Determinants of Credit Booms in Turkey
Posted: 12 Apr 2012 Last revised: 19 Jan 2013
Date Written: January 1, 2012
Abstract
Using different credit measures, this study identifies the credit booms in Turkey that have occurred after December 2002, and examines their determinants. We find that the primary factors that have a strong correlation with the probability of a credit boom are the changes in the slope of the yield curve, reel exchange rate, US interest rate and net capital inflows. The results imply that these factors should be considered as important elements in forecasting such events that could threaten financial stability.
Note: Downloadable document is in Turkish.
Keywords: Credit booms, financial stability, logit model, Turkey
JEL Classification: E32, E44, E51, G21
Suggested Citation: Suggested Citation