Araştırma Makalesi
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The Impact of Digital Finance on the Stability of the Banking Sector: The Case of European and Central Asian Countries (ECA)

Yıl 2024, Cilt: 10 Sayı: 2, 365 - 382, 15.10.2024
https://doi.org/10.20979/ueyd.1513762

Öz

The aim of this study is to investigate the impact of digital finance on the stability of the banking sector. The study analysed year data between 2006 and 2020 from 44 countries within the ECA using the panel data analysis method. The dependent variable in the research model is the banks' Z-score. The number of ATMs per 100,000 inhabitants, the ratio of internet users to the total population and the number of cell phone connections per 100 inhabitants were used as indicators for digital finance. In the first stage of the analysis, the unit and time effects of the panel data were examined and then the appropriate model among the models with fixed effects and random effects was determined using the robust Hausman test. In the second stage, the basic assumptions for the preferred model were tested. In the final stage, the robust estimation method Driscoll-Kraay analysis was performed based on deviations in the assumptions. According to the results of the analysis, the number of ATMs and cell phone subscriptions per 100 people had a negative impact on the stability of the banking sector, while the proportion of people using the Internet in the total population had a positive impact. The results show that digital financing has an impact on bank risk and financial stability.

Kaynakça

  • Ahamed, M. M. ve Mallick, S. K. (2019). Is Financial Inclusion Good for Bank Stability? International Evidence. Journal of Economic Behavior & Organization, 157, 403-427.
  • Al-Smadi, M. O. (2023). Examining The Relationship Between Digital Finance and Financial Inclusion: Evidence from MENA Countries. Borsa Istanbul Review, 23(2), 464-472.
  • Antwi, F. ve Kong, Y. (2023). Investigating The Impacts of Digital Finance Technology on Financial Stability of The Banking Sector: New Insights from Developing Market Economies. Cogent Business & Management, 10(3), 2284738.
  • Banna, H. ve Alam, M. R. (2021). Is Digital Financial Inclusion Good for Bank Stability and Sustainable Economic Development? Evidence from Emerging Asia (No. 1242). ADBI Working Paper Series.
  • Chinoda, T. ve Kapingura, F. M. (2023). The Impact of Digital Financial Inclusion and Bank Competition on Bank Stability in Sub-Saharan Africa. Economies, 11(1), 15.
  • Çınar, M. (2021). Panel Veri Ekonometrisi Stata ve EVİews Uygulamalı, Bursa: Ekin Yayınevi.
  • Danisman, G. O. ve Tarazi, A. (2020). Financial Inclusion and Bank Stability: Evidence from Europe. The European Journal of Finance, 26(18), 1842-1855.
  • Del Gaudio, B. L., Porzio, C., Sampagnaro, G. ve Verdoliva, V. (2021). How Do Mobile, Internet and ICT Diffusion Affect The Banking Industry? An Empirical Analysis. European Management Journal, 39(3), 327-332.
  • Frimpong, S., Yusuf, M. A., Boateng, E., Ankomah, K. ve Abeka, M. J. (2023). Financial Inclusion, Economic Freedom and Financial Stability in Sub‐Saharan Africa. Thunderbird International Business Review, 65(4), 429-441.
  • Gujarati, D. N. ve Porter, D. C. (2014). Temel Ekonometri, İstanbul: Literatür Yayıncılık.
  • Güriş, S. ve Çağlayan, E. (2013). Ekonometri Temel Kavramlar, İstanbul: DER Yayınları.
  • Hausman, J. A. (1978). Specification Test in Econometrics. Econometrica, 46(6), 1251-1271.
  • Ji, Y., Shi, L. ve Zhang, S. (2022). Digital Finance and Corporate Bankruptcy Risk: Evidence from China. Pacific-Basin Finance Journal, 72, 101731.
  • Kasri, R. A., Indrastomo, B. S., Hendranastiti, N. D. ve Prasetyo, M. B. (2022). Digital Payment and Banking Stability in Emerging Economy with Dual Banking System. Heliyon, 8(11), e11198.
  • Khan, I., Khan, I., Sayal, A. U. ve Khan, M. Z. (2022). Does Financial Inclusion Induce Poverty, Income Inequality, and Financial Stability: Empirical Evidence from The 54 African Countries?. Journal of Economic Studies, 49(2), 303-314.
