Research Article
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Year 2019, Volume: 14 Issue: 54, 106 - 118, 30.04.2019
https://doi.org/10.19168/jyasar.513290

Abstract

References

  • Agbloyor Elikplimi Komla, Abor,Joshua Yindenaba, Adjasi Charles Komla Delali ve Yawson, Alfred 2014. “Private Capital Flows And Economic Growth in Africa: The Role Of Domestic Financial Markets” Journal of International Financial Markets, Institutions and Money, 30:137–152.
  • Ahmad, Fayyaz, Yang Su-Chang ve Draz., Muhammad Umar Yang. 2015. “Causality between Foreign Portfolio Inflows and Economic Growth: Evidence from China and India” International Journal of Economics and Finance,7(10):163-172.
  • Ahmad, Fayyaz, Draz Muhammad Umar ve Su-chang Yang. 2016. “Foreign Portfolio Inflows And Economic Growth: Evidence From ASEAN” Actual Problems Of Economics, 5(179), 57-69.
  • Aizenman Joshua, Jinjarak Yothin, Park Donghyun. 2011. “Capital Flows And Economic Growth in The Era of Financial Integration And Crisis, 1990–2010” NBER Working Paper No. 17502.
  • Alfaro L., Kalemli-Ozcan S. ve Volosovych V. 2005. “Why doesn’t Capital Flow from Rich to Poor Countries? An Empirical Investigation” NBER Working Paper, No. 11901.
  • Aslan Nurdan, Terzi Nuray ve Siampan Etza. 2014. “Türkiye’de Kısa Vadeli Sermaye Hareketlerinin Ekonomik Büyüme Ve Reel Döviz Kuru İle İlişkisi” Finansal Araştırmalar ve Çalışmalar Dergisi, 5(10): 15-32, ISSN 1309-1123,
  • Berksoy Taner ve Saltoğlu, Burak.1998. “Türkiye Ekonomisinde Sermaye Hareketleri”, İstanbul Ticaret Odası, Yayın No: 1998-58, İstanbul.
  • Bhagwati Jagdish N. 1998. “The Capital Myth: The Difference Between Trade in Widgets And Dollars.”Foreign Affairs, 77(3): 7-12.
  • Bleaney Michael ve Greenaway David. 2001. “The Impact Of Terms Of Trade And Real Exchange Rate Volatility On Investment And Growth in Sub-Saharan Africa.” Journal of Development Economics, 65(2): 491–500.
  • Blonigen Bruce A. 2005. “A Review of the Empirical Literature on FDI Determinants”Atlantic Economic Journal, 33(4):383–403.
  • Chuhan Punam, Claessens Stijn ve Maming, Nlandu. 1998. “Equity and Bond Flows to Asia and Latin America: The Role Of Global And Country Factors.” Journal of Development Economics, 55(2):439-463.
  • Choong Chee-Keong, Baharumshah Ahmad Z., Yusop Zulkornain ve Habibullah Muzafar S. 2010. “Private Capital Flows, Stock Market And Economic Growth in Developed And Developing Countries: A Comparative Analysis” Japan and the World Economy 22:107–117.
  • Coskun Yener, Seven Unal, Ertuğrul Hasan M. ve Ulussever, Talat. 2017. “Capital Market And Economic Growth Nexus: Evidence from Turkey”, Central Bank Review, 17(1):19–29.
  • Çulha, Ali Aşkın. 2006. “A Structural VAR Analysis of the Determinants of Capital Flows into Turkey” Central Bank Review 2:11-35.
  • Darby Julia., Hallett Andrew H., Ireland Jonathan, ve Piscitelli Laura. 1999. “The Impact Of Exchange Rate Uncertainty On The Level Of Investment.” The Economic Journal, 109(457):, 55–67.
  • Daude Christian ve Fratzscher Marcel. 2006. “The Pecking Order Of Cross-Border Investment.” Journal of International Economics, 74(1): 94-119.
  • Durham Benson J. 2003. “Foreign Portfolio Investment, Foreign Bank Lending, and Economic Growth” Board of Governors of the Federal Reserve System, International Finance Discussion Papers Number 757, Washington D.C.:USA.
