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

Author

Listed:
  • Yücel Ayrıçay

    (Kahramanmaraş Sütçü İmam University)

  • Meltem Kılıç

    (Kahramanmaraş Sütçü İmam University)

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.

Suggested Citation

  • Yücel Ayrıçay & Meltem Kılıç, 2021. "The Sector Balance Sheet and Macroeconomic Indicators Influence on Liability Dolarization in Turkey," Journal of Finance Letters (Maliye ve Finans Yazıları), Maliye ve Finans Yazıları Yayıncılık Ltd. Şti., vol. 36(Special2), pages 97-112, January.
    • Handle: RePEc:acc:malfin:v:36:y:2021:i:special2:p:97-112
    DOI: https://doi.org/10.33203/mfy.843723
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    More about this item

    Keywords

    Liability dollarization; Macroeconomic indicators; Panel data analysis.;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • G1 - Financial Economics - - General Financial Markets
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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