Determinants of Asymmetry in Lending Behavior of Public-Owned and Privately-Owned Banks in Turkish Banking Sector

Yıl 2020, Cilt: 4 Sayı: 1, 33 - 54, 13.03.2020

Çiğdem Kurt Cihangir

https://doi.org/10.31200/makuubd.679750

Öz

In
this study the causes of asymmetry in lending behaviors of public-owned
banks(PuBs) and privately-owned (PrBs) banks are investigated with ARDL Boundary
Test. It is find that there is a short and long term relationships between the
credit volumes of the PuBs and PrBs and the non-performing loans and the
identified macroeconomic indicators. In the long term, the only variable that
has an impact on the credit volume of PuBs is non-performing loans; although,
the variables that are effective in the credit volume of the PrBs are
non-performing loans, exchange rate and the economic confidence index.
Accordingly, it can be said that PuBs play an active counter-cyclical role. 

Anahtar Kelimeler

Public-Owned Banks, Privately-Owned Banks, Lending Behavior

Türk Bankacılık Sektöründe Kamu Sermayeli ve Özel Sermayeli Bankaların Kredi Verme Davranışlarındaki Asimetrinin Belirleyicileri

Öz

Bu
çalışmada kamu sermayeli (KSB) ve özel sermayeli (ÖSB) bankaların kredi verme
davranışlarındaki asimetrinin nedenleri ARDL Sınır Testi ile araştırılmıştır.
KSB ve ÖSB’lerin kredi hacimleri ile takipteki krediler ve belirlenen
makroekonomik göstergeler arasında kısa ve uzun dönemde ilişki olduğu tespit
edilmiştir. Uzun dönemde KSB’lerin kredi hacminde etkili olan tek değişken
takipteki kredilerken; ÖSB’lerin kredi hacminde takipteki kredilerle birlikte
döviz kuru ve ekonomik güven endeksinin de etkili olduğu belirlenmiştir. Buna
göre KSB’lerin aktif karşı-konjontrürel (döngüsel) rol üstlendikleri
söylenebilir. 

