Türkiye’de Ticari Dışa Açıklığın Ekonomik Büyüme İlişkisi: Ekonometrik Bir Yaklaşım
Yıl 2018,
Sayı: 13, 30 - 39, 01.07.2018
M Metin Dam
A Can Bakkalcı
Öz
Ticari açıklık ve makroekonomik değişkenler arasındaki ilişkiler pek çok araştırmanın konusu olmuştur. Bu çalışmada, Türkiye’deki ticari dışa açıklık, enflasyon ve büyüme dinamikleri 1987-2016 yılları baz alınarak incelenmiştir. Çalışmada 1987-2016 yılları için kullanılan yıllık zaman serisi verileri ekonometrik modelleme konu edilmiştir. Modelde yer alan her bir değişkenin durağanlık düzeyini kontrol etmek için Genişletilmiş Dickey-Fuller ADF ve Phillips-Perron PP testleri uygulanmıştır. Değişkenler arasında eş-bütünleşme ilişkisinin tespiti için Johansen eş-bütünleşme analizleri yapılmıştır. Ampirik analiz sonucunda uzun dönemde ticari dışa açıklığın ekonomik büyüme üzerindeki etkisinin pozitif ve anlamlı olduğu sonucuna ulaşılmıştır
Kaynakça
- • Afzal, M., Malik, M. E., Butt A. R. and Kalsoom, F., (2013) Openness, Inflation and Growth Relationships in Pakistan An Application of ARDL Bounds Testing Approach, Pakistan Economic and Social Review, Volume 51, No. 1 (Summer 2013), pp. 13-53.
- • Andersen, L.T. and Babula, R. (2008), The Link Between Openness and Long-Run Economic Growth Journal of International Commerce, Economics and Policy, 1-20.
- • Aron, J. and Muellbauer, J., (2007). “Inflation Dynamics And Trade Openness: With An Application To South Africa,” CSAE Working Paper Series 2007-11, Centre for the Study of African Economies, University of Oxford.
- • Ashra, Sunil. (2002). Inflation And Openness: A Study Of Selected Developing Economies, Indian Council For Research On International Economic Relations, Working Paper No: 84.
- • Barro, Robert J. (1991). Economic Growth in a Cross Section of Countries, The Quarterly Journal of Economics, Vol. 106, No. 2. (May, 1991), pp. 407-443.
- • Bibi, S., (2014), Impact of Trade Openness, FDI, Exchange Rate and Inflation on Economic Growth: A Case Study of Pakistan, International Journal of Accounting and Financial Reporting, Vol. 4, No. 2, pp. 236-257.
- • Cadot, C., Carrère, C., Strauss, V., (2012), Trade Diversification, Income and Growth: What Do We Know, Journal of Economic Surveys Volume 27, Issue 4, https://doi.org/10.1111/j.1467- 6419.2011.00719.x
- • Capolupo, R., and Celi, G, (2008), Openness and economic growth: A comparative study of alternative trading regimes, Economie Internationale 2008/4, No: 116, pp. 5-35.
- • Cooke, D. (2010). Openness and inflation. Journal of Money, Credit and Banking, 42, 267–287. https://doi.org/10.1111/jmcb.2010.42. issue-2-3
- • Darrat, Ali F. (1999) Are Financial Deepening and Economic Growth Causality Related? Another Look at the Evidence. International Economic Journal 13:3, 19–35. https://doi. org/10.1080/10168739900000002
- • Demir, S, Tiraş, H, Coşkun, Y. (2017). The Effects of Trading and Financial Openness on Economic Growth: Turkey Case. Journal of Strategic Research in Social Science, 3 (4), pp. 147-170.
- • Dickey, D. and Fuller, W.A. (1979), “Distribution of the Estimates for Autoregressive Time Series With a Unit Root”, Journal of the American Statistical Association, 74: 427-431.
- • Edwards, S. (1998), “Openness, Productivity And Growth: What Do We Really Know?”, Economic Journal Vol: 108, Issue: 447, 383– 398. https://doi.org/10.1111/1468-0297.00293
- • Engle, R.F. and Granger, W.J. (1987): “Co-integration and Error Correction: Representation, Estimation, and Testing,” Econometrica, 55, 251–76.
- • Frankel, J. A., and Romer, D. (1999). Does Trade Cause Growth? American Economic Review, 89, 379–399. https://doi.org/10.1257/ aer.89.3.379
- • Fry, M. J. (1997) In Favour of Financial Liberalisation. Economic Journal 107, No: 442, 754–770.