  • Durham, Benson. J., 2004. “Absorptive Capacity And The Effects Of Foreign Direct İnvestment And Equity Foreign Portfolio İnvestment On Economic Growth.” European Economic Review 48: 285–306.
  • Errunza, Vihang.2001. “Foreign Portfolio Equity Investments, Financial Liberalization, and Economic Development.” Review of International Economics, 9(4):703–726.
  • Ersoy Imre. 2013. “The Role Of Private Capital İnflows And The Exchange Market Pressure On Real Exchange Rate Appreciation: The Case Of Turkey.” South African Journal of Economics, 81(1): 35–51.
  • Eun Cheol S., ve Resnick, Bruce G. 1988. “Exchange Rate Uncertainty, Forward Contracts, And İnternational Portfolio Selection.” The Journal of Finance, 43(1): 197–215.Fernandez-Aris E. ve Montiel P. J. 1996. “The Surge in Capital Inflows to Developing Countries: An Analytical Overview”, The World Bank Economic Review, 10:51-77.
  • Ferreira Miguel A. ve Laux Paul A. 2009. “Portfolio Flows, Volatility And Growth” Journal of International Money and Finance, 28:271–292.
  • Froot Kenneth A., ve Stein Jeremy C. 1991. “Exchange Rates And Foreign Direct Investment: An Imperfect Capital Markets Approach.” The Quarterly Journal of Economics, 106(4): 1191–1217.
  • Goldstein Italy ve Razin Assaf. 2006. “An Information-Based Trade-Off Between Foreign Direct Investment And Foreign Portfolio Investment”, Journal of International Economics, 70(1): 271-295.
  • Goldstein Italy, Razin Assaf Ve Tong Hui. 2010. “Liquidity, Institutional Quality and the Composition of International Equity Flows” NBER Working Paper, No. 15727.
  • Humanicki Marcin, Kelm Robert ve Krzysztof Olszewski.2013. “Foreign Direct Investment and Foreign Portfolio Investment in the Contemporary Globalized World: Should They Be Still Treated Separately?” NBP Working Paper No. 167, Narodowy Bank Polski Education & Publishing Department Economic Institute Warsaw: Poland.
  • Gruben William C. ve Mcleod Darryl. 1998. “Changes In Capital Flow: Capital Flows, Savings, and Growth in the 1990s” The Quarterly Review of Economics and Finance, 38(3), 287-301.
  • Hoti, Suhejla.2004. “An Empirical Evaluation of International Capital Flows For Developing Countries.” Mathematics and Computers in Simulation, 64(1):143–160.
  • Ibrahim T. R. ve Akinbobola T.O. 2017. “Foreign Portfolio Investment and Economic Growth in Nigeria Democratic Settings”, Journal of Economics and Sustainable Development, 8(5):33-52.
  • Insel Aysu ve Sungur Nesrin. 2003. “Sermaye Akımlarının Temel Makroekonomik Göstergeler Üzerindeki Etkileri: Türkiye Örneği-1989:III-1999:IV”, Türkiye Ekonomi Kurumu Tartışma Metni, Nu. 2003/8.
  • International Monetary Fund (2018). World Economic Outlook.
  • Karagöl Erdal T., Erbaykal Erman ve Ertuğrul Hasan M. 2007. “Türkiye’de Ekonomik Büyüme ile Elektrik Tüketimi İlişkisi: Sınır Testi Yaklaşımı.” Doğuş Üniversitesi Dergisi, 8(1): 72-80.
  • Karpuz Filiz ve Kızıltan Alaattin. 2014. “Türkiye’de Kısa Vadeli Yabancı Yatırımlar İle Reel Döviz Kuru Arasındaki İlişki.” EKEV Akademi Dergisi, 18 (60):194-210.
  • Kodongo Odongo ve Ojah Kalu.2012. “The Dynamic Relation Between Foreign Exchange Rates And International Portfolio Flows: Evidence From Africa's Capital Markets.” International Review of Economics and Finance, 24, 71–87.
