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The Bank Lending Channel In Turkey: Effect of Capital Adequacy Ratio

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  • Cihan Aktas
  • Bedri Kamil Onur Tas

Abstract

This paper empirically analyzes the effect of monetary policy changes on loan supply of Turkish banks and presents the evidence that bank lending channel of monetary policy transmission mechanism is operating through the capital adequacy of Turkish banks. By using the CAR as an indicator of capital constraint we show that banks that do not have capital constraints respond more to monetary policy. Also, banks with different CAR react differently to monetary policy changes. We show that the asymmetric effect of CAR may help to explain the mixed results in the empirical literature about the bank lending channel.

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File URL: http://www.bddk.org.tr/WebSitesi/turkce/Raporlar/BDDK_Dergi/3887makale3.pdf
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Bibliographic Info

Article provided by Banking Regulation and Supervision Agency in its journal Journal of Banking and Financial Markets.

Volume (Year): 1 (2007)
Issue (Month): 1 ()
Pages: 61-76

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Handle: RePEc:bdd:journl:v:1:y:2007:i:1:p:61-76

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Web page: http://www.bddk.org.tr/WebSitesi/turkce/Raporlar/BDDK_Dergi/BDDK_Dergi.aspx
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Related research

Keywords: Monetary Transmission Mechanism; Bank Lending Channel; Capital Adequacy Ratio;

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  1. Joe Peek & Eric S. Rosengren, 1995. "Bank lending and the transmission of monetary policy," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 39, pages 47-79.
  2. Altunbas, Yener & Fazylov, Otabek & Molyneux, Philip, 2002. "Evidence on the bank lending channel in Europe," Journal of Banking & Finance, Elsevier, vol. 26(11), pages 2093-2110, November.
  3. Kishan, Ruby P & Opiela, Timothy P, 2000. "Bank Size, Bank Capital, and the Bank Lending Channel," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 32(1), pages 121-41, February.
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