- • Grossman, G. M., and Helpman, E. (1991). Innovation and Growth in The Global Economy. Cambridge: MIT Press
- • Gujarati, D. N. (1999) Temel Ekonometri, Çev. Ümit Şenesen, Gülay Günlük Şenesen, Literatür Yayıncılık, 7. Basım, Eylül 2010, İstanbul.
- • Haussmann, R., Hwang, J., & Rodrik, D. (2007). What you export matters. Journal of Economic Growth, 12, 1–25. https://doi. org/10.1007/s10887-006-9009-4
- • Helpman, E., Melitz, M., and Yeaple, S. (2004), “Export Versus FDI with Heterogeneous Firms”, American Economic Review 94(1), 300- 316.
- • Hummels, D. and Klenow, P. (2005), “The Variety and Quality of a Nation’s Exports”, American Economic Review 95, pp. 704-723.
- • Jin, Jang C. (2010) Openness and growth: an interpretation of empirical evidence from East Asian countries, The Journal of International Trade & Economic Development, 9:1, 5-17, https://doi. org/10.1080/096381900362517
- • Johansen, S. (1988), “Statistical analysis of cointegration vectors”, Journal of Economic Dynamic and Control, 12, 231-254.
- • Johansen, S. and Juselius, K. (1990). Maximum likelihood estimation and inference on cointegration with application to the demand for Money”, Oxford Bulletin of Economic and Statistics, 52, 169-210.
- • Korkmaz, T., Çevik, E. and Birkan, E. (2010). Finansal Dışa Açıklığın Ekonomik Büyüme ve Finansal Krizler Üzerine Etkisi: Türkiye Örneği, Journal of Yasar University, 17(5), pp. 2821‐2831.
- • Krugman P., and Venables, A., (1995). The Seamless World A Spatial Model of International Specialization, NBER Working Paper No: 5220.
- • Krugman, P. (1979), Increasing Returns, Monopolistic Competition, and International Trade. Journal of International Economics 9 (4), 469-479.
- • Lane, Philip. (1997). Inflation in Open Economies, Journal of International Economics, Volume 42, Issues 3–4, 1 May 1997, Pages 327-347 https://doi.org/10.1016/S0022-1996(96)01442-0
- • Levine, R. (1997) Financial Development and Economic Growth: Views and Agenda. Journal of Economic Literature Vol: 35, No: 2, 688–726.
- • Mckinnon, R. I. (1973) Money and Capital in Economic Development. Brooking Institution, Washington, D.C
- • Melitz, M. (2003), “The Impact of Trade On Intra Industry Reallocations and Aggregate Industry Productivity”, Econometrica Vol 71 (6), s. 1695-1725.
- • Melitz, M., and Ottaviano, G., (2005) “Market Size, Trade, And Productivity”, NBER Working Paper No: 11393, 2005.
- • Moosa, Imad A. (1997), Testing The Long-Run Neutrality Of Money in A Developing Economy: The Case Of India, Journal of Development Economics, Vol. 53, No. 1, p 139-155. https://doi.org/10.1016/ S0304-3878(97)00006-0
- • Özel, H, A. (2012). Küreselleşme Sürecinde Ticari Ve Finansal Açıklığın Ekonomik Büyüme Üzerine Etkisi: Türkiye Örneği, Yönetim Bilimleri Dergisi. 10, (19), ss. 1-30.
- • Perron, P. (1990). Testing For A Unit Root In A Time Series With A Changing Mean, Journal of Business & Economic Statistics, 8(2), 153-162.
- • Philips, P.C. ve Perron, P. (1988). Testing For A Unit Root In Time Series Regression. Biomètrika, 75 (2), 336-346.
- • Rodriguez, F., Rodrik, D., 2001. Trade Policy and Economic Growth: A Skeptic’s Guide to The Cross-National Evidence. In: Bernanke, B.S., Rogoff, K. (Eds.), NBER Macroeconomics Annual 2000. MIT Press, Cambridge.
- • Rodrik, D. (1996), Understanding Economic Policy Reform Journal of Economic Literature Vol. 34, No. 1 (Mar., 1996), pp. 9-41
- • Romer, D. (1993), Openness and inflation: Theory and evidence. The Quarterly Journal of Economics, Volume 108, No. 4, pp. 869-903. http://dx.doi.org/10.2307/2118453
- • Romer, P. M. (1994). The Origins Of Endogenous Growth, Journal of Economic Perspectives, Vol. 8, No. 1, winter, pp. 3-22.
