Türkiye’nin Başlıca Ticaret Ortaklarına Yönelik İhracat Şoklarının Kalıcılığı: Panel Durağanlık Testlerinden Bulgular

Öz

Bu çalışma, Türkiye’nin en yüksek ihracat hacmine sahip olan yirmi ülke ile gerçekleştirdiği ihracata yönelik şokların kalıcı olup olmadığını ampirik olarak incelemektedir. İhracatın şoklara verdiği tepkiler, yatay kesit bağımlılığını ve yapısal kırılmaları dikkate alan panel durağanlık testleri aracılığıyla analiz edilmektedir. Bu bağlamda, birinci ve ikinci nesil panel durağanlık testlerine ek olarak Fourier yaklaşımına dayalı yapısal kırılmalı panel durağanlık testlerinden yararlanılarak, şokların uzun dönemli etkileri kapsamlı biçimde değerlendirilmektedir. Analizde Ocak 2013–Mart 2025 dönemini kapsayan aylık veriler kullanılmakta ve Türkiye’nin en büyük yirmi ihracat ortağına ait reel ihracat serileri incelenmektedir. Ampirik bulgular, panel genelinde ihracat serisinin durağan olmadığını ve dışsal şokların kalıcı etkiler yarattığını ortaya koymaktadır. Yatay kesit bağımlılığı ve yapısal kırılmalar dikkate alındığında da bu sonucun değişmediği gözlenmektedir. Ülke bazında elde edilen sonuçlar ise ihracat şoklarının etkilerinin homojen olmadığını göstermektedir. Özellikle Almanya, Belçika, Irak, İspanya, İtalya, Rusya ve Ukrayna ile yapılan ihracatta durağanlık boş hipotezinin reddedilmesi, bu pazarlara yönelik ihracatın şoklara karşı daha kırılgan bir yapı sergilediğine işaret etmektedir. Buna karşılık bazı ülkelerde ihracat serilerinin şoklara verdiği tepkilerin geçici olduğu görülmektedir. Elde edilen bulgular, Türkiye’nin ihracata dayalı büyüme modelinde şoklara karşı yapısal kırılganlıkların varlığına işaret etmekte ve pazar çeşitlendirmesinin, ihracat kompozisyonunun iyileştirilmesini ve esnek dış ticaret politikalarının önemini vurgulamaktadır.

Anahtar Kelimeler

• İhracat şokları
• panel durağanlık
• yatay kesit bağımlılığı
• yapısal kırılmalar
• Türkiye

The Persistence of Export Shocks to Türkiye’s Major Trading Partners: Evidence from Panel Stationarity Tests

Öz

This study empirically investigates whether shocks to Türkiye’s exports to its top twenty trading partners have permanent effects. The responses of exports to shocks are analyzed using panel stationarity tests that account for cross-sectional dependence and structural breaks. In this framework, first- and second-generation panel stationarity tests, along with Fourier-based panel stationarity tests that allow for smooth structural changes, are employed to comprehensively assess the persistence of shocks. The analysis uses monthly data covering the period from January 2013 to March 2025 and examines the real export series for Türkiye’s twenty largest export destinations. The empirical findings indicate that, at the panel level, export series are non-stationary, implying that shocks exert persistent effects on Türkiye’s exports. This result remains robust after controlling cross-sectional dependence and structural breaks. Country-specific results further reveal considerable heterogeneity in the persistence of export shocks across trading partners. In particular, exports to Germany, Belgium, Iraq, Spain, Italy, Russia, and Ukraine exhibit persistent shock effects, suggesting a fragile export structure with respect to these key markets. For some other countries, however, export shocks are found to have transitory effects, indicating a faster adjustment toward long-run equilibrium. Overall, the findings highlight the presence of structural vulnerabilities in Türkiye’s export-led growth model and underscore the importance of export market diversification, improvements in export composition, and flexible trade policies to mitigate the long-term effects of shocks and enhance resilience against global economic disturbances.

Anahtar Kelimeler

• Export shocks
• panel stationarity
• cross-sectional dependence
• structural breaks
• Türkiye

Kaynakça

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