Determining the Interaction of the International Portfolio Flows with Exchange Rate Volatility in Developing Countries

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dc.contributor.authorAltunöz, Utku
dc.date.accessioned2025-03-23T19:10:17Z
dc.date.available2025-03-23T19:10:17Z
dc.date.issued2020
dc.departmentSinop Üniversitesi
dc.description.abstractThe aim of this study is to examine the effect of the bond portfolio and equity inflows\ron the exchange rate dynamics for a set of developing countries, including Turkey,\rHungary, New Zealand, India, Russia, Poland, Brazil and Argentina over the period\r1997:01-2017:12 by using a Markov-switching model. According to the analysis re-\rsults, the net bond inflows lead to an increase in the likelihood of a high volatility\rregime in Turkey and Russia and increases the probability of transition from the high\rvolatility regime to the low volatility regime in Hungary. Additionally, the net bond\rinflows from New Zealand and Poland to the United States (US) rise the possibility of\rremaining in the low volatility regime. The net equity inflows from Turkey and Poland\rto the US lead to a rise in the possibility of remaining in the high volatility regime.\rBesides, the net equity inflows from Brazil and Argentina to the US lead to a decline\rin the possibility of remaining in the low volatility state. In the light of the empir-\rical results supporting the “return chasing” hypothesis, this paper argues that credit\rcontrols on short-term financial inflows could be an effective means in stabilizing the\rforeign exchange market.
dc.identifier.doi10.22440/wjae.6.1.3
dc.identifier.endpage54
dc.identifier.issn2459-0126
dc.identifier.issue1
dc.identifier.startpage41
dc.identifier.trdizinid509520
dc.identifier.urihttps://doi.org/10.22440/wjae.6.1.3
dc.identifier.urihttps://search.trdizin.gov.tr/tr/yayin/detay/509520
dc.identifier.urihttps://hdl.handle.net/11486/3582
dc.identifier.volume6
dc.indekslendigikaynakTR-Dizin
dc.institutionauthorAltunöz, Utku
dc.language.isoen
dc.relation.ispartofWorld Journal of Applied Economics
dc.relation.publicationcategoryMakale - Ulusal Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_TR_20250323
dc.subjectİktisat
dc.titleDetermining the Interaction of the International Portfolio Flows with Exchange Rate Volatility in Developing Countries
dc.typeArticle

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