Research Article

The Analysis of the Relation between Production and Price of Sunflower by Koyck Model

Volume: 29 Number: 1 June 29, 2023
TR EN

The Analysis of the Relation between Production and Price of Sunflower by Koyck Model

Abstract

Purpose: it is aimed to explain the relationship between sunflower production and price in Turkey with the Koyck model. Design/Methodology/Approach: Distributed Lagged Koyck Model was applied to reveal the relationship between sunflower production and price. At this stage, data for the period 2000-2020 (21 years) were used. A model was developed by Koyck in order to eliminate drawbacks in distributed lag models. Based on the assumption that the independent variable lags affect the dependent variable with a certain weight and that the lag weights decrease geometrically in the Koyck model, the regression equation is estimated by making the model reduced. Findings: The 10% increase in the sunflower price in the current year is expected to increase the production amount one year later by 2.06% and the production amount two years later by 1.22%. The results show that the change in the lagged values of prices has a positive effect on production and this effect is gradually decreasing. Originality/Value: Sunflower production is also affected by the lagged value of the average price in the market. The Koyck model is a suitable model to reveal these lagged values. Thanks to this model, which is used to measure the lagged effects of the price variable in successive periods in terms of production, it will be able to shed light on the effective policies that can be applied for sunflower production.

Keywords

References

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  3. Ağazade, S. (2021). Analysis of the Relationship Between Cotton Production and Prices by Using Koyck Approach in Turkey. Journal of Tekirdağ Agricultural Faculty, 18(3): 386- 399.
  4. Akgül, S. and Yıldız, Ş. (2016). Analysis of Wheat Production and Price Relationship in Yozgat with Koyck Model. Proceeding of International Bozok Symposium, 5-7 May 2016, Yozgat, p.178-188.
  5. Alt, F. (1942). Distributed Lags. Econometrica, 10: 113-128.
  6. Altıntop, M. and Gıdık, B. (2019). Development of Sunflower, Soybean Safflower and Rapeseed Production in Turkey. Bayburt University Journal of Science, 2(2): 307-315.
  7. Arıoğlu, H. (2016). Oil Seeds and Crude Oil Production in Turkey, Problems and Solutions. Journal of Field Crops Central Research Institute, 25(Special Issue 2): 357-368.
  8. Aydın Can, B., Tomar, O., and Yılmaz, A.M. (2021). Evaluation of Sunflower Oil in terms of Food Security and Self-Sufficiency in Turkey and European Union. European Journal of Science and Technology, 31(Special Issue 1): 640-654.

Details

Primary Language

English

Subjects

Agricultural Engineering

Journal Section

Research Article

Early Pub Date

June 30, 2023

Publication Date

June 29, 2023

Submission Date

March 30, 2023

Acceptance Date

June 1, 2023

Published in Issue

Year 2023 Volume: 29 Number: 1

APA
Turğut, U., Güler, D., & Engindeniz, S. (2023). The Analysis of the Relation between Production and Price of Sunflower by Koyck Model. Tarım Ekonomisi Dergisi, 29(1), 57-64. https://doi.org/10.24181/tarekoder.1271544
AMA
1.Turğut U, Güler D, Engindeniz S. The Analysis of the Relation between Production and Price of Sunflower by Koyck Model. TJAE. 2023;29(1):57-64. doi:10.24181/tarekoder.1271544
Chicago
Turğut, Umutcan, Duran Güler, and Sait Engindeniz. 2023. “The Analysis of the Relation Between Production and Price of Sunflower by Koyck Model”. Tarım Ekonomisi Dergisi 29 (1): 57-64. https://doi.org/10.24181/tarekoder.1271544.
EndNote
Turğut U, Güler D, Engindeniz S (June 1, 2023) The Analysis of the Relation between Production and Price of Sunflower by Koyck Model. Tarım Ekonomisi Dergisi 29 1 57–64.
IEEE
[1]U. Turğut, D. Güler, and S. Engindeniz, “The Analysis of the Relation between Production and Price of Sunflower by Koyck Model”, TJAE, vol. 29, no. 1, pp. 57–64, June 2023, doi: 10.24181/tarekoder.1271544.
ISNAD
Turğut, Umutcan - Güler, Duran - Engindeniz, Sait. “The Analysis of the Relation Between Production and Price of Sunflower by Koyck Model”. Tarım Ekonomisi Dergisi 29/1 (June 1, 2023): 57-64. https://doi.org/10.24181/tarekoder.1271544.
JAMA
1.Turğut U, Güler D, Engindeniz S. The Analysis of the Relation between Production and Price of Sunflower by Koyck Model. TJAE. 2023;29:57–64.
MLA
Turğut, Umutcan, et al. “The Analysis of the Relation Between Production and Price of Sunflower by Koyck Model”. Tarım Ekonomisi Dergisi, vol. 29, no. 1, June 2023, pp. 57-64, doi:10.24181/tarekoder.1271544.
Vancouver
1.Umutcan Turğut, Duran Güler, Sait Engindeniz. The Analysis of the Relation between Production and Price of Sunflower by Koyck Model. TJAE. 2023 Jun. 1;29(1):57-64. doi:10.24181/tarekoder.1271544

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