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AN EMPIRICAL ANALYSIS ON THE STRUCTURAL CHANGE OF THE TURKISH ECONOMY

Yıl 2025, Cilt: 7 Sayı: 1, 1 - 21, 05.05.2025

Öz

Through computation and the extension of the data set from 1987 to 2016, as well as the evaluation of economic changes prior to and after the 2001 crisis, this study attempts to analyze and report real business cycle facts of the Turkish economy. The results of real business cycle fact for real GDP, private consumption, export and import after 2001 crisis indicate that Turkish economy is performing better than prior to it due to structural change occurred.
The 2001 crisis was known mostly to be the result of the combined effects of many populist and non-independent institutional policies, such as fiscal and monetary policies, exchange rate policy, excessive debt and lack of competitiveness. Due to sound economic reforms implemented after the 2001 crisis, Turkish economy not only avoided the 2008 global financial crisis, but also had a strong and stable financial sector and institutions.

Kaynakça

  • Akkoyun et al. (2014). "Business Cycle Synchronization of Turkey with the Eurozone and the United States: What Has Changed Since 2001?" Emerging Markets Finance & Trade, 50(4), 26–41.
  • Alp et al. (2012). "Stylized Facts for Business Cycles in Turkey," Working Papers 1202, Research and Monetary Policy Department, Central Bank of the Republic of Turkey
  • Alper, C. E. (2002). “Stylized facts of business cycles, excess volatility and capital flows: Evidence from Mexico and Türkiye”. Russian and East European Finance and Trade, 38(4), 22-54.
  • Aslan, Ö. ve Korap, L. (2006). “An essay upon business cycle facts: The Turkish case”. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi, 16, Aralık.
  • Backus, D. K., Kehoe, P. J. ve Kydland, F. E. (1992). “International real business cycles”. The Journal of Political Economy, 100(4), 745-775.
  • Bari, Bilgin and Siklar, İlyas (2018), "Analysis of Business Cycles in Turkish Economy," Journal of Current Researches on Business and Economics , vol.8, no.1, pp.53-61 Bekaert, G., Harvey, C. R. ve Lundblad, C. (2004). “Growth volatility and financial liberalization”. National Bureau of Economic Research. http://www.nber.org/papers/w10560
  • Berument, H., Kilinç, Z. ve Yücel, E. M. (2004). “Business cycles in Türkiye and European Union countries: A perspective to the membership”. Bilkent University. http://berument.bilkent.edu.tr/jec02.pdf (Erişim tarihi: 7 Mayıs 2019)
  • Blanchard, O. J. ve Quah, D. (1989). “The dynamic effects of aggregate demand and supply disturbances”. American Economic Review, 79(4), 655-673.
  • Burns, A. ve Mitchell, W. C. (1946). “Measuring business cycles”. New York: National Bureau of Economic Research.
  • Chadha, B. ve Prasad, E. (1994). “Are prices countercyclical? Evidence from the G-7”. Journal of Monetary Economics, 34(2), 239-257.
  • Christodoulakis, N., Dimelis, S. ve Kollintzas, T. (1995). “Comparisons of business cycles in the EC: Idiosyncrasies and regularities”. Economica, 62(245), 1-27.
  • Clark, J. M. (1917). “Business acceleration and the law of demand: A technical factor in economic cycles”. Journal of Political Economy, 25(3), 217-235.
  • Cooley, T. F. ve Ohanian, L. E. (1991). “The cyclical behavior of prices”. Journal of Monetary Economics, 28(1), 25-60.
  • Fiorito, R. (1997). “Stylized facts of government finance in the G-7”. IMF Working Papers, 97/142.
  • Fiorito, R. ve Kollintzas, T. (1994). “Stylized facts of business cycles in the G-7 from a real business cycles perspective”. European Economic Review, 38(2), 235-269.
  • Hodrick, R. J. ve Prescott, E. C. (1997). “Postwar U.S. business cycles: An empirical investigation”. Journal of Money, Credit and Banking, 29(1), 1-16.
  • King, R. ve Rebelo, S. (1993). “Low frequency filtering and real business cycles”. Journal of Economic Dynamics and Control, 17(1-2), 207-231.
  • King, R. G. ve Plosser, C. I. (1984). “Money, credit and prices in a real business cycle. American Economic Review”, 74(3), 363-380.
  • Kydland, F. E. ve Prescott, E. C. (1982). “Time to build and aggregate fluctuations”. Econometrica, 50(6), 1345-1370. http://www.jstor.org/stable/1913386
  • Kydland, F. E. ve Prescott, E. C. (1990). “Business cycles: Real facts and a monetary myth”. Federal Reserve Bank of Minneapolis Quarterly Review, 14(2), 3-18.
  • Kydland, F. E. ve Zarazaga, C. E. J. M. (1997). “Is the business cycle of Argentina different?” Federal Reserve Bank of Dallas Economic Review, 4, 21-36.
  • Long, J. B. ve Plosser, C. I. (1983). “Real business cycles”. Journal of Political Economy, 91(1), 39-69.
  • Lucas, R. (1977). “Understanding business cycles”. In K. Brunner ve A. H. Meltzer (Eds.), Stabilization of the domestic and international economy (pp. 7-29). Amsterdam: North-Holland.
  • Mitchell, W. C. (1913). “Business cycles”. Berkeley: University of California Press.
  • Mitchell, W. C. (1927). “Business cycles: The problem and its setting”. New York: National Bureau of Economic Research.
  • Muth, J. F. (1961). “Rational expectations and the theory of price movements”. Econometrica, 29(3), 315-335.
  • Neumeyer, P. A. ve Perri, F. (2005). “Business cycles in emerging economies: The role of interest rates”. Journal of Monetary Economics, 52(2), 345-380.
  • Plosser, C. I. (1989).” Understanding real business cycles”. The Journal of Economic Perspectives, 3(3), 51-77.
  • Prescott, E. C. (1986). “Theory ahead of business cycle measurement”. Quarterly Review of Federal Reserve Bank of Minneapolis, 10(4), 9-21.
  • Schumpeter, J. (1939). “Business cycles”. New York: McGraw-Hill. Retrieved from http://classiques.uqac.ca/classiques/Schumpeter_joseph/business_cycles/schumpeter_business_cycles.pdf
  • Serletis, A., & Krause, D. (1996). “Nominal stylized facts of U. S. business cycles”. Review of Federal Reserve Bank of St. Louis, July, 49-54.
  • Tastan, H., (2013). "Real business cycles in emerging economies: Turkish case". Economic Modelling, vol.34, 106-113.
  • Wicksell, K. (1901). “Lectures on political economy”. New York: Augustus M. Kelly.

