The monetary approach to exchange rate determination: an empirical evidence from Turkey

Date
1993
Advisor
Taşkın, Fatma
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Publisher
Bilkent University
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Language
English
Type
Thesis
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Abstract

In this study, the determination of exchange rates in Turkey is examined by using the monetary approach to exchange rate determination. To provide a theoretical basis, the basic assumptions and the variants of the monetary approach to exchange rate determination are considered. In the empirical test of the monetary approach in Turkey, quarterly data for the observation period 1980-1992 is used. Turkey followed a more liberal exchange rate policy after 1980s. The findings o f this study show that the data does not support the monetary exchange rate determination theory in Turkey. The exchange rate, especially T.L./ U.S. doUar, has a random walk nature and a trace o f unit root

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Keywords
Exchange rates, Monetary approach, Unit roots
Citation
Published Version (Please cite this version)