ANALYSIS OF THE TRANSMISSION ASYMMETRY OF MONETARY POLICY IN A DUAL BANKING SYSTEM: ECONOMETRIC MODELLING (CASE OF TURKEY)
The purpose of this research is to analyze the transmission mechanism of monetary policy in a dual banking system, composed of both Islamic banks and Conventional banks, highlighting the factors that may influence behavior of Banks on the impact of monetary stimuli on their rates. In this context, an econometric model that examines the effectiveness of transmission of monetary policy in a dual banking system by advocating the hypothesis of asymmetric transmission of monetary policy was developed and tested. To answer the research problem, the adopted methodology is based on the Vectoriel Autoregressive (VAR) model, which is not only explanatory but also predictive.
The different results obtained through the empirical investigation carried out are discussed by exposing their methodological and theoretical implications.
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