  • Kose, Ayhan M., Prasad Eswar S., Terrones Marco E.2009.“Does Openness to International Financial Flows Raise Productivity Growth?”Journal of International Money and Finance, 28(4):554–580.
  • Lemmon, M., Lins, K., 2003. “Ownership Structure, Corporate Governance, And Firm Value: Evidence From The East Asian Financial Crisis.” Journal of Finance,58:a 1445–1468.
  • Mangır Fatih ve Ertuğrul Hasan M. 2012. “Sermaye Hareketliliği Tasarruf Ve Yatırım İlişkisi Türkiye Örneği.” İktisat İşletme ve Finans, 27(317): 61–87.
  • Mody Ashoka, Taylor Mark P. ve Kim Jung Y. 2001. “Modelling Fundamentals For Forecasting Capital Flows To Emerging Markets” International Journal of Finance and Economics, 6: 201-216.
  • Neumann Rebeka M., Penl Ron ve Tanku, Altin. 2009. “Volatility Of Capital Flows And Financial Liberalization: Do Specific Flows Respond Differently?” International Review Of Economics And Finance, 18(3): 488–501.
  • Ng, S., ve Perron P. 2001. “Lag Length Selection and the Construction of Unit Root Tests with Good Size and Power.” Econometrica, 69(6): 1519–1554.
  • Pesaran, M.H., Shin, Y. ve Smith, R.J. 2001. “Bounds Testing Approaches to the Analysis of Level Relationships.” Journal of Applied Econometrics, 16(3): 289-326.
  • Prasad Eswar, Rogoff Kenneth, Wei Shang-Jin ve Kose M. Ayhan.2003. “Effects of Financial Globalization on Developing Countries: Some Empirical Evidence.” Technical report. International Monetary Fund
  • Reinhart, Carmen ve Calvo, Guillermo.2000. "When Capital Inflows Come to a Sudden Stop: Consequences and Policy Options," MPRA Paper 6982, University Library of Munich, Germany.
  • Stiglitz, Joseph E. 2000. “Capital Market Liberalization, Economic Growth,and Instability” World Development, 28(6):1075–1086.
  • Stiglitz, Joseph E.1999. “Lessons from East Asia” Journal of Policy Modeling 21: 311–330.
  • Stock James H. ve Watson Mark W.1993.”A Simple Estimator of Cointegrating Vectors in Higher Order Integrated Systems.” Econometrica, 61(4):783-820.
  • Taylor M. P. ve Sarno L. 1997. “Capital Flows to Developing Countries: Long- and Short-Term Determinants” World Bank Economic Review, 11:451-470.
  • Taskın F. Dilvin ve Okur Mustafa Reha (2014). “Foreign Capital Flows, FDI And Economic Growth In Turkey In The Post Crisis Period” International Journal Of Economics And Finance Studies, 6(1):1-17.
  • TCMB (2018). Ödemeler Dengesi İstatistikleri veritabanı.
  • Uçan Okyay ve Öztürk Özlem.2010. “Kısa Vadeli Sermaye Hareketleri ile Döviz Kuru İlişkisi: Türkiye Örneği.” Çukurova Üniversitesi Sosyal Bilimler Enstitüsü Dergisi,19(3):309-318.
  • Vita Glacue De ve Kyaw Khine S. 2008. “Determinants of Capital Flows To Developing Countries: A Structural VAR Analysis.” Journal of Economic Studies,35(4):304–322.
  • Waqas, Yahya, Hashmi Shujahat Haider ve Nazir Muhammad Imran.2015. “Macroeconomic Factors And Foreign Portfolio Investment Volatility: A Case Of South Asian Countries” Future Business Journal 1:65–74.
  • Welch John H. 1996. “Capital Flows and Economic Growth: Reflections on Latin America in the 1990s.” The Quarterly Review of Economics and Finance, 36:101–114.
  • Yıldırım Nuri ve Taştan Hüseyin. 2012. “Capital Flows and Economic Growth across Spectral Frequencies: Evidence from Turkey” Panoeconomicus, 4: 441-462.