  • Luo, D., Luo, M. ve Lv, J. (2022). Can Digital Finance Contribute to The Promotion of Financial Sustainability? A Financial Efficiency Perspective. Sustainability, 14(7), 3979.
  • Mert, M. ve Çağlar, A. E. (2023). Eviews ve Gauss Uygulamalı Zaman Serileri Analizi, Ankara: Detay Yayıncılık.
  • Murinde, V., Rizopoulos, E. ve Zachariadis, M. (2022). The Impact of The Fintech Revolution on The Future of Banking: Opportunities and Risks. International Review of Financial Analysis, 81, 102103.
  • Oanh, T. T. K., Van, L. T. T. ve Dinh, L. Q. (2023). Relationship Between Financial Inclusion, Monetary Policy and Financial Stability: An Analysis in High Financial Development and Low Financial Development Countries. Heliyon. 9, e16647.
  • Ozili, P. K. (2018). Impact of Digital Finance on Financial Inclusion and Stability. Borsa Istanbul Review, 18(4), 329-340.
  • Ozili, P. K. (2023). Digital Finance Research and Developments Around the World: A Literature Review. International Journal of Business Forecasting and Marketing Intelligence, https://mpra.ub.uni-muenchen.de/id/eprint/115780.
  • Phan, D. H. B., Narayan, P. K., Rahman, R. E. ve Hutabarat, A. R. (2020). Do Financial Technology Firms Influence Bank Performance?. Pacific-Basin finance journal, 62, 101210.
  • Puri, V., Kaur, G., Kalra, J. K. ve Gill, K. (2023). Bank Stability and Digitalisation: Empirical Evidence from Selected Indian Banks. Journal of Economic and Administrative Sciences. Ahead-of-print.
  • Revathi, P. (2019). Digital Banking Challenges and Opportunities in India. EPRA International Journal of Economic and Business Review, 7(12), 20-23.
  • Risman, A., Mulyana, B., Silvatika, B. ve Sulaeman, A. (2021). The Effect of Digital Finance on Financial Stability. Management Science Letters, 11(7), 1979-1984.
  • Siddik, M. N. A. ve Kabiraj, S. (2020). Digital Finance for Financial Inclusion and Inclusive Growth. Digital Transformation in Business and Society: Theory and Cases, 155-168.
  • Syed, A. A., Ahmed, F., Kamal, M. A. ve Trinidad Segovia, J. E. (2021). Assessing the Role of Digital Finance on Shadow Economy and Financial Instability: An Empirical Analysis of Selected South Asian Countries. Mathematics, 9(23), 3018.
  • Syed, A. A., Kamal, M. A., Ullah, A. ve Grima, S. (2022). An Asymmetric Analysis of The Influence That Economic Policy Uncertainty, Institutional Quality, and Corruption Level Have on India’s Digital Banking Services and Banking Stability. Sustainability, 14(6), 3238.
  • Ün, T. (2018). Panel Veri Modellerinin Varsayımlarının Test Edilmesi (Ed.) Selahattin Güriş, Uygulamalı Panel Veri Ekonometrisi, İstanbul: DER Yayınları.
  • Wang, Q., Yang, J., Chiu, Y. H. ve Lin, T. Y. (2020). The Impact of Digital Finance on Financial Efficiency. Managerial and Decision Economics, 41(7), 1225-1236.
  • Wang, R. ve Luo, H. R. (2022). How Does Financial Inclusion Affect Bank Stability in Emerging Economies?. Emerging Markets Review, 51, 100876.
  • World Bank (2023a). Financial Stability. https://www.worldbank.org/en/publication/gfdr/gfdr-2016/background/financial-stability. (Erişim: 22.12.2023).
  • World Bank (2023b). Global Financial Development. https://databank.worldbank.org/source/global-financial-development. (Erişim: 30.11.2023).
  • World Bank (2023c). World Development Indicators. https://databank.worldbank.org/source/world-development-indicators. (Erişim: 30.11.2023).
  • Wu, Y. ve Huang, S. (2022). The Effects of Digital Finance and Financial Constraint on Financial Performance: Firm-Level Evidence from China's New Energy Enterprises. Energy Economics, 112, 106158.
  • Yerdelen-Tatoğlu, F. (2020). Panel Veri Ekonometrisi Stata Uygulamalı, İstanbul: Beta.

Dijital Finansın Bankacılık Sektörü İstikrarına Etkisi: Avrupa ve Orta Asya Ülkeleri (ECA) Örneği

Yıl 2024, Cilt: 10 Sayı: 2, 365 - 382, 15.10.2024
https://doi.org/10.20979/ueyd.1513762

