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YÜKÜMLÜLÜK DOLARIZASYONU VE BILANÇO ETKISI: TÜRKIYE ÜZERINE BIR ANALIZ“

1990'li yillarin sonunda yeni gelisen ülkelerde yasanan finansal krizler literatürde önemli görüs degisiklerine neden olmustur. Bu krizlere kadar, literatürde finansal krizlerin sebeplerine makro ekonomik degiskenlere dayali açiklamalar getirilmekteydi. Ancak bu krizlerle birlikte mikro ekonomik degiskenlerin finansal kriz olusumundaki rolleri literatürde tartisma alani bulmustur. Para birimi uyumsuzlugu, ulusal para deger kaybettiginde firma bilançolarinda önemli bir risk unsuru olusturabilmekte ve yatirimlari olumsuz etkileyebilmektedir. Çalismamizda, 1998--2007 dönemi için imalat sanayi sektöründeki yükümlülük dolarizasyonunun bilanço etkisi sonuçlari, dinamik panel veri (DPD) modeliyle arastirilmistir.

Liability Dollarization and Exchange Rate Balance Sheet Effect On Turkey

Financial crises occurring in emerging markets during the late 1990’s caused significantchanges in literature. Financial crises used to be explained in terms of macroeconomicvariables until the late 1990s. Recent studies, however, consider the role of microeconomicvariables in the formation of financial crisis. In the case of real depreciation, currencymismatch that affects the balance sheet of firms negatively may lead decrease ininvestments. In this study, the results of balance sheet effect of liability dollarization inmanufacturing sector for 1998—2007 were investigated by Dynamic Panel Data (DPD) model
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