The impact of financial reform: The Turkish experience

Atiyas, İzak

doi:10.1017/cbo9780511571879.008

Cited by 20 publications

(16 citation statements)

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“…With the help of the DEA, a mathematical programming technique, we obtained the weights of outputs, q 1 to q 4 , and the weights of inputs, p 1 to p 3 . In the above form, it is obvious that productivity growth directly originates from the changes in the levels of inputs and outputs.…”

Section: Empirical Results and Analysismentioning

confidence: 99%

“…; Akkurt et al, 1992;Atiyas and Ersel, 1994;Zaim, 1995;Denizer, 1997;Akcaoglu (1998), Kasman, 1998). According to these studies, Turkish banking is now operating in more competitive and open environment than the pre-liberalization period, which should boost the performance of Turkish banks by inducing more efficient and productive operations for banks to survive in more complex and competitive business conditions.…”

Section: Literature Reviewmentioning

confidence: 99%

“…As a matter of fact, none of the banks that entered the banking sector during this period has extended its presence beyond the three major cities in the country, Istanbul, Ankara, and Izmir. Although new banks, especially foreign banks, enjoy a better technological position, their entry was important in being innovative in the Turkish context, and improving the quality of human capital (Akkurt et al, 1992;Atiyas and Ersel, 1994).…”

Section: An Overview Of the Financial Liberalization In Turkish Bankimentioning

confidence: 99%

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Assessing The Relationship Between Liberalization, Ownership And Performance: The Case Of Turkish Banks

Isik

Gunduz

Kılıç

et al. 2011

IBER

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Section: Empirical Results and Analysismentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Section: An Overview Of the Financial Liberalization In Turkish Bankimentioning

confidence: 99%

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Assessing The Relationship Between Liberalization, Ownership And Performance: The Case Of Turkish Banks

Isik

Gunduz

Kılıç

et al. 2011

IBER

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“…Turkey began to deregulate her financial markets in 1980 (see Celasun andRodrik, 1989 andErsel, 1995). In the period of the pre-deregulation, Turkish financial markets were considered as financially repressed, with different public involvements in the financial markets in the forms of fixing interest rate and exchange rates, heavy tax burden on financial earnings, high liquidity and reserve requirement ratios, preferential credit allocation, limiting the entry to the Turkish financial market etc.…”

Section: Economic Backround and Financial Reforms In Turkeymentioning

confidence: 99%

Financial Reforms and the Decomposition of Economic Growth: An Investigation of the Changing Role of the Financial Sector in Turkey

Günçavdı¹,

Küçükçifçi²

2005

Review of Middle East Economics and Finance

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Turkey undertook a far-reaching structural adjustment programme in 1980. As an integral element of this programme, financial liberalisation aimed at increasing domestic savings and directing them efficiently towards financing investment projects, which will be likely to have positive impacts on economic growth. After 20 years the performance of these reforms in financial markets is still a matter of concern among academics. The aim of this paper is to examine the role of the financial sector in the whole economy and to assess the sources of gross output of the sector. By doing that we are able to connect financial reforms with different source of growth, and analyse the impacts of reforms on the production of financial services in the pre-and pro-liberalisation periods. To accomplish this aim, we introduce a new methodology, which is based upon the Leontief's input-output models. The results imply that the production sector of the Turkish economy has increasingly become independent from the use of financial service produced by the banking and insurance sector particularly in the post-reform period. JEL Classification: D57, F14, O16, R15

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“…The impact of Turkish financial liberalisation on investment, and econometric performance more generally, has also been much discussed (Rittenberg, 1991;Atiyas and Ersel, 1995;andGuncavdi et al, 1998 and1999). No previous study, however, has used an Euler Equation approach to estimate the impact of financial liberalisation on borrowing constraints.…”

Section: Introductionmentioning

confidence: 99%

Financial determinants of private investment in Turkey. An Euler Equation Approach to Time Series

Günçavdı

Bleaney

McKay

2006

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Resumen: Este trabajo emplea un modelo dinámico de inversión derivado de maximizar el valor presente del flujo de efectivo intertemporal de una empresa representativa sujeta a imperfecciones de mercado, restricciones de préstamos de capital, y ajustes de costos de capital. El modelo es usado para probar el rol de las imperfecciones del mercado de capital antes y después de la liberalización financiera llevada a cabo en Turquía. Los resultados demuestran el importante rol de restricciones crediticias en la determinación del gasto en inversión privada y muestran que las reformas financieras de principios de la década de 1980 no han relajado estas restricciones de manera significativa.

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The impact of financial reform: The Turkish experience

Cited by 20 publications

References 0 publications

Assessing The Relationship Between Liberalization, Ownership And Performance: The Case Of Turkish Banks

Assessing The Relationship Between Liberalization, Ownership And Performance: The Case Of Turkish Banks

Financial Reforms and the Decomposition of Economic Growth: An Investigation of the Changing Role of the Financial Sector in Turkey

Financial determinants of private investment in Turkey. An Euler Equation Approach to Time Series

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