Purpose-In the literature the effect of exchange rate volatility on various macroeconomic variables has been extensively studied but there are not enough studies about the reasons of exchange rate volatility. The aim of the research is to present the theoretical framework about the determinants of exchange rate volatility and to determine the factors affecting exchange rate volatility in Turkey for a period from 1974 to 2016. Methodology-In this research the stationary analysis of the series is determined by the Augmented Dickey Fuller Test (ADF) and the PP (Phillips-Perron test) unit root tests. In addition the GARCH model is used to calculate the real effective exchange rate volatility. The Johansen cointegration test is used to determine whether there is a long-term relationship between variables. The coefficients of the longrun relationship between the variables are estimated by the FMOLS method. Findings-The ADF and PP unit root test results show that the series are stationary at first difference. According to Johansen cointegration test results, it has been found that there is a long-run relationship between the variables involved in the analysis. Results from the FMOLS method for determining the direction and severity of the long-term relationship between the variables reveal that LGFCF, LMONEY and LTRADE positively affects significantly, while LFDI, LGDPC, LGGEXP negatively affects real effective exchange rate volatility. Conclusion-The rise in domestic investment (LGFCF), money supply (LMONEY) and trade openness (LTRADE) increases the real effective exchange rate volatility, while the rise in foreign direct investment (LFDI), output (LGDPC) and government expenditures (LGGEXP) also reduces the real effective exchange rate volatility.
This paper aims to investigate the relationship between foreign direct investment (FDI) and renewable energy production in Brazil, Russia, India, China, South Africa (BRICS) countries and Turkey. For this purpose, the annual data from 1996 to 2015 is examined using with Pedroni co-integration test and panel autoregressive distributed lag test. Test results indicate the existence of long run relationship between renewable energy production and FDIs in BRICS countries and Turkey. Policy makers should adopt appropriate incentive policies to attract FDIs into the renewable energy sector.
In this study, it is aimed to analyze the environmental impact of foreign direct investment. The theoretical and applied literature on the relationship between foreign direct investment and carbon dioxide (CO2) emissions is presented. The study examines the relationship between foreign direct investment and pollution by using Johansen Cointegration test and vector error correction model in Turkey, for 1974Turkey, for -2013
Mobilya sektörü hem Türkiye'de hem de Kayseri ilinde önemli bir yere sahiptir. Kayseri ili sektörde yarattıkları istihdam, gerçekleĢtirdikleri üretim ve ihracat ile öne çıkan birçok firmasıyla taĢıyıcı bir mobilya kenti durumundadır. Bu çalıĢmada Kayseri ilinin hem dünya hem de Türkiye'ye göre karĢılaĢtırmalı üstünlüğü ile Türkiye'nin dünyaya göre karĢılaĢtırmalı üstünlüğünü tespit etmek için 2002-2012 yılları ile sınırlandırılan çalıĢmada Balassa ve Volltrath tarafından geliĢtirilen endeksler kullanılmıĢtır. Bu çalıĢma üretim, ihracat ve istihdam bakımından ülkemizde önemli bir yeri olan Kayseri ili mobilya sektörünün Türkiye ve dünyaya göre karĢılaĢtırmalı üstünlük yapısının açıklanmıĢ karĢılaĢtırmalı üstünlük endeksi ile ortaya konması bakımından önem arz etmektedir. AçıklanmıĢ Rekabet Üstünlüğü Endeksi (RC) değerlerine göre ise Kayseri ili mobilya sektörü ihracatının Dünya ve Türkiye'ye göre açıklanmıĢ karĢılaĢtırmalı üstünlüğe sahip olmasına rağmen bu üstünlük zaman içerisinde azalma eğiliminde olmuĢtur.
Purpose-R&D activities help countries to gain competitive power and thus achieve economic growth. The purpose of this paper is to analyze the effect of R & D activities on exports for 16 OECD countries using data from the period 2000-2015. Methodology- Pedroni (1999) and Kao (1999) panel cointegration tests were used to test whether there is a long-term relationship between variables. In order to be able to do the cointegration analysis, the stationary of the variables considered should be determined. The unit root examination is conducted using four unit root tests; namely, the Levin, Li and Chu; Im, Pesaran and Shin W-stat; Fisher-ADF and Fisher-PP. Panel FMOLS and DOLS estimators were used to obtain long run coefficients after the cointegration relation was detected. Findings-As a result of Pedroni and Kao cointegration test, it has been found that there is a long term relationship between R & D expenditures and exports. Both Panel FMOLS and Panel DOLS test results show that the sign of R & D expenditures is positively and statistically significant. According to the Panel FMOLS test results, a 1% increase in R & D expenditures leads to a 0.45% increase in exports. Similarly, according to Panel DOLS test results, 1% increase in R & D expenditures increases exports by 0.43%. Conclusion-The results showed that the effect of R & D expenditures on exports is positive. Results obtained in the study are consistent with existing findings in the literature.
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