Measuring The Impact of Shadow Banking on Traditional Banking: The Case of Türkiye
DOI:
https://doi.org/10.63556/ankad.v9i3.282Keywords:
Bank, granger, ARDL, shadow banking, financeAbstract
The banking sector is considered a significant actor among financial sectors. Banks, which are institutions that mediate the processing, management, and provision of other financial services to individuals and legal entities, operate within the banking sector. Banking activities are carried out in two ways: traditional and shadow banking. In traditional banking, deposits, funds, and loans are provided based on predetermined interest rates. Shadow banking, on the other hand, consists of credit intermediation activities that occur outside the traditional banking sector. First defined in 2007, shadow banking has become a frequently used concept in recent years, both globally and in Türkiye. Understanding the nature and importance of this concept is crucial. Therefore, this study examines the relationship between traditional banking and shadow banking in Türkiye. To test this relationship, the ARDL and VECM-based Granger Causality Test was employed. Data from 19 selected banks for the period 2014–2023 were collected for the analysis. The results of the study revealed no relationship from the return on equity (ROE) variable to other variables, while a one-way relationship was identified from other variables to the ROE variable. Furthermore, a relationship was found between guarantees and sureties, derivative financial instruments, and entrusted and pledged assets variables and ROE in both the short and long term. However, while a causal relationship from the commitments variable to the ROE variable was identified, this relationship could not be determined in the short or long term.
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