Non-bank Financial Institutions and Capital Markets in Turkey
This study analyses the state of development, and prospects of future growth of Turkish non-bank financial institutions, and capital markets. Currently, credit markets in Turkey are dominated by banking, and capital markets are dominated by Governm...
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| Format: | Publication |
| Language: | English en_US |
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Washington, DC
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2003/04/2360799/non-bank-financial-institutions-capital-markets-turkey http://hdl.handle.net/10986/15162 |
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okr-10986-15162 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
FINANCIAL INSTITUTIONS CAPITAL MARKETS INFLATIONARY PRESSURES INVESTOR CONFIDENCE INVESTMENT ENVIRONMENT FINANCIAL ASSETS FINANCIAL SERVICES PRIVATE SECTOR FINANCING STRUCTURAL REFORMS FINANCIAL SYSTEMS PER CAPITA INCOME PER CAPITA GNP SAVINGS PROMOTION RESOURCES MOBILIZATION TAX POLICY TAX SYSTEM REVIEWS FINANCIAL INSTRUMENTS BANKING SYSTEMS INSTITUTION BUILDING INSURANCE INDUSTRY PRIVATE PENSION FUNDS MUTUAL FUND RATING EQUITY FINANCE DEBT FINANCING DERIVATIVES VENTURE CAPITAL CORPORATE GOVERNANCE ACCOUNTING STANDARDS AUDITING REGULATORY FRAMEWORK HOLDING COMPANIES RISK MANAGEMENT ACCOUNTING ACCOUNTING PRINCIPLES ANNUITIES AUDITING AUDITORS BANK ACCOUNTS BANK DEPOSITS BANK REGULATION BANKING SECTOR BANKING SYSTEM BANKRUPTCY BOND MARKETS BONDS BORROWING CAPITAL FORMATION CAPITAL MARKETS CAPITAL REQUIREMENT CAPITALIZATION CENTRAL BANK CLEARING HOUSE COMPETITIVENESS CONSOLIDATED SUPERVISION CONSOLIDATION CONSUMER PRICE INDEX CONTRACTUAL SAVINGS CONTRACTUAL SAVINGS INSTITUTIONS CORPORATE GOVERNANCE CPI CREDIT MARKETS DEBT DEPOSIT INSURANCE DEPOSITS DERIVATIVE MARKETS DERIVATIVES DEVELOPMENT STRATEGY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC STABILITY EQUITY INVESTMENT EQUITY INVESTMENTS EQUITY MARKETS EXPORT INSURANCE FACTORING FINANCIAL ASSETS FINANCIAL CONGLOMERATES FINANCIAL CRISES FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIATION FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEMS FIXED ASSET FUTURES GDP GDP PER CAPITA GNP GOVERNMENT SECURITIES INCOME INDUSTRIALIZATION INFLATION INFORMATION DISCLOSURE INSURANCE INSURANCE COMPANIES INSURANCE INDUSTRY INSURANCE SUPERVISION INTEREST RATE INTERNATIONAL ACCOUNTING STANDARDS IPO IPOS LEGISLATION LEVEL PLAYING FIELD LIQUIDITY MERGERS MUTUAL FUND MUTUAL FUNDS PENSION FUNDS PENSION SCHEMES PER CAPITA INCOME PRIVATE PENSION FUNDS PRIVATIZATION REAL SECTOR REINSURANCE REINSURANCE COMPANIES RISK MANAGEMENT RISK SHARING SAVINGS SECURITIES SECURITIES MARKETS SECURITIES TRADING SELF REGULATION SUPERVISORY AGENCIES TAXATION TRADING SYSTEMS TRANSPARENCY VALUE ADDED VENTURE CAPITAL WEALTH WORKING CAPITAL |
| spellingShingle |
FINANCIAL INSTITUTIONS CAPITAL MARKETS INFLATIONARY PRESSURES INVESTOR CONFIDENCE INVESTMENT ENVIRONMENT FINANCIAL ASSETS FINANCIAL SERVICES PRIVATE SECTOR FINANCING STRUCTURAL REFORMS FINANCIAL SYSTEMS PER CAPITA INCOME PER CAPITA GNP SAVINGS PROMOTION RESOURCES MOBILIZATION TAX POLICY TAX SYSTEM REVIEWS FINANCIAL INSTRUMENTS BANKING SYSTEMS INSTITUTION BUILDING INSURANCE INDUSTRY PRIVATE PENSION FUNDS MUTUAL FUND RATING EQUITY FINANCE DEBT FINANCING DERIVATIVES VENTURE CAPITAL CORPORATE GOVERNANCE ACCOUNTING STANDARDS AUDITING REGULATORY FRAMEWORK HOLDING COMPANIES RISK MANAGEMENT ACCOUNTING ACCOUNTING PRINCIPLES ANNUITIES AUDITING AUDITORS BANK ACCOUNTS BANK DEPOSITS BANK REGULATION BANKING SECTOR BANKING SYSTEM BANKRUPTCY BOND MARKETS BONDS BORROWING CAPITAL FORMATION CAPITAL MARKETS CAPITAL REQUIREMENT CAPITALIZATION CENTRAL BANK CLEARING HOUSE COMPETITIVENESS CONSOLIDATED SUPERVISION CONSOLIDATION