- • Terra, Cristina T. (1998),’Openness and Inflation: A New Assessment’ The Quarterly Journal of Economics, Volume 113, Issue 2, 1 May 1998, Pages 641–648, https://doi.org/10.1162/003355398555603WTO
- • Türedi, S. and Berber, M. (2010). Finansal Kalkınma, Ticari Açıklık ve Ekonomik Büyüme Arasındaki İlişki: Türkiye Üzerine Bir Analiz, Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 35, ss. 301-316.
- • Ulaşan, B. (2015). Trade Openness and Economic Growth: Panel Evidence. Applied Economics Letters, 22, 163–167. https://doi.org/ 10.1080/13504851.2014.931914
- • Ümit, Ö. (2016). Türkiye’de Ticari Açıklık, Finansal Açıklık ve Ekonomik Büyüme Arasındaki İlişkiler: Sınır Testi Yaklaşımı. Niğde Üniversitesi İktisadi ve İdari Bilimler Dergisi, 9(1), ss. 255-272.
- • Utkulu, U. ve Kahyaoğlu, H. (2005), Ticari ve Finansal Dışa Açıklık Türkiye’de Büyümeyi Ne Yönde Etkiledi?, Discussion Paper, Turkish Economic Association, No. 2005/13, Turkish Economic Association, Ankara.
- • Vamvakidis, A. (2002). How Robust is the Growth-Openness Connection: Historical Evidence. Journal of Economic Growth, 7(1): 57-80.
- • Waczıarg, R. (2001). Measuring The Dynamic Gains From Trade, World Bank Economic, Review, vol. 15 (3), pp. 393–429.
- • Wang, M. (2009), Manufacturing FDI and Economic Growth: Evidence From Asian Economies, Applied Economics, Vol: 41, 8, pp, 991-1002. https://doi.org/10.1080/00036840601019059
- • Yapraklı, S. (2007). Ticari ve Finansal Dışa Açıklık İle Ekonomik Büyüme Arasındaki İlişki: Türkiye Üzerine Bir Uygulama. İstanbul Üniversitesi İktisat Fakültesi Ekonometri ve İstatistik Dergisi, 5, ss. 67-89.
- • Young, A. (1991). Learning by doing and the dynamic effects of international trade. The Quarterly Journal of Economics, 106, 369– 406. https://doi.org/10.2307/2937942
Trade Openness and Economic Growth Relationship in Turkey: An Econometric Approach
Yıl 2018,
Sayı: 13, 30 - 39, 01.07.2018
M Metin Dam
A Can Bakkalcı
Öz
The relationship between trade openness and macroeconomic variables has been a subject of many studies. This study focuses on trade openness, inflation and growth dynamics for Turkey over the period 1987–2016. We use econometric techniques for the analysis. The analysis based on yearly time series data for the period 1987 to 2016. This paper uses ADF and PP tests to find out stationarity of the variables. Johansen co-integration techniques have been used for the estimation. We conclude that the long run relationship among the variables
Kaynakça
- • Afzal, M., Malik, M. E., Butt A. R. and Kalsoom, F., (2013) Openness, Inflation and Growth Relationships in Pakistan An Application of ARDL Bounds Testing Approach, Pakistan Economic and Social Review, Volume 51, No. 1 (Summer 2013), pp. 13-53.
- • Andersen, L.T. and Babula, R. (2008), The Link Between Openness and Long-Run Economic Growth Journal of International Commerce, Economics and Policy, 1-20.
- • Aron, J. and Muellbauer, J., (2007). “Inflation Dynamics And Trade Openness: With An Application To South Africa,” CSAE Working Paper Series 2007-11, Centre for the Study of African Economies, University of Oxford.
- • Ashra, Sunil. (2002). Inflation And Openness: A Study Of Selected Developing Economies, Indian Council For Research On International Economic Relations, Working Paper No: 84.
- • Barro, Robert J. (1991). Economic Growth in a Cross Section of Countries, The Quarterly Journal of Economics, Vol. 106, No. 2. (May, 1991), pp. 407-443.
- • Bibi, S., (2014), Impact of Trade Openness, FDI, Exchange Rate and Inflation on Economic Growth: A Case Study of Pakistan, International Journal of Accounting and Financial Reporting, Vol. 4, No. 2, pp. 236-257.
