ECONOMIC FLUCTUATIONS IN TURKISH TEXTILE AND APPAREL INDUSTRIES, 1992-2011

Year 2012, Volume: 22 Issue: 2, 73 - 76, 29.06.2012

Hasan Engin Duran

Abstract

There exists a large body of literature that deals with socio-economic aspects of textile and apparel industries and their macroeconomic development (such as economic fluctuations). We would like to contribute to the debate by addressing two important questions which adopts a different perspective: First, are textile and apparel industries less stable than other sectors in Turkey? Second, are textile and apparel industries among the leading industries that experience the economic crisis and recoveries before the national economy? Two interesting results emerge from our analysis. First, textile and apparel industries follow a more volatile growth pattern than other industries. Second, textile and apparel industries experience the economic crisis and recoveries approximately 2-9 months earlier than national economy. 

Keywords

Economic volatility, Leading industries

References

• 1. Atılgan T., Derafshi M.H. and Kanat S., 2011, “Analysis of Textile and Clothing Sector: Iran Case”, Tekstil ve Konfeksiyon, 21(3), pp: 280-284.
• 2. Aynagöz A.Ö., 2005, “Açıklanmış karşılıklı üstünlükler ve rekabet gücü: Türk Tekstil ve Hazır Giyim Endüstrisi üzerine bir uygulama”, Ege Akademik Bakış, 5(1), pp: 65-76.
• 3. Baxter M. and King R.G., 1999, “Measuring Business Cycles: Approximate Bandpass Filters”, The Review of Economics and Statistics, 81(4), pp: 575–593.
• 4. Bry G. and Boschan C., 1971, “Cyclical Analysis of Time Series: Selected Procedures and Computer Programs”, NBER Technical Paper, no:20.
• 5. Carlino, G. and DeFina, R., 2004, “How Strong is Co-Movement in Employment Over the Business Cycle?”, Journal of Urban Economics, 55(2), pp: 298-315.
• 6. Carlino, G. and DeFina, R., 1999, “Do States Respond Differently to Changes in Monetary Policy?”, Federal Reserve Bank of Philadelphia Business Review, July-August, pp: 17-27.
• 7. Carlino, G and Sill, K., 2001, “Regional Income Fluctuations: Common Trends and Common Cycles”, Review of Economics and Statistics, 83(3), pp: 446-456.
• 8. Hodrick R. and Prescott E.C., 1997, “Postwar U.S. Business Cycles: an Empirical Investigation”, Journal of Money, Credit and Banking, 29(1), pp: 1-16.
• 9. Alptekin Kayalı C., 2009, “Evaluation Financial Profitability Efficiencies of Textile Companies In 2007”, Tekstil ve Konfeksiyon, 19(1), pp: 3-8.
• 10. Park Y. and Hewings G.J.D., 2003, “Does Industry Mix Matter in Regional Business Cycles?”, Discussion Paper, REAL 03-T-29 11. Sill K., 1997, “Regional employment dynamics”, Federal Reserve Bank of Philadelphia, Working Papers, 97-28.