Türkiye İçin Kısa Vadeli Sermaye Akımları ve Reel Döviz Kurunun Ekonomik Büyüme Üzerine Etkilerine İlişkin Uygulamalı Bir Araştırma

Year 2019, Volume: 14 Issue: 54, 106 - 118, 30.04.2019
https://doi.org/10.19168/jyasar.513290

Abstract

Tasarruf açığı ve sermaye birikimi yetersizliği sorunu olan ülkeler, neoliberal politikaların da etkisiyle finansal serbestleşmeye yönelik politikalar uygulamışlardır. Bu nedenle yabancı sermaye hacimlerini arttırmak için yabancı sermaye kısıtlayıcı engeller kaldırılmıştır. Benzer biçimde 1990’lardan itibaren Türkiye de finansal serbestleşme yolunda yabancı sermaye girişini serbestleştirmiştir. Fakat finansal yapı, makroekonomik istikrarsızlık ve politik çalkantılar gibi sebepler bu dönemde Türkiye'nin kriz eğilimlerini artırmış ve kısa vadeli sermaye hareketlerdeki ani duruş etkisi nedeniyle ciddi krizler yaşanmıştır. Bunun yanında her türlü yabancı sermaye girişinin ekonomilere yaptığı olumlu katkılarda yok sayılamamaktadır. Bu çalışmada ekonomik büyüme, kısa vadeli sermaye hareketleri ve döviz kuru arasındaki teorik ve ampirik ilişki incelenmiştir. Çalışmada Ocak 2005-Ocak 2018 dönemine ait sanayi üretim endeksi, ÜFE bazlı reel efektif döviz kuru ve kısa vadeli sermaye hareketlerinin göstergesi olarak da portföy yatırımı değişkenleri kullanılmıştır. Değişkenler arasındaki ilişki ARDL ve FMOLS, DOLS ve Markov Switching modelleri ile analiz edilmiştir. Elde edilen sonuçlara göre, reel kur sanayi üretimi için negatif önemli bir etkiye sahipken, portföy yatırımları sanayi üretimi üzerinde anlamlı bir etkiye sahip değildir.

