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Determinants of Saving-Borrowing Decisions and Financial Inclusion in a High Middle Income Country: The Turkish Case
Authors:Nurhan Davutyan  Belma Öztürkkal
Institution:1. Department of International Trade &2. Finance, Kadir Has University, Istanbul, Turkey
Abstract:We use a representative survey of the Turkish household sector and investigate factors impinging on saving-borrowing behavior. We run four probit regressions to elucidate (i) the saving decision, (ii) asset choice or portfolio composition for those who save, (iii) the bank loan decision and lastly (iv) the formal versus informal borrowing decision. We find income, education, marital status and region within country strongly correlate with those decisions. We offer some insights regarding the influence of variables like rural to urban migrant status and religious belief on saving and borrowing decisions. We discuss the long-term implications of our findings on the Turkish household savings performance.
Keywords:Financial inclusion  household finance  human resources
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