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Avrupa Birliği ülkeleri arasında banka sermaye yapısı açısından yakınsama

Year 2024, Volume: 14 Issue: 2, 789 - 801, 25.06.2024
https://doi.org/10.30783/nevsosbilen.1464698

Abstract

Bankacılık sektörü açısından sermaye yapısı kararları, diğer sektörlere kıyasla özsermayenin aktiflere oranının düşük olması ve bunun finansal kaldıraç üzerindeki duyarlılığı artırması nedeniyle özellikle önemlidir. Ayrıca banka sağlamlılığının bir göstergesi olması, pek çok mevzuatsal düzenlemeyle şekillendirilmiş olması, düzenleyici otoriteler, yöneticiler, derecelendirme kuruluşları ve hissedarlar açısından da önemli olması sebebiyle dikkat çekicidir. Bu önemine binaen bankaların, düzenleyici otoriteler ve derecelendirme kuruluşları tarafından belirlenen ve izlenen asgari sermaye oranını korumaları gerekmektedir.
Bu çalışmanın amacı bankacılık sektörünün önemli göstergelerinden birisi olan banka sermayesinin aktiflere oranı açısından Avrupa Birliği üyesi ve aday ülkelerin yakınsama durumunu ortaya koymaktır. 2005-2024 dönemi verileri kullanılarak PANIC-LM testi ile yapılan analizler, değerlendirmeye alınan yirmi sekiz ülkeden sekizinin (Avusturya, Belçika, Bulgaristan, Hırvatistan, Estonya, Finlandiya, Letonya ve Lüksemburg) birbirine yakınsama eğilimi gösterdiğini ortaya koymuştur. Çalışma güncel bir yakınsama analizi kullanılması ve literatürde ilk defa bu açıdan AB ülkelerinin ele alınması sebebiyle literatürdeki önemli bir boşluğu doldurmaktadır. Ortaya konulan sonuçlar politika yapıcılar ve araştırmacılar açısından yol gösterici önemli bulgular içermektedir.