References

  • Agbloyor Elikplimi Komla, Abor,Joshua Yindenaba, Adjasi Charles Komla Delali ve Yawson, Alfred 2014. “Private Capital Flows And Economic Growth in Africa: The Role Of Domestic Financial Markets” Journal of International Financial Markets, Institutions and Money, 30:137–152.
  • Ahmad, Fayyaz, Yang Su-Chang ve Draz., Muhammad Umar Yang. 2015. “Causality between Foreign Portfolio Inflows and Economic Growth: Evidence from China and India” International Journal of Economics and Finance,7(10):163-172.
  • Ahmad, Fayyaz, Draz Muhammad Umar ve Su-chang Yang. 2016. “Foreign Portfolio Inflows And Economic Growth: Evidence From ASEAN” Actual Problems Of Economics, 5(179), 57-69.
  • Aizenman Joshua, Jinjarak Yothin, Park Donghyun. 2011. “Capital Flows And Economic Growth in The Era of Financial Integration And Crisis, 1990–2010” NBER Working Paper No. 17502.
  • Alfaro L., Kalemli-Ozcan S. ve Volosovych V. 2005. “Why doesn’t Capital Flow from Rich to Poor Countries? An Empirical Investigation” NBER Working Paper, No. 11901.
  • Aslan Nurdan, Terzi Nuray ve Siampan Etza. 2014. “Türkiye’de Kısa Vadeli Sermaye Hareketlerinin Ekonomik Büyüme Ve Reel Döviz Kuru İle İlişkisi” Finansal Araştırmalar ve Çalışmalar Dergisi, 5(10): 15-32, ISSN 1309-1123,
  • Berksoy Taner ve Saltoğlu, Burak.1998. “Türkiye Ekonomisinde Sermaye Hareketleri”, İstanbul Ticaret Odası, Yayın No: 1998-58, İstanbul.
  • Bhagwati Jagdish N. 1998. “The Capital Myth: The Difference Between Trade in Widgets And Dollars.”Foreign Affairs, 77(3): 7-12.
  • Bleaney Michael ve Greenaway David. 2001. “The Impact Of Terms Of Trade And Real Exchange Rate Volatility On Investment And Growth in Sub-Saharan Africa.” Journal of Development Economics, 65(2): 491–500.
  • Blonigen Bruce A. 2005. “A Review of the Empirical Literature on FDI Determinants”Atlantic Economic Journal, 33(4):383–403.
  • Chuhan Punam, Claessens Stijn ve Maming, Nlandu. 1998. “Equity and Bond Flows to Asia and Latin America: The Role Of Global And Country Factors.” Journal of Development Economics, 55(2):439-463.
  • Choong Chee-Keong, Baharumshah Ahmad Z., Yusop Zulkornain ve Habibullah Muzafar S. 2010. “Private Capital Flows, Stock Market And Economic Growth in Developed And Developing Countries: A Comparative Analysis” Japan and the World Economy 22:107–117.
  • Coskun Yener, Seven Unal, Ertuğrul Hasan M. ve Ulussever, Talat. 2017. “Capital Market And Economic Growth Nexus: Evidence from Turkey”, Central Bank Review, 17(1):19–29.
  • Çulha, Ali Aşkın. 2006. “A Structural VAR Analysis of the Determinants of Capital Flows into Turkey” Central Bank Review 2:11-35.
  • Darby Julia., Hallett Andrew H., Ireland Jonathan, ve Piscitelli Laura. 1999. “The Impact Of Exchange Rate Uncertainty On The Level Of Investment.” The Economic Journal, 109(457):, 55–67.
  • Daude Christian ve Fratzscher Marcel. 2006. “The Pecking Order Of Cross-Border Investment.” Journal of International Economics, 74(1): 94-119.
  • Durham Benson J. 2003. “Foreign Portfolio Investment, Foreign Bank Lending, and Economic Growth” Board of Governors of the Federal Reserve System, International Finance Discussion Papers Number 757, Washington D.C.:USA.
  • Durham, Benson. J., 2004. “Absorptive Capacity And The Effects Of Foreign Direct İnvestment And Equity Foreign Portfolio İnvestment On Economic Growth.” European Economic Review 48: 285–306.
  • Errunza, Vihang.2001. “Foreign Portfolio Equity Investments, Financial Liberalization, and Economic Development.” Review of International Economics, 9(4):703–726.
  • Ersoy Imre. 2013. “The Role Of Private Capital İnflows And The Exchange Market Pressure On Real Exchange Rate Appreciation: The Case Of Turkey.” South African Journal of Economics, 81(1): 35–51.
  • Eun Cheol S., ve Resnick, Bruce G. 1988. “Exchange Rate Uncertainty, Forward Contracts, And İnternational Portfolio Selection.” The Journal of Finance, 43(1): 197–215.Fernandez-Aris E. ve Montiel P. J. 1996. “The Surge in Capital Inflows to Developing Countries: An Analytical Overview”, The World Bank Economic Review, 10:51-77.
  • Ferreira Miguel A. ve Laux Paul A. 2009. “Portfolio Flows, Volatility And Growth” Journal of International Money and Finance, 28:271–292.
  • Froot Kenneth A., ve Stein Jeremy C. 1991. “Exchange Rates And Foreign Direct Investment: An Imperfect Capital Markets Approach.” The Quarterly Journal of Economics, 106(4): 1191–1217.
  • Goldstein Italy ve Razin Assaf. 2006. “An Information-Based Trade-Off Between Foreign Direct Investment And Foreign Portfolio Investment”, Journal of International Economics, 70(1): 271-295.
  • Goldstein Italy, Razin Assaf Ve Tong Hui. 2010. “Liquidity, Institutional Quality and the Composition of International Equity Flows” NBER Working Paper, No. 15727.
