Skip to main content
Disciplines
Automotive Business IT + Informatics Construction + Real Estate Electrical Engineering + Electronics Energy + Sustainability Insurance + Risk Finance + Banking Management + Leadership Marketing + Sales Mechanical Engineering + Materials
Events
DE
EN
Books
Journals
Topic Page
Marketing
Start single access now
Access for companies
EXTENDED SEARCH
Log in
Top
The Annals of Regional Science
Published in: The Annals of Regional Science 1/2016

05-04-2016 | Original Paper

The geography of financial intermediation in Turkey: 1988–2013

Authors: Ayse Ozden Birkan, Serpil Kahraman Akdogu

Published in: The Annals of Regional Science | Issue 1/2016

Log in

Activate our intelligent search to find suitable subject content or patents.

search-config
loading …

Abstract

This study aims to provide an analysis of the evolution of regional financial inequalities in Turkey over the 1988–2013 period. The theoretical premise of the study is the Keynesian view that the nature and the level of development of the banking system and the geography of financial intermediation are imperative to the understanding of regional economic disparities. Exploratory Spatial Data Analysis tools used in the analysis indicate the presence of a statistically significant non-random spatial pattern at the provincial NUTS 3 level for the 2006–2013 period. LISA cluster maps reveal that the southeastern provinces of the country constitute a hot spot of credit activity in this period. Moreover, the evolution of financial inequality indices suggests that this clustering has led to a reduction in regional financial disparities across the country over the period in question. The results of econometric conditional convergence analysis suggest regional beta-convergence in terms of Gross Value Added per Capita but no statistically significant link between beta-convergence and the reduction in financial disparities.
previous article Scattered or polycentric? Untangling urban growth in three southern European metropolitan regions through exploratory spatial data analysis
next article Immigrants’ location choice in Belgium

Dont have a licence yet? Then find out more about our products and how to get one now:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

inform now

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 390 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Maschinenbau + Werkstoffe




 

Jetzt Wissensvorsprung sichern!

inform now
Appendix
Available only for authorised users
Footnotes
1
Geographical weights can be constructed in many ways on the basis of contiguity, distance or a combination of the two as well as observed characteristics of the data. Broader discussions on the choice of the weighting scheme can be found in Griffith (1995) and Fischer and Getis (2010) as well as the references therein. Here we used queen contiguity weights following the literature convention.
 
2
Global Moran’s I statistics were calculated in STARS (Rey and Janikas 2006) using a queen contiguity matrix. The p values are based on randomization with 999 permutations. Although not presented in the manuscript, Geary’s C and Getis and Ord’s G statistics were also calculated and are available upon request. They confirm these results.
 
3
LISA cluster maps are created in GeoDa (Anselin et al. 2006) using a queen contiguity matrix, the randomization with the 999 permutations option and a significance level of 0.05. Although not presented in the manuscript, \(G_i\) and \(G^*_i\) cluster maps corroborate these findings and are available upon request.
 