References

  • Abbas, F., Yousaf, I., Ali, S., & Wong, W.-K. (2021). Bank Capital Buffer and Economic Growth: New Insights from the US Banking Sector. Journal of Risk and Financial Management, 14(4), Article 4. https://doi.org/10.3390/jrfm14040142
  • Ahmed, A. D. (2010). Financial liberalization, financial development and growth linkages in Sub‐Saharan African countries: An empirical investigation. Studies in Economics and Finance, 27(4), 314-339. https://doi.org/10.1108/10867371011085156
  • Aiyar, S., Calomiris, C. W., & Wieladek, T. (2014). Does Macro-Prudential Regulation Leak? Evidence from a UK Policy Experiment. İçinde Journal of Money, Credit and Banking (C. 46, Sayı s1, ss. 181-214). https://onlinelibrary.wiley.com/doi/abs/10.1111/jmcb.12086
  • Aiyar, S., Calomiris, C. W., & Wieladek, T. (2016). How does credit supply respond to monetary policy and bank minimum capital requirements? European Economic Review, 82, 142-165. https://doi.org/10.1016/j.euroecorev.2015.07.021
  • Akhmedjonov, A., & Balci Izgi, B. (2015). If bank capital matters, then how? The effect of bank capital on profitability of Turkish banks during the recent financial crisis. Macroeconomics and Finance in Emerging Market Economies, 8(1-2), 160-166. https://doi.org/10.1080/17520843.2014.940988
  • Andersen, T. B., & Tarp, F. (2003). Financial liberalization, financial development and economic growth in LDCs. Journal of International Development, 15(2), 189-209. https://doi.org/10.1002/jid.971
  • Angelini, P., Clerc, L., Cúrdia, V., Gambacorta, L., Gerali, A., Locarno, A., Motto, R., Roeger, W., Van den Heuvel, S., & Vlček, J. (2015). Basel III: Long-term Impact on Economic Performance and Fluctuations. The Manchester School, 83(2), 217-251. https://doi.org/10.1111/manc.12056
  • Apergis, N., Christou, C., & Miller, S. (2012). Convergence patterns in financial development: Evidence from club convergence. Empirical Economics, 43(3), 1011-1040. https://doi.org/10.1007/s00181-011-0522-8
  • Badarau, C., & Roussel, C. (2022). A theoretical foundation for prudential authorities decision making. International Economics, 172, 451-462. https://doi.org/10.1016/j.inteco.2022.01.003
  • Bai, J., & Ng, S. (2002). Determining the Number of Factors in Approximate Factor Models. Econometrica, 70(1), 191-221. https://doi.org/10.1111/1468-0262.00273
  • Bai, J., & Ng, S. (2004). A PANIC Attack on Unit Roots and Cointegration. Econometrica, 72(4), 1127-1177. https://doi.org/10.1111/j.1468-0262.2004.00528.x
  • Basha, M., Reddy, K., Mubeen, S., Raju, K. H. H., & Jalaja, V. (2023). Does the Performance of Banking Sector Promote Economic Growth? A Time Series Analysis. International Journal of Professional Business Review: Int. J. Prof. Bus. Rev., 8(6), 7.
  • Bichsel, R., Lambertini, L., Mukherjee, A., & Wunderli, D. (2022). The pass-through of bank capital requirements to corporate lending spreads. Journal of Financial Stability, 58, 100910. https://doi.org/10.1016/j.jfs.2021.100910
  • Bouheni, F. B., & Hasnaoui, A. (2017). Cyclical behavior of the financial stability of eurozone commercial banks. Economic Modelling, 67, 392-408. https://doi.org/10.1016/j.econmod.2017.02.018
  • Bouteska, A., Büyükoğlu, B., & Ekşi, I. H. (2023). How effective are banking regulations on banking performance and risk? Evidence from selected European countries. Finance Research Letters, 53, 103604. https://doi.org/10.1016/j.frl.2022.103604
