The effects of capital inflows on Turkish macroeconomic performance

Creative Commons License

BERUMENT M. H., Denaux Z. S., Emirmahmutoglu F.

EMPIRICA, cilt.42, sa.4, ss.813-824, 2015 (SSCI) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 42 Sayı: 4
  • Basım Tarihi: 2015
  • Doi Numarası: 10.1007/s10663-015-9278-2
  • Dergi Adı: EMPIRICA
  • Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus
  • Sayfa Sayıları: ss.813-824
  • Anahtar Kelimeler: Capital flows, Vector autoregression model
  • Ankara Hacı Bayram Veli Üniversitesi Adresli: Hayır

Özet

Capital inflows are important factor affecting macroeconomic performance, such as the real exchange rate, interest rates, output, and price level. However, the components of capital inflows are also important. Capital inflows in the forms of portfolio investment liabilities, foreign direct investment, and other investment liabilities may affect these macroeconomic variables differently. The main focus of this study is to analyze the behavior of key macroeconomic variables in response to the different components of capital inflow shocks for Turkey using monthly data from 2000:1 to 2012:12 by utilizing a vector autoregression model.