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dc.contributor.authorToraganlı, Nazlı
dc.contributor.authorYazgan, Mustafa Ege
dc.date.accessioned2019-02-16T22:18:19Z
dc.date.available2019-02-16T22:18:19Z
dc.date.issued2016-05-24
dc.identifier.citationToraganlı, N., & Yazgan, M. E. (May 24, 2016). Exchange rates and firm survival: An examination with Turkish firm-level data. Economic Systems, 40, 3, 433-443.en_US
dc.identifier.issn0939-3625
dc.identifier.issn(e) 1878-5433
dc.identifier.otherWOS:000382804700008
dc.identifier.urihttps://doi.org/10.1016/j.ecosys.2015.09.009
dc.identifier.urihttp://hdl.handle.net/20.500.11779/319
dc.description.abstractMicro-level empirical research has begun to obtain important results on the effects of currency variations on firms’ survival. The literature has, however, lacked a detailed analysis of the effects of exchange rates on firms’ survival behavior in emerging markets due to a scarcity of firm-level information. Using a firm-level dataset, we investigate the impact of currency appreciation on the survival behavior of Turkish firms in the manufacturing industries for 2002–2009. Our results suggest that real exchange rate appreciation decreases the probability of survival in the manufacturing industries. We also find that high-productivity firms have a higher probability of survival than low- productivity firms following an appreciation of the exchange rate. Our findings indicate that the negative effect of a 1% real appreciation of the domestic currency on the survival probability of a given firm ranges from 4.5 to 9%, providing evidence for the vulnerability of developing countries to exchange rate movements. This evidence indicates that, especially for emerging market economies, economic events and policies leading to an appreciation in the domestic currency should be managed cautiously.en_US
dc.language.isoengen_US
dc.publisherElsevieren_US
dc.relation.isversionof10.1016/j.ecosys.2015.09.009en_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectExchange rateen_US
dc.subjectFirm-levelen_US
dc.subjectExporten_US
dc.subjectEmerging marketsen_US
dc.subjectSurvivalen_US
dc.titleExchange rates and firm survival: an examination with Turkish firm-level dataen_US
dc.typearticleen_US
dc.relation.journalEconomic Systemsen_US
dc.contributor.departmentMEF Üniversitesi, İİSBF, Ekonomi Bölümüen_US
dc.identifier.volume40en_US
dc.identifier.issue3en_US
dc.identifier.startpage433en_US
dc.identifier.endpage443en_US
dc.relation.publicationcategoryUluslararası Yayınen_US


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