Determinants of Dollarization in Turkey

Dollarization Traps *

The paper analyzes dollarization in the sense of asset substitution, where a foreign currency competes with local assets, especially domestic capital, as a store of value, the impact of dollarization on capital accumulation and output, and why economies remain dollarized long after a successful inflation stabilization. We relate this dollarization hysteresis to a financial intermediation failur...

Dollarization and Macroeconomic Stability in Latin America

This paper examines if dollarization has had a positive impact on the macroeconomic stability of Latin American countries. Dollarization refers to either the official or unofficial replacement of local currencies with the U.S. dollar. Currently four Latin American countries are officially dollarized and the rest experience varying levels of unofficial dollarization. Data from the World Bank Wor...

An Econometric Analysis of Determinants for Tourism Demand in Turkey

The aim of this paper is to empirically investigate the determinants of tourism demand by utilizing panel data for the period of 1995-2011 from top 20 countries sending tourists to Turkey. Econometric results obtained from panel cointegration analysis show that macroeconomic factors as such income, prices, supply capacity, exchange rate and political stability play a significant role in determi...

Macrolide resistance determinants in erythromycin-resistant Streptococcus pneumoniae in Turkey.

To determine the major molecular mechanisms of macrolide resistance among Streptococcus pneumoniae isolates in Turkey, we examined a total of 151 isolates collected from different regions of Turkey. Overall, 40 (26.4%) isolates were resistant to erythromycin. The most common mechanism (38/40) was target site modification due to erm (B) genes. Only two isolates harbored the mef (A)/(E) efflux ge...

Dollarization: Myths and Realities