CONSUMER PRICE INDEX CONTRACTUAL SAVINGS CONTRACTUAL SAVINGS INSTITUTIONS CORPORATE GOVERNANCE CPI CREDIT MARKETS DEBT DEPOSIT INSURANCE DEPOSITS DERIVATIVE MARKETS DERIVATIVES DEVELOPMENT STRATEGY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC STABILITY EQUITY INVESTMENT EQUITY INVESTMENTS EQUITY MARKETS EXPORT INSURANCE FACTORING FINANCIAL ASSETS FINANCIAL CONGLOMERATES FINANCIAL CRISES FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIATION FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEMS FIXED ASSET FUTURES GDP GDP PER CAPITA GNP GOVERNMENT SECURITIES INCOME INDUSTRIALIZATION INFLATION INFORMATION DISCLOSURE INSURANCE INSURANCE COMPANIES INSURANCE INDUSTRY INSURANCE SUPERVISION INTEREST RATE INTERNATIONAL ACCOUNTING STANDARDS IPO IPOS LEGISLATION LEVEL PLAYING FIELD LIQUIDITY MERGERS MUTUAL FUND MUTUAL FUNDS PENSION FUNDS PENSION SCHEMES PER CAPITA INCOME PRIVATE PENSION FUNDS PRIVATIZATION REAL SECTOR REINSURANCE REINSURANCE COMPANIES RISK MANAGEMENT RISK SHARING SAVINGS SECURITIES SECURITIES MARKETS SECURITIES TRADING SELF REGULATION SUPERVISORY AGENCIES TAXATION TRADING SYSTEMS TRANSPARENCY VALUE ADDED VENTURE CAPITAL WEALTH WORKING CAPITAL World Bank Non-bank Financial Institutions and Capital Markets in Turkey |
| geographic_facet |
Europe and Central Asia Turkey |
| relation |
World Bank Country Study; |
| description |
This study analyses the state of
development, and prospects of future growth of Turkish
non-bank financial institutions, and capital markets.
Currently, credit markets in Turkey are dominated by
banking, and capital markets are dominated by Government
securities. Longstanding macro-economic instability, and
inflation have discouraged investment in financial assets,
and crowded out funding for the private sector. The
resulting lack of depth, and breadth has made the financial
sector vulnerable to shocks, resulting in repeated crises,
and, has reduced its intermediation efficiency. To enhance
the financial sector's capacity to support private
sector development, and economic growth, and to reduce its
vulnerability to shocks, non-bank sources of finance should
be developed. The report identifies the key policy issues
that should be addressed for this purpose. The discussion,
and policy recommendations are structured around the
following leading themes: a) mobilizing savings; b) building
an institutional investor base, comprising insurance
companies, private pension funds, and mutual funds; c)
developing equity, debt, and derivative markets; d)
developing leasing, factoring, and venture capital
companies; and, e) strengthening confidence in financial
markets through improved corporate governance, accounting
and auditing standards, and practices, and, financial sector
regulation, and supervision. |
| format |
Publications & Research :: Publication |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Non-bank Financial Institutions and Capital Markets in Turkey |
| title_short |
Non-bank Financial Institutions and Capital Markets in Turkey |
| title_full |
Non-bank Financial Institutions and Capital Markets in Turkey |
| title_fullStr |
Non-bank Financial Institutions and Capital Markets in Turkey |
| title_full_unstemmed |
Non-bank Financial Institutions and Capital Markets in Turkey |
| title_sort |
non-bank financial institutions and capital markets in turkey |
| publisher |
Washington, DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2003/04/2360799/non-bank-financial-institutions-capital-markets-turkey http://hdl.handle.net/10986/15162 |
| _version_ |
1764425704629338112 |
| spelling |
