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Balassa-Samuelson Hipotezinin İçsel Aktarım Mekanizmasının Türkiye Ekonomisi İçin Test Edilmesi

Yıl 2015, Cilt: 19 Sayı: 2, 81 - 99, 31.12.2015

Öz

Bu çalışmanın amacı, Türkiye ekonomisi ve EU-27 bölgesi arasında Balassa-Samuelson (B-S) (1964) hipotezinin içsel
aktarım mekanizmasını 2001:Q1-2014:Q1 dönemini kapsayan veri seti ile Gecikmesi Dağıtılmış Ardışık Bağımlı
Modeller Analizi (ARDL) sınır testi yaklaşımını kullanılarak sınamaktır. Sonuçlar, B-S hipotezinin içsel aktarım
mekanizmasını desteklemektedir. 2001 sonrasında, Türkiye ve EU-27 arasında, göreceli fiyat farklılığındaki artışın
göreceli verimlilik farklılığındaki artıştan kaynaklandığı sonucuna ulaşılmıştır. 

Kaynakça

  • Alberola, E. & Tyrväinen, T. (1998). Is There Scope for Inflation Differentials in EMU? An Empirical Evaluation of the Balassa-Samuelson Model in EMU Countries. Bank of Spain Working Paper, No. 9823.
  • Asea, P. & Mendoza, E. (1994), The Balassa-Samuelson Model: A General Equilibrium Appraisal, Review of International Economics, 2 (3), 244-267.
  • Balassa, B. (1964). Purchasing Power Parity Doctrin: A Reappraisal, The Jourmal of Political Economy, 72, 584-596.
  • Bayram, T. (2007). Balassa Samuelson Model Revisited: Growth Productivity Effect & Capital Accumulation. International Research Journal Financial Economics, 9, 144-155.
  • Bergstrand, J.H., (1991). Structural Determinants of Real Exchange Rates and National Price Levels: Some Empirical Evidence. American Economic Review, 81, 325– 334.
  • Bhagwati, J. N. (1984). Why are services cheaper in the poor Countries. The Economic Journal, 94, 279-286.
  • Coudert, V. (2004). Measuring the Balassa-Samuelson Effect for the Countries of Central and Eastern?, Banque DeFrance Bulletein, 122.
  • Çeliku E. & Hoxholli, R. (2007). An Estimation of Balassa Samuleson Effect in Albania, Bank of Albania.
  • DeGregorio, J. , Giovannini, A. ve Wolf, H. (1994). International Evidence on Tradables and Nontradables Inflation, European Economic Review, 38, 1225- 1224.
  • Dimutru, I. & Jianu I. (2009). The Balassa Samuelson Effect in Romenia: The Role of Regulated Prices, European Journal of Operational Resaerch,194, 873-887.
  • Égert, B. (2003). Nominal and Real Convergence in Estonia The Balassa-Samuelson (dis)connection. William Davidson Institute Working Papers, 556.
  • Égert, B. , Halpern, L. & MacDonald R. (2006). Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues. Journal of Economic Surveys, 20(2), 257-324.
  • Enflasyon Görünümü Raporu II, (2006). Türkiye Cumhuriyeti Merkez Bankası
  • Funda, J, Lukinic, G. & Ljubaj, I. (2007). Assessment of the Balassa-Samuelson Effect in Croartia, Financial Theory and Practice, 31, 4, 321-351.