  • Breusch, T. S., & Pagan, A. R. (1980). The Lagrange multiplier test and its applications to model specification in econometrics. The review of economic studies, 47(1), 239-253. https://doi.org/10.2307/2297111
  • Bridges, J., Gregory, D., Nielsen, M., Pezzini, S., Radia, A., & Spaltro, M. (2014). The Impact of Capital Requirements on Bank Lending (SSRN Scholarly Paper 2388773). https://doi.org/10.2139/ssrn.2388773
  • Cernohorska, L. (2015). Impact of Financial Crisis on the Stability Banking Sectors in the Czech Republic and Great Britain. Procedia Economics and Finance, 26, 234-241. https://doi.org/10.1016/S2212-5671(15)00824-2
  • Conti, A. M., Nobili, A., & Signoretti, F. M. (2023). Bank capital requirement shocks: A narrative perspective. European Economic Review, 151, 104254. https://doi.org/10.1016/j.euroecorev.2022.104254
  • Cuong, L. K., & Pham, H. (2021). Direct and indirect impacts of European banks’ regulation. Finance Research Letters, 40, 101738. https://doi.org/10.1016/j.frl.2020.101738
  • Danisman, G. O., & Tarazi, A. (2024). Economic policy uncertainty and bank stability: Size, capital, and liquidity matter. The Quarterly Review of Economics and Finance, 93, 102-118. https://doi.org/10.1016/j.qref.2023.11.008
  • Demirgüç-Kunt, A., & Detragiache, E. (1998). The Determinants of Banking Crises in Developing and Developed Countries. Staff Papers, 45(1), 81-109. https://doi.org/10.2307/3867330
  • Evans, J. J., & Haq, M. (2022). Does bank capital reduce liquidity creation? Global Finance Journal, 54, 100640. https://doi.org/10.1016/j.gfj.2021.100640
  • Fung, M. K. (2009). Financial development and economic growth: Convergence or divergence? Journal of International Money and Finance, 28(1), 56-67. https://doi.org/10.1016/j.jimonfin.2008.08.001
  • Garel, A., & Petit-Romec, A. (2017). Bank capital in the crisis: It’s not just how much you have but who provides it. Journal of Banking & Finance, 75, 152-166. https://doi.org/10.1016/j.jbankfin.2016.11.009
  • Gopalakrishnan, B., Jacob, J., & Mohapatra, S. (2021). Risk-sensitive Basel regulations and firms’ access to credit: Direct and indirect effects. Journal of Banking & Finance, 126, 106101. https://doi.org/10.1016/j.jbankfin.2021.106101
  • Kanga, D., Murinde, V., & Soumaré, I. (2020). Capital, risk and profitability of WAEMU banks: Does bank ownership matter? Journal of Banking & Finance, 114, 105814. https://doi.org/10.1016/j.jbankfin.2020.105814
  • Kazak, H. (2022). The Case of Turkey in Terms of COVID- 19 and Non- Performing Loans (NPL). İçinde Digital Transformation and New Approaches in Trade, Economics, Finance and Banking (ss. 97-133). Peter Lang GmbH.
  • 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(Supplement 1), S15-S29. https://doi.org/10.1016/j.bir.2023.09.004
  • Kitchen, R. L. (1986). Finance for the Developing Countries. Wiley.
  • Klein, P.-O., & Turk-Ariss, R. (2022). Bank capital and economic activity. Journal of Financial Stability, 62, 101068. https://doi.org/10.1016/j.jfs.2022.101068
  • Lee, J., Payne, J. E., & Islam, M. T. (2021). A Survey of Econometric Approaches to Convergence Tests of Emissions and Measures of Environmental Quality. Içinde Oxford Research Encyclopedia of Economics and Finance. https://doi.org/10.1093/acrefore/9780190625979.013.668
  • Lee, J., & Strazicich, M. C. (2003). Minimum Lagrange Multiplier Unit Root Test with Two Structural Breaks. The Review of Economics and Statistics, 85(4), 1082-1089. https://doi.org/10.1162/003465303772815961
  • Levine, R., & Zervos, S. (1998). Stock Markets, Banks, and Economic Growth. The American Economic Review, 88(3), 537-558.
