Dolarizasyon Endeksleri: Turkiye�deki Dolarizasyon Surecine Iliskin Gostergeler

Ozge Akinci, Yasemin Barlas and Bulent Usta

Working Papers from Research and Monetary Policy Department, Central Bank of the Republic of Turkey

Abstract: Dollarization, which can be considered as a wide-spread characteristic of the emerging market economies, is caused by economic units� holding assets in foreign currency to prevent the value of their financial assets from the risk of devaluation of the national currency and to diversify their portfolio when the asset side of the balance sheets is considered. On the other hand, when the liability side of the balance sheets are considered, firms�, households� and the government�s borrowing in foreign currency both from domestic and foreign sources causes dollarization. This paper constructs asset, liability and composite dollarization indices as indicators of the lasting dollarization process in Turkey, proposing measures for the degree of dollarization of the Turkish economy. All indices justify the success of the stabilization program that has been conducted since 2002, in reversing the dollarization trend.

Keywords: composite dollarization index; asset dollarization; liability dollarization (search for similar items in EconPapers)
JEL-codes: C43 E42 G11 (search for similar items in EconPapers)
Date: 2005
New Economics Papers: this item is included in nep-cwa and nep-fmk
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:tcb:wpaper:0517

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