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This paper develops a model to explain the determinants of financial dollarization. Expanding on the existing literature, our framework allows interest rate differentials to play a role in explaining financial dollarization. It also accounts for the increasing presence of foreign banks in the...
Persistent link: https://www.econbiz.de/10011604794
We analyze the effect of European Union (EU) membership on financial dollarization for the Central and Eastern European countries. Using a unique monthly dataset that spans about two decades, we find that both the accession process toward EU membership and EU entry have a direct impact on...
Persistent link: https://www.econbiz.de/10010270541
This paper discusses the role of sterilized foreign exchange (FX) interventions as a monetary policy instrument for emerging market economies in response to external shocks. We develop a model for a commodity-exporting small open economy in which FX intervention is considered as a balance sheet...
Persistent link: https://www.econbiz.de/10012658399
is estimated for the last decade. We find that ruble appreciation was the main driver of the de-dollarization that …
Persistent link: https://www.econbiz.de/10012148655
Serbia has applied inflation targeting against the backdrop of financial dollarization for almost a decade. In such circumstances, efficiency of monetary policy instruments decreases and begs the question of efficiency of the monetary regime efficiency issue. Although there is some empirical...
Persistent link: https://www.econbiz.de/10012217853
migrant concentrations, and that in Turkey, political participation is highest among the youngest voters are the novel … findings of the study. The latter finding may explain why voter turnout declines in Europe and North America but not in Turkey. …
Persistent link: https://www.econbiz.de/10011586029
This paper explores how Turkey’s politics and economy are affected by changes in global energy. To define which are the … the country. On this basis, the paper illustrates Turkey's energy matrix, an analysis that outlines the rising role of gas … for Turkey to turn gas into a geopolitical and economic asset for the country. …
Persistent link: https://www.econbiz.de/10011597545
Am letzten Sonntag fanden in der Türkei Parlamentswahlen statt, Anlass, einen genaueren Blick auf die jüngste Wirtschaftsentwicklung des Landes zu werfen. Diese ist von einem hohen Wirtschaftswachstum gekennzeichnet, allerdings getrübt durch die schweren Rezessionen der Jahre 2001 und...
Persistent link: https://www.econbiz.de/10011602363
There is now increasing recognition that the world's marine ecosystems, especially coastal areas and semi-enclosed seas, are suffering from degradation and modification due to human influences. One of the most serious problems is nutrient enrichment, which in the long term harms productivity and...
Persistent link: https://www.econbiz.de/10011608361
Agricultural production is spread all over Turkey and the considerably different climatic and topographical conditions … market all over Turkey? The authors analyze spatial price transmission among 28 Turkish provinces with regard to wheat …
Persistent link: https://www.econbiz.de/10011627537