Cointegration techniques are also employed to empirically analyze the trade relationship between the two sides from 1994 to 2020.
📌 3 Key Takeaways
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Objective & Hypothesis:This analysis examines the economic relationship between Türkiye and the GCC countries, focusing notably on the economic and trade ties.
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Key Findings & Data:It argues that while mutual relations have increased during the AK Party era, historical commercial relations have been subject to fluctuations due to regional and foreign policy preferences.
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Conclusion & Impact:Cointegration techniques are also employed to empirically analyze the trade relationship between the two sides from 1994 to 2020.
🔬Design:Araştırma Makalesi
📍Scope:2020 Verileri
⚙️Variables:تركيا · مجلس التعاون الخليجي · الترابط الاقتصادي
Abstract
This analysis examines the economic relationship between Türkiye and the GCC countries, focusing notably on the economic and trade ties. It argues that while mutual relations have increased during the AK Party era, historical commercial relations have been subject to fluctuations due to regional and foreign policy preferences. Descriptive analysis using secondary data supports this claim. Cointegration techniques are also employed to empirically analyze the trade relationship between the two sides from 1994 to 2020.
Erdal Tanas Karagöl, “The Turkish Economy During the Justice and Development Party Decade,” Insight Turkey, Vol. 15, No. 4 (October 5, 2013), pp. 115-129.
Emilie Rutledge and Efstathios Polyzos, “The Rise of GCC‐East Asian Trade: A Cointegration Approach to Analysing Trade Relationships,” The World Economy, Vol. 46, İnsel and Tekçe, “Econometric Analysis of the Bilateral Trade Flows in the Gulf Cooperation Council Countries.”
Erhan Akkaş and Süleyman Orhun Altıparmak, “The Reshaping Oil and Arms Trade between the United States and GCC: Is the Theory of Complex Interdependence Still Prevailing?” Journal of Asian and African Studies, Vol. 57, No. 7 (202), pp. 1430-1445.
Ahmed Saddam and Fatimah Kari, “Size of Economy, Cost of Transport and Their Impact on Trade in GCC Countries: Evidence from Qualitative and Quantitative Approaches,” Journal of Finance and Investment Analysis, Vol. 1, No. 3 (2012), pp. 137-169; Imran Alam and Shahid Ahmed, “Prospects of India-GCC Trade Relations: An Empirical Investigation,” Foreign Trade Review, Vol. 52, No. 2 (March 30, 207), pp. 118-129.
Sean Foley, “Turkey and the Gulf States in the Twenty-first Century,” Middle East Review of International Affairs (MERIA), Vol. 14, No. 3 (September 2010), pp. 29-37.
Hürsoy, “Turkey’s Foreign Policy and Economic Interests in the Gulf.”
Harunoğlu, “Turkey’s Intensifying Partnership with Qatar and Its Implications for Turkish-American Relations.”
When collecting secondary data, it is expected that in bilateral trade, Türkiye’s exports to GCC countries will be numerically equal to GCC countries’ imports from Türkiye, or vice versa. However, depending on the base country’s data, the figures announced by the countries may differ. Therefore, there may be discrepancies between Türkiye’s export to the GCC countries and the GCC countries’ import from Türkiye, depending on the countries used as the basis for analysis. This numerical difference arises from this reason in the following tables and figures.