  • McKinnon, R. I. (1973). Money and capital in economic development. The Brookings Institution.
  • Mukherjee, P., Bhattacharya, P., & Roy Chowdhury, S. (2022). Financial Liberalization and Convergence of Financial Development Among BRICS Economies. Içinde P. Mukherjee (Ed.), Revisiting the Indian Financial Sector: Recent Issues and Perspectives (ss. 85-118). Springer Nature. https://doi.org/10.1007/978-981-16-7668-0_6
  • Mukherjee, P., Roy Chowdhury, S., & Bhattacharya, P. (2021). Does financial liberalization lead to financial development? Evidence from emerging economies. The Journal of International Trade & Economic Development, 30(8), 1263-1287. https://doi.org/10.1080/09638199.2021.1948589
  • Myers, S. C. (1977). Determinants of corporate borrowing. Journal of Financial Economics, 5(2), 147-175. https://doi.org/10.1016/0304-405X(77)90015-0
  • Nazlioglu, S., & Lee, J. (2020). Response surface estimates of the LM unit root tests. Economics Letters, 192, 109136. https://doi.org/10.1016/j.econlet.2020.109136
  • Nazlioglu, S., Lee, J., Tieslau, M., Karul, C., & You, Y. (2022). Smooth structural changes and common factors in nonstationary panel data: An analysis of healthcare expenditures†. Econometric Reviews, 42(1), 78-97. https://doi.org/10.1080/07474938.2022.2156740
  • Nguyen, Q. T. T., Gan, C., & Li, Z. (2019). Bank capital regulation: How do Asian banks respond? Pacific-Basin Finance Journal, 57, 101196. https://doi.org/10.1016/j.pacfin.2019.101196
  • Olszak, M., Roszkowska, S., & Kowalska, I. (2017). Do Microprudential Regulations and Supervision Affect the Link Between Lending and Capital Ratio in Economic Downturns of Large Banks in the EU? PROBLEMY ZARZADZANIA-MANAGEMENT ISSUES, 15(1, 2), 11-36. https://doi.org/10.7172/1644-9584.66.1
  • Payne, J. E., Lee, J., Islam, Md. T., & Nazlioglu, S. (2022). Stochastic convergence of per capita greenhouse gas emissions: New unit root tests with breaks and a factor structure. Energy Economics, 113, 106201. https://doi.org/10.1016/j.eneco.2022.106201
  • Pesaran, M. H. (2004). General Diagnostic Tests for Cross Section Dependence in Panels (SSRN Scholarly Paper 572504). https://doi.org/10.2139/ssrn.572504
  • Pesaran, M. H., Ullah, A., & Yamagata, T. (2008). A bias‐adjusted LM test of error cross‐section independence. The Econometrics Journal, 11(1), 105-127. https://doi.org/10.1111/j.1368-423X.2007.00227.x
  • Reichlin, L. (2014). Monetary Policy and Banks in the Euro Area: The Tale of Two Crises. Journal of Macroeconomics, 39, 387-400. https://doi.org/10.1016/j.jmacro.2013.09.012
  • Roulet, C. (2018). Basel III: Effects of capital and liquidity regulations on European bank lending. Journal of Economics and Business, 95, 26-46. https://doi.org/10.1016/j.jeconbus.2017.10.001
  • Schularick, M., & Taylor, A. M. (2012). Credit Booms Gone Bust: Monetary Policy, Leverage Cycles, and Financial Crises, 1870-2008. American Economic Review, 102(2), 1029-1061. https://doi.org/10.1257/aer.102.2.1029
  • Simion, D., Stanciu, M., & Armăşelu, S. (2015). Correlation Analysis Between Structure Financial System and Economic Growth in Romania. Procedia Economics and Finance, 32, 1332-1341. https://doi.org/10.1016/S2212-5671(15)01510-5
  • Teixeira, J. C. A., Silva, F. J. F., Fernandes, A. V., & Alves, A. C. G. (2014). Banks’ capital, regulation and the financial crisis. The North American Journal of Economics and Finance, 28, 33-58. https://doi.org/10.1016/j.najef.2014.01.002

