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Journals / İnsan ve Toplum Bilimleri Araştırmaları Dergisi / 2016 / Cilt: 5 - Sayı: 3

J-Curve Effect on Turkey's Foreign Trade Balance

Türkiye'nin Dış Ticaret Dengesinde J-Eğrisi Etkisi

Hüseyin KARAMELIKLI
Pages
389–402
Publication Date
2022-11-05
DOI
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AI Summary & Key Takeaways

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

According to the results of the analyses based on quarterly data, there is neither cointegration among variables nor J-Curve phenomenon.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:According to J-Curve Theory, an increase in exchange rates causes a decrease in trade balance in the short run and then causes to increase in it.
📊
Key Findings & Data:Although there are a lot of studies in this subject, the asymmetrical relationships among macroeconomic variables have been mostly ignored.
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Conclusion & Impact:According to the results of the analyses based on quarterly data, there is neither cointegration among variables nor J-Curve phenomenon.
🔬Design:Modeling & Simulation
📍Scope:Comprehensive Sample
⚙️Variables:Domain Parameters

Abstract

According to J-Curve Theory, an increase in exchange rates causes a decrease in trade balance in the short run and then causes to increase in it. Although there are a lot of studies in this subject, the asymmetrical relationships among macroeconomic variables have been mostly ignored. In this study, Turkey's foreign trade balance was analyzed by the symmetric and asymmetric models. For this propose two models were constructed by using monthly and quarterly data. According to the results of the analyses based on quarterly data, there is neither cointegration among variables nor J-Curve phenomenon. But according to the results of the model which is based on monthly data, there is symmetric relationship in the short run and asymmetric relationship and cointegration in the long run. By the estimation of using both monthly and quarterly data there is no J-Curve effect. As a result, using monthly data in the estimation of shortrun phenomenon of J-Curve which is expected to exist only at short run gives more healthy results.

Özet

J-Eğrisi teorisine göre döviz kurlarında meydana gelen bir artış, kısa dönemde dış ticaret açığını arttırmakta sonrasında ise azaltmaktadır. Bu konu ile ilgili birçok çalışma yapılmış olmasına rağmen makroekonomik değişkenler arasındaki asimetrik ilişkiler çoğunlukla göz ardı edilmiştir. Bu çalışmada Türkiye'nin dış ticaret dengesi simetrik ve asimetrik modeller ile analiz edilmiştir. Bu amaçla aylık ve üçer aylık verilerin kullanıldığı iki model oluşturulmuştur. Üçer aylık verilere dayalı analiz sonucuna göre değişkenler arasında eşbütünleşme ilişkisi ve J-eğrisi varlığına rastlanmamıştır. Ancak aylık veriler ile oluşturulan model sonuçlarına göre, kısa dönemde simetrik, uzun vadede ise asimetrik bir ilişki ve eşbütünleşme mevcuttur. Hem üç aylık verilerle hem de aylık verilerle yapılan tahminlerde ise J-Eğrisi etkisi gözlemlenmemiştir. Sonuç olarak sadece kısa dönemde geçerli olması beklenilen J-eğrisi için aylık verilerin kullanılması daha sağlıklı sonuçlar ortaya koymaktadır

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Cite This Article

KARAMELIKLI, H. (2022). J-Curve Effect on Turkey's Foreign Trade Balance. İnsan ve Toplum Bilimleri Araştırmaları Dergisi, Cilt: 5 - Sayı: 3, 389–402. https://ajindex.com/articles/651980

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