Have a personal or library account? Click to login
Are Capital Ratios Procyclical? Evidence from Turkish Banking Data Cover

Are Capital Ratios Procyclical? Evidence from Turkish Banking Data

Open Access
|Sep 2018

References

  1. 1. Acharya, V. V. and Richardson, M. P. 2009. “Causes of the Financial Crisis”. Critical Review 21 (2), 195–210.10.1080/08913810902952903
  2. 2. Aktas, R., Acikalin, S., Bakin, B., Celik, G. 2015. “The Determinants of Banks’ Capital Adequacy Ratio: Some Evidence from South Eastern European Countries”. Journal of Economics and Behavioral Studies 7(1), 79–88.10.22610/jebs.v7i1(J).565
  3. 3. Allen, D. E., Napaporn, N., Robert, J. P. 2013. “The Determinants of Capital Structure: Empirical evidence from Thai Banks”. Information Management and Business Review 5(8), 401–410.10.22610/imbr.v5i8.1068
  4. 4. Arcand, J.L., Berkes, E., Panizza, U. 2012. “Too Much Finance?” IMF Working Paper 12/161, International Monetary Fund Washington.10.5089/9781475504668.001
  5. 5. Aruoba, B. andSarikaya, C. 2013. “A Real Economic Activity Indicator for Turkey”. Central Bank Review 13, 15–29.
  6. 6. Asarkaya, Y. and Özcan, S. 2007. “Determinants of Capital Structure in Financial Institutions: The Case of Turkey”. Journal of BRSA Banking and Financial Markets. 1, 91–109.
  7. 7. Atici, G. and Gursoy, G. 2011. “Financial crises and capital buffer: Evidence from the Turkish banking sector”. Banks and Bank Systems International Research Journal, 6, 72–86.
  8. 8. Atici, G. andGursoy, G. 2013. “The Determinants of Capital Buffer in the Turkish Banking System”. International Business Research Journal 6(1), 224–234.10.5539/ibr.v6n1p224
  9. 9. Barajas, A., Chami,R., Yousefi, S.F. 2013. “The Finance and Growth Nexus Re-examined: Do All Countries Benefit Equally?” IMF Working Paper 13/130, International Monetary Fund, Washington.10.5089/9781484372104.001
  10. 10. Basel Committee on Banking Supervision. 1988. “International convergence of capital measurement and capital standards”, July, www.bis.org/publ/bcbs04a.pdf.
  11. 11. Basel Committee on Banking Supervision. 2014. “Basel III leverage ratio framework and disclosure requirements”, www.bis.org/publ/bcbs270.pdf.
  12. 12. Beck, T. and Levine, R. 2004. “Stock markets, banks, and growth: Panel evidence”. Journal of Banking and Finance 28(3), 423–442.10.1016/S0378-4266(02)00408-9
  13. 13. Binici, M. and Köksal, B. 2012. “Is the Leverage of Turkish Banks Procyclical?” Central Bank Review. 12(2), 11–24.
  14. 14. Brei, M. andGambacorta, L. 2015. “Are bank capital ratios procyclical? New evidence and perspectives”. Economic Policy, 61st Panel Meeting, Bank of Latvia, Riga, 17–18 April 2015.
  15. 15. Bulut, U. (2016), “How Far Ahead Does the Central Bank of the Republic of Turkey Look?”. Journal of Central Banking Theory and Practice, 1, 99-111.10.1515/jcbtp-2016-0005
  16. 16. Buyuksalvarci, A. and Abdioglu, H. 2011. “Determinants of capital adequacy ratio in Turkish Banks: A panel data analysis”. African Journal of Business Management 5(27), 11199–11209.10.5897/AJBM11.1957
  17. 17. Caliskan, A. 2011.“Leverage Behavior of Turkish Banks: How Did They Escape the Global Crisis?”İktisatİşletmeveFinans 26(307), 75–104.10.3848/iif.2011.307.2923
  18. 18. Coffinet, J, Coudert, V. Pop, A., Pouvelle, C. 2011. Two-Way Interplays between Capital Buffers, Credit and Output: Evidence from French Banks. Banque de France.10.2139/ssrn.1761965
  19. 19. Danielsson, J., Embrechts, P., Goodhart, C., Keating, C., Muennich, F., Renault, O., Shin, H.S. 2001. “An academic response to Basel II”, LSE Special Paper.
  20. 20. Deriantino, E. 2011. Procyclicality of banks’ capital buffer and its impact on bank’s lending activity in ASEAN countries. Available at SSRN 1894488.10.2139/ssrn.1894488
  21. 21. Fabris, N. (2018).”Challenges for Modern Monetary Policy” Journal of Central Banking Theory and Practice, 2, 5-24.10.2478/jcbtp-2018-0010
  22. 22. Gambacorta, L. and Mistrulli, P.E. 2004. “Does bank capital affect lending behavior?” Journal of Financial Intermediation 13(4), 436–457.10.1016/j.jfi.2004.06.001
  23. 23. Gordy, M. and Howells, B. 2006. “Procyclicality in Basel II: Can we treat the disease without killing the patient?” Journal of Financial Intermediation 15, 395–417.10.1016/j.jfi.2005.12.002
  24. 24. Gropp, R. and Heider, F. 2010. “The determinants of bank capital structure”. Review of Finance 14, 587–622.10.1093/rof/rfp030
  25. 25. Günay, H. and Kılınç M. 2015. “Credit Market Imperfections and Business Cycle Asymmetries in Turkey”. Journal of Empirical Finance34,79–98.10.1016/j.jempfin.2015.08.008
  26. 26. Insel, A., Soytaş, M.A., Gündüz, S. 2004. “The Direction, Timing and Causality Relationships Between the Cyclical Components of Real and Financial Variables During the Financial Liberalization Period in Turkey”. Turkish Economic Association Discussion Paper 2004/1.
