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The effect of monetary policy on bank lending in Turkey

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  • Ahmet Sengonul
  • Willem Thorbecke

Abstract

This paper investigates how monetary policy affects bank lending in Turkey. Kashyap and Stein (2000) show that if contractionary monetary policy affects the supply of bank loans, it will reduce lending more at banks with less liquid balance sheets. Here, it is found that this is true in Turkey, indicating that there is a lending channel of monetary transmission there.

Suggested Citation

  • Ahmet Sengonul & Willem Thorbecke, 2005. "The effect of monetary policy on bank lending in Turkey," Applied Financial Economics, Taylor & Francis Journals, vol. 15(13), pages 931-934.
    • Handle: RePEc:taf:apfiec:v:15:y:2005:i:13:p:931-934
    DOI: 10.1080/0960310050010225
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    References listed on IDEAS

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    1. Jeremy C. Stein & Anil K. Kashyap, 2000. "What Do a Million Observations on Banks Say about the Transmission of Monetary Policy?," American Economic Review, American Economic Association, vol. 90(3), pages 407-428, June.
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    Citations

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    Cited by:

    1. Burcu Aydin & Deniz Igan, 2012. "Bank Lending in Turkey: Effects of Monetary and Fiscal Policies," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 48(5), pages 78-104, September.
    2. Adel Boughrara & Samir Ghazouani, 2010. "Is There A Bank Lending Channel Of Monetary Policy In Selected Mena Countries? A Comparative Analysis," Middle East Development Journal (MEDJ), World Scientific Publishing Co. Pte. Ltd., vol. 2(02), pages 251-282.
    3. Muhamed Zulkhibri, 2013. "Bank-characteristics, lending channel and monetary policy in emerging markets: bank-level evidence from Malaysia," Applied Financial Economics, Taylor & Francis Journals, vol. 23(5), pages 347-362, March.
    4. Aysan, Ahmet Faruk & Ceyhan, Şanli Pinar, 2008. "What determines the banking sector performance in globalized financial markets? The case of Turkey," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 387(7), pages 1593-1602.
    5. Varlik Serdar & Berument M. Hakan, 2016. "Credit channel and capital flows: a macroprudential policy tool? Evidence from Turkey," The B.E. Journal of Macroeconomics, De Gruyter, vol. 16(1), pages 145-170, January.
    6. Fatemeh Razmi & Azali Mohamed & Lee Chin & Muzafar Shah Habibullah, 2017. "How Does Monetary Policy Affect Economic Vulnerability to Oil Price Shock as against US Economy Shock?," International Journal of Economics and Financial Issues, Econjournals, vol. 7(2), pages 544-550.
    7. Neslihan Turguttopbas, 2017. "Perspectives on Monetary Policy and Cost of Capital: Evidence from Turkey," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 6(2), pages 45-64.
    8. Haddou, Samira, 2022. "International financial stress spillovers to bank lending: Do internal characteristics matter?," International Review of Financial Analysis, Elsevier, vol. 83(C).
    9. Anthony M. Simpasa & Boaz Nandwa & Tiguéné Nabassaga, 2014. "Working Paper - 211 - Bank Lending Channel of Monetary Policy Transmission in Zambia: Evidence from Bank-Level Data," Working Paper Series 2147, African Development Bank.

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