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Non Bank Financial Institutions And Capital Markets In Turkey
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Book Synopsis Non-bank Financial Institutions and Capital Markets in Turkey by : Lalit Raina
Download or read book Non-bank Financial Institutions and Capital Markets in Turkey written by Lalit Raina and published by World Bank Publications. This book was released on 2003-01-01 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: Currently, Turkey's financial services industry is in an early stage of development with credit markets dominated by banking and capital markets dominated by Government securities. Longstanding macro-economic instability and inflation have discouraged investment in financial assets and crowded out funding for the private sector. The resulting lack of depth and breadth has made the financial sector in Turkey vulnerable to shocks resulting in repeated crises, and has diminished its intermediation efficiency. This study analyzes the state of development and prospects for future growth of Turkish non-bank financial institutions and capital markets. It identifies the key policy issues that should be addressed in order to develop non-bank financial institutions in Turkey. Some of the themes included in the discussion and policy recommendations are: mobilizing savings; building an institutional investor base comprising insurance companies, private pension funds, and mutual funds; developing equity markets, debt markets, and derivative markets; developing leasing, factoring and venture capital companies; and strengthening confidence in financial markets through improved corporate governance.
Author :Banque internationale pour la reconstruction et le développement Publisher : ISBN 13 :9780821355282 Total Pages :149 pages Book Rating :4.3/5 (552 download)
Book Synopsis Non-bank Financial Institutions and Capital Markets in Turkey by : Banque internationale pour la reconstruction et le développement
Download or read book Non-bank Financial Institutions and Capital Markets in Turkey written by Banque internationale pour la reconstruction et le développement and published by . This book was released on 2003 with total page 149 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Turkish Banking written by Y. Altunbas and published by Springer. This book was released on 2008-12-15 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: In light of Turkey's EU bid and the successful IMF-led disinflation program, this book explores the evolution and performance of the Turkish banking sector. Analyzing the repercussions of overall economic structure, financial crises and political instability on its financial sector, it scrutinizes the prospects for the future of banking sectors.
Book Synopsis The Turkish Banking Sector in the Light of E.C. Integration by :
Download or read book The Turkish Banking Sector in the Light of E.C. Integration written by and published by . This book was released on 1988 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Political Economy of Financial Transformation in Turkey by : Galip Yalman
Download or read book The Political Economy of Financial Transformation in Turkey written by Galip Yalman and published by Routledge. This book was released on 2018-10-03 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume provides a comprehensive study of Turkey’s financial transformation into one of the most dynamic, if not trouble-free, emerging capitalisms. While this financial evolution has underwritten Turkey’s dramatic economic growth, it has done so without ameliorating the persistently exploitative and unequal social structures that characterize neoliberalism today. This edited volume, written by an interdisciplinary range of political economists, critically examines Turkey’s financial transformation, contributing to debates on the nature of peripheral financialization. Eschewing economistic interpretations, The Political Economy of Financial Transformation in Turkey underscores both the quantitative significance of exponential growth in financial flows and investments, and the qualitative importance of the state’s institutional restructuring around financial imperatives. The book presents today’s reality as historically rooted. By understanding the choices made under the new Republic (from 1923 onwards), one can better locate the changes launched as a newly liberalizing society (since 1980). Likewise, the decisions made in response to Turkey’s 2001 financial crisis spurred a tectonic break in state–market–society financial relations. The waves of change have reached far and wide: from corporate strategies of accumulation and growth to small- and medium-sized enterprises’ strategies of financial survival; from how finance has penetrated the provisioning of housing to how households have become financialized. Put together, one grasps the complexity and historicity of the power of contemporary finance. One also sees that the changes made have not been class-neutral, but have entailed elevating the interests of major capital groups, particularly financial capital, above the interests of the poor and workers in Turkey. Nor are these changes constrained to its national borders, as what transpires domestically contributes to the making of a financialized world market. Through this ‘Made in Turkey’ approach the contributions in this volume thus challenge dominant understandings of financialization, which are derived from the advanced capitalisms, by sharing the specificity of emerging capitalisms such as Turkey.