Öz

Bu çalışmanın amacı, bankacılık sektörü istikrarı üzerinde dijital finansın etkisini incelemektir. Çalışmada ECA kapsamındaki 44 ülkeye ait 2006-2020 arasındaki yıllık veriler panel veri analizi yöntemi ile test edilmiştir. Araştırma modelindeki bağımlı değişken bankalara ilişkin Z skorudur. Dijital finans göstergesi olarak 100.000 kişi başına ATM sayısı, internet kullanan bireylerin toplam nüfusa oranı ve 100 kişi başına mobil telefon aboneliği kullanılmıştır. Analizin ilk aşamasında panel verilerin birim ve zaman etkisi incelenmiş ve ardından dirençli Hausman testi ile sabit etkiler ve tesadüfi etkiler modelleri arasından uygun model belirlenmiştir. İkinci aşamada tercih edilen modele ilişkin temel varsayımlar sınanmıştır. Son aşamada, varsayımlara ilişkin sapmalar nedeniyle dirençli tahminci yöntemi Driscoll-Kraay analizi yapılmıştır. Analiz sonuçlarına göre bankacılık sektörü istikrarı üzerinde ATM sayısı ile 100 kişi başına mobil telefon aboneliği değişkenlerinin negatif yönde etkisi tespit edilirken, internet kullanan bireylerin toplam nüfusa oranının pozitif yönde etkisi saptanmıştır. Sonuçlar, dijital finansın bankacılık riski ve finansal istikrar üzerinde etkili olduğunu göstermiştir.

Kaynakça

  • Ahamed, M. M. ve Mallick, S. K. (2019). Is Financial Inclusion Good for Bank Stability? International Evidence. Journal of Economic Behavior & Organization, 157, 403-427.
  • Al-Smadi, M. O. (2023). Examining The Relationship Between Digital Finance and Financial Inclusion: Evidence from MENA Countries. Borsa Istanbul Review, 23(2), 464-472.
  • Antwi, F. ve Kong, Y. (2023). Investigating The Impacts of Digital Finance Technology on Financial Stability of The Banking Sector: New Insights from Developing Market Economies. Cogent Business & Management, 10(3), 2284738.
  • Banna, H. ve Alam, M. R. (2021). Is Digital Financial Inclusion Good for Bank Stability and Sustainable Economic Development? Evidence from Emerging Asia (No. 1242). ADBI Working Paper Series.
  • Chinoda, T. ve Kapingura, F. M. (2023). The Impact of Digital Financial Inclusion and Bank Competition on Bank Stability in Sub-Saharan Africa. Economies, 11(1), 15.
  • Çınar, M. (2021). Panel Veri Ekonometrisi Stata ve EVİews Uygulamalı, Bursa: Ekin Yayınevi.
  • Danisman, G. O. ve Tarazi, A. (2020). Financial Inclusion and Bank Stability: Evidence from Europe. The European Journal of Finance, 26(18), 1842-1855.
  • Del Gaudio, B. L., Porzio, C., Sampagnaro, G. ve Verdoliva, V. (2021). How Do Mobile, Internet and ICT Diffusion Affect The Banking Industry? An Empirical Analysis. European Management Journal, 39(3), 327-332.
  • Frimpong, S., Yusuf, M. A., Boateng, E., Ankomah, K. ve Abeka, M. J. (2023). Financial Inclusion, Economic Freedom and Financial Stability in Sub‐Saharan Africa. Thunderbird International Business Review, 65(4), 429-441.
  • Gujarati, D. N. ve Porter, D. C. (2014). Temel Ekonometri, İstanbul: Literatür Yayıncılık.
  • Güriş, S. ve Çağlayan, E. (2013). Ekonometri Temel Kavramlar, İstanbul: DER Yayınları.
  • Hausman, J. A. (1978). Specification Test in Econometrics. Econometrica, 46(6), 1251-1271.
  • Ji, Y., Shi, L. ve Zhang, S. (2022). Digital Finance and Corporate Bankruptcy Risk: Evidence from China. Pacific-Basin Finance Journal, 72, 101731.
  • Kasri, R. A., Indrastomo, B. S., Hendranastiti, N. D. ve Prasetyo, M. B. (2022). Digital Payment and Banking Stability in Emerging Economy with Dual Banking System. Heliyon, 8(11), e11198.
  • Khan, I., Khan, I., Sayal, A. U. ve Khan, M. Z. (2022). Does Financial Inclusion Induce Poverty, Income Inequality, and Financial Stability: Empirical Evidence from The 54 African Countries?. Journal of Economic Studies, 49(2), 303-314.
  • Luo, D., Luo, M. ve Lv, J. (2022). Can Digital Finance Contribute to The Promotion of Financial Sustainability? A Financial Efficiency Perspective. Sustainability, 14(7), 3979.
  • Mert, M. ve Çağlar, A. E. (2023). Eviews ve Gauss Uygulamalı Zaman Serileri Analizi, Ankara: Detay Yayıncılık.
  • Murinde, V., Rizopoulos, E. ve Zachariadis, M. (2022). The Impact of The Fintech Revolution on The Future of Banking: Opportunities and Risks. International Review of Financial Analysis, 81, 102103.