  • Humanicki Marcin, Kelm Robert ve Krzysztof Olszewski.2013. “Foreign Direct Investment and Foreign Portfolio Investment in the Contemporary Globalized World: Should They Be Still Treated Separately?” NBP Working Paper No. 167, Narodowy Bank Polski Education & Publishing Department Economic Institute Warsaw: Poland.
  • Gruben William C. ve Mcleod Darryl. 1998. “Changes In Capital Flow: Capital Flows, Savings, and Growth in the 1990s” The Quarterly Review of Economics and Finance, 38(3), 287-301.
  • Hoti, Suhejla.2004. “An Empirical Evaluation of International Capital Flows For Developing Countries.” Mathematics and Computers in Simulation, 64(1):143–160.
  • Ibrahim T. R. ve Akinbobola T.O. 2017. “Foreign Portfolio Investment and Economic Growth in Nigeria Democratic Settings”, Journal of Economics and Sustainable Development, 8(5):33-52.
  • Insel Aysu ve Sungur Nesrin. 2003. “Sermaye Akımlarının Temel Makroekonomik Göstergeler Üzerindeki Etkileri: Türkiye Örneği-1989:III-1999:IV”, Türkiye Ekonomi Kurumu Tartışma Metni, Nu. 2003/8.
  • International Monetary Fund (2018). World Economic Outlook.
  • Karagöl Erdal T., Erbaykal Erman ve Ertuğrul Hasan M. 2007. “Türkiye’de Ekonomik Büyüme ile Elektrik Tüketimi İlişkisi: Sınır Testi Yaklaşımı.” Doğuş Üniversitesi Dergisi, 8(1): 72-80.
  • Karpuz Filiz ve Kızıltan Alaattin. 2014. “Türkiye’de Kısa Vadeli Yabancı Yatırımlar İle Reel Döviz Kuru Arasındaki İlişki.” EKEV Akademi Dergisi, 18 (60):194-210.
  • Kodongo Odongo ve Ojah Kalu.2012. “The Dynamic Relation Between Foreign Exchange Rates And International Portfolio Flows: Evidence From Africa's Capital Markets.” International Review of Economics and Finance, 24, 71–87.
  • Kose, Ayhan M., Prasad Eswar S., Terrones Marco E.2009.“Does Openness to International Financial Flows Raise Productivity Growth?”Journal of International Money and Finance, 28(4):554–580.
  • Lemmon, M., Lins, K., 2003. “Ownership Structure, Corporate Governance, And Firm Value: Evidence From The East Asian Financial Crisis.” Journal of Finance,58:a 1445–1468.
  • Mangır Fatih ve Ertuğrul Hasan M. 2012. “Sermaye Hareketliliği Tasarruf Ve Yatırım İlişkisi Türkiye Örneği.” İktisat İşletme ve Finans, 27(317): 61–87.
  • Mody Ashoka, Taylor Mark P. ve Kim Jung Y. 2001. “Modelling Fundamentals For Forecasting Capital Flows To Emerging Markets” International Journal of Finance and Economics, 6: 201-216.
  • Neumann Rebeka M., Penl Ron ve Tanku, Altin. 2009. “Volatility Of Capital Flows And Financial Liberalization: Do Specific Flows Respond Differently?” International Review Of Economics And Finance, 18(3): 488–501.
  • Ng, S., ve Perron P. 2001. “Lag Length Selection and the Construction of Unit Root Tests with Good Size and Power.” Econometrica, 69(6): 1519–1554.
  • Pesaran, M.H., Shin, Y. ve Smith, R.J. 2001. “Bounds Testing Approaches to the Analysis of Level Relationships.” Journal of Applied Econometrics, 16(3): 289-326.
  • Prasad Eswar, Rogoff Kenneth, Wei Shang-Jin ve Kose M. Ayhan.2003. “Effects of Financial Globalization on Developing Countries: Some Empirical Evidence.” Technical report. International Monetary Fund
  • Reinhart, Carmen ve Calvo, Guillermo.2000. "When Capital Inflows Come to a Sudden Stop: Consequences and Policy Options," MPRA Paper 6982, University Library of Munich, Germany.
  • Stiglitz, Joseph E. 2000. “Capital Market Liberalization, Economic Growth,and Instability” World Development, 28(6):1075–1086.
  • Stiglitz, Joseph E.1999. “Lessons from East Asia” Journal of Policy Modeling 21: 311–330.
  • Stock James H. ve Watson Mark W.1993.”A Simple Estimator of Cointegrating Vectors in Higher Order Integrated Systems.” Econometrica, 61(4):783-820.
  • Taylor M. P. ve Sarno L. 1997. “Capital Flows to Developing Countries: Long- and Short-Term Determinants” World Bank Economic Review, 11:451-470.
  • Taskın F. Dilvin ve Okur Mustafa Reha (2014). “Foreign Capital Flows, FDI And Economic Growth In Turkey In The Post Crisis Period” International Journal Of Economics And Finance Studies, 6(1):1-17.
  • TCMB (2018). Ödemeler Dengesi İstatistikleri veritabanı.
  • Uçan Okyay ve Öztürk Özlem.2010. “Kısa Vadeli Sermaye Hareketleri ile Döviz Kuru İlişkisi: Türkiye Örneği.” Çukurova Üniversitesi Sosyal Bilimler Enstitüsü Dergisi,19(3):309-318.
  • Vita Glacue De ve Kyaw Khine S. 2008. “Determinants of Capital Flows To Developing Countries: A Structural VAR Analysis.” Journal of Economic Studies,35(4):304–322.
  • Waqas, Yahya, Hashmi Shujahat Haider ve Nazir Muhammad Imran.2015. “Macroeconomic Factors And Foreign Portfolio Investment Volatility: A Case Of South Asian Countries” Future Business Journal 1:65–74.
  • Welch John H. 1996. “Capital Flows and Economic Growth: Reflections on Latin America in the 1990s.” The Quarterly Review of Economics and Finance, 36:101–114.
  • Yıldırım Nuri ve Taştan Hüseyin. 2012. “Capital Flows and Economic Growth across Spectral Frequencies: Evidence from Turkey” Panoeconomicus, 4: 441-462.
There are 54 citations in total.

