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Quantifying the Effects of Loan-to-Value Restrictions: Evidence from Turkey

Author

Listed:
  • Yavuz Arslan
  • Gazi Kabas
  • Ahmet Ali Taskin

Abstract

We examine the effect of loan-to-value restriction on automobile loans using primary market car sales in Turkey. We identify the effect of the policy using the specific nature of the regulation that imposes higher downpayment restriction for automobile loans with higher prices. We observe that the drop in automobile sales growth is higher for more expensive cars net of other controlled factors.

Suggested Citation

  • Yavuz Arslan & Gazi Kabas & Ahmet Ali Taskin, 2015. "Quantifying the Effects of Loan-to-Value Restrictions: Evidence from Turkey," Working Papers 1535, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    • Handle: RePEc:tcb:wpaper:1535
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    File URL: https://www.tcmb.gov.tr/wps/wcm/connect/EN/TCMB+EN/Main+Menu/Publications/Research/Working+Paperss/2015/15-35
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    Cited by:

    1. M. Fatih Ekinci & F. Pinar Erdem & Zubeyir Kilinc, 2015. "Credit growth, current account and financial depth," Applied Economics, Taylor & Francis Journals, vol. 47(17), pages 1809-1821, April.

    More about this item

    Keywords

    Macroprudential policy; Loan-to-value policy; Automobile loans; Car sales;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy

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