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Döviz Kuru Oynaklığı ve Ekonomik Büyüme: Türkiye Örneği

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  • Hidayet ÜNLÜ

Abstract

The relation between the real exchange rate volatility and economic growth is among the remarkable study topics. How does this exchange rate volatility shape the investment and economic growth? In literature, there exist many studies that seek an answer to this question. In this study, an answer is searched for this mentioned question by investigating the impacts of real exchange rates over the output growth in Turkey. In this study, the impacts of consumer price index (CPI), gross fixed capital formation (GFCF), foreign direct investment (FDI) and real exchange rate volatility (RERV) on real gross domestic product (RGDP) of Turkey, are investigated using data of quarterly periods from 1998:Q1 to 2014:Q3. In reference to ARDL bounds test approach, it is concluded that there has been a long term relation among the variables. While consumer price index (CPI) and gross fixed capital formation (GFCF) variables have a positive and statistically significant impact on (RGDP), the coefficient of foreign direct investment (FDI) variables is also positive but not significant. Real exchange rate volatility (RERV) variable has a negative and statistically significant impact on real gross domestic product (RGDP). This result shows that the real exchange rate volatility in Turkey have negative impacts on the output.

Suggested Citation

  • Hidayet ÜNLÜ, 2016. "Döviz Kuru Oynaklığı ve Ekonomik Büyüme: Türkiye Örneği," Sosyoekonomi Journal, Sosyoekonomi Society, issue 24(27).
    • Handle: RePEc:sos:sosjrn:160101
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    Keywords

    Real Exchange Rate Volatility; Economic Growth; ARDL Bounds Test.;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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