Please use this identifier to cite or link to this item: https://hdl.handle.net/11499/7959
Title: Exchange rate volatility and Turkish industry-level export: Panel cointegration analysis
Authors: Nazlıoğlu, Şaban
Keywords: exchange rate volatility
industry-level export
panel cointegration
Turkey
cointegration analysis
exchange rate
export
international trade
panel data
Abstract: The purpose of this article is to investigate the impact of the exchange rate volatility on Turkey's export. To this end, the panel cointegration analysis is applied to the data from Turkey's top 20 export industries to major 20 trading partners for the period 1980-2009. Special attention is paid to test for whether employment of country-level trade data instead of industry-level data is subject to the aggregation bias problem in the estimation of long-run cointegration parameters. The results indicate that employing country-level trade data suffers from the aggregation bias in estimating the cointegration parameters for the level of exchange rate and for the exchange rate volatility. The findings imply that (i) the impact of the exchange rate volatility on Turkish exports differs across industries, (ii) Turkey benefits from the depreciation of Turkish lira, and(iii) the foreign income plays a key role in determining the Turkish industry-level exports. The findings increase our insights to explain therecent dynamics of Turkish exports and provide some policy implications. © 2013 Copyright Taylor and Francis Group, LLC.
URI: https://hdl.handle.net/11499/7959
https://doi.org/10.1080/09638199.2012.660978
ISSN: 0963-8199
Appears in Collections:İktisadi ve İdari Bilimler Fakültesi Koleksiyonu
Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection
WoS İndeksli Yayınlar Koleksiyonu / WoS Indexed Publications Collection

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