In this paper, we analyse the impact of credits provided by banks on provincial growth in Turkey, where state-owned banks have an implicit role of reducing disparity by allocating loans in underdeveloped regions that are ignored by private banks. We find a paradoxical effect of state-owned banks...

ERES:conference

This study examines the hedging behaviour of real estate investment in a high inflationary environment. The hypothesis that the real estate investment hedges both expected and unexpected inflation is tested. The returns of investment on residential apartments in several neighbourhoods in the...

The changes in the volatility and liquidity of French stocks are examined before and after their cross-listing on the German electronic market, the Xetra. The results are mixed in terms of the change in liquidity and volatility of stocks after cross-listing. It is found that for many stocks...

This paper examines the bid-ask spread and its determinants in the Istanbul Stock Exchange (ISE). The sample of 198 stocks is analysed for a period from June 1996 to May 1997. The proportional spread is found to be an important part of the transaction costs compared to the brokerage fees in...

Ozyıldırım S. and Onder Z. Banking activities and local output growth: does distance from centre matter? Regional Studies. In this paper the relation between local banking activities and local output growth is empirically studied in Turkey during the period 1991-2000. Although there is no...

Tenure choice has been one of the most studied concepts in the housing literature (for example, Rosen, 1979; King, 1980; Fallis, 1983; Henderson and Ioannides, 1983; Fu, 1991). In the econometric studies, tenure choice and mobility decisions are considered to be related (for example, Boehm, 1981; Ioannides, 1987;...

Real estate, especially housing, has an important share in the nationís wealth. For example, real estate constitutes 48.8% of total wealth in the world in 1991. Moreover, housing construction and its financing are two important factors that affect economic development in developed and...