Year 2021, Volume 29 , Issue 48, Pages 127 - 143 2021-04-28

Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures
Türkiye’de Politik ve Finansal Riskler Arasındaki İlişki: Kurumsal Yapılara Dair Fourier Eşbütünleşme Analizinden Kanıt

Yıldırım Beyazıt ÇİÇEN [1]


Institutional structure and quality of management are the main elements that form the political risks. Political threats are directly linked to the institutional structure and the institutional design. Political risks increase if the government mechanisms fail. Increasing institutional quality reduces the political risks and positively impacts the financial risks. Monthly data from different indices are used to analyse the relationship between Turkey's political risks and financial risks between 2002 and 2015. According to the Fourier analysis of cointegration, there is a long-term relationship between the political and financial risks. Besides, as per the Fully Modified Ordinary Least Squares (FMOLS) findings and the Dynamic Ordinary Least Squares (DOLS) models, an increase in the political risk increases the financial risk.
Kurumsal yapı ve yönetim kalitesi politik riskleri oluşturan ana unsurlardır. Politik riskler doğrudan kurumsal yapı ve kurumsal tasarıma bağlıdır. Hükümet mekanizmaları başarısız olduğu takdirde siyasi riskler artmaktadır. Kurumsal kalitenin arttırılması politik riskleri azaltır ve ayrıca finansal riskler üzerinde olumlu bir etkisi bulunmaktadır. Bu analizde Türkiye’de politik riskler ile finansal riskler arasındaki ilişki 2002-2015 yılları dönemine ait aylık veriler kullanılarak analiz edilmiştir. Fourier’in eşbütünleşme analizine bulgularına göre, politik ve finansal riskler arasında uzun dönemli bir ilişki bulunmaktadır. Ayrıca FMOLS ve DOLS modellerinden elde edilen bulguya göre politik riskteki artış finansal riskleri artırmaktadır.
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Primary Language en
Subjects Social
Journal Section Articles
Authors

Orcid: 0000-0002-3425-280X
Author: Yıldırım Beyazıt ÇİÇEN (Primary Author)
Institution: GÜMÜŞHANE FACULTY OF ECONOMICS AND ADMINISTRATIVE SCIENCES
Country: Turkey


Dates

Publication Date : April 28, 2021

Bibtex @research article { sosyoekonomi776934, journal = {Sosyoekonomi}, issn = {1305-5577}, address = {}, publisher = {Sosyoekonomi Society}, year = {2021}, volume = {29}, pages = {127 - 143}, doi = {10.17233/sosyoekonomi.2021.02.07}, title = {Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures}, key = {cite}, author = {Çiçen, Yıldırım Beyazıt} }
APA Çiçen, Y . (2021). Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures . Sosyoekonomi , 29 (48) , 127-143 . DOI: 10.17233/sosyoekonomi.2021.02.07
MLA Çiçen, Y . "Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures" . Sosyoekonomi 29 (2021 ): 127-143 <https://dergipark.org.tr/en/pub/sosyoekonomi/issue/62051/776934>
Chicago Çiçen, Y . "Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures". Sosyoekonomi 29 (2021 ): 127-143
RIS TY - JOUR T1 - Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures AU - Yıldırım Beyazıt Çiçen Y1 - 2021 PY - 2021 N1 - doi: 10.17233/sosyoekonomi.2021.02.07 DO - 10.17233/sosyoekonomi.2021.02.07 T2 - Sosyoekonomi JF - Journal JO - JOR SP - 127 EP - 143 VL - 29 IS - 48 SN - 1305-5577- M3 - doi: 10.17233/sosyoekonomi.2021.02.07 UR - https://doi.org/10.17233/sosyoekonomi.2021.02.07 Y2 - 2021 ER -
EndNote %0 Sosyoekonomi Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures %A Yıldırım Beyazıt Çiçen %T Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures %D 2021 %J Sosyoekonomi %P 1305-5577- %V 29 %N 48 %R doi: 10.17233/sosyoekonomi.2021.02.07 %U 10.17233/sosyoekonomi.2021.02.07
ISNAD Çiçen, Yıldırım Beyazıt . "Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures". Sosyoekonomi 29 / 48 (April 2021): 127-143 . https://doi.org/10.17233/sosyoekonomi.2021.02.07
AMA Çiçen Y . Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures. Sosyoekonomi. 2021; 29(48): 127-143.
Vancouver Çiçen Y . Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures. Sosyoekonomi. 2021; 29(48): 127-143.
IEEE Y. Çiçen , "Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures", Sosyoekonomi, vol. 29, no. 48, pp. 127-143, Apr. 2021, doi:10.17233/sosyoekonomi.2021.02.07