- • Cadot, C., Carrère, C., Strauss, V., (2012), Trade Diversification, Income and Growth: What Do We Know, Journal of Economic Surveys Volume 27, Issue 4, https://doi.org/10.1111/j.1467- 6419.2011.00719.x
- • Capolupo, R., and Celi, G, (2008), Openness and economic growth: A comparative study of alternative trading regimes, Economie Internationale 2008/4, No: 116, pp. 5-35.
- • Cooke, D. (2010). Openness and inflation. Journal of Money, Credit and Banking, 42, 267–287. https://doi.org/10.1111/jmcb.2010.42. issue-2-3
- • Darrat, Ali F. (1999) Are Financial Deepening and Economic Growth Causality Related? Another Look at the Evidence. International Economic Journal 13:3, 19–35. https://doi. org/10.1080/10168739900000002
- • Demir, S, Tiraş, H, Coşkun, Y. (2017). The Effects of Trading and Financial Openness on Economic Growth: Turkey Case. Journal of Strategic Research in Social Science, 3 (4), pp. 147-170.
- • Dickey, D. and Fuller, W.A. (1979), “Distribution of the Estimates for Autoregressive Time Series With a Unit Root”, Journal of the American Statistical Association, 74: 427-431.
- • Edwards, S. (1998), “Openness, Productivity And Growth: What Do We Really Know?”, Economic Journal Vol: 108, Issue: 447, 383– 398. https://doi.org/10.1111/1468-0297.00293
- • Engle, R.F. and Granger, W.J. (1987): “Co-integration and Error Correction: Representation, Estimation, and Testing,” Econometrica, 55, 251–76.
- • Frankel, J. A., and Romer, D. (1999). Does Trade Cause Growth? American Economic Review, 89, 379–399. https://doi.org/10.1257/ aer.89.3.379
- • Fry, M. J. (1997) In Favour of Financial Liberalisation. Economic Journal 107, No: 442, 754–770.
- • Grossman, G. M., and Helpman, E. (1991). Innovation and Growth in The Global Economy. Cambridge: MIT Press
- • Gujarati, D. N. (1999) Temel Ekonometri, Çev. Ümit Şenesen, Gülay Günlük Şenesen, Literatür Yayıncılık, 7. Basım, Eylül 2010, İstanbul.
- • Haussmann, R., Hwang, J., & Rodrik, D. (2007). What you export matters. Journal of Economic Growth, 12, 1–25. https://doi. org/10.1007/s10887-006-9009-4
- • Helpman, E., Melitz, M., and Yeaple, S. (2004), “Export Versus FDI with Heterogeneous Firms”, American Economic Review 94(1), 300- 316.
- • Hummels, D. and Klenow, P. (2005), “The Variety and Quality of a Nation’s Exports”, American Economic Review 95, pp. 704-723.
- • Jin, Jang C. (2010) Openness and growth: an interpretation of empirical evidence from East Asian countries, The Journal of International Trade & Economic Development, 9:1, 5-17, https://doi. org/10.1080/096381900362517
- • Johansen, S. (1988), “Statistical analysis of cointegration vectors”, Journal of Economic Dynamic and Control, 12, 231-254.
- • Johansen, S. and Juselius, K. (1990). Maximum likelihood estimation and inference on cointegration with application to the demand for Money”, Oxford Bulletin of Economic and Statistics, 52, 169-210.
- • Korkmaz, T., Çevik, E. and Birkan, E. (2010). Finansal Dışa Açıklığın Ekonomik Büyüme ve Finansal Krizler Üzerine Etkisi: Türkiye Örneği, Journal of Yasar University, 17(5), pp. 2821‐2831.
- • Krugman P., and Venables, A., (1995). The Seamless World A Spatial Model of International Specialization, NBER Working Paper No: 5220.
- • Krugman, P. (1979), Increasing Returns, Monopolistic Competition, and International Trade. Journal of International Economics 9 (4), 469-479.
- • Lane, Philip. (1997). Inflation in Open Economies, Journal of International Economics, Volume 42, Issues 3–4, 1 May 1997, Pages 327-347 https://doi.org/10.1016/S0022-1996(96)01442-0
- • Levine, R. (1997) Financial Development and Economic Growth: Views and Agenda. Journal of Economic Literature Vol: 35, No: 2, 688–726.
