SavedAdd your journal

Journals / Maliye Dergisi / 2018 / Sayı: 174

The Relationship between Trade Openness and Inflation: An Analysis for Turkey within the Frame of Romer Hypothesis

Ticari Dışa Açıklık ve Enflasyon İlişkisi: Romer Hipotezi Çerçevesinde Türkiye İçin Bir Analiz

MUSTAFA ÖZÇAĞ
MEHMET BÖLÜKBAŞ
Pages
112–130
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)

According to the results of Hatemi-J and Irandoust (2012) hidden cointegration test, a cointegration relationship between trade openness and inflation in Turkey has been proved.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The aim of the study is to investigate the relationship between trade openness and inflation in Turkey economy for the period of 1980-2015.Unlike the other studies, symmetrical and asymmetrical analyses were used to examine the relationship between variables.
📊
Key Findings & Data:The symmetric relationship between variables was analysed with Johansen cointegration and Hacker and Hatemi-J (2006) causality tests.
💡
Conclusion & Impact:According to the results of Hatemi-J and Irandoust (2012) hidden cointegration test, a cointegration relationship between trade openness and inflation in Turkey has been proved.
🔬Design:Research Article
📍Scope:2015 Verileri
⚙️Variables:Domain Parameters

Abstract

The aim of the study is to investigate the relationship between trade openness and inflation in Turkey economy for the period of 1980-2015.Unlike the other studies, symmetrical and asymmetrical analyses were used to examine the relationship between variables. The symmetric relationship between variables was analysed with Johansen cointegration and Hacker and Hatemi-J (2006) causality tests. The findings of symmetric analyses show that there is no cointegration or causality relationship. Whereas Hatemi-J and Irandoust (2012) hidden cointegration test and Hatemi-J (2012) causality tests were used for asymmetric analyses. According to the results of Hatemi-J and Irandoust (2012) hidden cointegration test, a cointegration relationship between trade openness and inflation in Turkey has been proved.

Özet

Bu çalışmanın amacı ticari dışa açıklık ve enflasyon arasındaki ilişkiyi Türkiye ekonomisi için 1980-2015 dönemini dikkate alarak araştırmaktır. Diğer çalışmalardan farklı olarak değişkenler arasındaki ilişkiyi incelemek için simetrik ve asimetrik analizler kullanılmıştır. Ticari dışa açıklık ve enflasyon arasındaki simetrik ilişki Johansen eşbütünleşme testi ve Hacker ve Hatemi-J (2006) nedensellik testi ile incelenmiş, ancak bir nedensellik ilişkisi ya da eşbütünleşme ilişkisine rastlanmadığı görülmüştür. Asimetrik ilişki için ise Hatemi-J ve Irandoust (2012) saklı eşbütünleşme testi ile Hatemi-J (2012) asimetrik nedensellik testlerinden yararlanılmıştır. Hatemi- J ve Irandoust (2012) saklı eşbütünleşme testi sonuçlarına göre; Türkiye’de ticari dışa açıklık ve enflasyon arasında bir eşbütünleşme ilişkisinin varlığı kanıtlanmıştır.

🔖

Cite This Article

ÖZÇAĞ, M., BÖLÜKBAŞ, M. (2018). The Relationship between Trade Openness and Inflation: An Analysis for Turkey within the Frame of Romer Hypothesis. Maliye Dergisi, Sayı: 174, 112–130. https://ajindex.com/articles/78841

📄 Full Text PDF Viewer

📄

PDF görüntüleyici hazırlanıyor...

References (16)

  1. Adaçay, F.R. ve Islatince, H. (2013),
  2. İktisadi Düşünceler Tarihi, Ekin Yayınevi, 3. Baskı,
  3. Bursa. Alfaro, L. (2005), “Inflation, Openness, and Exchange-Rate Regimes: The Quest For Short-Term Commitment”, Journal of Development Economics, 77(1), 229-249.
  4. Araç, A. (2013), “Ekonominin Dış Ticarete Açıklık Derecesi ve Üretim/Enflasyon Ödünleme İlişkisi”, Sosyoekonomi, (1), 26-44.
  5. Bocutoğlu, E. (2016),
  6. İktisadi Düşünceler Tarihi, Ekin Yayınevi, 3. Baskı,
  7. Bursa. Bowdler, C. ve Malik, A. (2005), “Openness and Inflation Volatility: Cross- Country Evidence”, Centre for the Study of African Economies, University of Oxford, CSAE Working Paper Series, (8). Bowdler, C. ve Nunziata, L. (2006), “Trade Openness and Inflation Episodes in the OECD”, Journal of Money, Credit and Banking, 38(2), 553-563.
  8. Daniels, J., Nourzad, F. ve VanHoose, D. (2006), “Openness, Centralized Wage Bargaining and Inflation”, European Journal of Political Economy, 22(4), 969-988.
  9. Engle, R.F. ve Granger, C.W.J. (1987), “Co-integration and Error Correction Representation, Estimation and Testing”, Econometrica, 55, 251-276.
  10. Evans, R. (2012), “Is Openness Inflationary? Policy Commitment and Imperfect Competittion”, Journal of Macroeconomics, 34(4), 1095-1110.
  11. Granato, J., Lo, M. ve Wong, M. (2007), “A Note on Romer’s Openness- Inflation Relation: The Responsiveness of AS and AD to Economic Openness and Monetary Policy”, Journal of Applied Economics, 39(2), 191-197.
  12. Granger, C.W.J. ve Yoon, G. (2002), “Hidden Cointegration”, University of California at San Diego, Economics Working Paper Series, Department of Economics, UC San Diego. Güneş, Ş. ve Konur, M. (2013), “Türkiye Ekonomisinde Dışa açıklık ve Enflasyon İlişkisi Üzerine Ampirik Bir Analiz”, Eskişehir Osmangazi Üniversitesi İİBF Dergisi, Ekim, 7-20.
  13. Hacker, R.S. ve Hatemi-J, A. (2006), “Tests for Causality between Integrated Variables Using Asymptotic and Bootstrap Distributions: Theory and Application”, Applied Economics, 38(13), 1489-1500.
  14. Hanif, M. ve Batool, I. (2006), “Openness and Inflation: A Case Study of Pakistan”, MPRA Paper, 10214. Hatemi-J, A. (2012), “Asymmetric Causality Tests with an Application”, Empirical Economics, 43(1), 447-456.
  15. Hatemi-J, A. ve Irandoust, M. (2012), Asymmetric Interaction between Government Spending and Terms of Trade Volatility New Evidence from Hidden Cointegration Technique, Journal of Economic Studies, 39(3), 368-378.
  16. Jafari S.A., Ghaderi, S. ve Sanginabadi, B. (2011), “Openness and Inflation in Iran”, M