Bank Lending in Turkey Effects of Monetary and Fiscal Policies

The period following the 2000-01 crisis was marked by a successful disinflation program sustained through inflation targeting and fiscal discipline in Turkey. This paper studies the impact of monetary and fiscal policies on credit growth during this period. Using quarterly bank-level data covering 2...

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Bibliographic Details
Main Author: Aydin, Burcu
Other Authors: Igan, Deniz
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2010
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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260 |a Washington, D.C.  |b International Monetary Fund  |c 2010 
300 |a 33 pages 
651 4 |a Turkey 
653 |a Depository Institutions 
653 |a Credit 
653 |a Commercial banks 
653 |a Banks 
653 |a Finance 
653 |a Banks and banking 
653 |a Industries: Financial Services 
653 |a Monetary economics 
653 |a Financial institutions 
653 |a Monetary Policy, Central Banking, and the Supply of Money and Credit: General 
653 |a Fiscal Policy 
653 |a Micro Finance Institutions 
653 |a Fiscal policy 
653 |a Mortgages 
653 |a Money 
653 |a Loans 
653 |a Banks and Banking 
653 |a Financial Markets and the Macroeconomy 
653 |a Bank credit 
653 |a Macroeconomics 
653 |a Banking 
653 |a Public Finance 
653 |a Money and Monetary Policy 
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520 |a The period following the 2000-01 crisis was marked by a successful disinflation program sustained through inflation targeting and fiscal discipline in Turkey. This paper studies the impact of monetary and fiscal policies on credit growth during this period. Using quarterly bank-level data covering 2002-08, we find evidence that liquidity-constrained banks have sharper decline in lending during contractionary monetary policies and that crowding-out effect disappears more for banks with a retail-banking focus when fiscal policies are prudent.The results are statistically weak, suggesting that bank lending channel is not strong in Turkey and government finances has limited direct impact on credit