EFFECTS OF DOLLARIZATION ON BANK PERFORMANCE: ANALYSIS FOR TURKEY

Öz

Dollarization has significant effects on the real sector, monetary policy, and financial system. In this study, the effects of dollarization on banks’ performance in Turkey for the period of 2012-2017 are investigated by using both static and dynamic panel data analyses. Our Generalized Method of Moments (GMM) results indicate the statistical significance of the negative impact of deposit dollarization on return on assets (ROA). Both the random effects regression and GMM results show a negative and significant effect of deposit dollarization on return on equity (ROE). On the credit dollarization side, while random effects regression results indicate a negative and significant impact of credit dollarization on ROA and one-step system GMM results indicate the negative effect of credit dollarization on ROE, the rest of our estimations do not show any significant effect of credit dollarization on bank performance.

Anahtar Kelimeler

• Dollarization
• bank performance
• banking sector

DOLARİZASYONUN BANKA PERFORMANSI ÜZERİNE ETKİLERİ: TÜRKİYE ANALİZİ

Öz

Dolarizasyonun reel sektör, para politikası ve finansal sistem üzerinde önemli etkileri bulunmaktadır. Bu çalışmada, 2012-2017 döneminde dolarizasyonun Türkiye’deki bankaların performansları üzerindeki etkisi hem statik hem de dinamik panel veri analizi yöntemleri ile araştırılmıştır. Genelleştirilmiş Momentler Metodu (GMM) sonuçlarımız, mevduat dolarizasyonunun aktif karlılığı üzerindeki olumsuz etkisinin istatistiksel olarak anlamlı olduğunu göstermektedir. Hem rastgele etkiler modeli, hem de GMM sonuçları mevduat dolarizasyonunun özkaynak karlılığı üzerinde negatif ve istatistiksel olarak anlamlı bir etkisi olduğunu göstermektedir. Kredi dolarizasyonu açısından ise, rastgele etkiler modeli sonuçları kredi dolarizasyonunun aktif karlılığı üzerinde negatif ve istatiksel olarak anlamlı bir etkisi olduğunu ve tek aşamalı sistem GMM sonuçları kredi dolarizasyonunun özkaynak karlılığı üzerinde negatif bir etkisi olduğunu göstermekte iken, diğer sonuçlarımız kredi dolarizasyonunun banka performansı üzerinde istatiksel olarak anlamlı bir etkisi bulunmadığını göstermektedir.

Anahtar Kelimeler

• Dolarizasyon
• banka performansı
• bankacılık sektörü

Kaynakça

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