The Real Effects of Bank Restructuring in the Wake of Crisis: Evidence from Turkey

Yıl 2018, Cilt: 4 Sayı: 2, 57 - 72, 01.06.2018

Fatih Cemil Özbuğday , Önder Özgür

Öz

Following the two severe crises in the beginnings of 2000s, Turkey had to implement a radical set of reforms in her banking sector. This study is the first attempt to empirically investigate the spillover effects of these reforms on the real economy. Using industry-level data for the period 1998-2003, the study employs a difference-in-differences approach. The set of findings indicate that the restructuring reforms had positive spillovers for bank-dependent large firms, small firms were not able to shield themselves from the stricter measures over banks restricted bank-dependent firms to access external funds. All these findings have important implications for policymakers

Anahtar Kelimeler

Banking Reform, Industry, Firm Size, Firm Finance

Kriz Sonrası Bankacılık Sektörünün Yeniden Yapılandırılmasının Reel Etkileri: Türkiye Örneği

Öz

2000’li yılların başında yaşadığı iki ciddi kriz sonrasında Türkiye bankacılık sektörü adına bir dizi radikal reform tesis etmiştir. Bu çalışma, tespit edebildiğimiz kadarıyla söz konusu bankacılık reformlarının reel ekonomi üzerindeki taşma etkilerini ampirik olarak araştırmayı deneyen ilk çalışmadır. Endüstri düzeyinde veriler vasıtasıyla 1998-2003 periyodunun incelendiği çalışmada farkların farkı kullanılmıştır. Çalışmanın sonuçları, yeniden yapılandırma reformlarının bankalara bağımlı büyük firmalar üzerinde olumlu taşma etkileri olduğunu, küçük firmaların kendilerini bankacılık sisteminde hayata geçirilen katı önlemlerin sebep olduğu sonuçlardan korumakta yetersiz olduklarını ve bankalar üzerindeki bu sıkı denetimin, bankalara bağımlı firmaların dış finansmana erişimini kısıtladığını ortaya koymaktadır. Söz konusu tüm bulgular politika yapıcılar açısından önemli sonuçlar barındırmaktadır.

Anahtar Kelimeler

Bankacılık Reformu, Endüstri, Firma Büyüklüğü, Firma Finansmanı

Kaynakça

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