House prices and bank loan portfolios in an emerging market: The role of bank ownership

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buir.contributor.authorAyberk, İdil
buir.contributor.authorÖnder, Zeynep
buir.contributor.orcidAyberk, İdil|0000-0002-3017-965X
buir.contributor.orcidÖnder, Zeynep|0000-0002-9260-6557
dc.citation.epage105683-13en_US
dc.citation.spage105683-1en_US
dc.citation.volumeNumber106en_US
dc.contributor.authorAyberk, İdil
dc.contributor.authorÖnder, Zeynep
dc.date.accessioned2023-02-16T13:06:39Z
dc.date.available2023-02-16T13:06:39Z
dc.date.issued2022-01
dc.departmentDepartment of Managementen_US
dc.description.abstractEvidence from developed markets suggests that banks increase their mortgage loans with house price appreciation, but the findings for commercial and consumer loans are mixed. How do banks change their loan allocation with the appreciation of house prices in an emerging market? Do state-owned banks behave differently? We answer these questions using province-level data from Turkey over 2007Q4–2015Q2 and unavailable land share and mortgage rate as instruments for house price growth. We find that banks substitute away from commercial and industrial loans to mortgage, consumer, and construction loans as house prices appreciate. In addition, state-owned banks misallocate their loans by reducing their commercial and agricultural lending more than private banks. Our results imply that the policymakers should consider the adverse effects of house price appreciation due to the crowding-out of commercial loans, especially by state-owned banksen_US
dc.description.provenanceSubmitted by Bilge Kat (bilgekat@bilkent.edu.tr) on 2023-02-16T13:06:39Z No. of bitstreams: 2 House_prices_and_bank_loan_portfolios_in_an_emerging_market_the_role_of_bank_ownership.pdf: 1532994 bytes, checksum: b62f142e3d516730ad3a4d52f6648a20 (MD5) House_prices_and_bank_loan_portfolios_in_an_emerging_market_the_role_of_bank_ownership.pdf: 1532994 bytes, checksum: b62f142e3d516730ad3a4d52f6648a20 (MD5)en
dc.description.provenanceMade available in DSpace on 2023-02-16T13:06:39Z (GMT). No. of bitstreams: 2 House_prices_and_bank_loan_portfolios_in_an_emerging_market_the_role_of_bank_ownership.pdf: 1532994 bytes, checksum: b62f142e3d516730ad3a4d52f6648a20 (MD5) House_prices_and_bank_loan_portfolios_in_an_emerging_market_the_role_of_bank_ownership.pdf: 1532994 bytes, checksum: b62f142e3d516730ad3a4d52f6648a20 (MD5) Previous issue date: 2022-01en
dc.identifier.doi10.1016/j.econmod.2021.105683en_US
dc.identifier.eissn1873-6122
dc.identifier.issn0264-9993
dc.identifier.urihttp://hdl.handle.net/11693/111465
dc.language.isoEnglishen_US
dc.publisherElsevieren_US
dc.relation.isversionofhttps://doi.org/10.1016/j.econmod.2021.105683en_US
dc.source.titleEconomic Modellingen_US
dc.subjectBank creditsen_US
dc.subjectCrowding-outen_US
dc.subjectEmerging marketsen_US
dc.subjectHouse priceen_US
dc.subjectState-owned banksen_US
dc.titleHouse prices and bank loan portfolios in an emerging market: The role of bank ownershipen_US
dc.typeArticleen_US

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