Book Synopsis The Regulation of Non-bank Financial Institutions by : Anjali Kumar
Download or read book The Regulation of Non-bank Financial Institutions written by Anjali Kumar and published by World Bank Publications. This book was released on 1997 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: World Bank Discussion Paper No. 362. There has been tremendous growth worldwide in the mobilization of financial resources outside traditional banking systems. Channeled mainly through capital markets, such rapid financial diversification is posing new challenges for regulators in many emerging markets. This document describes the various aspects and implications of this growth, reviews the regulatory framework adopted in some mature market economies, including the United States and the European Union, and discusses regulatory issues in emerging markets.
Book Synopsis Symposium on the Development of Capital Markets by :
Download or read book Symposium on the Development of Capital Markets written by and published by . This book was released on 1966 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Effects of Financial Liberalization and New Bank Entry on Market Structure and Competition in Turkey by : Cevdet Denizer
Download or read book The Effects of Financial Liberalization and New Bank Entry on Market Structure and Competition in Turkey written by Cevdet Denizer and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: November 1997 Promoting competition in Turkey's newly liberalized financial market requires striking a balance between potentially conflicting objectives and the risk entailed in financial deregulation. Banking must be regulated and well-supervised, but Turkey's banking system also needs to become far more competitive. Until 1980, Turkey's financial system was shaped to support state-oriented development. After the 1960s, the financial system, dominated by commercial banks, became an instrument of planned industrialization. Turkey had an uncompetitive financial market and an inefficient banking system. Controlled interest rates, directed credit, high reserve requirements and other restrictions on financial intermediation, and restricted entry of new banks Ñ plus the exit of many banks betwee 1960 and 1980 Ñ created a concentrated market dominated by banks owned by industrial groups with oversized branch networks and high overhead costs. Turkey since 1980 has seen a trend toward liberalization of its financial market. Reforms eliminated interest rate controls, eased the entry of new financial institutions, and allowed new types of instruments. Regulatory barriers were relaxed, attracting many banks (both Turkish and foreign) into the system, and Turkey's banking system became integrated with world markets. Denizer examines how reform has changed the system, focusing on Turkey's commercial retail banking market. He finds that: * Although reform reduced concentration in the industry, leading banks are still able to coordinate their pricing decisions overtly. High profitability appears to have resulted from the banks' uncompetitive pricing rather than their efficiency. Deregulation and liberalization should be continued and strengthened. * The entry of small-scale firms alone is not enough to increase competition, so new banks should probably not be expected to alter the market structure. * To promote competition will require addressing barriers to both entry and mobility. The main barrier to mobility seems to be the size of the large banks, which exerts a significant negative effect on competition. * Interbank rivalry among the leading banks can't be facilitated without creating new banks of a certain size with a reasonable number of branches. Breaking up public banks (which hold 30 percent of sectoral assets, excluding the Agricultural Bank and three development banks) could help create 15 to 20 new banks with 40 to 50 branches. This would reduce concentration and improve mobility in retail banking. * Breaking up the public banks before privatization would probably also improve their governance structures and efficiency. * Promoting the entry of nonbanks and local banks would also increase the number of institutions competing for deposits. Turkey lacks a healthy variety of credit institutions and should consider developing a mortgage market and creating institutions for housing finance. This paper-a product of the Development Research Group-is part of a larger effort in the group to study financial reforms and financial markets.
Book Synopsis The effects of financial liberalization and new bank entry on market structure and competition in turkey by : Cevdet Denizer
Download or read book The effects of financial liberalization and new bank entry on market structure and competition in turkey written by Cevdet Denizer and published by World Bank Publications. This book was released on 1997 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Non-bank Financial Institutions and Capital Markets in Turkey by : World Bank
Download or read book Non-bank Financial Institutions and Capital Markets in Turkey written by World Bank and published by World Bank Publications. This book was released on 2003 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: Currently, Turkey's financial services industry is in an early stage of development with credit markets dominated by banking and capital markets dominated by Government securities. Longstanding macro-economic instability and inflation have discouraged investment in financial assets and crowded out funding for the private sector. The resulting lack of depth and breadth has made the financial sector in Turkey vulnerable to shocks resulting in repeated crises, and has diminished its intermediation efficiency. This study analyzes the state of development and prospects for future growth of Turkish non-bank financial institutions and capital markets. Some of the themes included in the discussion and policy recommendations are: mobilizing savings; building an institutional investor base comprising insurance companies, private pension funds, and mutual funds; developing equity markets, debt markets, and derivative markets; developing leasing, factoring and venture capital companies; and strengthening confidence in financial markets through improved corporate governance.
