THE TURKISH FINANCIAL SYSTEM AND THE DEVELOPMENT OF FINANCIALI NSTITUTIONS IN THE 100TH YEARS OF THE REPUBLIC OF TÜRKİYE

Gökçe Sinem Erbuğa; Ayşegül Gürsoy

Makale detayları

THE TURKISH FINANCIAL SYSTEM AND THE DEVELOPMENT OF FINANCIALI NSTITUTIONS IN THE 100TH YEARS OF THE REPUBLIC OF TÜRKİYE

Yazarlar:

Gökçe Sinem Erbuğa | Ayşegül Gürsoy

Yayıncı:

Çanakkale Onsekiz Mart University

Ana Başlıklar:

Sermaye Piyasaları

Dergi:

Yönetim Bilimleri Dergisi Vol.22 Issue 51, pp.77-95

Belge Tipi:

Makale

Yayın Tarihi:

1/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001310861

pISSN:

1304-5318

Anahtar kelimeler:

Özet:

 The financial system consists of fund suppliers and demanders, investment instruments and intermediaries, legal regulations, and regulatory institutions. It is possible to divide the institutions in the Turkish financial system into two as credit institutions which mainly include deposit and participation banks and financial institutions. However, when these institutions in the financial system are considered in more detail, it is seen that they operate in many different areas such as banking, non-banking finance, capital markets, participation finance, insurance, payment systems and electronic money sector. The main purpose of financial institutions is to enable the money movement in the markets to be carried out effectively. In this respect, cash flow between parties with surplus funds and parties with shortfalls is realized through financial institutions. When we consider the Turkish financial system, it would be correct to divide its development into two important periods. The first period, covering the period between 1923 and 1980, was the period when the state intervened heavily in the market with its supervisory and regulatory role and had a pioneering mission in the market. In this period, a closed financial system was adopted so foreign investors and financial institutions were prohibited from carrying on the business or economic activities in Türkiye. The second period, from 1980 to the present, refers to the period when the financial system began to liberalize and the barriers to entry of foreigners into financial markets began to be removed. With the inclusion of foreigners in the financial system, it is seen that foreign currency transactions have started to be carried out. In this period, which covers approximately the last 40 years, financial markets have started to liberalize. In addition, with global integration, digitalization and other advances in technology, diversification of financial instruments, increased financial instability and economic waves are in question. For this reason, in order to maintain financial stability, the roles of existing financial institutions should be questioned, and new financial institutions should be established. In this study, which was carried out in this direction, the historical development and roles of the financial system and its institutions in the 100th year of the Republic were examined in detail. The functions of financial institutions and the duties they should undertake in the future were discussed and suggestions were made.

 The financial system consists of fund suppliers and demanders, investment instruments and intermediaries, legal regulations, and regulatory institutions. It is possible to divide the institutions in the Turkish financial system into two as credit institutions which mainly include deposit and participation banks and financial institutions. However, when these institutions in the financial system are considered in more detail, it is seen that they operate in many different areas such as banking, non-banking finance, capital markets, participation finance, insurance, payment systems and electronic money sector. The main purpose of financial institutions is to enable the money movement in the markets to be carried out effectively. In this respect, cash flow between parties with surplus funds and parties with shortfalls is realized through financial institutions. When we consider the Turkish financial system, it would be correct to divide its development into two important periods. The first period, covering the period between 1923 and 1980, was the period when the state intervened heavily in the market with its supervisory and regulatory role and had a pioneering mission in the market. In this period, a closed financial system was adopted so foreign investors and financial institutions were prohibited from carrying on the business or economic activities in Türkiye. The second period, from 1980 to the present, refers to the period when the financial system began to liberalize and the barriers to entry of foreigners into financial markets began to be removed. With the inclusion of foreigners in the financial system, it is seen that foreign currency transactions have started to be carried out. In this period, which covers approximately the last 40 years, financial markets have started to liberalize. In addition, with global integration, digitalization and other advances in technology, diversification of financial instruments, increased financial instability and economic waves are in question. For this reason, in order to maintain financial stability, the roles of existing financial institutions should be questioned, and new financial institutions should be established. In this study, which was carried out in this direction, the historical development and roles of the financial system and its institutions in the 100th year of the Republic were examined in detail. The functions of financial institutions and the duties they should undertake in the future were discussed and suggestions were made.

 The financial system consists of fund suppliers and demanders, investment instruments and intermediaries, legal regulations, and regulatory institutions. It is possible to divide the institutions in the Turkish financial system into two as credit institutions which mainly include deposit and participation banks and financial institutions. However, when these institutions in the financial system are considered in more detail, it is seen that they operate in many different areas such as banking, non-banking finance, capital markets, participation finance, insurance, payment systems and electronic money sector. The main purpose of financial institutions is to enable the money movement in the markets to be carried out effectively. In this respect, cash flow between parties with surplus funds and parties with shortfalls is realized through financial institutions. When we consider the Turkish financial system, it would be correct to divide its development into two important periods. The first period, covering the period between 1923 and 1980, was the period when the state intervened heavily in the market with its supervisory and regulatory role and had a pioneering mission in the market. In this period, a closed financial system was adopted so foreign investors and financial institutions were prohibited from carrying on the business or economic activities in Türkiye. The second period, from 1980 to the present, refers to the period when the financial system began to liberalize and the barriers to entry of foreigners into financial markets began to be removed. With the inclusion of foreigners in the financial system, it is seen that foreign currency transactions have started to be carried out. In this period, which covers approximately the last 40 years, financial markets have started to liberalize. In addition, with global integration, digitalization and other advances in technology, diversification of financial instruments, increased financial instability and economic waves are in question. For this reason, in order to maintain financial stability, the roles of existing financial institutions should be questioned, and new financial institutions should be established. In this study, which was carried out in this direction, the historical development and roles of the financial system and its institutions in the 100th year of the Republic were examined in detail. The functions of financial institutions and the duties they should undertake in the future were discussed and suggestions were made.