TÜRKİYE EKONOMİSİNDEKİ YAPISAL DEĞİŞİM ÜZERİNE AMPİRİK BİR ANALİZ

Yıl 2025, Cilt: 7 Sayı: 1, 1 - 21, 05.05.2025

Öz

Bu çalışma, 1987'den 2016'ya kadar olan veri setinin hesaplanması ve genişletilmesinin yanı sıra, 2001 krizi öncesi ve sonrası ekonomik değişimlerin değerlendirilmesi yoluyla, Türk ekonomisinin reel iş döngüsü gerçeklerini analiz etmeyi ve raporlamayı amaçlamıştır. 2001 krizi sonrası reel GSYİH, özel tüketim, ihracat ve ithalat için reel iş döngüsü gerçeğinin sonuçları, yapısal değişim nedeniyle Türk ekonomisinin öncesine göre daha iyi performansa sahip olduğunu göstermektedir.
2001 krizi çoğunlukla mali ve parasal politikalar, döviz kuru politikası, aşırı borçlanma ve rekabet eksikliği gibi birçok popülist ve bağımsız olmayan kurumlar tarafından yürütülen politikaların birleşik etkilerinin sonucu olarak bilinmektedir. 2001 krizinden sonra uygulanan sağlam ekonomik reformlar sayesinde, Türk ekonomisi sadece 2008 küresel mali krizini atlatmakla kalmamış, aynı zamanda güçlü ve istikrarlı bir mali sektöre ve kurumlara da sahip olmuştur.