Convergence among European Union countries in terms of bank capital structure

Year 2024, Volume: 14 Issue: 2, 789 - 801, 25.06.2024
https://doi.org/10.30783/nevsosbilen.1464698

Abstract

The objective of this study is to reveal the convergence status of the European Union member and candidate countries in terms of the ratio of bank capital to assets, which is one of the most important indicators of the banking sector. Using data for the period 2005-2024, the analysis conducted with the PANIC-LM test updated by Payne et al. (2022) shows that eight of the twenty-eight countries (Austria, Belgium, Bulgaria, Croatia, Estonia, Finland, Latvia, and Luxembourg) show a convergence trend. The study is unique in that it uses an up-to-date convergence analysis and is the first in the literature to consider EU countries in this respect. The results have important implications for policymakers and researchers and make an important contribution to the literature.

References

  • Abbas, F., Yousaf, I., Ali, S., & Wong, W.-K. (2021). Bank Capital Buffer and Economic Growth: New Insights from the US Banking Sector. Journal of Risk and Financial Management, 14(4), Article 4. https://doi.org/10.3390/jrfm14040142
  • Ahmed, A. D. (2010). Financial liberalization, financial development and growth linkages in Sub‐Saharan African countries: An empirical investigation. Studies in Economics and Finance, 27(4), 314-339. https://doi.org/10.1108/10867371011085156
  • Aiyar, S., Calomiris, C. W., & Wieladek, T. (2014). Does Macro-Prudential Regulation Leak? Evidence from a UK Policy Experiment. İçinde Journal of Money, Credit and Banking (C. 46, Sayı s1, ss. 181-214). https://onlinelibrary.wiley.com/doi/abs/10.1111/jmcb.12086
  • Aiyar, S., Calomiris, C. W., & Wieladek, T. (2016). How does credit supply respond to monetary policy and bank minimum capital requirements? European Economic Review, 82, 142-165. https://doi.org/10.1016/j.euroecorev.2015.07.021
  • Akhmedjonov, A., & Balci Izgi, B. (2015). If bank capital matters, then how? The effect of bank capital on profitability of Turkish banks during the recent financial crisis. Macroeconomics and Finance in Emerging Market Economies, 8(1-2), 160-166. https://doi.org/10.1080/17520843.2014.940988
  • Andersen, T. B., & Tarp, F. (2003). Financial liberalization, financial development and economic growth in LDCs. Journal of International Development, 15(2), 189-209. https://doi.org/10.1002/jid.971
  • Angelini, P., Clerc, L., Cúrdia, V., Gambacorta, L., Gerali, A., Locarno, A., Motto, R., Roeger, W., Van den Heuvel, S., & Vlček, J. (2015). Basel III: Long-term Impact on Economic Performance and Fluctuations. The Manchester School, 83(2), 217-251. https://doi.org/10.1111/manc.12056
  • Apergis, N., Christou, C., & Miller, S. (2012). Convergence patterns in financial development: Evidence from club convergence. Empirical Economics, 43(3), 1011-1040. https://doi.org/10.1007/s00181-011-0522-8
  • Badarau, C., & Roussel, C. (2022). A theoretical foundation for prudential authorities decision making. International Economics, 172, 451-462. https://doi.org/10.1016/j.inteco.2022.01.003
  • Bai, J., & Ng, S. (2002). Determining the Number of Factors in Approximate Factor Models. Econometrica, 70(1), 191-221. https://doi.org/10.1111/1468-0262.00273
  • Bai, J., & Ng, S. (2004). A PANIC Attack on Unit Roots and Cointegration. Econometrica, 72(4), 1127-1177. https://doi.org/10.1111/j.1468-0262.2004.00528.x
  • Basha, M., Reddy, K., Mubeen, S., Raju, K. H. H., & Jalaja, V. (2023). Does the Performance of Banking Sector Promote Economic Growth? A Time Series Analysis. International Journal of Professional Business Review: Int. J. Prof. Bus. Rev., 8(6), 7.
  • Bichsel, R., Lambertini, L., Mukherjee, A., & Wunderli, D. (2022). The pass-through of bank capital requirements to corporate lending spreads. Journal of Financial Stability, 58, 100910. https://doi.org/10.1016/j.jfs.2021.100910