Details

Primary Language Turkish
Journal Section Articles
Authors

Fatih Ayhan

Publication Date April 30, 2019
Published in Issue Year 2019 Volume: 14 Issue: 54

Cite

APA Ayhan, F. (2019). Türkiye İçin Kısa Vadeli Sermaye Akımları ve Reel Döviz Kurunun Ekonomik Büyüme Üzerine Etkilerine İlişkin Uygulamalı Bir Araştırma. Yaşar Üniversitesi E-Dergisi, 14(54), 106-118. https://doi.org/10.19168/jyasar.513290
AMA Ayhan F. Türkiye İçin Kısa Vadeli Sermaye Akımları ve Reel Döviz Kurunun Ekonomik Büyüme Üzerine Etkilerine İlişkin Uygulamalı Bir Araştırma. Yaşar Üniversitesi E-Dergisi. April 2019;14(54):106-118. doi:10.19168/jyasar.513290
Chicago Ayhan, Fatih. “Türkiye İçin Kısa Vadeli Sermaye Akımları Ve Reel Döviz Kurunun Ekonomik Büyüme Üzerine Etkilerine İlişkin Uygulamalı Bir Araştırma”. Yaşar Üniversitesi E-Dergisi 14, no. 54 (April 2019): 106-18. https://doi.org/10.19168/jyasar.513290.
EndNote Ayhan F (April 1, 2019) Türkiye İçin Kısa Vadeli Sermaye Akımları ve Reel Döviz Kurunun Ekonomik Büyüme Üzerine Etkilerine İlişkin Uygulamalı Bir Araştırma. Yaşar Üniversitesi E-Dergisi 14 54 106–118.
IEEE F. Ayhan, “Türkiye İçin Kısa Vadeli Sermaye Akımları ve Reel Döviz Kurunun Ekonomik Büyüme Üzerine Etkilerine İlişkin Uygulamalı Bir Araştırma”, Yaşar Üniversitesi E-Dergisi, vol. 14, no. 54, pp. 106–118, 2019, doi: 10.19168/jyasar.513290.
ISNAD Ayhan, Fatih. “Türkiye İçin Kısa Vadeli Sermaye Akımları Ve Reel Döviz Kurunun Ekonomik Büyüme Üzerine Etkilerine İlişkin Uygulamalı Bir Araştırma”. Yaşar Üniversitesi E-Dergisi 14/54 (April 2019), 106-118. https://doi.org/10.19168/jyasar.513290.
JAMA Ayhan F. Türkiye İçin Kısa Vadeli Sermaye Akımları ve Reel Döviz Kurunun Ekonomik Büyüme Üzerine Etkilerine İlişkin Uygulamalı Bir Araştırma. Yaşar Üniversitesi E-Dergisi. 2019;14:106–118.
MLA Ayhan, Fatih. “Türkiye İçin Kısa Vadeli Sermaye Akımları Ve Reel Döviz Kurunun Ekonomik Büyüme Üzerine Etkilerine İlişkin Uygulamalı Bir Araştırma”. Yaşar Üniversitesi E-Dergisi, vol. 14, no. 54, 2019, pp. 106-18, doi:10.19168/jyasar.513290.
Vancouver Ayhan F. Türkiye İçin Kısa Vadeli Sermaye Akımları ve Reel Döviz Kurunun Ekonomik Büyüme Üzerine Etkilerine İlişkin Uygulamalı Bir Araştırma. Yaşar Üniversitesi E-Dergisi. 2019;14(54):106-18.