Türki̇ye’de Kur Reji̇mleri̇ Ve Ekonomi̇k Büyüme İli̇şki̇si̇: Kalman Fi̇ltresi̇ İle Bi̇r Uygulama

Abstract

In parallel with the impact of globalization on the real and financial sectors, both product supply chains and financial markets are rapidly integrated across the world. With this integration, the exchange rate becomes even more important for all countries in the context of international trade and portfolio investments. Since the end of the 1970s, most of the countries have left the fixed exchange rate regimes and began to use flexible exchange rate regimes. In this study, our aim is to investigate the relationship between exchange rate regimes and economic growth for the 1960 -2019 period, through a model for Turkey. In the model Kalman filter is applied and the path of the time varying coefficients are observed. In the study, the time varying values of the coefficients point to the results that fixed and managed exchange rate regimes do not have a significant effect on economic growth, while flexible exchange rate regimes affect economic growth negatively.