  • Bouheni, F. B., & Hasnaoui, A. (2017). Cyclical behavior of the financial stability of eurozone commercial banks. Economic Modelling, 67, 392-408. https://doi.org/10.1016/j.econmod.2017.02.018
  • Bouteska, A., Büyükoğlu, B., & Ekşi, I. H. (2023). How effective are banking regulations on banking performance and risk? Evidence from selected European countries. Finance Research Letters, 53, 103604. https://doi.org/10.1016/j.frl.2022.103604
  • Breusch, T. S., & Pagan, A. R. (1980). The Lagrange multiplier test and its applications to model specification in econometrics. The review of economic studies, 47(1), 239-253. https://doi.org/10.2307/2297111
  • Bridges, J., Gregory, D., Nielsen, M., Pezzini, S., Radia, A., & Spaltro, M. (2014). The Impact of Capital Requirements on Bank Lending (SSRN Scholarly Paper 2388773). https://doi.org/10.2139/ssrn.2388773
  • Cernohorska, L. (2015). Impact of Financial Crisis on the Stability Banking Sectors in the Czech Republic and Great Britain. Procedia Economics and Finance, 26, 234-241. https://doi.org/10.1016/S2212-5671(15)00824-2
  • Conti, A. M., Nobili, A., & Signoretti, F. M. (2023). Bank capital requirement shocks: A narrative perspective. European Economic Review, 151, 104254. https://doi.org/10.1016/j.euroecorev.2022.104254
  • Cuong, L. K., & Pham, H. (2021). Direct and indirect impacts of European banks’ regulation. Finance Research Letters, 40, 101738. https://doi.org/10.1016/j.frl.2020.101738
  • Danisman, G. O., & Tarazi, A. (2024). Economic policy uncertainty and bank stability: Size, capital, and liquidity matter. The Quarterly Review of Economics and Finance, 93, 102-118. https://doi.org/10.1016/j.qref.2023.11.008
  • Demirgüç-Kunt, A., & Detragiache, E. (1998). The Determinants of Banking Crises in Developing and Developed Countries. Staff Papers, 45(1), 81-109. https://doi.org/10.2307/3867330
  • Evans, J. J., & Haq, M. (2022). Does bank capital reduce liquidity creation? Global Finance Journal, 54, 100640. https://doi.org/10.1016/j.gfj.2021.100640
  • Fung, M. K. (2009). Financial development and economic growth: Convergence or divergence? Journal of International Money and Finance, 28(1), 56-67. https://doi.org/10.1016/j.jimonfin.2008.08.001
  • Garel, A., & Petit-Romec, A. (2017). Bank capital in the crisis: It’s not just how much you have but who provides it. Journal of Banking & Finance, 75, 152-166. https://doi.org/10.1016/j.jbankfin.2016.11.009
  • Gopalakrishnan, B., Jacob, J., & Mohapatra, S. (2021). Risk-sensitive Basel regulations and firms’ access to credit: Direct and indirect effects. Journal of Banking & Finance, 126, 106101. https://doi.org/10.1016/j.jbankfin.2021.106101
  • Kanga, D., Murinde, V., & Soumaré, I. (2020). Capital, risk and profitability of WAEMU banks: Does bank ownership matter? Journal of Banking & Finance, 114, 105814. https://doi.org/10.1016/j.jbankfin.2020.105814
  • Kazak, H. (2022). The Case of Turkey in Terms of COVID- 19 and Non- Performing Loans (NPL). İçinde Digital Transformation and New Approaches in Trade, Economics, Finance and Banking (ss. 97-133). Peter Lang GmbH.
  • 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(Supplement 1), S15-S29. https://doi.org/10.1016/j.bir.2023.09.004
  • Kitchen, R. L. (1986). Finance for the Developing Countries. Wiley.
  • Klein, P.-O., & Turk-Ariss, R. (2022). Bank capital and economic activity. Journal of Financial Stability, 62, 101068. https://doi.org/10.1016/j.jfs.2022.101068
  • Lee, J., Payne, J. E., & Islam, M. T. (2021). A Survey of Econometric Approaches to Convergence Tests of Emissions and Measures of Environmental Quality. Içinde Oxford Research Encyclopedia of Economics and Finance. https://doi.org/10.1093/acrefore/9780190625979.013.668
  • Lee, J., & Strazicich, M. C. (2003). Minimum Lagrange Multiplier Unit Root Test with Two Structural Breaks. The Review of Economics and Statistics, 85(4), 1082-1089. https://doi.org/10.1162/003465303772815961
  • Levine, R., & Zervos, S. (1998). Stock Markets, Banks, and Economic Growth. The American Economic Review, 88(3), 537-558.
