Research Article

Assessing the Effects of Political Risks on Türkiye’s Trade between 1923 and 1950

Volume: 34 Number: 69 July 31, 2026
TR EN

Assessing the Effects of Political Risks on Türkiye’s Trade between 1923 and 1950

Abstract

This paper aims to investigate the political determinants of Türkiye’s exports and imports during the early years of the Republican era. Using an augmented gravity model, we analyse how political risk factors influenced Türkiye’s trade. To achieve this, we utilise annual trade data for 14 of Türkiye’s trading partners from 1923 to 1950. The findings reveal that, unlike tensions in Türkiye's bilateral relations with its trading partners, the geopolitical risks have a significantly negative impact on Türkiye's exports and imports. This suggests that heightened political risk stemming from global events had a detrimental effect on Türkiye’s trade during this period, whereas the tensions in its bilateral relations did not affect foreign trade, thanks to the country's focus on security and economic development.

Keywords

References

  1. Afesorgbor, S.K. (2019), “The Impact of Economic Sanctions on International Trade: How Do Threatened Sanctions Compare With Imposed Sanctions?”, European Journal of Political Economy, 56, 11-26.
  2. Alkin, E. (1983), Turkey’s International Economic Relations, İstanbul: Güryay Matbaası.
  3. Anderson, J.E. & E. van Wincoop (2003), “Gravity with Gravitas: A Solution to the Border Puzzle”, American Economic Review, 93(1), 170-192.
  4. Anderson, J.E. & Y.V. Yotov (2010), “Specialization: Pro- and Anti-globalizing, 1990-2002”, NBER Working Papers 16301, National Bureau of Economic Research, Cambridge, Mass.
  5. Anderson, J.E. & Y.V. Yotov (2012), “Gold Standard Gravity”, NBER Working Papers 17835, National Bureau of Economic Research, Cambridge, Mass.
  6. Anderson, J.E. (1979), “A Theoretical Foundation for the Gravity Equation”, American Economic Review, 69(1), 106-116.
  7. Anderton, C.H. & J.R. Carter (2001), “The Impact of War on Trade: An Interrupted Times-Series Study”, Journal of Peace Research, 38(4), 445-457.
  8. Antonucci, D. & S. Manzocchi (2006), “Does Turkey Have a Special Trade Relation with the EU?: A Gravity Model Approach”, Economic Systems, 30(2), 157-169.

Details

Primary Language

English

Subjects

International Economics (Other)

Journal Section

Research Article

Publication Date

July 31, 2026

Submission Date

May 28, 2025

Acceptance Date

June 24, 2026

Published in Issue

Year 2026 Volume: 34 Number: 69

APA
Altay, İ., Bilici, Ö., & Parlar Dal, E. (2026). Assessing the Effects of Political Risks on Türkiye’s Trade between 1923 and 1950. Sosyoekonomi, 34(69), 363-394. https://doi.org/10.17233/sosyoekonomi.2026.03.17
AMA
1.Altay İ, Bilici Ö, Parlar Dal E. Assessing the Effects of Political Risks on Türkiye’s Trade between 1923 and 1950. Sosyoekonomi. 2026;34(69):363-394. doi:10.17233/sosyoekonomi.2026.03.17
Chicago
Altay, İsmail, Özgül Bilici, and Emel Parlar Dal. 2026. “Assessing the Effects of Political Risks on Türkiye’s Trade Between 1923 and 1950”. Sosyoekonomi 34 (69): 363-94. https://doi.org/10.17233/sosyoekonomi.2026.03.17.
EndNote
Altay İ, Bilici Ö, Parlar Dal E (July 1, 2026) Assessing the Effects of Political Risks on Türkiye’s Trade between 1923 and 1950. Sosyoekonomi 34 69 363–394.
IEEE
[1]İ. Altay, Ö. Bilici, and E. Parlar Dal, “Assessing the Effects of Political Risks on Türkiye’s Trade between 1923 and 1950”, Sosyoekonomi, vol. 34, no. 69, pp. 363–394, July 2026, doi: 10.17233/sosyoekonomi.2026.03.17.
ISNAD
Altay, İsmail - Bilici, Özgül - Parlar Dal, Emel. “Assessing the Effects of Political Risks on Türkiye’s Trade Between 1923 and 1950”. Sosyoekonomi 34/69 (July 1, 2026): 363-394. https://doi.org/10.17233/sosyoekonomi.2026.03.17.
JAMA
1.Altay İ, Bilici Ö, Parlar Dal E. Assessing the Effects of Political Risks on Türkiye’s Trade between 1923 and 1950. Sosyoekonomi. 2026;34:363–394.
MLA
Altay, İsmail, et al. “Assessing the Effects of Political Risks on Türkiye’s Trade Between 1923 and 1950”. Sosyoekonomi, vol. 34, no. 69, July 2026, pp. 363-94, doi:10.17233/sosyoekonomi.2026.03.17.
Vancouver
1.İsmail Altay, Özgül Bilici, Emel Parlar Dal. Assessing the Effects of Political Risks on Türkiye’s Trade between 1923 and 1950. Sosyoekonomi. 2026 Jul. 1;34(69):363-94. doi:10.17233/sosyoekonomi.2026.03.17