okr-10986-151622021-04-23T14:03:11Z Non-bank Financial Institutions and Capital Markets in Turkey World Bank FINANCIAL INSTITUTIONS CAPITAL MARKETS INFLATIONARY PRESSURES INVESTOR CONFIDENCE INVESTMENT ENVIRONMENT FINANCIAL ASSETS FINANCIAL SERVICES PRIVATE SECTOR FINANCING STRUCTURAL REFORMS FINANCIAL SYSTEMS PER CAPITA INCOME PER CAPITA GNP SAVINGS PROMOTION RESOURCES MOBILIZATION TAX POLICY TAX SYSTEM REVIEWS FINANCIAL INSTRUMENTS BANKING SYSTEMS INSTITUTION BUILDING INSURANCE INDUSTRY PRIVATE PENSION FUNDS MUTUAL FUND RATING EQUITY FINANCE DEBT FINANCING DERIVATIVES VENTURE CAPITAL CORPORATE GOVERNANCE ACCOUNTING STANDARDS AUDITING REGULATORY FRAMEWORK HOLDING COMPANIES RISK MANAGEMENT ACCOUNTING ACCOUNTING PRINCIPLES ANNUITIES AUDITING AUDITORS BANK ACCOUNTS BANK DEPOSITS BANK REGULATION BANKING SECTOR BANKING SYSTEM BANKRUPTCY BOND MARKETS BONDS BORROWING CAPITAL FORMATION CAPITAL MARKETS CAPITAL REQUIREMENT CAPITALIZATION CENTRAL BANK CLEARING HOUSE COMPETITIVENESS CONSOLIDATED SUPERVISION CONSOLIDATION CONSUMER PRICE INDEX CONTRACTUAL SAVINGS CONTRACTUAL SAVINGS INSTITUTIONS CORPORATE GOVERNANCE CPI CREDIT MARKETS DEBT DEPOSIT INSURANCE DEPOSITS DERIVATIVE MARKETS DERIVATIVES DEVELOPMENT STRATEGY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC STABILITY EQUITY INVESTMENT EQUITY INVESTMENTS EQUITY MARKETS EXPORT INSURANCE FACTORING FINANCIAL ASSETS FINANCIAL CONGLOMERATES FINANCIAL CRISES FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIATION FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEMS FIXED ASSET FUTURES GDP GDP PER CAPITA GNP GOVERNMENT SECURITIES INCOME INDUSTRIALIZATION INFLATION INFORMATION DISCLOSURE INSURANCE INSURANCE COMPANIES INSURANCE INDUSTRY INSURANCE SUPERVISION INTEREST RATE INTERNATIONAL ACCOUNTING STANDARDS IPO IPOS LEGISLATION LEVEL PLAYING FIELD LIQUIDITY MERGERS MUTUAL FUND MUTUAL FUNDS PENSION FUNDS PENSION SCHEMES PER CAPITA INCOME PRIVATE PENSION FUNDS PRIVATIZATION REAL SECTOR REINSURANCE REINSURANCE COMPANIES RISK MANAGEMENT RISK SHARING SAVINGS SECURITIES SECURITIES MARKETS SECURITIES TRADING SELF REGULATION SUPERVISORY AGENCIES TAXATION TRADING SYSTEMS TRANSPARENCY VALUE ADDED VENTURE CAPITAL WEALTH WORKING CAPITAL This study analyses the state of development, and prospects of future growth of Turkish non-bank financial institutions, and capital markets. Currently, credit markets in Turkey are dominated by banking, and capital markets are dominated by Government securities. Longstanding macro-economic instability, and inflation have discouraged investment in financial assets, and crowded out funding for the private sector. The resulting lack of depth, and breadth has made the financial sector vulnerable to shocks, resulting in repeated crises, and, has reduced its intermediation efficiency. To enhance the financial sector's capacity to support private sector development, and economic growth, and to reduce its vulnerability to shocks, non-bank sources of finance should be developed. The report identifies the key policy issues that should be addressed for this purpose. The discussion, and policy recommendations are structured around the following leading themes: a) mobilizing savings; b) building an institutional investor base, comprising insurance companies, private pension funds, and mutual funds; c) developing equity, debt, and derivative markets; d) developing leasing, factoring, and venture capital companies; and, e) strengthening confidence in financial markets through improved corporate governance, accounting and auditing standards, and practices, and, financial sector regulation, and supervision. 2013-08-19T17:10:12Z 2013-08-19T17:10:12Z 2003-04 http://documents.worldbank.org/curated/en/2003/04/2360799/non-bank-financial-institutions-capital-markets-turkey 0-8213-5527-9 http://hdl.handle.net/10986/15162 English en_US World Bank Country Study; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC Publications & Research :: Publication Publications & Research :: Publication Europe and Central Asia Turkey |