Banka Kartelinin Türkiye Kredi Pazarindaki Rekabeti Sınırlayıcı Etkileri

Year 2019, Volume: 27 Issue: 40, 211 - 227, 30.04.2019

Aydın Çelen

https://doi.org/10.17233/sosyoekonomi.2019.02.13

Abstract

Bu çalışmanın amacı, banka kartelinin Türkiye kredi pazarındaki rekabete olan etkisini ölçmektir. Buna yönelik olarak, alternatif arz ilişkisi tanımlarını temel alarak Bresnahan-Lau modelini kullandık. Sonuçlar, Turkiye’de bankaların kartel içerisinde olmadıkları dönemlerde tam rekabet koşullarında faaliyetlerini sürdürdüklerini göstermektedir. Ancak, kartelin aktif olarak yürütüldüğü Eylül 2007 ve Eylül 2011 ayları arasındaki dönemde, kredi pazarındaki rekabet önemli seviyede zarar görmüştür. Tüm alternatif model tanımlamaları, banka kartelinin kredi pazarındaki rekabeti olumsuz yönde etkilediğine işaret etmektedir.

Keywords

Kartel, Rekabet, Türkiye Bankacılık Sektörü, Bresnahan-Lau Modeli

Anticompetitive Effects of the Banking Cartel in Turkish Loan Market

Abstract

The aim of this paper is to measure the effect of the banking cartel on the competition in the Turkish loan market. In doing this, we use Bresnahan-Lau model with alternative supply relation definitions. Our results suggest that Turkish banks operate in the perfectly competitive conditions during the non-cartel period. However, with the enforcement of the cartel actively between September 2007 and September 2011, the competition intensity in the market was damaged significantly. All alternative models witness the robust conclusion that the banking cartel affected the competition in the loan market adversely.

Keywords

Cartel, Competition, Turkish Banking, Bresnahan-Lau Model

References

• Aydemir, R. (2013): Competition and Collusion in the Turkish Banking Industry. Emerging Markets Finance and Trade, 49(Suppl. 5): 31–40.
• Aydemir, R. (2014): Empirical Analysis of Collusive Behaviour in the Turkish Deposits Market, Economic Research-Ekonomska Istraživanja, 27(1): 527-538.
• Beck, T. (2008): Bank Competition and Financial Stability: Friends or Foes? Policy Research Working Paper 4656, World Bank, Washington, DC.
• Bowley, A. (1924): The Mathematical Groundwork of Economics. Oxford University Press.
• Bresnahan, T. F. (1982): The Oligopoly Solution Concept is Identified. Economic Letters, 10: 87-92.
• Buschena, D.E. & Perloff, J.M. (1991): The Creation of Dominant Firm Market Power in the Coconut Oil Export Market. American Journal of Agricultural Economics, 73:, 1001-1008.
• Carletti, E. &Hartmann, Ph. (2002): Competition and Stability in Banking: What’s Special about Banking. ECB Working Paper No. 146.
• Coccorese, P. &Pellecchia, A. (2013): Multimarket Contact, Competition and Pricing in Banking. Journal of International Money and Finance, 37: 187-214.
• Çelen, A. & Gunalp, B. (2010): Do Investigations of Competition Authorities Really Increase the Degree of Competition? An Answer From Turkish Cement Market. Prague Economic Papers, 19(2): 150–168.
• Demirel O., Hatırlı, S.A. (2017): Measuring the Market Power of the Banking Sector in Turkey. Akademik Araştırmalar ve Çalışmalar Dergisi, 9(16): 20-34.
• Gonlusen, Y. (2013): The Turkish Competition Board Imposes Fines on 12 Banks for Collusion in the Cash Deposit, Credit and Credit Card Services Markets. E-Competitions Bulletin. Art. No: 51291.
• Jung, C. &Seldon, B. J. (1995): The Degree of Competition in the Advertising Industry. Review of Industrial Organization, 10: 41-52.Korkmaz, A. (2010): Türk Mevduat Bankacılığı Sektöründe Rekabet Derecesi Bresnahan-Lau Modeli'nden Kanıtlar. Bankacılar Dergisi, 74: 3-19.
• Lau, L. J. (1982): On Identifying the Degree of Competitiveness from Industry Price and Output Data. Economics Letters, 10, 93-99.
• Leon, F. (2014): Measuring Competition in Banking: A Critical Review of Methods. HAL.
• Mensi, S. (2010): Measurement of Competitiveness Degree in Tunisian Deposit Banks: An application of the Panzar and Rosse model, Panoeconomicus, 57(2): 189-207.
• Nakane, M.I. (2001): A Test of Competition in Brazilian Banking. Central Bank of Brazil, Office of Sao Paulo, Research Department, Working Paper, No.12.
• Qin B. – Shaffer S. (2014): A Test of Competition in Chinese Banking, Applied Economics Letters, 21(9): 602–604.
• Reuters (2013): Turkish Banks Deny Cartel Involvement in Rate-Setting Probe. Retrieved from https://www.reuters.com/article/turkey-banks-probe/turkish-banks-deny-cartel-involvement-in-rate-setting-probe-idUSL6N0BP5BS20130225
• Sahin, E. (2017): The Cartel of 12 Turkish Banks and Consumer Harm: What Happens Now?, European Competition Law Review, 38(4): 180-186.
• Shaffer, S. (1989): Competition in the US Banking Industry, Economics Letters, 29: 321–323.
• Shaffer, S. (1993): A Test of Competition in Canadian Banking. Journal of Money, Credit, and Banking, 25(1): 49-60.
• Suominen, M. (1994): Measuring Competition in banking: A Two Product Model," Scandanavin Journal of Economics, 96: 95-110.
• Swank, J. (1995): Oligopoly in loan and deposit markets: an econometric application to the Netherlands". De Economist, 143: 353-366.
• TBB (2012): Türkiye’de Bankacılık Sektörü Piyasa Yapısı, Firma Davranışları ve Rekabet Analizi. Türkiye Bankalar Birliği, Yayın No. 280.
• Toolsema, L.A. (2002): Competition in the Dutch Consumer Credit Market. Journal of Banking and Finance, 26: 2215–2229.
• UNCTAD (2016): Competition Guidelines: Leniency Programme, United Nations Publication, UNCTAD/DITC/CLP/2016/3.
• Várhegyi, É. (2004): Bank competition in Hungary. Acta Oeconomica, 54(4): 403-424.
• Zardkoohi, A. & Fraser, D.R. (1998): Geographical Deregulation and Competition in US Banking Markets. Financial Review, 33: 85–98.