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SEÇİLMİŞ OECD ÜLKELERİ İÇİN FİNANSAL İSTİKRAR ENDEKSİ ÖNERİSİ

Year 2023, Volume: 11 Issue: 2, 127 - 140, 21.12.2023

Abstract

Finansal istikrar, bir ekonomide finansal sistemin sağlıklı bir şekilde işlemesini ve risklerin minimum düzeyde olmasını sağlayan bir durumu ifade eder. Finansal istikrarın sağlanması, ekonomik büyüme, istihdam, fiyat istikrarı ve sürdürülebilir kalkınma gibi makroekonomik hedeflerin başarılmasında kritik bir rol oynar. Finansal istikrar endeksi, finansal sistemin istikrar düzeyini ölçmek ve değerlendirmek için kullanılan bir araçtır. Bu endeks, finansal göstergelerin ve verilerin birleştirilerek genel bir resmi sunar. Finansal istikrar endeksi oluşturulması, finansal riskleri, kırılganlıkları ve potansiyel sorunları tespit etmek, finansal istikrarı sağlamak için politika yapıcıların karar alma süreçlerine rehberlik etmek amacıyla yapılır. Bu çalışmada OECD ülkelerinde 2008-2021 dönemi için finansal istikrar endeksi oluşturulması amaçlanmıştır.

