Fragility or habitualized corporate behavior? Corporate and macroeconomic determinants of debt dollarization: Evidence from Turkey

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dc.contributor.authorDoruk, Omer Tugsal
dc.date.accessioned2025-01-06T17:37:23Z
dc.date.available2025-01-06T17:37:23Z
dc.date.issued2024
dc.description.abstractThis study examines the firm-level and macroeconomic-level determinants of debt dollarization, which is a critical vulnerability for a key emerging market: Turkey. The study examines the firm-level and macroeconomic determinants of debt dollarization between 2005 and 2017 using the generalized method of moments and the panel vector autoregressive method, both of which are highly innovative. The results show that manufacturing firms tend to dollarize debt, while macroeconomic variables such as the real exchange rate, inflation, and credit expansion significantly affect debt dollarization. Moreover, debt dollarization was found to be a habit of manufacturing firms in the Turkish economy.
dc.description.sponsorshipAdana Alparslan Trkescedil; Science and Technology University Scientific Research Projects (BAP) Unit; Adana Alparslan Turkes Science and Technology University Scientific Research Projects (BAP) Unit [20113003]; Adana Alparslan Turkes Bilim ve Teknoloji UEniversitesi
dc.description.sponsorshipAdana Alparslan Turkes Science and Technology University Scientific Research Projects (BAP) Unit, Grant/Award Number: 20113003; Adana Alparslan Turkes Bilim ve Teknoloji UEniversitesi.
dc.identifier.doi10.1002/jcaf.22691
dc.identifier.endpage356
dc.identifier.issn1044-8136
dc.identifier.issn1097-0053
dc.identifier.issue2
dc.identifier.startpage346
dc.identifier.urihttps://doi.org/10.1002/jcaf.22691
dc.identifier.urihttps://hdl.handle.net/20.500.14669/2213
dc.identifier.volume35
dc.identifier.wosWOS:001147320800001
dc.identifier.wosqualityN/A
dc.indekslendigikaynakWeb of Science
dc.language.isoen
dc.publisherWiley Periodicals, Inc
dc.relation.ispartofJournal of Corporate Accounting and Finance
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.snmzKA_20241211
dc.subjectdebt dollarization
dc.subjectGMM
dc.subjectpanel VAR
dc.subjectTurkish manufacturing sector
dc.titleFragility or habitualized corporate behavior? Corporate and macroeconomic determinants of debt dollarization: Evidence from Turkey
dc.typeArticle

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