International Finance

Permanent URI for this collectionhttps://hdl.handle.net/10679/314

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    An approximation of stochastic telegraph equations
    (AIP Publishing, 2012) Ashyralyev, A.; Akat, Muzaffer; International Finance; AKAT, Muzaffer
    In the present paper the two-step difference scheme for the telegraph equation is presented. The convergence estimate for the solution of the difference scheme is established. In applications, the convergence estimates for the solution of difference scheme for the numerical solution of two problems for hyperbolic equations are obtained. The theoretical statements for the solution of this difference scheme are supported by the results of the numerical experiment.
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    Construction, real estate mortgage market development and economic growth in Turkey
    (2016) Erol, Işıl; International Finance; Abdulai, R. T.; Obeng-Odoom, F.; Ochieng, E.; Maliene, V.; EROL, Işıl
    In line with the "economic sectors" definition of the Turkish Statistical Institute (2013), it is possible to define the overall real estate (RE) sectors in terms of two main components, the construction industry and other RE business activities.
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    An explainable credit scoring framework: A use case of addressing challenges in applied machine learning
    (IEEE, 2022) Güntay, Levent; Bozan, E.; Tigrak, U.; Durdu, T.; Ozkahya, G. E.; International Finance; GÜNTAY, Levent
    While Machine Learning (ML) classification algorithms can accurately classify a borrower's credit risk, the determinants of the credit score cannot be interpreted clearly by customers, decision makers and auditors. The lack of transparency of black-box credit scoring mechanisms reduces the trust in the banking system and has serious implications for the financing and growth of businesses. Recent regulations in the European Union and the United States require that credit decision mechanism should by explainable and transparent. We present a framework for developing an explainable credit scoring model. Our scientific novelty is to follow a simple and parsimonious Surrogate approach for credit scoring. This approach estimates an explainable white-box model that effectively fits to the in-sample forecasts of the most accurate 'black-box' model. We implement the Surrogate credit risk framework using check transactions data provided by a Turkish bank. We find that the Surrogate tree's performance is sufficiently close to performance of the most accurate black-box XGBoost model. Overall, our findings show that it is possible to develop a high-performing explainable credit scoring model with a minimal decrease in model accuracy.
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    Global trends in liquidity creation: The role of the off-balance sheet
    (Peter Lang AG, 2019-03-28) Akın, Özlem; Özsoy, Satı Mehmet; Economics; International Finance; PARLAYAN, Özlem Akın; ÖZSOY, Satı Mehmet
    Banks create liquidity by transforming liquid liabilities into illiquid assets and this is one of their main functions. Yet excessive liquidity creation, especially via off-balance sheet activities, might have contributed to the 2008-2009 financial crisis. In this chapter, we analyze the dynamics of liquidity creation in Turkey and the United States, and the contribution of off-balance sheet activities therein.