 Finansal sistem fon talep edenler, fon arz edenler, yatırım araçları ve aracıları ile yasal düzenlemeler ve düzenleyici kurumlardan oluşmaktadır. Türk finansal sistemi içerisinde yer alan kuruluşları temel olarak mevduat ve katılım bankalarını içeren kredi kuruluşları ve finansal kuruluşlar olarak ikiye ayırmak mümkündür. Ancak finansal sistem içerisinde yer alan bu kurumlar daha detaylı bir şekilde ele alındığında, bankacılık, bankacılık dışı finans, sermaye piyasaları, katılım finans, sigortacılık, ödeme sistemleri ve elektronik para sektörü gibi çok farklı alanlarda faaliyet gösterdikleri görülmektedir. Finansal kurumların en temel amacı piyasalardaki para hareketliliğinin etkin bir biçimde yürütülmesine olanak sağlamaktadır. Bu doğrultuda, fon fazlası olan taraflarla fon açığı olan taraflar arasındaki nakit akışı finansal kurumlar aracılığıyla gerçekleştirilmektedir. Türk finansal sistemini ele alacak olduğumuzda gelişimini iki önemli döneme ayırmak doğru olacaktır. 1923-1980 arasını kapsayan ilk dönem, devletin piyasaya denetleyici ve düzenleyici rolüyle müdahalesinin yoğun olduğu ve piyasada öncü bir misyona sahip olduğu dönemdir. Bu dönemde ayrıca dışa oldukça kapalı bir finansal sistem benimsenmiş olup; dış yatırımcıların ve finansal kurumların ülkeye girişine müsaade edilmemiştir. 1980den günümüze kadar olan ikinci dönem ise finansal sistemin serbestleşmeye başlaması ve yabancıların finansal piyasalara girişleri önündeki engellerin kaldırılmaya başlandığı dönemi ifade etmektedir. Yabancıların finansal sisteme dahil edilmesiyle beraber yabancı para cinsinden işlemlerin gerçekleştirilmeye başlandığı görülmektedir. Yaklaşık olarak son 40 yılı kapsayan bu dönemde, finansal piyasaların serbestleşmeye başladığı açık bir biçimde görülmektedir. Bunun yanı sıra küresel bütünleşme, dijitalleşme ve teknolojide görülen diğer ilerlemelerle beraber finansal araçların çeşitlenmesi, finansal istikrarsızlığın artması ve ekonomik dalgaların görülmesi söz konusudur. Bu nedenle finansal istikrarın sürdürülebilmesi için mevcut finansal kurumların rollerinin sorgulanması ve yeni finansal kurumların oluşturulması gerekmektedir. Bu doğrultuda gerçekleştirilen bu çalışmada Cumhuriyetin 100.Yılında finansal sistemin ve kurumlarının tarihsel gelişimi ve rolleri detaylı bir biçimde incelenmiştir. Finansal kurumların işlevleri ve gelecekte üstlenmesi gereken görevler tartışılarak önerilerde bulunulmuştur.

Makale detayları

THE TURKISH FINANCIAL SYSTEM AND THE DEVELOPMENT OF FINANCIALI NSTITUTIONS IN THE 100TH YEARS OF THE REPUBLIC OF TÜRKİYE

Yazarlar:

Gökçe Sinem Erbuğa | Ayşegül Gürsoy

Yayıncı:

Çanakkale Onsekiz Mart University

Ana Başlıklar:

Sermaye Piyasaları

Dergi:

Yönetim Bilimleri Dergisi Vol.22 Issue 51, pp.77-95

Belge Tipi:

Makale

Yayın Tarihi:

1/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001310861

pISSN:

1304-5318

Financial System

Financial Institutions

Market LiberalizationFinansal Sistem

Finansal Kurumlar

Piyasa Serbestleşmesi

Sayı

Makale detayları

THE TURKISH FINANCIAL SYSTEM AND THE DEVELOPMENT OF FINANCIALI NSTITUTIONS IN THE 100TH YEARS OF THE REPUBLIC OF TÜRKİYE

Yazarlar: Gökçe Sinem Erbuğa | Ayşegül Gürsoy

Yayıncı: Çanakkale Onsekiz Mart University

Ana Başlıklar: Sermaye Piyasaları

Dergi: Yönetim Bilimleri Dergisi Vol.22 Issue 51, pp.77-95

Belge Tipi: Makale

Yayın Tarihi: 1/2024

Belge Dili: Türkçe

Document ID (Org No.): 2001310861

pISSN: 1304-5318

Financial System

Financial Institutions

Market LiberalizationFinansal Sistem

Finansal Kurumlar

Piyasa Serbestleşmesi

Sayı

Yazarlar:

Gökçe Sinem Erbuğa | Ayşegül Gürsoy

Yayıncı:

Çanakkale Onsekiz Mart University

Ana Başlıklar:

Sermaye Piyasaları

Dergi:

Yönetim Bilimleri Dergisi Vol.22 Issue 51, pp.77-95

Belge Tipi:

Makale

Yayın Tarihi:

1/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001310861

pISSN:

1304-5318