Özcan, Rasim
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Araştırma projeleri
Organizasyon Birimleri
Yönetim Bilimleri Fakültesi, İktisat Bölümü
İktisat Bölümü, başta Türkiye ve çevre ülkeler olmak üzere küresel ekonomileri anlayan, var olan sorunları analiz ederken, iktisadi kuramları ve kavramları yetkin ve özgün bir şekilde kullanma becerisine sahip bireyler yetiştirmeyi amaçlamaktadır.
Adı Soyadı
Rasim Özcan
İlgi Alanları
Ekonomi, Finansal piyasalar, Manipülasyon ve Düzenleme, Blockchain Kripto Para Birim
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Pasif Personel
2 sonuçlar
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Listeleniyor 1 - 2 / 2
Yayın Monetary policy and nonperforming loan ratios in a monetary union; a counterfactual study(Emerald Publishing, 2023) Özcan, Rasim; Khan, Asad ul Islam; Napari, Ayuba; Yönetim Bilimleri Fakültesi, İktisat BölümüPurpose – For close to two decades, the West African Monetary Zone (WAMZ) has been preparing to launch a second monetary union within the ECOWAS region. This study aims to determine the impact such a unionised monetary regime will have on financial stability as represented by the nonperforming loan ratios of Ghana in a counterfactual framework. Design/methodology/approach – This study models nonperforming loan ratios as dependent on the monetary policy rate and the business cycle. The study then used historical data to estimate the parameters of the nonperforming loan ratio response function using an Autoregressive Distributed Lag (ARDL) approach. The estimated parameters are further used to estimate the impact of several counterfactual unionised monetary policy rates on the nonperforming loan ratios and its volatility of Ghana. As robustness check, the Least Absolute Shrinkage Selection Operator (LASSO) regression is also used to estimate the nonperforming loan ratios response function and to predict nonperforming loans under the counterfactual unionised monetary policy rates. Findings – The results of the counterfactual study reveals that the apparent cost of monetary unification is much less than supposed with a monetary union likely to dampen volatility in non-performing loans in Ghana. As such, the WAMZ members should increase the pace towards monetary unification. Originality/value – The paper contributes to the existing literature by explicitly modelling nonperforming loan ratios as dependent on monetary policy and the business cycle. The study also settles the debate on the financial stability cost of a monetary union due to the nonalignment of business cycles and economic structures.Yayın Choosing solitude in turmoil, herding in the decentralized finance (DeFi) token market: An international perspective(Korea Distribution Science Assoc, 2022) Khan, Asad ul Islam; Özcan, Rasim; Turgut, Murat; Napari, Ayuba; Yönetim Bilimleri Fakültesi, İktisat BölümüFinancial markets have long been known to be prone to behavioral biases. One such behavioural bias that is consequential yet pervasive in financial markets is the herd effect. The objective of this study is to determine whether or not there exist herd behaviour in the new and bourgeoning Decentralized Finance (DeFi) Tokens market. This is accomplished by using daily returns of 22 DeFi tokens from January 29, 2017 to August 19, 2021, and the Cross-sectional Absolute Deviation (CSAD) of market returns to capture herd behavior. The results fail to provide any evidence of herding in the DeFi token market on bullish days, that is days for which the average market returns is positive. For bearish days however, that is days for which the market returns is negative, our empirical findings point to the presence of adverse herding in the DeFi token market. This phenomenon can be explained to some extent by the investor composition of the DeFi market. The DeFi token space is a growth market dominated by experts and/or enthusiasts who are insulated against the temptation and panic of negative market swings by the level of market and technical information they possess on the assets they invest.