References

  • Aksu, S. (2017). Finansal İstikrar Göstergeleri ve Türkiye Ekonomisi İçin Finansal İstikrar Endeksi Önerisi, Balıkesir Üniversitesi Sosyal Bilimler Enstitüsü, Yüksek Lisans Tezi.
  • Aktaş, C. (2011). Finansal İstikrar Analizi Bağlamında Türkiye İçin Finansal İstikrar Endeksi Önerisi. Ankara Üniversitesi, Sosyal Bilimler Enstitüsü. Doktora Tezi. Ankara.
  • Albulescu, C. T., and Goyeau, D. (2010). Assessing and Forecasting Romanian Financial System’s Stability Using An Aggregate İndex. Romanian Journal of Economic Literature, 1.
  • Albulescu, C. T. (2008). Assessing Romanian Financial Sector Stability: The Importance of The International Economic Climate.
  • Al-Rjoub, S. A. (2021). A Financial Stability Index For Jordan. Journal Of Central Banking Theory And Practice, 10(2), 157-178.
  • Apatochiea, A., (2013). Central Banks and Financial Stability, SEA - Practical Application of Science, Vol. I, No. 1, s.245.
  • Cheang, N., and Choy, I. (2011). Aggregate Financial Stability Index For An Early Warning System. Macao Monetary Research Bulletin, 21(1), 27-51.
  • Çakmak, U. (2013). Finansal Kırılganlık Endeksi (Türkiye 1989-2011) ve Yorumlar. Uludağ Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 32(1), 239-260.
  • Çoban, S. and Topcu, M. (2013). The Nexus Between Financial Development And Energy Consumption In The Eu: A Dynamic Panel Data Analysis. Energy Economics, 39, 81-88.
  • Dienillah, A. A., Anggraeni, L., and Sahara, S. (2018). Impact Of Financial Inclusion on Financial Stability Based On Income Group Countries. Buletin Ekonomi Moneter dan Perbankan, 20(4), 429-442.
  • Guettafi, S., and Laib, Y. (2016). Resilience and Stability of Algeria’s Financial System towards-Resilience versus Stability-Approach. Journal of Economics and Development Studies, 4(1), 78-90.
  • IMF (2006) Indicators, Financial Soundness. “Compilation Guide.” Wash.
  • Jordan, A., and Smith, L. (2014). Measuring The Level of Financial Stability in The Bahamas. In 46th Annual Monetary Studies Conference: Macro-Prudential Supervision, Financial Stability And Monetary Policy, Central Bank of Trinidad and Tobago.
  • Kaminsky, G. L., and Reinhart, C. M. (1999). The Twin Crises: The Causes of Banking And Balance-Of-Payments Problems. American Economic Review, 89(3), 473-500.
  • Karanovic, G., and Karanovic, B. (2015). Developing An Aggregate Index For Measuring Financial Stability in The Balkans. Procedia Economics And Finance, 33, 3-17.
  • Kondratovs, K. (2014). Modelling Financial Stability Index For Latvian Financial System. Regional Formation and Development Studies, 8(3), 118-129.
  • Manolescu, C. M. and Manolescu, E. (2017). The Financial Stability Index-An İnsight İnto The Financial And Economic Conditions Of Romania. Theoretical & Applied Economics, 24(4).
  • Mishkin, F. S. (1999). Global Financial Instability: Framework, Events, Issues. Journal Of Economic Perspectives, 13(4), 3-20.
  • Morales, M. A., and Estrada, D. (2010). A Financial Stability Index For Colombia. Annals of Finance, 6(4), 555-581.
  • Morris, V. C. (2010). Measuring and Forecasting Financial Stability: The Composition of an Aggregate Financial Stability Index for Jamaica. Bank of Jamaica, 6(2), 34-51.
  • Nasreen, S., and Anwar, S. (2018). How Financial Stability Affects Economic Development In South Asia: A Panel Data Analysis. European Online Journal of Natural and Social Sciences, 7(1), pp-54.
  • Nayn, M. Z. and Siddiqui, M. S. (2014). Measuring Financial Stability: The Composition of an Aggregate Financial Stability Index for Bangladesh. Bank Parikrama, 39(2), 109-134.
  • OECD. (2008). Handbook on Constructing Composite Indicators: Methodology and User Guide.
  • Papademos, L. (2006, July). Price Stability, Financial Stability And Efficiency, And Monetary Policy. In Speech at the Third Conference of the Monetary Stability Foundation on Challenges to the Financial System-Ageing and Low Growth, Frankfurt am Main.
  • Rosengren, E. S. (2011, June). Defining Financial Stability, And Some Policy İmplications Of Applying The Definition. In Keynote Remarks At The Stanford Finance Forum (Vol. 28). Graduate School of Business, Stanford University.
  • Sakarya, Ş. ve Akkuş, H. T. (2017). Türk Bankacılık Sektöründeki Katılım Bankalarının Finansal İstikrarının Stres Testi Yöntemi ile Analizi. Balıkesir Üniversitesi, Sosyal Bilimler Enstitüsü Dergisi, 20(38), 215-234.
  • Sanar, F. (2014). Finansal İstikrar Kavramı ve Türkiye için Finansal İstikrar Endeksi Önerisi. Gazi Üniversitesi, Sosyal Bilimler Enstitüsü. Yüksek Lisans Tezi. Ankara.
  • Sanar, F. ve Kara, M. (2016). Finansal İstikrar Kavramı Ve Türkiye İçin Finansal İstikrar Endeksi Önerisi. Ekonomik Yaklasim, 27(101).
  • Schinasi, G. J., (2004). Defining Financial Stability, IMF, Working Paper, No:187,Washington.
  • Tiryaki, G. Ve Yılmaz, A. (2012). Bankacılık Düzenlemeleri ile Finansal İstikrar İlişkisi: 1990-2010 Türkiye Deneyimi. Marmara Üniversitesi İktisadi ve İdari Bilimler Dergisi, 32(1), 69-94.
  • Van den End, J. W. (2006). Indicator and Boundaries of Financial Stability. De Nederlandsche Bank, Working Paper No. 97.
  • Weber, A. A. (2008). Financial Market Stability. London School of Economics, London, 1-17.

FINANCIAL STABILITY INDEX PROPOSAL FOR SELECTED OECD COUNTRIES

Year 2023, Volume: 11 Issue: 2, 127 - 140, 21.12.2023

Abstract

Financial stability refers to a situation that ensures the sound functioning of the financial system in an economy and the minimisation of risks. Financial stability plays a critical role in achieving macroeconomic objectives such as economic growth, employment, price stability and sustainable development. The financial stability index is a tool used to measure and assess the level of stability of the financial system. This index presents an overall picture by combining financial indicators and data. The creation of a financial stability index is done in order to identify financial risks, vulnerabilities and potential problems and to guide the decision-making processes of policy makers to ensure financial stability. This study aims to construct a financial stability index for the period 2008-2021 in OECD countries.