  27. 27. Jokipii, T. andMilne, A.2008. “The cyclical behaviour of European bank capital buffers”. Journal of Banking and Finance 32, 1440–1451.10.1016/j.jbankfin.2007.12.001
  28. 28. Juca, M. N., Sousa, A. F. S., Fishlow, A. 2012. “Capital Structure Determinant’s of Brazilian and North American Banks”. International Journal of Business and Commerce 1(5), 44–63.
  29. 29. Karmakar, S. and Mok, J. 2015. “Bank Capital and Lending: An Analysis of Commercial Banks in the United States”. Economics Letters128, 21–24.10.1016/j.econlet.2015.01.002
  30. 30. Kashyap, A.K. and Stein, C. 2004. “Cyclicalimplicatons of the Basel II capitalstandards”. Economic Perspectives 28 (1st Quarter).
  31. 31. Khan, M., Senhadji, A., Smith, B. 2001. “Inflation and Financial Depth”. Working Paper 01/44, International Monetary Fund, Washington.10.5089/9781451846416.001
  32. 32. King, R. and Levine, R. 1993. “Finance and Growth: Schumpeter Might Be Right”. The Quarterly Journal of Economics 108(3), 717–737.10.2307/2118406
  33. 33. Lemmon, M., Roberts, M., Zender, J. 2008. “Back to the beginning: Persistence and the cross-section of corporate capital structure”. Journal of Finance 63(4), 1575–1608.10.1111/j.1540-6261.2008.01369.x
  34. 34. Linda, A. 2004. “The Basel Capital Accords and International Mortgage Markets: A Survey of the Literature”. Financial Markets, Institutions & Instruments 13(2), 41–108.10.1111/j.0963-8008.2004.00001.x
  35. 35. Lindquist, K. 2004. “Banks buffer capital: How important is risk?” Journal of International Money and Finance 23, 493–513.10.1016/j.jimonfin.2004.01.006
  36. 36. Masahiro, K. and Prasad, E. 2011. “Financial Sector Regulation and Reforms in Emerging Markets: An Overview”. Financial Sector Reforms in Emerging Markets, edited by Brookings Institution Press. Working Paper No. 16428.
  37. 37. Nili, M. and Rastad, M. 2007. “Addressing the Growth Failure of the Oil Economies: The Role of Financial Development”. Quarterly Journal of Economics and Finance 46(5), 726–740.10.1016/j.qref.2006.08.007
  38. 38. Okuyan, H. A. 2013. “Capital Structure in Turkish Banking System”. Ege Academic Review 13(3), 295–30210.21121/eab.2013318089
  39. 39. Panetta, F., Faeh, T., Grande, G., Ho, C., King, M., Levy, A., Signoretti, M., Zaghini, A. 2009. “An assessment of financial sector rescue programmes”. BIS Papers 48.
  40. 40. Peek, J. and Rosengren, E.S. 1995. “Bank Lending and the Transmission of Monetary Policy”. Is Bank Lending Important for the Transmission of Monetary Policy?, edited by Peek, J. and Rosengren, E. S. Federal Reserve Bank of Boston Conference Series 39, 47–68.
  41. 41. Prasad, Eswar S. 2011. “Role reversal in global finance”. Proceedings — Economic Policy Symposium—Jackson Hole, Federal Reserve Bank of Kansas City, 339–390.
  42. 42. Repullo, R. andSuarez, J. 2012. “The procyclical effects of bank capital regulation”. Review of Financial Studies 26, 452–490.10.1093/rfs/hhs118
  43. 43. Romdhane, M. 2012. “The Determinants of Banks’ Capital Ratio in Developing Countries: Empirical Evidence from Tunisia”. Research Journal of Finance and Accounting, 3(1), 35–46.
  44. 44. Sahay, R., Čihák, M., N’Diaye, P., Barajas, A., Bi, R., Ayala, D.,Gao, Y.,Kyobe, A., Nguyen, L., Saborowski, C., Svirydzenka, K.,Yousefi, S.Y. 2015.“Rethinking Financial Deepening: Stability and Growth in Emerging Markets”. Working Paper 15/08, International Monetary Fund, Washington.10.5089/9781498312615.006
  45. 45. Stolz, S. and Wedow, M..2005. “Banks’ regulatory capital buffer and the business cycle: Evidence for German saving and cooperative banks”. Discussion Paper Series 2: Banking and Financial Studies. 249–264.10.2139/ssrn.2793966
  46. 46. Twinoburyo, E.N and Odhiambo, N.M. (2017) “Monetary Policy and Economic Growth: A Review of International Literature”. Journal of Central Banking Theory and Practice, 2, 123-137.10.2478/jcbtp-2018-0015
  47. 47. U.S. Department of the Treasury. 2009. “A New Foundation: Rebuilding Financial Regulation and Supervision”, White paper
  48. 48. Vallascas, F. andHagendorff, J. 2013. “The Risk Sensitivity of Capital Requirements: Evidence from an International Sample of Large Banks”. Review of Finance, 17(6), 1947–1988.10.1093/rof/rfs042
  49. 49. Xianlei, D. Liu, J., Hu, B. 2012. “Research on the Relationship of Commercial Bank’s Loan Loss Provision and Earning Management and Capital Management”, Journal of Service Science and Management 5(2), 48–78.
Language: English
Page range: 159 - 180
Submitted on: Jul 15, 2017
Accepted on: Oct 6, 2017
Published on: Sep 10, 2018
Published by: Central Bank of Montenegro
In partnership with: Paradigm Publishing Services
Publication frequency: 3 issues per year

© 2018 Turguttopbas Neslihan Topbaş, published by Central Bank of Montenegro
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.