The Evolution of central banking practices in developing countries: an effectiveness analysis on the post-crisis policy mixes of selected countries

Download
2015
Bozkurt, Zeynep
Implying an expansion in the central bank mandates and policy tools, the post-crisis understanding of central banking brought a challenging task for policymakers, particularly for those of developing countries. The main purpose of this study is to assess the effectiveness of some selected post-crisis policy mixes. To this end, two methodologies are used: event analysis and index analysis. The former reveals that the overall design of the policy mix requires more attention than the selection of certain tools – a fact that has been ignored by the literature until this date. The study later digs deeper by introducing the latter method. The Central Banking Effectiveness Index is developed in order to obtain information where event analysis and empirical analysis fall short to explain. Besides being one of the first attempts in the literature with such purpose, the main contribution of this approach is the incorporation of the interactions within the policy toolkit. The results from both analyses match. In this respect, this study intends to fill an important gap in the literature and open a way for prospective studies. The study also presents some important implications upon the use of capital flow management tools and the patterns in the selected developing countries – South Korea, Turkey and Brazil.

Suggestions

Analyzing the profit efficiency of the Turkish banking sector after the BRSA restructuring program in 2001: an empirical study using stochastic frontier approach between the years of 2002-2009
Hatunoğlu, Hande; Akbostancı Özkazanç, Elif; Department of Economics (2012)
This thesis analyzes the profit efficiency of the Turkish banking sector after the restructuring program by using Stochastic Frontier Approach. 28 banks are included in the analysis and the data belongs to the period 2002-2009. Profit efficiency scores of 28 banks are estimated by SFA. When the efficiency scores are analyzed according to the ownership status, profit efficiency scores of the state owned banks are found higher than other bank groups. Moreover, according to the asset size, large scale banks’ p...
An empirical study on early warning systems for banking sector
Boyraz, Mustafa Fatih; Gaygısız Lajunen, Esma; Department of Economics (2012)
Early Warning Systems (EWSs) for banking sectors are used to measure occurrence risks of banking crises, generally observed with a rundown of bank deposits and widespread failures of financial institutions. In countries with a small number of banks, for example Turkey with 48 banks (BDDK, 2011), every bank may be considered to have a systematic importance since the failure of any individual bank may carry a potential threat to lead to a banking crisis. Taking into account this fact the present study focuses...
International neoliberal development regime and regional development banks (African Development Bank, Asian Development Bank and Inter-American Development Bank)
Hecan, Mehmet; Tayfur, Mehmet Fatih; Department of International Relations (2017)
This thesis aims to illuminate regional development banks’ (RDBs) role in global diffusion of neoliberal policies since the early 1980’s. In this regard, it argues that along with the Bretton Woods Institutions (BWIs), the RDBs have also facilitated the spread of neoliberal policies, as these banks have practiced similar conditional/policy-based lending. In order to better explain the complementary roles of BWIs and RDBs within an analytical framework, the thesis employs the international relations (IR) con...
The Effects of bank specific, industry specific and macroeconomic factors on bank profitability in OECD countries between 2000-2009
Maltaş, Zeynep; Ayaydın Hacıömeroğlu, Hande; Department of Business Administration (2013)
This thesis analyzes the bank-specific, industry-specific and macroeconomic determinants of bank profitability (ROA) in 31 OECD Countries between 2000 and 2009 using a panel data. Each country‟s banking sector is treated as a single representative bank. Fixed effects model is used in the study. Deposits, capitalization, non-interest income, GDP growth are found to have a positive impact on bank profitability while non-performing loans, operating expenses and financial sector development have negative effect...
Foreign bank participation in emerging markets: lessons from Citibank case in Turkey
Taşdemir, Sinem Tuba; Muğan, Fatma Naciye Can; Ayaydın Hacıömeroğlu, Hande; Department of Business Administration (2010)
An extensive literature has examined many of the consequences of foreign bank participation in emerging markets. However, research to date has largely focused on the effects of foreign bank participation in domestic banks and yet revealed little about the situation for foreign banks. The thesis, examines Citibank in Turkey as a particular case in order to address this gap. The results show that Citibank‟s growth and presence in the Turkish banking sector depends significantly on: ownership advantages relate...
Citation Formats
Z. Bozkurt, “The Evolution of central banking practices in developing countries: an effectiveness analysis on the post-crisis policy mixes of selected countries,” M.S. - Master of Science, Middle East Technical University, 2015.