Kaynakça

  • Akkoyun et al. (2014). "Business Cycle Synchronization of Turkey with the Eurozone and the United States: What Has Changed Since 2001?" Emerging Markets Finance & Trade, 50(4), 26–41.
  • Alp et al. (2012). "Stylized Facts for Business Cycles in Turkey," Working Papers 1202, Research and Monetary Policy Department, Central Bank of the Republic of Turkey
  • Alper, C. E. (2002). “Stylized facts of business cycles, excess volatility and capital flows: Evidence from Mexico and Türkiye”. Russian and East European Finance and Trade, 38(4), 22-54.
  • Aslan, Ö. ve Korap, L. (2006). “An essay upon business cycle facts: The Turkish case”. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi, 16, Aralık.
  • Backus, D. K., Kehoe, P. J. ve Kydland, F. E. (1992). “International real business cycles”. The Journal of Political Economy, 100(4), 745-775.
  • Bari, Bilgin and Siklar, İlyas (2018), "Analysis of Business Cycles in Turkish Economy," Journal of Current Researches on Business and Economics , vol.8, no.1, pp.53-61 Bekaert, G., Harvey, C. R. ve Lundblad, C. (2004). “Growth volatility and financial liberalization”. National Bureau of Economic Research. http://www.nber.org/papers/w10560
  • Berument, H., Kilinç, Z. ve Yücel, E. M. (2004). “Business cycles in Türkiye and European Union countries: A perspective to the membership”. Bilkent University. http://berument.bilkent.edu.tr/jec02.pdf (Erişim tarihi: 7 Mayıs 2019)
  • Blanchard, O. J. ve Quah, D. (1989). “The dynamic effects of aggregate demand and supply disturbances”. American Economic Review, 79(4), 655-673.
  • Burns, A. ve Mitchell, W. C. (1946). “Measuring business cycles”. New York: National Bureau of Economic Research.
  • Chadha, B. ve Prasad, E. (1994). “Are prices countercyclical? Evidence from the G-7”. Journal of Monetary Economics, 34(2), 239-257.
  • Christodoulakis, N., Dimelis, S. ve Kollintzas, T. (1995). “Comparisons of business cycles in the EC: Idiosyncrasies and regularities”. Economica, 62(245), 1-27.
  • Clark, J. M. (1917). “Business acceleration and the law of demand: A technical factor in economic cycles”. Journal of Political Economy, 25(3), 217-235.
  • Cooley, T. F. ve Ohanian, L. E. (1991). “The cyclical behavior of prices”. Journal of Monetary Economics, 28(1), 25-60.
  • Fiorito, R. (1997). “Stylized facts of government finance in the G-7”. IMF Working Papers, 97/142.
  • Fiorito, R. ve Kollintzas, T. (1994). “Stylized facts of business cycles in the G-7 from a real business cycles perspective”. European Economic Review, 38(2), 235-269.
  • Hodrick, R. J. ve Prescott, E. C. (1997). “Postwar U.S. business cycles: An empirical investigation”. Journal of Money, Credit and Banking, 29(1), 1-16.
  • King, R. ve Rebelo, S. (1993). “Low frequency filtering and real business cycles”. Journal of Economic Dynamics and Control, 17(1-2), 207-231.
  • King, R. G. ve Plosser, C. I. (1984). “Money, credit and prices in a real business cycle. American Economic Review”, 74(3), 363-380.
  • Kydland, F. E. ve Prescott, E. C. (1982). “Time to build and aggregate fluctuations”. Econometrica, 50(6), 1345-1370. http://www.jstor.org/stable/1913386
  • Kydland, F. E. ve Prescott, E. C. (1990). “Business cycles: Real facts and a monetary myth”. Federal Reserve Bank of Minneapolis Quarterly Review, 14(2), 3-18.
  • Kydland, F. E. ve Zarazaga, C. E. J. M. (1997). “Is the business cycle of Argentina different?” Federal Reserve Bank of Dallas Economic Review, 4, 21-36.
  • Long, J. B. ve Plosser, C. I. (1983). “Real business cycles”. Journal of Political Economy, 91(1), 39-69.
  • Lucas, R. (1977). “Understanding business cycles”. In K. Brunner ve A. H. Meltzer (Eds.), Stabilization of the domestic and international economy (pp. 7-29). Amsterdam: North-Holland.
  • Mitchell, W. C. (1913). “Business cycles”. Berkeley: University of California Press.
  • Mitchell, W. C. (1927). “Business cycles: The problem and its setting”. New York: National Bureau of Economic Research.
  • Muth, J. F. (1961). “Rational expectations and the theory of price movements”. Econometrica, 29(3), 315-335.
  • Neumeyer, P. A. ve Perri, F. (2005). “Business cycles in emerging economies: The role of interest rates”. Journal of Monetary Economics, 52(2), 345-380.
  • Plosser, C. I. (1989).” Understanding real business cycles”. The Journal of Economic Perspectives, 3(3), 51-77.
  • Prescott, E. C. (1986). “Theory ahead of business cycle measurement”. Quarterly Review of Federal Reserve Bank of Minneapolis, 10(4), 9-21.
  • Schumpeter, J. (1939). “Business cycles”. New York: McGraw-Hill. Retrieved from http://classiques.uqac.ca/classiques/Schumpeter_joseph/business_cycles/schumpeter_business_cycles.pdf
  • Serletis, A., & Krause, D. (1996). “Nominal stylized facts of U. S. business cycles”. Review of Federal Reserve Bank of St. Louis, July, 49-54.
  • Tastan, H., (2013). "Real business cycles in emerging economies: Turkish case". Economic Modelling, vol.34, 106-113.
  • Wicksell, K. (1901). “Lectures on political economy”. New York: Augustus M. Kelly.
Toplam 33 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular Uygulamalı Makro Ekonometri
Bölüm Makaleler
Yazarlar

Sadık Yıldırım 0009-0008-0606-5071

Erdal Tanas Karagöl 0000-0003-0803-4064

Erken Görünüm Tarihi 21 Mayıs 2025
Yayımlanma Tarihi 5 Mayıs 2025
Gönderilme Tarihi 24 Aralık 2024
Kabul Tarihi 11 Ocak 2025
Yayımlandığı Sayı Yıl 2025 Cilt: 7 Sayı: 1

Kaynak Göster

APA Yıldırım, S., & Karagöl, E. T. (2025). AN EMPIRICAL ANALYSIS ON THE STRUCTURAL CHANGE OF THE TURKISH ECONOMY. Uygulamalı Ekonomi ve Sosyal Bilimler Dergisi, 7(1), 1-21. https://doi.org/10.46959/jeess.1606879