Macroeconomic determinants of currency substitution in Turkey

dc.authoridTR102382en_US
dc.contributor.authorElifoğlu, Hilmi
dc.contributor.authorTaşseven, Özlem
dc.date.accessioned2016-11-25T06:12:34Z
dc.date.available2016-11-25T06:12:34Z
dc.date.issued2015-05
dc.departmentDoğuş Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, Ekonomi ve Finans Bölümüen_US
dc.descriptionTaşseven, Özlem (Dogus Author) -- Conference full title: Global Business Research Symposium, May 27-29, 2015en_US
dc.description.abstractCurrency substitution exists in a country when a more stable foreign currency exists along with a domestic currency. Currency substitution effect exists when foreign currency in persistently held by domestic residents for transaction, speculative or precautionary purposes. Holding different currencies facilitates and reduces the costs of transactions and represents possible additional returns given by the rate of appreciation of the currency. Vegh (1989) stresses the transaction motive for holding foreign currency. It is argued that people find it more convenient to use dollars in their transactions due to the change in the exchange rate. Ortiz (1983) and Ramirez–Rojaz (1985) mention the precautionary motive for holding a foreign currency. People hold dollar-denominated financial assets in order to hedge themselves from the depreciation of domestic currency, which can be seen as precautionary motive for holding foreign currency.en_US
dc.description.sponsorshipBeykent Üniversitesi -- St. John's University -- Unıversity of Economics in Katowice -- Southern New Hampshire Universityen_US
dc.identifier.citationTaşseven, Ö. ve Elifoğlu, H. (2015). Macroeconomic determinants of currency substitution in Turkey. Global Business Research Symposium May 27-29, 2015 içinde. İstanbul: Beykent Üniversitesien_US
dc.identifier.issn9781605305295
dc.identifier.urihttps://hdl.handle.net/11376/2733
dc.institutionauthorTaşseven, Özlem
dc.language.isoenen_US
dc.publisherBeykent Üniversitesien_US
dc.relation.ispartofGlobal Business Research Symposiumen_US
dc.relation.publicationcategoryKonferans Öğesi - Uluslararası - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectCurrencyen_US
dc.subjectFinancial Assetsen_US
dc.subjectDomestic Currencyen_US
dc.subjectForeign Currencyen_US
dc.titleMacroeconomic determinants of currency substitution in Turkeyen_US
dc.typeConference Objecten_US

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