Yükselen Nijerya Ekonomisinde Ev Fiyatları Getirilerinin Enflasyondan Korunma Kapasitesi

Öz

Öz: Enflasyon riskine karşı koruyucu bir araç olarak konut sahipliği Nijerya’nı başenti Abuja

içn araşıımışı. Araşımada beşyerleşm bögesindeki konutlar seçldi. Daha öceki çlışalar

kıa döemde konut sahipliğnin enflasyon riskini en küçü kareler yöteminin kullanarak ve kıa

döem içn araşımışardı Bu çlışa kıa ve uzun döemde konut getirilerinin ensflasyondan

korunma kapasitesini araşımaktadı. Çlışa kıa döem enflasyonist etkiyi ölçmek için en

küçük kareler yöntemini, ADF durağanlık testini ve uzun dönem etkisini ölçmek için de Engel

Granger koentegrasyon testini kullanmıştır. Sonuçlar kısa dönemde konut piyasasının

enflasyondan korunma sağlamadığını ortaya koymuştur. Koentegrasyon regresyon sonucuna göre,

uzun döenmde konut piyasasında tam bir korunma sağlandığı ve etkinin de 72,1 % - 88,2 %

aralığında olduğu hesaplanmıştır.

Anahtar Kelimeler: Konut fiyat getirileri, gerçek enflasyon, beklenen enflasyon, beklenmeyen

enflasyon

Anahtar Kelimeler

• Konut fiyat getirileri,gerçek enflasyon,beklenen enflasyon

Inflationary Hedging Capacity of House Price Returns in Emerging Economy of Nigeria

Öz

Abstract: Property asset as a protective devise against the risk of inflation is investigated in the

Capital city of Nigeria (Abuja). Five residential housing zones were selected for the study. the

general use of ordinary least squares by the previous studies has been faulted on the ground that it

can only offer short term inflationary characteristics in the housing market. This study further

identified inflationary hedging capacity of house return by examining both short run and long run

inflationary characteristics in Abuja housing market. The study utilized Ordinary least squares (to

show short run inflationary characteristics), Augmented Dicker Fuller (ADF) to test is used to test

for the stationarity in the data, Engle Granger cointegration to establish long run relationships and

cointegrating regression analysis to establish long run inflationary characteristics in Abuja

Housing Market. The result FMOLS revealed that housing markets failed to provide a complete

hedge across all the markets against dirt of inflation within a possible short run. The result of

cointegating regression revealed that housing market provide a complete hedge across all the

market in the long run, and the overall market influence is between 88.2%-72.1%.

Keywords: House price returns, actual inflation, expected inflation, unexpected inflation

Anahtar Kelimeler

• House price returns,actual inflation,expected inflation

Kaynakça

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