Book Synopsis Islamic Finance Application in Turkey in Comparison with Other Countries by : Atilla Yücel
Download or read book Islamic Finance Application in Turkey in Comparison with Other Countries written by Atilla Yücel and published by GRIN Verlag. This book was released on 2012-05 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2012 in the subject Business economics - Investment and Finance, grade: 1,0, Istanbul Marmara University (Faculty of Economics and Administrative Sciences), course: Bank Funds Management, language: English, abstract: The Islamic finance industry has been on the rise with the Islamic banking sector growing throughout crises. Turkey's Islamic banking sector is said to have shown just a moderate growth compared to its actual potential and global developments. The country's Islamic banks are said to grow further depending on whether they're able to improve investments, and to find sources of mid- to long-term funding for their investment activities. In the Islamic finance industry Sukuk, a form of Shariah-compliant securitization, emerged as a viable form of finance for both sovereign and corporate entities that seek for Shariah-compliant long-term financing sources. Since the international breakthrough in 2001, Sukuk certificates have been increasingly issued in various jurisdictions throughout the Middle East and Asia, and in parts of the western world. The upward rise supposedly represents the need of Islamic financial institutions for longer-term funding sources to overcome their short-term liquidity constraints. This paper provides a comparative analysis (quantitative and qualitative) of developments and the current state of applications of Sukuk financing in Turkey and the global Islamic finance sector. Sukuk markets have surely become one of the main sections of the Islamic finance industry. Islamic banks in Turkey just recently tapped the market, though. In line with trends in global Sukuk issuances, Turkish Sukuk were sponsored by corporate entities and of the Ijarah and Murabaha Sukuk types. However, sovereign / quasi-sovereign Sukuk issuance has been globally on the rise lately. In the near future, this trend could happen to be also true for the Turkish Sukuk market.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :147557441X Total Pages :109 pages Book Rating :4.4/5 (755 download)
Book Synopsis Turkey: Financial Sector Assessment Program by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Turkey: Financial Sector Assessment Program written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2017-02-03 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fundamental stability challenges confronting the Turkish financial system are to reduce dependence on external and foreign currency financing and to increase the maturity and diversity of funding instruments on which banks and firms depend. The long-standing shortfall of national savings to finance domestic investment, persistent elevated inflation, and bouts of exchange rate volatility have boosted reliance on foreign currency financing from international capital markets and have also incentivized households and firms to place their own savings in short-term deposits, as well as in foreign currency.
Book Synopsis The Financial System and Public Enterprise Reform by : Asl? Demirgüç-Kunt
Download or read book The Financial System and Public Enterprise Reform written by Asl? Demirgüç-Kunt and published by World Bank Publications. This book was released on 1994 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public enterprise reform is more successful in countries whose financial systems are relatively well developed. Countries seeking to implement broad public enterprise reforms achieve greater success if they also implement substantial and well- designed financial reforms.
Book Synopsis Turkey Banking and Financial Market Handbook Volume 1 Strategic Information and Basic Laws by : IBP, Inc.
Download or read book Turkey Banking and Financial Market Handbook Volume 1 Strategic Information and Basic Laws written by IBP, Inc. and published by Lulu.com. This book was released on with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Turkey by : International Monetary Fund
Download or read book Turkey written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-09-07 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: The assessment is a featured report of Turkey’s credit boom in the middle of 2011. The country faced the global crisis successfully because of earlier significant capital buffers. Overall, the country was healthy financially, but there was a slowdown in loan growth and market vulnerabilities. This insignificant shudder caused the regime to strengthen the fiscal sector and insurance framework. Despite new macrofinancial risks in domestic and international developments, the Executive Board still considers Turkey a balanced power.
Book Synopsis Financial Markets, Institutions & Services by : N. K. Gupta
Download or read book Financial Markets, Institutions & Services written by N. K. Gupta and published by Ane Books Pvt Ltd. This book was released on 2011 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Role of Nonbank Financial Intermediaries by : Dimitri Vittas
Download or read book The Role of Nonbank Financial Intermediaries written by Dimitri Vittas and published by . This book was released on 1998 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