  • Halpern, L, ve Wyplosz, C. (2001). Economic Transformation and Real Exchange Rates in the 2000s: The Balassa-Samuelson Connection. Geneve: UN/ECE.
  • Isard, P. (1995). Exchange Rate Economics, England: Cambridge University Press.
  • Harrod, R. F. (1933). International Economics, Nisbet & Cambridge University Press.
  • Juselius, K. & Ordóñez, J. (2009). Balassa-Samuelson and Wage, Price and Unemployment Dynamics in the Spanish Transition to EMU Membership, The Open Access, Open Assessment E Journal, 3, 1-30.
  • Kakkar, V. (2003). The Relative Price of Nontraded Goods and Sectoral Total Factor Productivity: An Emprical Investigation. The Review of Economics and Statics, 85(2), 444-452.
  • Kastimi, M. (2004). Inflation Divergence in the Euro Area: The Balassa Sameulson Effect. Applied Economic Letters, 11(5), 329-332.
  • Kohler, M., 2000. The Balassa–Samuelson effect and monetary targets. In: Mahadeva, L., Sterne, G. (Eds.), Monetary Frameworks in a Global Context. Bank of England and Routledge, London, 354–390.
  • Kravis,I., B. & Lipsey, R., E. (1982), Towards an Explanation of National Price Levels NBER Working Paper,1034, 1-49.
  • Lojschova, A. (2003). Estimating the Impact of the Balassa-Samuelson Effect in Transition Economies. Vienna: Institute for Advanced Studies.
  • Lommatzch, K. & Tober, S. (2004), What is behind the Real Appreaciation of the Accession Countries’ Currencies? An Investigation of the PPI-based Real Exchange Rate, Economic Systems, 28, 383-403.
  • Lommatzch, K. & Tober, S. (2006). Euro-Area Inflation: Does the Balassa-Samuelson Effect Matter?, International Economics and Economic Policy. 3(2), 105-136.
  • Masten, I. (2007). Inflation targeting in presence of Balassa-Samuelson-type productivity shocks. Available at SSRN 967650.
  • Mihaljek, D. & Klau, M. (2008), Catching-up and Inflation in Transition Economies:The Balassa-Samuelson Effect Revisited, BIS Working Papers, 270.1-23.
  • Ng, S., & Perron, P. (2001). Lag length selection and the construction of unit root tests with good size and power. Econometrica, 1519-1554.
  • Obstfeld, M. & Rogoff K. (1996). Foundations of International Macroeconomics, Cambridge, MA: The MIT Press.
  • Pesaran, M. H. , Shin, Y. ve Smith, R. J. (2001). Bound Testing Approaches to the Analysis of Long-Run Relationships. Journal of Applied Econometrics, 16, 289-326.
  • Rogoff, R. (1992). Traded Goods Consumption Smoothing and the Random Walk Behavior of the Real Exchange Rate. NBER Working Papers Series, 4119, 1–34.
  • Samuelson, P. A. (1964). Theoretical Notes on Trade Problems, Review of Economics and Statistics, 46, 2, 145-54.
  • Tica, J. & Druzic, I. (2006). The Harrod-Balassa-Samuelson Effect: A Survey of Emprical Evidence, FEB Working Papers, 0607, 1-37.
Yıl 2015, Cilt: 19 Sayı: 2, 81 - 99, 31.12.2015