References

  • Aksu, S. (2017). Finansal İstikrar Göstergeleri ve Türkiye Ekonomisi İçin Finansal İstikrar Endeksi Önerisi, Balıkesir Üniversitesi Sosyal Bilimler Enstitüsü, Yüksek Lisans Tezi.
  • Aktaş, C. (2011). Finansal İstikrar Analizi Bağlamında Türkiye İçin Finansal İstikrar Endeksi Önerisi. Ankara Üniversitesi, Sosyal Bilimler Enstitüsü. Doktora Tezi. Ankara.
  • Albulescu, C. T., and Goyeau, D. (2010). Assessing and Forecasting Romanian Financial System’s Stability Using An Aggregate İndex. Romanian Journal of Economic Literature, 1.
  • Albulescu, C. T. (2008). Assessing Romanian Financial Sector Stability: The Importance of The International Economic Climate.
  • Al-Rjoub, S. A. (2021). A Financial Stability Index For Jordan. Journal Of Central Banking Theory And Practice, 10(2), 157-178.
  • Apatochiea, A., (2013). Central Banks and Financial Stability, SEA - Practical Application of Science, Vol. I, No. 1, s.245.
  • Cheang, N., and Choy, I. (2011). Aggregate Financial Stability Index For An Early Warning System. Macao Monetary Research Bulletin, 21(1), 27-51.
  • Çakmak, U. (2013). Finansal Kırılganlık Endeksi (Türkiye 1989-2011) ve Yorumlar. Uludağ Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 32(1), 239-260.
  • Çoban, S. and Topcu, M. (2013). The Nexus Between Financial Development And Energy Consumption In The Eu: A Dynamic Panel Data Analysis. Energy Economics, 39, 81-88.
  • Dienillah, A. A., Anggraeni, L., and Sahara, S. (2018). Impact Of Financial Inclusion on Financial Stability Based On Income Group Countries. Buletin Ekonomi Moneter dan Perbankan, 20(4), 429-442.
  • Guettafi, S., and Laib, Y. (2016). Resilience and Stability of Algeria’s Financial System towards-Resilience versus Stability-Approach. Journal of Economics and Development Studies, 4(1), 78-90.
  • IMF (2006) Indicators, Financial Soundness. “Compilation Guide.” Wash.
  • Jordan, A., and Smith, L. (2014). Measuring The Level of Financial Stability in The Bahamas. In 46th Annual Monetary Studies Conference: Macro-Prudential Supervision, Financial Stability And Monetary Policy, Central Bank of Trinidad and Tobago.
  • Kaminsky, G. L., and Reinhart, C. M. (1999). The Twin Crises: The Causes of Banking And Balance-Of-Payments Problems. American Economic Review, 89(3), 473-500.
  • Karanovic, G., and Karanovic, B. (2015). Developing An Aggregate Index For Measuring Financial Stability in The Balkans. Procedia Economics And Finance, 33, 3-17.
  • Kondratovs, K. (2014). Modelling Financial Stability Index For Latvian Financial System. Regional Formation and Development Studies, 8(3), 118-129.
  • Manolescu, C. M. and Manolescu, E. (2017). The Financial Stability Index-An İnsight İnto The Financial And Economic Conditions Of Romania. Theoretical & Applied Economics, 24(4).
  • Mishkin, F. S. (1999). Global Financial Instability: Framework, Events, Issues. Journal Of Economic Perspectives, 13(4), 3-20.
  • Morales, M. A., and Estrada, D. (2010). A Financial Stability Index For Colombia. Annals of Finance, 6(4), 555-581.
  • Morris, V. C. (2010). Measuring and Forecasting Financial Stability: The Composition of an Aggregate Financial Stability Index for Jamaica. Bank of Jamaica, 6(2), 34-51.
  • Nasreen, S., and Anwar, S. (2018). How Financial Stability Affects Economic Development In South Asia: A Panel Data Analysis. European Online Journal of Natural and Social Sciences, 7(1), pp-54.
  • Nayn, M. Z. and Siddiqui, M. S. (2014). Measuring Financial Stability: The Composition of an Aggregate Financial Stability Index for Bangladesh. Bank Parikrama, 39(2), 109-134.
  • OECD. (2008). Handbook on Constructing Composite Indicators: Methodology and User Guide.
  • Papademos, L. (2006, July). Price Stability, Financial Stability And Efficiency, And Monetary Policy. In Speech at the Third Conference of the Monetary Stability Foundation on Challenges to the Financial System-Ageing and Low Growth, Frankfurt am Main.
  • Rosengren, E. S. (2011, June). Defining Financial Stability, And Some Policy İmplications Of Applying The Definition. In Keynote Remarks At The Stanford Finance Forum (Vol. 28). Graduate School of Business, Stanford University.
  • Sakarya, Ş. ve Akkuş, H. T. (2017). Türk Bankacılık Sektöründeki Katılım Bankalarının Finansal İstikrarının Stres Testi Yöntemi ile Analizi. Balıkesir Üniversitesi, Sosyal Bilimler Enstitüsü Dergisi, 20(38), 215-234.
  • Sanar, F. (2014). Finansal İstikrar Kavramı ve Türkiye için Finansal İstikrar Endeksi Önerisi. Gazi Üniversitesi, Sosyal Bilimler Enstitüsü. Yüksek Lisans Tezi. Ankara.
  • Sanar, F. ve Kara, M. (2016). Finansal İstikrar Kavramı Ve Türkiye İçin Finansal İstikrar Endeksi Önerisi. Ekonomik Yaklasim, 27(101).
  • Schinasi, G. J., (2004). Defining Financial Stability, IMF, Working Paper, No:187,Washington.
  • Tiryaki, G. Ve Yılmaz, A. (2012). Bankacılık Düzenlemeleri ile Finansal İstikrar İlişkisi: 1990-2010 Türkiye Deneyimi. Marmara Üniversitesi İktisadi ve İdari Bilimler Dergisi, 32(1), 69-94.
  • Van den End, J. W. (2006). Indicator and Boundaries of Financial Stability. De Nederlandsche Bank, Working Paper No. 97.
  • Weber, A. A. (2008). Financial Market Stability. London School of Economics, London, 1-17.
There are 32 citations in total.

