DETERMINANTS OF CAPITAL FLOWS AND TURKISH SAMPLE

Öz

In this study, the reasons of international capital flows were tried to be analyzed under push and pull factors framework and applications of the theory were imple-mented on Turkish Economy between 1992 and 2010 quarterly. The effects of the explanatory variables of Turkish international capital movements on finance ac-count of balance of payment sheet were examined by SUR model and co integration between variables were checked and error correction model were modeled. Lately, causality between variables was examined.

Anahtar Kelimeler

• Capital Flows, Finance Account, Pull and push factors, SUR, Co integration, Error Correction Model

SERMAYE HAREKETLERİNİ BELİRLEYEN FAKTÖRLER VE TÜRKİYE ÖRNEĞİ

Öz

Bu çalışmada uluslararası sermaye hareketlerinin nedenleri, iten ve çeken faktörler taslağı altında incelenmiş ve teorinin uygulaması 1992-2010 yılları arası çeyrek dönemlik verilerle Türkiye Ekonomisi üzerine yapılmıştır. Türkiye uluslararası sermaye hareketlerini açıklayan değişkenlerin ödemeler bilançosu finans hesabı üzerine etkileri, SUR ile tahmin edildikten sonra veriler arasında eş bütünleşme araştırılmış ve hata düzeltme modeli (ECM) uygulanarak, nedensellikler test edil-miştir.

Anahtar Kelimeler

• Sermaye akımları, finans hesabı, İten ve çeken faktörler, SUR, eş bütünleşme, hata düzeltme modeli

Kaynakça

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