4
This finding remains intact when the analysis is carried out using subregional NUTS 2 level data.
 
5
For a detailed presentation of spatial econometric models LeSage and Pace (2009) can be consulted.
 
6
A detailed discussion of the geographically weighted regression model can be found in Fotheringham et al. (2002).
 
Literature
Anselin L (1995) Local indicators of spatial association—LISA. Geogr Anal 27:93–115CrossRef
Anselin L (2005a) Interactive techniques and exploratory spatial data analysis. In: Longley PA, Goodchild MF, Maguire DJ, Rhind DW (eds) Geographical information systems: principles, techniques, management and applications, 2nd edn. Wiley, New York, pp 251–264
Anselin L (2005b) Exploring spatial data with GeoDaTM: a workbook. Center for Spatially Integrated Social Science, Urbana-Champaign
Anselin L, Ibnu S, Kho Y (2006) GeoDa: an introduction to spatial data analysis. Geogr Anal 38(1):5–22CrossRef
Celebioglu F, Dall’erba S (2010) Spatial disparities across the regions of Turkey: an exploratory spatial data analysis. Ann Reg Sci 45(2):379–400CrossRef
Chick V, Dow SC (1988) A Post-Keynesian perspective on the relation between banking and regional development. In: Arestis P (ed) Post-Keynesian monetary economics: new approaches to financial modelling. Edward Elgar Publishing, Cheltenham, pp 219–250
Dow SC (1987) The treatment of money in regional economics. J Reg Sci 27(1):13–24CrossRef
Dow SC, Rodriguez-Fuentes CJ (1997) Regional finance: a survey. Reg Stud 31(9):903–920CrossRef
Fischer MM, Getis A (2010) Handbook of applied spatial analysis. Springer, BerlinCrossRef
Florax RJGM, Folmer H, Rey SC (2003) Specification searches in spatial econometrics: the relevance of Hendry’s methodology. Reg Sci Urban Econ 33:557–579CrossRef
Fotheringham AS, Brundson C, Charlton ME (2002) Geographically weighted regression: the analysis of spatially varying relationships. Wiley, Chichester
Getis A (2005) Spatial statistics. In: Longley PA, Goodchild MF, Maguire DJ, Rhind DW (eds) Geographical information systems: principles, techniques, management and applications, 2nd edn. Wiley, New York, pp 251–264
Gezici F, Hewings GJD (2004) Regional convergence and economic performance of peripheral areas in Turkey. Rev Urban Reg Dev Stud 16(2):113–132CrossRef
Gezici F (2011) Regional disparities and the performance of peripheral regions in Turkey. 51st ERSA Conference, European Regional Science Association. Barcelona, Spain
Gezici F, Hewings GJD (2007) Spatial analysis of regional inequalities in Turkey. Eur Plan Stud 15(3):383–403CrossRef
Griffith DA (1995) Some guidelines for specifying the geographic weights matrix contained in spatial statistics models. In: Arlinghaus SL, Griffith DA, Arlinghaus WC, Drake WD, Nystrom JD (eds) Practical handbook of spatial analysis. CRC Press, Boca Raton, pp 65–82
Kilicaslan Y, Ozatagan G (2007) Impact of relative population change on regional income convergence: evidence from Turkey. Rev Urban Reg Dev Stud 19(3):210–223CrossRef
King RG, Levine R (1993) Finance and growth: Schumpeter might be right. Q J Econ 108(3):717–737CrossRef
Kirdar MG, Saracoglu DS (2008) Migration and regional convergence: an empirical investigation for Turkey. Pap Reg Sci 87(4):483–634CrossRef
LeSage J, Pace RK (2009) Introduction to spatial econometrics. CRC Press, Taylor and Francis Group LLC, Boca RatonCrossRef
Leung Y, Mei CL, Zhang WX (2000) Statistical tests for spatial nonstationarity based on the geographically weighted regression model. Environ Plan A 32:9–32CrossRef
Levine R (1997) Financial development and economic growth: views and Agenda. J Econ Lit XXXV:688–726
Lima M, Resende M (2008) Banking and regional inequality in Brazil: an empirical note. Braz J Polit Econ 284(112):669–677
Mamak MK, Api Samli Y, Kucukayhan Ascioglu M (2013) Banking regulation-Turkey. In: Kent R (ed) Banking regulation, 1st edn. Global Legal Group, London, pp 218–233
Onder Z, Ozyildirim S (2010) Banks, regional development disparity and growth: evidence from Turkey. Camb J Econ 34:975–1000CrossRef
Ozarslan M, Dincer B, Ozgur H (2006) Regional disparities and territorial indicators in Turkey: Socio-Economic Development Index (SEDI). European Regional Science Association Conference Papers No: 858
Ozhan T (2008) New Action Plan for Southeastern Turkey, SETA Foundation for Political Economic and Social Research, N.18
Ozyildirim S, Onder Z (2008) Banking activities and local output growth: does distance from center matter? Reg Stud 42(2):229–244CrossRef
Onder O, Deliktas E, Karadag M (2010) The impact of public capital stock on regional convergence in Turkey. Eur Plan Stud 18(7):1041–1055CrossRef
Rey SJ, Janikas MV (2006) STARS: space-time analysis of regional systems. Geogr Anal 38(1):67–86CrossRef
R Development Core Team (2008) R: a language and environment for statistical computing. R Foundation for Statistical Computing, Vienna, Austria. ISBN 3-900051-07-0, http://​www.​R-project.​org
The Banks Association of Turkey-TBA (2005) Financial sector and banking system in Turkey
The Banks Association of Turkey-TBA (2014) Turkiye’de Bankacılık Sistemi: 1958’den itibaren (Banking system in Turkey since 1958). TBA, Istanbul
TURKSTAT (2013) Regional Gross Value Added, N.16180
Uyar S (2003) Bankacılık Krizleri (Banking Crises). Beta Basım Yayım, Ankara
Yildirim J, Ocal N (2006) Income inequality and economic convergence in Turkey. Transit Stud Rev 13(3):559–568CrossRef
Yildirim J, Ocal N, Ozyildirim S (2009) Income inequality and economic growth in Turkey: a spatial effect analysis. Int Reg Sci Rev 32(2):221–225CrossRef
Metadata
Title
The geography of financial intermediation in Turkey: 1988–2013
Authors
Ayse Ozden Birkan
Serpil Kahraman Akdogu
Publication date
05-04-2016
Publisher
Springer Berlin Heidelberg
Published in
The Annals of Regional Science / Issue 1/2016
Print ISSN: 0570-1864
Electronic ISSN: 1432-0592
DOI
https://doi.org/10.1007/s00168-016-0759-4

Other articles of this Issue 1/2016

The Annals of Regional Science 1/2016 Go to the issue

Original Paper

Scattered or polycentric? Untangling urban growth in three southern European metropolitan regions through exploratory spatial data analysis

Original Paper

Human capital in cities and suburbs

Original Paper

Is agglomeration a free lunch for new exporters? Evidence from Chile

Original Paper

Moving up and down the urban hierarchy: age-articulated interregional migration flows in the Netherlands

Original Paper

Understanding gasoline price dispersion

Original Paper

European regional convergence revisited: the role of intangible assets