  • Oanh, T. T. K., Van, L. T. T. ve Dinh, L. Q. (2023). Relationship Between Financial Inclusion, Monetary Policy and Financial Stability: An Analysis in High Financial Development and Low Financial Development Countries. Heliyon. 9, e16647.
  • Ozili, P. K. (2018). Impact of Digital Finance on Financial Inclusion and Stability. Borsa Istanbul Review, 18(4), 329-340.
  • Ozili, P. K. (2023). Digital Finance Research and Developments Around the World: A Literature Review. International Journal of Business Forecasting and Marketing Intelligence, https://mpra.ub.uni-muenchen.de/id/eprint/115780.
  • Phan, D. H. B., Narayan, P. K., Rahman, R. E. ve Hutabarat, A. R. (2020). Do Financial Technology Firms Influence Bank Performance?. Pacific-Basin finance journal, 62, 101210.
  • Puri, V., Kaur, G., Kalra, J. K. ve Gill, K. (2023). Bank Stability and Digitalisation: Empirical Evidence from Selected Indian Banks. Journal of Economic and Administrative Sciences. Ahead-of-print.
  • Revathi, P. (2019). Digital Banking Challenges and Opportunities in India. EPRA International Journal of Economic and Business Review, 7(12), 20-23.
  • Risman, A., Mulyana, B., Silvatika, B. ve Sulaeman, A. (2021). The Effect of Digital Finance on Financial Stability. Management Science Letters, 11(7), 1979-1984.
  • Siddik, M. N. A. ve Kabiraj, S. (2020). Digital Finance for Financial Inclusion and Inclusive Growth. Digital Transformation in Business and Society: Theory and Cases, 155-168.
  • Syed, A. A., Ahmed, F., Kamal, M. A. ve Trinidad Segovia, J. E. (2021). Assessing the Role of Digital Finance on Shadow Economy and Financial Instability: An Empirical Analysis of Selected South Asian Countries. Mathematics, 9(23), 3018.
  • Syed, A. A., Kamal, M. A., Ullah, A. ve Grima, S. (2022). An Asymmetric Analysis of The Influence That Economic Policy Uncertainty, Institutional Quality, and Corruption Level Have on India’s Digital Banking Services and Banking Stability. Sustainability, 14(6), 3238.
  • Ün, T. (2018). Panel Veri Modellerinin Varsayımlarının Test Edilmesi (Ed.) Selahattin Güriş, Uygulamalı Panel Veri Ekonometrisi, İstanbul: DER Yayınları.
  • Wang, Q., Yang, J., Chiu, Y. H. ve Lin, T. Y. (2020). The Impact of Digital Finance on Financial Efficiency. Managerial and Decision Economics, 41(7), 1225-1236.
  • Wang, R. ve Luo, H. R. (2022). How Does Financial Inclusion Affect Bank Stability in Emerging Economies?. Emerging Markets Review, 51, 100876.
  • World Bank (2023a). Financial Stability. https://www.worldbank.org/en/publication/gfdr/gfdr-2016/background/financial-stability. (Erişim: 22.12.2023).
  • World Bank (2023b). Global Financial Development. https://databank.worldbank.org/source/global-financial-development. (Erişim: 30.11.2023).
  • World Bank (2023c). World Development Indicators. https://databank.worldbank.org/source/world-development-indicators. (Erişim: 30.11.2023).
  • Wu, Y. ve Huang, S. (2022). The Effects of Digital Finance and Financial Constraint on Financial Performance: Firm-Level Evidence from China's New Energy Enterprises. Energy Economics, 112, 106158.
  • Yerdelen-Tatoğlu, F. (2020). Panel Veri Ekonometrisi Stata Uygulamalı, İstanbul: Beta.
Toplam 36 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Konular Panel Veri Analizi , Finans
Bölüm Araştırma Makaleleri
Yazarlar

Yusuf Güneysu 0000-0002-6809-1995

Tolga Ergün 0000-0001-9650-4542

Erken Görünüm Tarihi 3 Ekim 2024
Yayımlanma Tarihi 15 Ekim 2024
Gönderilme Tarihi 10 Temmuz 2024
Kabul Tarihi 3 Eylül 2024
Yayımlandığı Sayı Yıl 2024 Cilt: 10 Sayı: 2

Kaynak Göster

APA Güneysu, Y., & Ergün, T. (2024). Dijital Finansın Bankacılık Sektörü İstikrarına Etkisi: Avrupa ve Orta Asya Ülkeleri (ECA) Örneği. Uluslararası Ekonomi Ve Yenilik Dergisi, 10(2), 365-382. https://doi.org/10.20979/ueyd.1513762

Uluslararası Ekonomi ve Yenilik Dergisi

Karadeniz Teknik Üniversitesi, İİBF, İktisat Bölümü, 61080, Trabzon/Türkiye

https://dergipark.org.tr/ueyd

28816

 This work is licensed under a Creative Commons Attribution 4.0 International License.