SavedAdd your journal

Journals / Akdeniz İİBF Dergisi / 2013 / Cilt: 13 - Sayı: 26

Interactions of benchmark interest rate, foreign trade volume, and domestic debt stock

Gösterge faiz oranı, dış ticaret hacmi ve iç borç stok ilişkisi

M.Kenan TERZİOĞLU
Pages
55–76
Publication Date
2022-10-11
DOI
—
🏛️Bibliographic metadata and full text access for this article are provided via DergiPark.
DergiPark Record ↗
✨

AI Summary & Key Takeaways

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

This article also explains the impact of these variables on interest rates within the framework of various schools on economic thought.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:Concerns about the sustainability of public debt reduce efficiency of the transmission mechanism in emerging economies owing to high and volatile risk premiums.
📊
Key Findings & Data:Moreover, the interaction between the interest rate and foreign trade volume affects the economy, depending on the valuation of the national currency.
💡
Conclusion & Impact:This article also explains the impact of these variables on interest rates within the framework of various schools on economic thought.
🔬Design:Research Article
📍Scope:Comprehensive Sample
⚙️Variables:Domain Parameters

Abstract

Concerns about the sustainability of public debt reduce efficiency of the transmission mechanism in emerging economies owing to high and volatile risk premiums. Moreover, the interaction between the interest rate and foreign trade volume affects the economy, depending on the valuation of the national currency. This article attempts to identify the long- and short-term dynamic relationships among domestic debt stock, foreign trade volume, and benchmark interest rate in Turkey. These dynamic relationships provide information about the economic structure to market participants. This article also explains the impact of these variables on interest rates within the framework of various schools on economic thought.

Özet

Kamu borç stokunun sürdürülebilirliğiyle ilgili endişeler yüksek ve oynak risk primlerine neden olduğundan gelişmekte olan ekonomilerde aktarım mekanizmasının etkinliğini azaltmaktadır. Bununla birlikte, ulusal parada değerlenmeye bağlı olarak ekonomilerde faiz ve dış ticaret etkileşimi etkili olmaktadır. Bu makale bazı iktisat okulları çerçevesinde değişkenlerin faiz oranları üzerindeki etkisine ilişkin açıklamalara yer verdikten sonra Türkiye’de iç borç stoku, dış ticaret hacmi ve piyasa katılımcılarına ekonomik yapı hakkında bilgi sağlayan gösterge faizi arasındaki uzun ve kısa dönem dinamik ilişkileri belirlemeyi amaçlamaktadır.

🔖

Cite This Article

TERZİOĞLU, M. (2022). Interactions of benchmark interest rate, foreign trade volume, and domestic debt stock. Akdeniz İİBF Dergisi, Cilt: 13 - Sayı: 26, 55–76. https://ajindex.com/articles/433136

📄 Full Text PDF Viewer

📄

PDF görüntüleyici hazırlanıyor...

References (11)

  1. ARDAGNA, S., FRANCESCO C., and TIMOTHY L. (2004) Fiscal Discipline and the Cost of Public Debt Service: Some Estimates for OECD Countries, CEPR Discussion Papers, 4661. ARIZE, A.C., MALINDRETOS J. and KASIBHATLA K. M. (2003) Does Exchange Rate Volatility Depress Export Flows: The Case of LDCs., IAER, 9(1), 7-19.
  2. ATAÇ, E., ATAÇ, B., ÖNDER, İ. and TURHAN, S. (2006)
  3. Kamu Maliyesi, Anadolu Üniversitesi Yayınları No: 4l, Eskişehir. BAHMANI-OSKOOEE, M. (1999) Do Federal Budget Deficits Crowd Out or Crowd in Private Investment?, Journal of Policy Modeling 21(5), 633–640.
  4. BARIŞIK, S. and DEMİRCİOĞLU E. (2006) Türkiye’de Döviz Kuru Rejimi, Konvertibilite, İhracat-İthalat İlişkisi (1980-2001), ZKÜ Sosyal Bilimler Dergisi, 2(3), 71-84.
  5. BARRO, R.J. and SALA-I-MARTIN, X. (1990) World real interest rates. NBER Macroeconomics Annual, Cambridge. BERUMENT, H. and MALATYALI, K. (1999) Determinants of Interest Rates in Turkey. Discussion Papers. 9902, Central Bank of the Republic of Turkey. BLANCO, R. (2002) The Euro-Area Government Securities Markets: Recent Developments And Implications For Market Functioning. Launching Workshop of the ECBCFS Research Network on Capital Markets and Financial Integration in Europe. European Central Bank. CEBULA, J. R. (2005) Recent Empirical Evidence on the Impact of the Primary Budget Deficit on Nominal Longer Term Treasury Note Interest Rate Yields. Global Business and Economics Review, 7(1), 47–58.
  6. COHEN, D. and GARNIER, O. (1991) The impact of forecasts of budget deficits on interest rates in the United States and other G7 countries. Board of Governors of the Federal Reserve System. Mimeo COŞKUN M. and TAYLAN A. S. (2009) Döviz Kurlarındaki Değişim İhracat ve İthalat Hacmini Etkiler mi? 1999-2007
  7. Türkiye Örneği, Muhasebe ve Finansman Dergisi, 42, 157-168.
  8. DAR, A. and AMIRKHALKHALI, S. (2003) On the Impact of Trade Openness on Growth: Further Evidence from OECD Countries. Applied Economics 35(16), 1761–1766.
  9. DARRAT, F. A. (1990) Structural Federal Deficits and Interest Rates: Some Causality and Co-integration Tests. Southern Economic Journal, 56(3), 752–759.
  10. DARNELL, C. A., and EVANS J. L. (1990) The Limits of Econometrics. Aldershot: Edward Elgar. DEMEULEMEESTER, J.L. and ROCHAT D. (1995) An empirical investigation of the relationship between the exchange value of the Pound and UK trade balance. Econ. Internazionale, 48, 347-357.
  11. DICKEY, D. A. and FULLER, W. A. (1981) Likelihood Ratio Statistics for Autoregressive Time Series with a Uni