Browsing by Subject "Russian Federation"

Now showing 1 - 4 of 4

Open Access
Depositors' assessment of bank riskiness in the Russian Federation
(Springer, 2008) Ungan, E.; Caner, S.; Özyıldırım, S.
In the period after the crises in the late 1990s, the banking industries in most emerging markets have undergone significant restructuring consistent with the Basel II Accord. The Central Bank of Russia's efforts since 2000 have contributed to the consolidation and improvement of the banking industry. To measure the extent of market discipline in the Russian banking industry, we study the reaction of Russian depositors to excessive risk taking by large banks between 2000:1 and 2005:1. We find that during our analysis period, well-capitalized, more liquid banks significantly increase their deposits.
Open Access
Essays on market discipline in emerging markets
(2007) Ungan, Ayşe Ece
In the aftermath of major crises, most emerging markets improved their banking industries according to Basel-II requirements, which emphasize the role of market discipline, supervision and capital adequacy in controlling risk-taking by banks. After the 1998 crisis in the Russian Federation and the 2001 crisis in Turkey, Central Bank of Russia and Banking Regulation and Supervision Agency of Turkey restructured and consolidated the banking industries in both of the countries. In the restructured banking environment, market discipline could be used as a complementary mechanism for improved supervision of banking systems. First two essays of this thesis elaborate on depositor discipline in the Russian Federation and Turkey. Findings provide evidence that in the Russian Federation, depositors allocate funds in well-capitalized and liquid banks. Similarly after the crisis, depositors in Turkey prefer well-capitalized banks that have favorable asset quality. Although banks in Turkey operate more efficiently, due to excessive guarantees, depositors do not monitor banks’ risk taking behavior particularly before restructuring. In the third essay, the role of different types of shareholders in disciplining listed banks in Turkey is studied. While diversified shareholders are interested in profitability, owner-managers are concerned with capital adequacy, liquidity and efficiency of the banks. In addition, owner-managers are found to have some influence on bank management to reduce risk-taking. In particular, small banks take measures to increase the capital ratio while decreasing non-performing loans as a result of an increase in shareholders’ asset risk assessments.
Open Access
The ‘Rojava revolution’ in Syrian Kurdistan: a model of development for the middle east?
(Institute of Development Studies, 2016) Cemgil, C.; Hoffmann, C.
As the civil war in Syria continues, in the territory of Rojava - in Kurdish, ‘the West’ - the northern Syrian Kurdish political movement is attempting to implement ‘libertarian municipalism’, based on the thoughts of United States (US) anarchist Murray Bookchin. Since the withdrawal of Syrian regime forces in 2012, the movement has consolidated significant territorial gains as a US ally in the anti-Islamic State (IS) struggle, while simultaneously securing Russian support. Viewed with suspicion by Turkey, Syria and Iraqi Kurdistan, the geopolitical conditions of Rojava’s emergence are its greatest impediment. This article analyses Rojava’s model of rule and socioeconomic development, and its theory and practice in the context of the civil war, and regional Middle Eastern and wider global geopolitics. It reflects on Rojava’s place and meaning for contemporary geopolitics in the Middle East, and considers the territory’s prospects, discussing its transformative potential for an otherwise troubled region. © 2016 The Authors and Institute of Development Studies.
Open Access
Thrace on the East : Georgia?
(2004) Kiremitçi, İlker
Since Turkey has turned its face towards Europe, it can be concluded that one of its ‘backs’ is the Caucasian region. However, Caucasia may not constitute Turkey’s first security priority under present conditions, but this does not mean that it will not, in the future. Therefore, that Turkey should consider its ‘back’ from the security perspective is an indisputable reality. In that sense, this thesis examines one of the Caucasian states, namely GEORGIA, which is in the middle of the region, from the security point of view. How Georgia has been affecting Turkish security policies after the end of Cold War is the main concern of the thesis.