, Managerial and Decision Economics, Vol: 24, pp: 15-24.
18. MAGRI, Silvia, MORI, Alessandra ve ROSSI, Paola, (2005), “The Entry and the Activity Level of Foreign Banks in Italy: An Analysis of the Determinants”, Journal of Banking & Finance, Vol: 29, pp: 1295–1310.
19. MAMATZAKIS, E., STAIKOURAS, C. ve FILLIPAKI, N. Koutsomanoli, (2005), “Competition and Concentration in The Banking Sector of The South Eastern European Region”, Emerging Markets Review, Vol: 6, pp: 192-209.
20. MANNASOO, Kadri ve MAYES David G., (2009), “Explaining Bank Distress in Eastern European Transition Economies”, Journal of Banking & Finance, Vol: 33, pp: 244-253.
21. MARASHDEH, Omar, (1994), “Foreign Banks Activities and Factors Affecting Their Presence in Malaysia”, Asia Pasific Journal of Management, Vol: 11 (1), pp: 113–123.
22. MEGINSON, William L., (2005), “The Economics of Bank Privatization”, Journal of Banking & Finance, Vol:29, pp: 1931-1980.
23. MILLER, Stewart R. ve PARKHE, Arvind, (1998), “Patterns in the Expansion of U.S. Banks’ Foreign Operations”, Journal of International Business Studies, Vol: 29 (2), pp: 359–389.
24. MOSHIRIAN, Fariborz ve LAAN, Alex Van Der, (1998), “Trade in Financial Services and Determinants of Banks’ Foreign Assets”, Journal of Multinational Financial Management, Vol: 8, pp: 23–38.
25. MUTINELLI, Marco ve PISCITELLO, Lucia, (2001), “Foreign Direct Investment in the Banking Sector: The Case of Italian Banks in the ‘90s”, International Business Review, Vol: 10, pp: 661–685.
26. NAABORG, Ilko, SCHOLTENS, Bert, HAAN, Jakob de, BOL, Hanneke ve HAAS, Ralph de, (2004), “How Important are Foreign Banks in the Financial Development of European Transition Countries?”, Journal of Emerging Market Finance, Vol: 3, pp: 99- 123.
27. PAPI, Luca ve REVOLTELLA, Debora, (1999), “Foreign Direct Investment in the Banking Sector: A Transitional Economy Perspective”, Centro Studi Luca D’agliano Development Studies Working Papers, No: 133.
28. PEEK, Joe; ROSENGREN, Eric S. ve KASIRYE, Faith, (1999), “The Poor Performance of Foreign Bank Subsidiaries: Were The Problems Acquired or Created?”, Journal of Banking & Finance, Vol: 23, pp: 579–604.
29. PERIA, Maria Soledad Martinez, POWELL, Andrew ve VLADKOVA-HOLLAR, Ivanna, (2005), “Banking on Foreigners: The Behavior of International Bank Claims on Latin America, 1985–2000”, IMF Staff Papers, Vol: 52 (3), pp: 430–461.
30. RAMCHANDER, Sanjay, REICHERT, Alan ve JAYANTI, S V, (1999), “The Determinants of Foreign Bank Involvement in U.S. Banking Markets”, Managerial Finance, Vol: 25 (7), pp: 48–65.
31. VERNIKOV, Andrei V., (2007), “Russia’s Banking Sector Transition: Where to?”, BOFIT
32. Discussion Papers, No: 5.
33. VOINEA, Liviu ve MIHAESCU, Flaviu, (2006), “The Determinants of Foreign Banking Activity in South East Europe: Do FDI, Bilateral Trade and EU Policies Matter?”, Global Development Network Southeast Europe, July.
34. WRIGHT, April, (2002), “The Impact of Competition on the Operations of Foreign Banks in Australia in the Post- Deregulation Period”, Journal of International Financial Markets, Institutions and Money, Vol: 12, pp: 359–375.
35. YAMORI, Nobuyoshi, (1998), “A Note on the Location Choice of Multinational Banks: The Case of Japanese Financial Institutions”, Journal of Banking & Finance, Vol: 22, pp: 109-120.