Anahtar Kelimeler

Kamu Sernayeli Bankalar, Özel Sermayeli Bankalar, Kredi Verme Davranışı

Kaynakça

• Alihodžić, A. & Ekşi, İ. H. (2018). Credit growth and non-performing loans: Evidence from Turkey and some Balkan countries. Eastern Journal of European Studies, 2, 229-249.
• Ay Yalçınkaya, A. E. & Kök, R. (2016). Türk bankacılık sektöründe maliyet etkinliği (2005-2013). Ege Akademik Bakış, 16(2), 273-286.
• Bakır Yiğitbaş, Ş. (2012). Bankaların kredi verme davranışı üzerine asimetrik bilginin etkisi ve reel sektör yansıması (Türkiye Analizi 2002-2010). Kocaeli Üniversitesi, Yayımlanmış Doktora Tezi.
• Baum C., Caglayan M. & Ozkan N. (2005). The second moments matter: The response of bank lending behavior to macroeconomic uncertainty. Working Paper, Boston College.
• Behr, P., Norden, L. & Noth, F. (2013). Financial constraints of private firms and bank lending behavior. Journal of Banking and Finance, 37(9), 3472–3485. https://doi.org/10.1016/j.jbankfin.2013.05.018
• Bertay, A. C., Demirgüç-Kunt, A. & Huizinga, H. (2015). Bank ownership and credit over the business cycle: Is lending by state banks less procyclical?. Journal of Banking and Finance, 50, 326-339 https://doi.org/10.1016/j.jbankfin.2014.03.012
• Brei, M., & Schclarek, A. (2013). Public bank lending in times of crisis. Journal of Financial Stability 9(4), 820–30. https://doi.org/10.1016/j.jfs.2013.01.002
• Burgess, R. & Pande, R. (2005). Do rural banks matter? Evidence from the Indian social banking experiment. American Economic Review, 95(3), 780-795. https://doi.org/10.1257/0002828054201242
• Coleman, N. & Feler, L. (2015). Bank ownership, lending, and local economic performance during the 2008-2009 financial crisis. Journal of Monetary Economics, 71, 50-66. https://doi.org/10.1016/j.jmoneco.2014.11.001
• Cucinelli, D., (2015). The impact of non-performing loans on bank lending behaviour: Evidence from the Italian banking sector. Eurasian Journal of Business and Economics, 8 (16), 59-71. https://dx.doi.org/10.17015/ejbe.2015.016.04
• Cull, R. & Peria, M.S.M. (2013). Bank ownership and lending patterns during the 2008-2009 financial crisis: Evidence from Latin America and Eastern Europe. Journal of Banking Finance, 37(12), 4861-4878. https://dx.doi.org/10.1016/j.jbankfin.2013.08.017
• Dell'Ariccia, G., Detragiache, E. & Rajan, R. (2008). The real effect of banking crises. Journal of Financial Intermediation, 17(1), 89-112. https://doi.org/10.1016/j.jfi.2007.06.001
• Demirgüç-Kunt, A., Detragiache, E. & Gupta, P. (2006). Inside the crisis: An empirical analysis of banking systems in distress. Journal of International Money and Finance, 25(5), 702-718. https://doi.org/10.1016/j.jimonfin.2006.04.004
• Demirgüç-Kunt, A., & Detragiache, E. (1998). Financial liberalization and financial fragility. Working Paper, No. 98/83, Washington: Uluslararası Para Fonu (IMF).
• Dinc, I. S. (2005). Politicians and banks: political influences on government‐owned banks in emerging markets. Journal of Financial Economics, 77(2), 453– 479. https://doi.org/10.1016/j.jfineco.2004.06.011
• Iannotta, G., Nocera, G. & Sironi, A. (2007). Ownership structure, risk and performance in the European banking industry. Journal of Banking and Finance, 31(7), 2127-2149. https://doi.org/10.1016/j.jbankfin.2006.07.013
• Jorda, O., Schularick, M. & Taylor, A., (2013). When credit bites back. Journal of Money, Credit and Banking, 45(2), 3-28. https://doi.org/10.1111/jmcb.12069
• Kaya, Z., Şahin, L., Hacıevliyagil, N. & Ekşi, İ. (2016). Bankaların kredi verme davranışında varlık kalitesinin etkisi. Finansal Araştırmalar ve Çalışmalar Dergisi, 8(14), 147 – 160. https://doi.org/10.14784/jfrs.52635
• Körner, T. & Schnabel, I. (2011). Public ownership of banks and economic growth – the role of heterogeneity. Economics of Transition and Institutional Change, 19(3), 407-441 https://doi.org/10.1111/j.1468-0351.2011.00421.x
• La Porta, R., Lopez-de-Silanes, F. & Shleifer, A. (2002). Government ownership of banks. Journal of Finance, 57, 265-301 https://doi.org/10.1111/1540-6261.00422
• Maddala, G.S. (2001). Introduction to econometrics. 3. Baskı, Wiley, New York.
• Mercan, M. (2013). Kredi hacmindeki değişimlerin ekonomik büyümeye etkisi: Türkiye ekonomisi için sınır testi yaklaşımı. Bankacılar Dergisi, Sayı 84, 54-71.
• Micco, A. & Panizza, U. (2006). Bank ownership and lending behavior. Economics Letters, 93(2), 248-254 https://doi.org/10.1016/j.econlet.2006.05.009
• Mishkin, F. S. (2000). Finansal piyasalar ve kurumlar. Çev. Şıklar, İ., Çakmak, A. ve Yavuz, S., İstanbul: Bilim Teknik Yayınevi.
• Narayan, P. K. & Narayan, S. (2005). Estimating income and price elasticities of imports for Fiji in a cointegration framework. Economic Modelling, 22(3), 423-438. https://doi.org/10.1016/j.econmod.2004.06.004
• Olszak, M., Roszkowska, S. ve Kowalska, I. (2018). Macroprudential policy instruments and procyclicality of loan-loss provisions – cross - country evidence. Journal of International Financial Markets, Institutionas and Money, 54, 228-257. https://doi.org/10.1016/j.intfin.2018.01.001
• Öztürkler, H. & Çermikli, A. H. (2007). Türkiye’de bir parasal aktarım kanalı olarak banka kredileri. Finans Politik ve Ekonomik Yorumlar, 44(514): 57-68.
• Quagliariello, M., (2009). Macroeconomic uncertainty and banks’ lending decisions: the case of Italy. Applied Economics, 41(3), 323-336. https://dx.doi.org/10.2139/ssrn.970293
• Parasız, İ. (2000). Para banka ve finansal piyasalar. Ezgi Kitabevi Yayınları, 7. Baskı, Bursa.
• Pesaran, M. H. & Pesaran, B. (2009). Time series econometrics using Microfit 5.0. New York: Oxford University Press.
• Pesaran, M. H., Shin, Y. & Smith, R.J. (2001), Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16, 289-326.
• Pesaran, M.H. & Shin, Y. (1999). An autoregressive distrubited lag modeling approach to cointegration analysis. (Chapter 11) in Econometrics and Economic Theory in the 20th Century: The Ragnar Frisch Centennial Symposium, Strom S (ed.). Cambridge University Press: Cambridge.
• Pesaran, M. H. & Pesaran, B. (1997). Working with Microfit 4.0: interactive econometric analysis. Oxford University Press, Oxford.
• Reinhart, C. & Rogoff, K. (2011). From financial crash to debt crisis. American Economic Review, 101(5), 1676–1706. https://doi.org/10.1257/aer.101.5.1676
• Reinhart, C. & Kaminsky, G. (1999). The twin crises: the cause of banking and balance of payment problems. American Economic Review, 89 (3): 473-500. https://doi.org/10.1257/aer.89.3.473
• Ruckes, M., (2004). Bank competition and credit standards. Review of Financial Studies, 17(4), 1073-1102. https://doi.org/10.1093/rfs/hhh011
• Sapienza, P. (2004). The effects of government ownership on bank lending. Journal of Financial Economics, 72(2), 357-384. https://doi.org/10.1016/j.jfineco.2002.10.002
• Stiglitz, J. (1993). The role of the state in financial markets, in: proceedings of the World Bank Annual Conference on Economic Development, International Bank for Reconstruction and Development/World Bank, (ss. 19-56), Washington, DC.
• Us, V., (2016). Determinants of non-performing loans in the Turkish banking sector: what has changed after the global crisis?. TCMB Araştırma Yayınları Ekonomi Notları, No. 16- 27, 1-14.
• Vithessonthi, C., (2016). Deflation, bank credit growth, and non-performing loans: evidence from Japan. International Review of Financial Analysis, 45, 295- 305. https://doi.org/10.1016/j.irfa.2016.04.003
• Yeyati, E. L., Micco, A. ve Panizza, U. (2007). A Reappraisal of state-owned banks. Economia, 7(2): 209–259.
• BBC News - https://www.bbc.com/turkce/haberler-dunya-50513836 (Erişim Tarihi: 3 Aralık 2019)