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Journals / Sosyoekonomi / 2018 / Cilt: 26 - Sayı: 37

The Effects of Market Structure on Uncertainty-Investment Relationship: Evidence from Turkish Manufacturing Industry

Piyasa Yapısının Belirsizlik-Yatırım İlişkisi Üzerindeki Etkileri: Türk İmalatSanayiinden Bulgular

Aytekin GÜVEN
Arzu AKKOYUNLU-WIGLEY
Pages
185–200
Publication Date
2018-07-31
DOI
—
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

Our estimation results show that uncertainty has a reductive effect on investment and that that effect becomes significantly stronger under imperfect competition conditions.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The broad aim of this study is to examine the impact of uncertainty on investment in Turkey.
📊
Key Findings & Data:Our particular aim is to test Caballero’s (1991) theoretical claim that the negative relationship between investment and uncertainty is more pronounced in imperfectly competitive industries.
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Conclusion & Impact:Our estimation results show that uncertainty has a reductive effect on investment and that that effect becomes significantly stronger under imperfect competition conditions.
🔬Design:Research Article
📍Scope:2001 Verileri
⚙️Variables:Belirsizlik · Yatırım · Piyasa Yapısı

Abstract

The broad aim of this study is to examine the impact of uncertainty on investment in Turkey. Our particular aim is to test Caballero’s (1991) theoretical claim that the negative relationship between investment and uncertainty is more pronounced in imperfectly competitive industries. With that aim in mind a panel of Turkish manufacturing industries for the years 1992-2001 is used to examine the effect of market structure on the investment-uncertainty relationship. Our estimation results show that uncertainty has a reductive effect on investment and that that effect becomes significantly stronger under imperfect competition conditions.

Özet

Bu çalışmanın genel amacı belirsizliğin yatırımlar üzerindeki etkilerini Türkiye için incelemektir. Özel amacımız ise Caballero (1991)’nun belirsizlik ile yatırım arasındaki negatif ilişkinin eksik rekabet koşullarında daha belirgin olacağı iddiasını test etmektir. Bu amaç doğrultusunda, belirsizlik-yatırım ilişkisinde piyasa yapısının etkisini inceleyebilmek için 1992-2001 dönemine ait Türk imalat sanayiinden elde edilen panel veriler kullanılmıştır. Sonuçlarımız belirsizliğin yatırımlar üzerinde azaltıcı etkisinin olduğunu ve bu azaltıcı etkinin eksik rakebet koşulları altında daha güçlü olduğunu göstermektedir.

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Cite This Article

GÜVEN, A., AKKOYUNLU-WIGLEY, A. (2018). The Effects of Market Structure on Uncertainty-Investment Relationship: Evidence from Turkish Manufacturing Industry. Sosyoekonomi, Cilt: 26 - Sayı: 37, 185–200. https://ajindex.com/articles/139632

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