Details

Primary Language Turkish
Subjects Economics, Macroeconomic Theory
Journal Section Articles
Authors

Emre Yiğit 0000-0001-9721-2605

Türker Şimşek 0000-0001-7581-7590

Publication Date December 21, 2023
Acceptance Date December 7, 2023
Published in Issue Year 2023 Volume: 11 Issue: 2

Cite

APA Yiğit, E., & Şimşek, T. (2023). SEÇİLMİŞ OECD ÜLKELERİ İÇİN FİNANSAL İSTİKRAR ENDEKSİ ÖNERİSİ. Journal of International Management Educational and Economics Perspectives, 11(2), 127-140.
AMA Yiğit E, Şimşek T. SEÇİLMİŞ OECD ÜLKELERİ İÇİN FİNANSAL İSTİKRAR ENDEKSİ ÖNERİSİ. Journal of International Management Educational and Economics Perspectives. December 2023;11(2):127-140.
Chicago Yiğit, Emre, and Türker Şimşek. “SEÇİLMİŞ OECD ÜLKELERİ İÇİN FİNANSAL İSTİKRAR ENDEKSİ ÖNERİSİ”. Journal of International Management Educational and Economics Perspectives 11, no. 2 (December 2023): 127-40.
EndNote Yiğit E, Şimşek T (December 1, 2023) SEÇİLMİŞ OECD ÜLKELERİ İÇİN FİNANSAL İSTİKRAR ENDEKSİ ÖNERİSİ. Journal of International Management Educational and Economics Perspectives 11 2 127–140.
IEEE E. Yiğit and T. Şimşek, “SEÇİLMİŞ OECD ÜLKELERİ İÇİN FİNANSAL İSTİKRAR ENDEKSİ ÖNERİSİ”, Journal of International Management Educational and Economics Perspectives, vol. 11, no. 2, pp. 127–140, 2023.
ISNAD Yiğit, Emre - Şimşek, Türker. “SEÇİLMİŞ OECD ÜLKELERİ İÇİN FİNANSAL İSTİKRAR ENDEKSİ ÖNERİSİ”. Journal of International Management Educational and Economics Perspectives 11/2 (December 2023), 127-140.
JAMA Yiğit E, Şimşek T. SEÇİLMİŞ OECD ÜLKELERİ İÇİN FİNANSAL İSTİKRAR ENDEKSİ ÖNERİSİ. Journal of International Management Educational and Economics Perspectives. 2023;11:127–140.
MLA Yiğit, Emre and Türker Şimşek. “SEÇİLMİŞ OECD ÜLKELERİ İÇİN FİNANSAL İSTİKRAR ENDEKSİ ÖNERİSİ”. Journal of International Management Educational and Economics Perspectives, vol. 11, no. 2, 2023, pp. 127-40.
Vancouver Yiğit E, Şimşek T. SEÇİLMİŞ OECD ÜLKELERİ İÇİN FİNANSAL İSTİKRAR ENDEKSİ ÖNERİSİ. Journal of International Management Educational and Economics Perspectives. 2023;11(2):127-40.