Estimation of disaggregated import demand functions for Turkey
This study attempts to estimate disaggregated import demand functions for Turkey, for the period from 1989 to 2012 in quarterly data set. In this context, we examine short-run and long-run disaggregated import demand functions for capital goods, intermediate inputs and consumption goods by using Autoregressive Distributed Lag model and Dynamic Ordinary Least Squares. Besides gross domestic product (GDP) and real effective exchange rates; the impacts of seasonality, time trend, the periods of floating exchange regime, and the great global recession are also taken into account in the estimations. The empirical findings indicate that possible deprecation of the Turkish Lira has limited effects on all disaggregated import goods. GDP, as the main determinant of disaggregated import demand, has the biggest impact on capital goods in the short-run and on consumption goods in the long-run. We also check the robustness of our findings by using some proxy variables, such as gross fixed capital formation, exports and domestic credits, and find more or less similar results.
Volume (Year): 33 (2013)
Issue (Month): 1 ()
|Contact details of provider:|| |
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Abdelhak Senhadji, 1998. "Time-Series Estimation of Structural Import Demand Equations: A Cross-Country Analysis," IMF Staff Papers, Palgrave Macmillan, vol. 45(2), pages 236-268, June.
- Fukumoto, Mayumi, 2012. "Estimation of China's disaggregate import demand functions," China Economic Review, Elsevier, vol. 23(2), pages 434-444.
- Altan Aldan & Ihsan Bozok & Mahmut Gunay, 2012. "Short Run Import Dynamics in Turkey," Working Papers 1225, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
- Cheung, Yin-Wong & Chinn, Menzie D. & Qian, XingWang, 2012.
"Are Chinese trade flows different?,"
Journal of International Money and Finance,
Elsevier, vol. 31(8), pages 2127-2146.
- Yin-Wong Cheung & Menzie D. Chinn & XingWang Qian, 2012. "Are Chinese Trade Flows Different?," NBER Working Papers 17875, National Bureau of Economic Research, Inc.
- Cheung, Yin-Wong & Chinn, Menzie D. & Qian, XingWang, 2012. "Are Chinese trade flows different?," BOFIT Discussion Papers 14/2012, Bank of Finland, Institute for Economies in Transition.
- Hansen, Bruce E, 1992.
"Tests for Parameter Instability in Regressions with I(1) Processes,"
Journal of Business & Economic Statistics,
American Statistical Association, vol. 10(3), pages 321-335, July.
- Hansen, Bruce E, 2002. "Tests for Parameter Instability in Regressions with I(1) Processes," Journal of Business & Economic Statistics, American Statistical Association, vol. 20(1), pages 45-59, January.
- Charalambos Pattichis, 1999. "Price and income elasticities of disaggregated import demand: results from UECMs and an application," Applied Economics, Taylor & Francis Journals, vol. 31(9), pages 1061-1071.
- Saikkonen, Pentti, 1992. "Estimation and Testing of Cointegrated Systems by an Autoregressive Approximation," Econometric Theory, Cambridge University Press, vol. 8(01), pages 1-27, March.
- Fengbao Yin & Shigeyuki Hamori, 2011. "Estimating the import demand function in the autoregressive distributed lag framework: The case of China," Economics Bulletin, AccessEcon, vol. 31(2), pages 1576-1591.
- Zelal Kotan & Mesut Saygili, 1999. "Estimating an Import Function for Turkey," Discussion Papers 9909, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
- Inder, Brett, 1993. "Estimating long-run relationships in economics : A comparison of different approaches," Journal of Econometrics, Elsevier, vol. 57(1-3), pages 53-68.
- Giray Gozgor, 2011. "Purchasing power parity hypothesis among the main trading partners of Turkey," Economics Bulletin, AccessEcon, vol. 31(2), pages 1432-1438.
- Johansen, Soren & Juselius, Katarina, 1990. "Maximum Likelihood Estimation and Inference on Cointegration--With Applications to the Demand for Money," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 52(2), pages 169-210, May.
- Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
- M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
- Johansen, Soren, 1991. "Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models," Econometrica, Econometric Society, vol. 59(6), pages 1551-1580, November.
- Wang, Yi-Hsien & Lee, Jun-De, 2012. "Estimating the import demand function for China," Economic Modelling, Elsevier, vol. 29(6), pages 2591-2596.
- Khan, Mohsin S, 1975. "The Structure and Behavior of Imports of Venezuela," The Review of Economics and Statistics, MIT Press, vol. 57(2), pages 221-224, May.
- Gita Gopinath & Oleg Itskhoki & Brent Neiman, 2011.
"Trade Prices and the Global Trade Collapse of 2008-2009,"
NBER Working Papers
17594, National Bureau of Economic Research, Inc.
- Gopinath, Gita & Itskhoki, Oleg & Neiman, Brent, 2012. "Trade Prices and the Global Trade Collapse of 2008-2009," CEPR Discussion Papers 9158, C.E.P.R. Discussion Papers.
- M. Faruk Aydin & Ugur Ciplak & Eray M. Yucel, 2004. "Export Supply and Import Demand Models for the Turkish Economy," Working Papers 0409, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
When requesting a correction, please mention this item's handle: RePEc:ebl:ecbull:eb-13-00101. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (John P. Conley)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.