Mortgage systems and the adaptation of mortgage system in Turkey : analyzing the housing loans

Download

index.pdf

Date

2010

Author

Çobandağ, Melike

Metadata

Show full item record

Item Usage Stats

309
views

111
downloads

An efficient housing finance system has significant importance both in meeting the housing needs of individuals and in reinforcing the development of the construction, finance and other related sectors of an economy. Today, developed countries have advanced housing finance systems in which funds flow from savers to home-buyers by the mortgage markets. On the other hand, despite its recognized economic and social importance, housing finance often remains under-developed in developing countries mainly due to the lack of macroeconomic stability. Turkey, being a developing country, has made an important step towards the development of a mortgage system with the passage of the new Mortgage Law by the Parliament. Accordingly, the purpose of this thesis is to examine the applicability of mortgage system in Turkey. For this purpose, housing finance systems of some developed and developing countries are reviewed, and the housing finance system in Turkey is explained. Further, causality between the total amount of housing loans issued, inflation and nominal interest rates in Turkey is analyzed with the Toda-Yamamoto VAR approach. VAR analysis shows the negative impact of nominal interest rates on the total amount of housing loans issued in Turkey. To sum up, considering its economic and social environment, Turkey has adapted best international experiences, and it is possible for a mortgage system to develop in the country by the new mortgage legislation combined with the lower interest rates as inflation declines.

Subject Keywords

Business administration.

URI

http://etd.lib.metu.edu.tr/upload/12611939/index.pdf
https://hdl.handle.net/11511/19714

Collections

Graduate School of Social Sciences, Thesis

Suggestions

OpenMETU
Core

Determinants of managerial responses to environmental issues in small and medium enterprises in Turkey Ünver, Tayyar Can; Aşcıgil, Semra Feriha; Department of Business Administration (2008) The main purpose of this study is to identify the major driving factors that determine the environmental commitments and certification ownership of small and medium sized enterprises (SMEs) in Turkey. Turkey has been undergoing major economic and environmental developments since 1990ies. SMEs play a significant role in the Turkish economy, constituting 99.8% of total enterprises in number. Even though most managers overlook their firms’ particular impacts, SMEs’ cumulative effect on natural environment is s...
Entrepreneurial team characteristics, environmental scanning and networking: impact on organizational innovativeness in smes Tüten, Dilek; Aşcıgil, Semra Feriha; Department of Business Administration (2009) The main purpose of the present study was to examine the effects of entrepreneurial team demographics, environmental scanning and networking on innovativeness. For this purpose, small and medium enterprises in Bursa region were chosen. A total of 74 general managers/owners filled out the questionnaire. Information about company, team members and firms’ environmental scanning, innovativeness and networking activities was collected. As hypothesized, findings supported the view that entrepreneurial team demogr...
The effects of the inflation targeting regime on the İstanbul stock exchange Bölükbaşı, Firuze; Danışoğlu, Seza; Department of Business Administration (2009) The primary purpose of this study is to test the effects of inflation targeting in Turkey in terms of providing stability in the financial system by lowering the volatility in the Turkish stock market. Although there are many factors other than monetary policy which can affect stock market volatility, this study examines whether the volatility due to monetary policy can be reduced by increasing the accuracy of investors’ expectations about the central bank’s future actions. In the first part, a “Volatility ...
The determinants of portfolio investments to Turkey : from 1989 to 2008 Günayer, Elif; Küçükkaya, Halit Engin; Department of Business Administration (2009) This thesis analyzes the factors that determine the portfolio investments to Turkey in the period from 1989:04 to 2008:12. The factors that are examined are budget balance, current account balance, nominal exchange rate between the Turkish Lira and the US dollar, Turkish domestic interest rate, US 3-months Treasury Bill rate, annual inflation rate in Turkey and ISE 100 Index. A Vector Autoregressive Model is used for the purpose of examining the impacts of these variables on the level of portfolio investmen...
Housing crediting and urban development in Turkey. Kasar, Cere; Keskinok, H. Çağatay.; Department of Urban Policy Planning and Local Governments (2019) One of the most significant problems in developing countries relates to housing finance. Long-term housing assets are securitized during economic recessions, and the use of real estate as collateral to obtain bank credits creates fictitious growth in the economy. In the vicious circle, where most investments are made into the construction sector every year, it is the rural areas that strive to develop around the cities that suffer the most. The present study puts forward a good practice model to steer prope...

Citation Formats

M. Çobandağ, “Mortgage systems and the adaptation of mortgage system in Turkey : analyzing the housing loans,” M.B.A. - Master of Business Administration, Middle East Technical University, 2010.