Policy measures on try offshore swap markets and their effects on foreign exchange trade volume
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Abstract (EN)
FX markets are of great importance for economies. Because FX market deepening is an indicator of financial development as well as an indicator of openness of an economy. Also FX market affects production and unemployment, inflation and international capital flows through the real effective exchange rate, import, commodity costs, risk and asset gains. In this respect, The Banking Regulation and Supervision Agency (BRSA) started to establish measures for offshore swap markets in response to the upward volatility in the USDTRY exchange rate. This thesis examines the effects of such measures on the FX trade volume by using the GARCH model. The results show that these measures have a limited yet significant effect on the spot, forward and swap FX trade volume. The results also suggest that while restrictive measures have a negative effect on FX trade volume, bending measures have a positive effect.
Author
Kenan Pelvan
Institution
How to Cite
Kenan Pelvan (Master Thesis). Policy measures on try offshore swap markets and their effects on foreign exchange trade volume, 2022, TED University.
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