Do domestic bond markets participation help reduce financial dollarization in developing countries?

The Long Term Impact of Deposit Dollarization on Stock Markets in Mist Economies

“…Our analysis result in line with the theory and literature. Our empirical analysis results are compatible with the studies of Jansen and Ortiz (2007), Balima (2017), Kaya and Açdoyuran (2019) and Işık and Yüncü (2022). This demonstrates the robustness of present study.…”

“…4 Data sources of all variables can be seen in Table 1. Similar to the approach taken in the works of Ben (2016), Balima (2017), and Kaya and Açdoyuran (2019), we focus on deposit dollarization as our variable of interest to evaluate its role in expressing stock market movements. In line with the literature, the Consumer Price Index (CPI) and the Industrial Production Index (IPI) have been incorporated as additional regressors in this study (Gençturk, 2009, p. 130;Özer, Kaya, & Özer, 2011, p. 175;Forson & Janrattanagul, 2017, p. 169).…”

“…Examining the studies based on dollarization reveals that there is a limited number of studies examining the effect of financial and deposit dollarization on stock market indices (some examples are, Jansen and Ortiz (2007), Ben (2016), Balima (2017), Kaya and Açdoyuran (2019)). Conversely, numerous studies have explored the connection between dollarization and exchange rates, some of them are Sever (2012), Udoh and Udeajaa (2019) while, the studies of Bahmani-Oskooee and Domaç (2003), Neanidis and Savva (2009) examine the relations between dollarization and various macroeconomic variables.…”

“…The analysis of this study reveals that dollarization has indeed had an impact on the performance of the Zimbabwe Stock Exchange. Balima (2017) examined the relationship between domestic bond market participation and financial dollarization for 114 countries between 1985 and 2009. The results indicate that engaging in the domestic bond market has a noteworthy adverse impact on financial dollarization.…”

Does Ecotourism in Nature Reserves Have an Impact on Farmers’ Income? Counterfactual Estimates Based on Propensity Score Matching

“…If the matching results are similar, then it can be concluded that the results are robust. Drawing on existing research [48][49][50], the nearest neighbor matching method (n = 4), radius matching method (r = 0.01), and kernel matching method are used to carry out matching, and the robustness of the results of PSM is tested in this paper. Since PSM cannot solve the problem of estimation bias caused by unobservable heterogeneity, the Rosenbaum boundary method will be used to inspect whether this study's results are disturbed by hidden bias [51,52].…”