- • Mckinnon, R. I. (1973) Money and Capital in Economic Development. Brooking Institution, Washington, D.C
- • Melitz, M. (2003), “The Impact of Trade On Intra Industry Reallocations and Aggregate Industry Productivity”, Econometrica Vol 71 (6), s. 1695-1725.
- • Melitz, M., and Ottaviano, G., (2005) “Market Size, Trade, And Productivity”, NBER Working Paper No: 11393, 2005.
- • Moosa, Imad A. (1997), Testing The Long-Run Neutrality Of Money in A Developing Economy: The Case Of India, Journal of Development Economics, Vol. 53, No. 1, p 139-155. https://doi.org/10.1016/ S0304-3878(97)00006-0
- • Özel, H, A. (2012). Küreselleşme Sürecinde Ticari Ve Finansal Açıklığın Ekonomik Büyüme Üzerine Etkisi: Türkiye Örneği, Yönetim Bilimleri Dergisi. 10, (19), ss. 1-30.
- • Perron, P. (1990). Testing For A Unit Root In A Time Series With A Changing Mean, Journal of Business & Economic Statistics, 8(2), 153-162.
- • Philips, P.C. ve Perron, P. (1988). Testing For A Unit Root In Time Series Regression. Biomètrika, 75 (2), 336-346.
- • Rodriguez, F., Rodrik, D., 2001. Trade Policy and Economic Growth: A Skeptic’s Guide to The Cross-National Evidence. In: Bernanke, B.S., Rogoff, K. (Eds.), NBER Macroeconomics Annual 2000. MIT Press, Cambridge.
- • Rodrik, D. (1996), Understanding Economic Policy Reform Journal of Economic Literature Vol. 34, No. 1 (Mar., 1996), pp. 9-41
- • Romer, D. (1993), Openness and inflation: Theory and evidence. The Quarterly Journal of Economics, Volume 108, No. 4, pp. 869-903. http://dx.doi.org/10.2307/2118453
- • Romer, P. M. (1994). The Origins Of Endogenous Growth, Journal of Economic Perspectives, Vol. 8, No. 1, winter, pp. 3-22.
- • Terra, Cristina T. (1998),’Openness and Inflation: A New Assessment’ The Quarterly Journal of Economics, Volume 113, Issue 2, 1 May 1998, Pages 641–648, https://doi.org/10.1162/003355398555603WTO
- • Türedi, S. and Berber, M. (2010). Finansal Kalkınma, Ticari Açıklık ve Ekonomik Büyüme Arasındaki İlişki: Türkiye Üzerine Bir Analiz, Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 35, ss. 301-316.
- • Ulaşan, B. (2015). Trade Openness and Economic Growth: Panel Evidence. Applied Economics Letters, 22, 163–167. https://doi.org/ 10.1080/13504851.2014.931914
- • Ümit, Ö. (2016). Türkiye’de Ticari Açıklık, Finansal Açıklık ve Ekonomik Büyüme Arasındaki İlişkiler: Sınır Testi Yaklaşımı. Niğde Üniversitesi İktisadi ve İdari Bilimler Dergisi, 9(1), ss. 255-272.
- • Utkulu, U. ve Kahyaoğlu, H. (2005), Ticari ve Finansal Dışa Açıklık Türkiye’de Büyümeyi Ne Yönde Etkiledi?, Discussion Paper, Turkish Economic Association, No. 2005/13, Turkish Economic Association, Ankara.
- • Vamvakidis, A. (2002). How Robust is the Growth-Openness Connection: Historical Evidence. Journal of Economic Growth, 7(1): 57-80.
- • Waczıarg, R. (2001). Measuring The Dynamic Gains From Trade, World Bank Economic, Review, vol. 15 (3), pp. 393–429.
- • Wang, M. (2009), Manufacturing FDI and Economic Growth: Evidence From Asian Economies, Applied Economics, Vol: 41, 8, pp, 991-1002. https://doi.org/10.1080/00036840601019059
- • Yapraklı, S. (2007). Ticari ve Finansal Dışa Açıklık İle Ekonomik Büyüme Arasındaki İlişki: Türkiye Üzerine Bir Uygulama. İstanbul Üniversitesi İktisat Fakültesi Ekonometri ve İstatistik Dergisi, 5, ss. 67-89.
- • Young, A. (1991). Learning by doing and the dynamic effects of international trade. The Quarterly Journal of Economics, 106, 369– 406. https://doi.org/10.2307/2937942