  • McKinnon, R. I. (1973). Money and capital in economic development. The Brookings Institution.
  • Mukherjee, P., Bhattacharya, P., & Roy Chowdhury, S. (2022). Financial Liberalization and Convergence of Financial Development Among BRICS Economies. Içinde P. Mukherjee (Ed.), Revisiting the Indian Financial Sector: Recent Issues and Perspectives (ss. 85-118). Springer Nature. https://doi.org/10.1007/978-981-16-7668-0_6
  • Mukherjee, P., Roy Chowdhury, S., & Bhattacharya, P. (2021). Does financial liberalization lead to financial development? Evidence from emerging economies. The Journal of International Trade & Economic Development, 30(8), 1263-1287. https://doi.org/10.1080/09638199.2021.1948589
  • Myers, S. C. (1977). Determinants of corporate borrowing. Journal of Financial Economics, 5(2), 147-175. https://doi.org/10.1016/0304-405X(77)90015-0
  • Nazlioglu, S., & Lee, J. (2020). Response surface estimates of the LM unit root tests. Economics Letters, 192, 109136. https://doi.org/10.1016/j.econlet.2020.109136
  • Nazlioglu, S., Lee, J., Tieslau, M., Karul, C., & You, Y. (2022). Smooth structural changes and common factors in nonstationary panel data: An analysis of healthcare expenditures†. Econometric Reviews, 42(1), 78-97. https://doi.org/10.1080/07474938.2022.2156740
  • Nguyen, Q. T. T., Gan, C., & Li, Z. (2019). Bank capital regulation: How do Asian banks respond? Pacific-Basin Finance Journal, 57, 101196. https://doi.org/10.1016/j.pacfin.2019.101196
  • Olszak, M., Roszkowska, S., & Kowalska, I. (2017). Do Microprudential Regulations and Supervision Affect the Link Between Lending and Capital Ratio in Economic Downturns of Large Banks in the EU? PROBLEMY ZARZADZANIA-MANAGEMENT ISSUES, 15(1, 2), 11-36. https://doi.org/10.7172/1644-9584.66.1
  • Payne, J. E., Lee, J., Islam, Md. T., & Nazlioglu, S. (2022). Stochastic convergence of per capita greenhouse gas emissions: New unit root tests with breaks and a factor structure. Energy Economics, 113, 106201. https://doi.org/10.1016/j.eneco.2022.106201
  • Pesaran, M. H. (2004). General Diagnostic Tests for Cross Section Dependence in Panels (SSRN Scholarly Paper 572504). https://doi.org/10.2139/ssrn.572504
  • Pesaran, M. H., Ullah, A., & Yamagata, T. (2008). A bias‐adjusted LM test of error cross‐section independence. The Econometrics Journal, 11(1), 105-127. https://doi.org/10.1111/j.1368-423X.2007.00227.x
  • Reichlin, L. (2014). Monetary Policy and Banks in the Euro Area: The Tale of Two Crises. Journal of Macroeconomics, 39, 387-400. https://doi.org/10.1016/j.jmacro.2013.09.012
  • Roulet, C. (2018). Basel III: Effects of capital and liquidity regulations on European bank lending. Journal of Economics and Business, 95, 26-46. https://doi.org/10.1016/j.jeconbus.2017.10.001
  • Schularick, M., & Taylor, A. M. (2012). Credit Booms Gone Bust: Monetary Policy, Leverage Cycles, and Financial Crises, 1870-2008. American Economic Review, 102(2), 1029-1061. https://doi.org/10.1257/aer.102.2.1029
  • Simion, D., Stanciu, M., & Armăşelu, S. (2015). Correlation Analysis Between Structure Financial System and Economic Growth in Romania. Procedia Economics and Finance, 32, 1332-1341. https://doi.org/10.1016/S2212-5671(15)01510-5
  • Teixeira, J. C. A., Silva, F. J. F., Fernandes, A. V., & Alves, A. C. G. (2014). Banks’ capital, regulation and the financial crisis. The North American Journal of Economics and Finance, 28, 33-58. https://doi.org/10.1016/j.najef.2014.01.002
There are 50 citations in total.

Details

Primary Language Turkish
Subjects Finance, Financial Econometrics
Journal Section Articles
Authors

Hasan Kazak 0000-0003-0699-5371

Early Pub Date June 20, 2024
Publication Date June 25, 2024
Submission Date April 3, 2024
Acceptance Date May 23, 2024
Published in Issue Year 2024 Volume: 14 Issue: 2

Cite

APA Kazak, H. (2024). Avrupa Birliği ülkeleri arasında banka sermaye yapısı açısından yakınsama. Nevşehir Hacı Bektaş Veli Üniversitesi SBE Dergisi, 14(2), 789-801. https://doi.org/10.30783/nevsosbilen.1464698