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The Sector Balance Sheet and Macroeconomic Indicators Influence on Liability Dolarization in Turkey

Yücel Ayrıçay and Meltem Kılıç
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Yücel Ayrıçay: Kahramanmaraş Sütçü İmam University
Meltem Kılıç: Kahramanmaraş Sütçü İmam University

Journal of Finance Letters (Maliye ve Finans Yazıları), 2021, vol. 36, issue Special2, 97-112

Abstract: The aim of this study is to examine whether the rates and macroeconomic indicators obtained from the balance sheets of real sector explain liability dollarization. In the study, company-specific values and macroeconomic indicators obtained from the CBRT’s Sector Balance Sheets are used. Debt dollarization is calculated by the ratio of sectors’foreign currency cash loans to total cash loans. The data obtained with the values of the CBRT’s Sector Balance Sheets published between 2003-2016 were tested by panel data analysis. As a result of empirical analysis, it has been determined that firm-specific values and macroeconomic indicators explain the debt dollarization rate in real sectors.

Keywords: Liability dollarization; Macroeconomic indicators; Panel data analysis. (search for similar items in EconPapers)
JEL-codes: C23 E52 G1 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:acc:malfin:v:36:y:2021:i:special2:p:97-112

DOI: 10.33203/mfy.843723

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