Publication: Rusya finansal piyasalarında serbestleşme ve derinleşme, bankacılık sektörünün rolü
Abstract
Küreselleşme ile gelişen ülke ekonomileri kültürel ve ekonomik olarak bir çatı altında bütünleşmişlerdir. Bu koalisyon daha çok ekonomik iş birliği içerisinde gelişmektedir. Etkileşim ticaretin gelişmesiyle ticari liberalizasyon sürecini başlatmıştır. Daha sonralar finansal fonların fon fazlası bulunan ülkelerden fon ihtiyacı olan ülkelere serbestçe akması finansal serbestleşmeyi zorunlu kılmıştır. Finansal serbestleşme süreci finansal fonların, finansal araçların, aracı kurumların bir bütün şeklinde mali piyasalarda aktif rol almasına ve finansal derinleşme boyutunun oluşmasına sebep olmuştur. Bu anlamda finansal derinleşme olgusu piyasaların ve bankaların gelişmişlik düzeyi ile doğru orantılıdır. Her ülkenin mali piyasa işleyişinin sağlıklı olması bu teze bağlı tutulmakta ve reel sektörün gelişmesindeki başarısıyla ölçülmektedir. Bu tez çalışmasında, özellikle finansal serbestleşme ve derinleşme tezi içerisinde gelişen Rusya piyasalarının ve bankalarının özellikleri ele alınmıştır. Çalışmanın teorik kısmında önce konu ile tanımlara, teorik yaklaşımlara ve neden önemli olduğuna yer verilmiştir. Daha sonra Dünya’daki ve Rusya’daki finansal serbestleşme önemli ölçüde anlatılmıştır. Serbestleşme sürecinde oluşan Dünya Bankası, İMF, Dünya Ticaret Örgütü, İOSCO vb. kurumların anlatımına yer verilmiştir. Tezin son bölümünde, Rusya ekonomisi özellikle Sovyet’ler sonrası dönemde ele alınmıştır. Yapılan ampirik çalışmayla bu süreç içerisinde bankaların finansal serbestleşme sonucu hangi ölçüde finansal derinleşmeyi sağladığı sonuçlarına varılmıştır. 1995-2008 yılları arasında bankaların bir çok makro göstergeleri ele alınarak yapılan çalışmada, Rusya’da finansal derinleşmenin boyutları ortaya konulmuştur. cari Liberalizasyon, Finansal Liberalizasyon, Finansal Derinleşme
The economies developing with the globalization are becoming a united whole in economic and cultural means. This process esentially happens by economic cooperation. Interaction had started the trade liberilazation with the development of the trade. Afterwards financial liberalization became absolutaly necessary when the capital started to flow from the states which have extras from financial funds to the states which needed same funds. The financial liberalization process caused the financial funds, financial instruments and intermediary foundations to have an active role in the financial markets as united whole and caused the formation of financial deepining dimension. In this sense financial deepining is proportional with the development level of the banks. The healthy growth of the financial markets of each country is connected with this case and is measured with the success of the real sector of that country. In this study characteristics of the Russians markets and banks were examined with the aspect of financial deepening and liberalization. The theoric part of the research analyzes the main definitions and theoric approaches and their importances. Afterwards the study explores the global and Russian financial deepening. The research argues that the Russian fınancial deepenıng was acheived but in comparıson wıth the developed western countrıes it was weak Also in the thesys the institutions founded in the process of liberalization process like the World Bank, IMF, WTO, IOSCO and etc. were examined. The final chapter of the thesys aims to analize the Russian economy and especialy the post-Soviet period. With the ampiric researches the deepining level of the Russian banks in the process of financial deepening was found. Finally the study puts forth the extent of Russian financal deepening using the macro datas of Russian Federation between 1995-2008. KEY WORDS: Trade Liberalization, Financial Liberalization , Financial Deepening
The economies developing with the globalization are becoming a united whole in economic and cultural means. This process esentially happens by economic cooperation. Interaction had started the trade liberilazation with the development of the trade. Afterwards financial liberalization became absolutaly necessary when the capital started to flow from the states which have extras from financial funds to the states which needed same funds. The financial liberalization process caused the financial funds, financial instruments and intermediary foundations to have an active role in the financial markets as united whole and caused the formation of financial deepining dimension. In this sense financial deepining is proportional with the development level of the banks. The healthy growth of the financial markets of each country is connected with this case and is measured with the success of the real sector of that country. In this study characteristics of the Russians markets and banks were examined with the aspect of financial deepening and liberalization. The theoric part of the research analyzes the main definitions and theoric approaches and their importances. Afterwards the study explores the global and Russian financial deepening. The research argues that the Russian fınancial deepenıng was acheived but in comparıson wıth the developed western countrıes it was weak Also in the thesys the institutions founded in the process of liberalization process like the World Bank, IMF, WTO, IOSCO and etc. were examined. The final chapter of the thesys aims to analize the Russian economy and especialy the post-Soviet period. With the ampiric researches the deepining level of the Russian banks in the process of financial deepening was found. Finally the study puts forth the extent of Russian financal deepening using the macro datas of Russian Federation between 1995-2008. KEY WORDS: Trade Liberalization, Financial Liberalization , Financial Deepening