Digital library of construction informatics and information technology in civil engineering and construction
Digital library
Paper: eres2013_11
| Paper title: | Conditions of Mortgage Market Development in Turkey: A Critical Empirical Review |
| Authors: | Coskun, Yener |
| Summary: | The objective of the paper is to define conditions of mortgage market development in Turkey by presenting the findings of dynamic causal relationships between housing loans and selected socio/macro-economic indicators for the term 2005/01-2011/09. By using monthly time series, we employ granger causality tests, co-integration analysis and vector error correction model (VECM) in the research. The paper specifically aims to analyze the impacts of financial stability, financial risks, monetary policy, households' income/net wealth and housing demand to mortgage credits. We conclude based on the co-integration analysis that housing credit, interest rates, occupancy permits, real GDP per person and monetary aggregate (M2) have long term relationship with housing credits in Turkey. In the paper, we argue that the outcome has important policy implications for both Turkey and emerging economies. In this context, we underline that mortgage market policies in emerging economies should have a balanced approach between market economy and social needs. |
| Type: | paper session |
| Year of publication: | 2013 |
| Keywords: | Mortgage, Turkey, Housing finance, Housing markets, Housing |
| Series: | ERES:conference |
| Download paper: | http://library.eres.org/cgi-bin/rsa98.pl?conf=ERES2013&type=session&theme=D&slot=4712 |
| Citation: | Coskun, Yener (2013). Conditions of Mortgage Market Development in Turkey: A Critical Empirical Review. 20th Annual European Real Estate Society Conference in Vienna, Austria, http://itc.scix.net/paper/eres2013_11 |
hosted by University of Ljubljana
includes:
W78
includes:
W78
inspired by SciX, ported by Robert Klinc [2019]