Öz

Kaynakça

  • Alberola, E. & Tyrväinen, T. (1998). Is There Scope for Inflation Differentials in EMU? An Empirical Evaluation of the Balassa-Samuelson Model in EMU Countries. Bank of Spain Working Paper, No. 9823.
  • Asea, P. & Mendoza, E. (1994), The Balassa-Samuelson Model: A General Equilibrium Appraisal, Review of International Economics, 2 (3), 244-267.
  • Balassa, B. (1964). Purchasing Power Parity Doctrin: A Reappraisal, The Jourmal of Political Economy, 72, 584-596.
  • Bayram, T. (2007). Balassa Samuelson Model Revisited: Growth Productivity Effect & Capital Accumulation. International Research Journal Financial Economics, 9, 144-155.
  • Bergstrand, J.H., (1991). Structural Determinants of Real Exchange Rates and National Price Levels: Some Empirical Evidence. American Economic Review, 81, 325– 334.
  • Bhagwati, J. N. (1984). Why are services cheaper in the poor Countries. The Economic Journal, 94, 279-286.
  • Coudert, V. (2004). Measuring the Balassa-Samuelson Effect for the Countries of Central and Eastern?, Banque DeFrance Bulletein, 122.
  • Çeliku E. & Hoxholli, R. (2007). An Estimation of Balassa Samuleson Effect in Albania, Bank of Albania.
  • DeGregorio, J. , Giovannini, A. ve Wolf, H. (1994). International Evidence on Tradables and Nontradables Inflation, European Economic Review, 38, 1225- 1224.
  • Dimutru, I. & Jianu I. (2009). The Balassa Samuelson Effect in Romenia: The Role of Regulated Prices, European Journal of Operational Resaerch,194, 873-887.
  • Égert, B. (2003). Nominal and Real Convergence in Estonia The Balassa-Samuelson (dis)connection. William Davidson Institute Working Papers, 556.
  • Égert, B. , Halpern, L. & MacDonald R. (2006). Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues. Journal of Economic Surveys, 20(2), 257-324.
  • Enflasyon Görünümü Raporu II, (2006). Türkiye Cumhuriyeti Merkez Bankası
  • Funda, J, Lukinic, G. & Ljubaj, I. (2007). Assessment of the Balassa-Samuelson Effect in Croartia, Financial Theory and Practice, 31, 4, 321-351.
  • Halpern, L, ve Wyplosz, C. (2001). Economic Transformation and Real Exchange Rates in the 2000s: The Balassa-Samuelson Connection. Geneve: UN/ECE.
  • Isard, P. (1995). Exchange Rate Economics, England: Cambridge University Press.
  • Harrod, R. F. (1933). International Economics, Nisbet & Cambridge University Press.
  • Juselius, K. & Ordóñez, J. (2009). Balassa-Samuelson and Wage, Price and Unemployment Dynamics in the Spanish Transition to EMU Membership, The Open Access, Open Assessment E Journal, 3, 1-30.
  • Kakkar, V. (2003). The Relative Price of Nontraded Goods and Sectoral Total Factor Productivity: An Emprical Investigation. The Review of Economics and Statics, 85(2), 444-452.
  • Kastimi, M. (2004). Inflation Divergence in the Euro Area: The Balassa Sameulson Effect. Applied Economic Letters, 11(5), 329-332.
  • Kohler, M., 2000. The Balassa–Samuelson effect and monetary targets. In: Mahadeva, L., Sterne, G. (Eds.), Monetary Frameworks in a Global Context. Bank of England and Routledge, London, 354–390.
  • Kravis,I., B. & Lipsey, R., E. (1982), Towards an Explanation of National Price Levels NBER Working Paper,1034, 1-49.
  • Lojschova, A. (2003). Estimating the Impact of the Balassa-Samuelson Effect in Transition Economies. Vienna: Institute for Advanced Studies.
  • Lommatzch, K. & Tober, S. (2004), What is behind the Real Appreaciation of the Accession Countries’ Currencies? An Investigation of the PPI-based Real Exchange Rate, Economic Systems, 28, 383-403.
  • Lommatzch, K. & Tober, S. (2006). Euro-Area Inflation: Does the Balassa-Samuelson Effect Matter?, International Economics and Economic Policy. 3(2), 105-136.
  • Masten, I. (2007). Inflation targeting in presence of Balassa-Samuelson-type productivity shocks. Available at SSRN 967650.
  • Mihaljek, D. & Klau, M. (2008), Catching-up and Inflation in Transition Economies:The Balassa-Samuelson Effect Revisited, BIS Working Papers, 270.1-23.
  • Ng, S., & Perron, P. (2001). Lag length selection and the construction of unit root tests with good size and power. Econometrica, 1519-1554.
  • Obstfeld, M. & Rogoff K. (1996). Foundations of International Macroeconomics, Cambridge, MA: The MIT Press.
  • Pesaran, M. H. , Shin, Y. ve Smith, R. J. (2001). Bound Testing Approaches to the Analysis of Long-Run Relationships. Journal of Applied Econometrics, 16, 289-326.
  • Rogoff, R. (1992). Traded Goods Consumption Smoothing and the Random Walk Behavior of the Real Exchange Rate. NBER Working Papers Series, 4119, 1–34.
  • Samuelson, P. A. (1964). Theoretical Notes on Trade Problems, Review of Economics and Statistics, 46, 2, 145-54.
  • Tica, J. & Druzic, I. (2006). The Harrod-Balassa-Samuelson Effect: A Survey of Emprical Evidence, FEB Working Papers, 0607, 1-37.
Toplam 33 adet kaynakça vardır.

Ayrıntılar

Bölüm Araştırma Makaleleri
Yazarlar

Almila Burgaç Çil Bu kişi benim

Yayımlanma Tarihi 31 Aralık 2015
Gönderilme Tarihi 1 Aralık 2015
Kabul Tarihi 31 Aralık 2015
Yayımlandığı Sayı Yıl 2015 Cilt: 19 Sayı: 2

Kaynak Göster

APA Burgaç Çil, A. (2015). Balassa-Samuelson Hipotezinin İçsel Aktarım Mekanizmasının Türkiye Ekonomisi İçin Test Edilmesi. Çukurova Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, 19(2), 81-99.