Çatalçam, Ömer Eren
Dollarization has once again come back on the agenda of the academic world due to soaring inflation globally. The policies used by central banks and financial authorities since the start of the coronavirus pandemic have accelerated inflation and increased dollarization. Therefore, analyzing the determinants of dollarization has become more important. In this study, the determinants of households’ deposit dollarization, firms’ deposit dollarization and loan dollarization are examined for the period from Q1-2003 to Q4-2021 via an Autoregressive Distributive Lag Model (ARDL) for Turkey. Exchange rate depreciation, inflation, USDTRY 3 months implied volatility, real deposit and lending rate, external debts to GDP, net exports to GDP and net international reserves to GDP are selected as the explanatory variables of the econometric models. These explanatory variables are selected as proxies of the currency substitution and asset substitution views. Estimation results indicate that implied volatility as a proxy of the currency substitution view positively affects firms’ deposit dollarization and loan dollarization, while inflation as a proxy of the currency substitution view positively affects households’ deposit dollarization. Additionally, under the asset substitution view, it is found that net international reserves which is a proxy for the institutional view is important for all types of dollarization.


Emil, Serap (null; 2018-12-03)
The concept of world-class university has taken its place in country’s agenda as a result of globalization, univer-sity rankings and internationalization with respect to shaping higher education policies. This concept has been-launched with the Research University Initiative by the Higher Education Council in Turkey in 2016. The initia-tive aimed to classify Turkish universities starting from the Research category. Considering the quantitative increase in Turkish higher education within the last 20 years, t...
Effects of Dollarization on Bank Performance: Analysis for Turkey
IŞIK, SENA; Şendeniz Yüncü, İlkay (2022-03-01)
Dollarization has significant effects on the real sector, monetary policy, and financial system. In this study, the effects of dollarization on banks’ performance in Turkey for the period of 2012-2017 are investigated by using both static and dynamic panel data analyses. Our Generalized Method of Moments (GMM) results indicate the statistical significance of the negative impact of deposit dollarization on return on assets (ROA). Both the random effects regression and GMM results show a negative and signific...
Dollarization and bank performance
Işık, Sena; Şendeniz Yüncü, İlkay; Department of Business Administration (2019)
Dollarization is an important topic in the developing economies since 1970s. It has significant effects on the real sector, public debt management, monetary policy and financial system. In addition, denomination of a big portion of the financial assets and liabilities in foreign currencies creates mismatch between the currencies of assets and liabilities held in foreign currencies and those in domestic currency. The currency mismatch causes financial fragilities and subsequent serious macroeconomic risks. T...
Efficient provision of educational service and public versus private universities: the case of Turkey
Çahan, Ercüment; Saraçoğlu, Dürdane Şirin; Department of Economics (2005)
This thesis studies the relative efficiencies of public and private universities in Turkish higher education system in producing human capital output for the economy in 1998-2002 period, by aiming at to propose a resource allocation policy for the realm of higher education to be pursued by the government. For this purpose, it develops a model which is built on the academic quality and per student expenditure variables of the public and private universities in producing human capital output, and calibrates i...
The impact of sectoral competition on inflation in Turkey
Çörüş, Sinan; Voyvoda Temizsoy, Ebru; Department of Economics (2009)
This thesis explores the impact of sectoral competition on inflation in Turkey. To this end, panel data analyses investigating the determinants of deviation of sectoral price inflation from the consumer price inflation, and the resulting effect of the changes in the level of sectoral competition on this deviation measure are conducted in both static and dynamic frameworks. The empirical analyses covers the 1995-2001 period and 62 manufacturing sectors classified according to International Standard of Indust...
Citation Formats
Ö. E. Çatalçam, “DETERMINANTS OF THE DOLLARIZATION IN TURKEY: DOES IT DIFFER FOR HOUSEHOLDS AND FIRMS?,” M.S. - Master of Science, Middle East Technical University, 2022.