THE NEXUS BETWEEN CENTRAL BANK INDEPENDANCY AND INFLATION: A TIME SERIES ANALYSIS OF THE TURKISH ECONOMY

Ahmet Beşkaya; Erdem Güdenoğlu

EN TR

THE NEXUS BETWEEN CENTRAL BANK INDEPENDANCY AND INFLATION: A TIME SERIES ANALYSIS OF THE TURKISH ECONOMY

Öz

The aim of this study is to discuss and analyse the relationship between central bank independency and inflation in the case of Turkey. In order to achieve this goal, Johansen’s approach to cointegration analysis is employed and the vector error correction model of the same approach is applied by using the annual data of Turkey covering the period of 1970-2012.

The estimation results show that there exist a strong negative relationship between central bank independency and inflation both in short run and long run. That is, increasing level of central bank independency decreases the inflation rate in Turkey. Therefore, our study supports the dominant view in the literature that independent central banks more successful in combating inflation.

Anahtar Kelimeler

Central Bank Independency, Inflation, Johansen’s Cointegration Analysis, Vector Error Correction Model.

Kaynakça

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Ayrıntılar

Birincil Dil

İngilizce

Konular

-

Bölüm

-

Yazarlar

Ahmet Beşkaya

Erdem Güdenoğlu

Yayımlanma Tarihi

9 Temmuz 2014

Gönderilme Tarihi

24 Eylül 2014

Kabul Tarihi

-

Yayımlandığı Sayı

Yıl 2014 Cilt: 1 Sayı: 2

IZ

https://izlik.org/JA94XB79XH

APA

Beşkaya, A., & Güdenoğlu, E. (2014). THE NEXUS BETWEEN CENTRAL BANK INDEPENDANCY AND INFLATION: A TIME SERIES ANALYSIS OF THE TURKISH ECONOMY. Bankacılık ve Finansal Araştırmalar Dergisi, 1(2), 43-66. https://izlik.org/JA94XB79XH

AMA

1.Beşkaya A, Güdenoğlu E. THE NEXUS BETWEEN CENTRAL BANK INDEPENDANCY AND INFLATION: A TIME SERIES ANALYSIS OF THE TURKISH ECONOMY. BAFAD. 2014;1(2):43-66. https://izlik.org/JA94XB79XH

Chicago

Beşkaya, Ahmet, ve Erdem Güdenoğlu. 2014. “THE NEXUS BETWEEN CENTRAL BANK INDEPENDANCY AND INFLATION: A TIME SERIES ANALYSIS OF THE TURKISH ECONOMY”. Bankacılık ve Finansal Araştırmalar Dergisi 1 (2): 43-66. https://izlik.org/JA94XB79XH.

EndNote

Beşkaya A, Güdenoğlu E (01 Temmuz 2014) THE NEXUS BETWEEN CENTRAL BANK INDEPENDANCY AND INFLATION: A TIME SERIES ANALYSIS OF THE TURKISH ECONOMY. Bankacılık ve Finansal Araştırmalar Dergisi 1 2 43–66.

IEEE

[1]A. Beşkaya ve E. Güdenoğlu, “THE NEXUS BETWEEN CENTRAL BANK INDEPENDANCY AND INFLATION: A TIME SERIES ANALYSIS OF THE TURKISH ECONOMY”, BAFAD, c. 1, sy 2, ss. 43–66, Tem. 2014, [çevrimiçi]. Erişim adresi: https://izlik.org/JA94XB79XH

ISNAD

Beşkaya, Ahmet - Güdenoğlu, Erdem. “THE NEXUS BETWEEN CENTRAL BANK INDEPENDANCY AND INFLATION: A TIME SERIES ANALYSIS OF THE TURKISH ECONOMY”. Bankacılık ve Finansal Araştırmalar Dergisi 1/2 (01 Temmuz 2014): 43-66. https://izlik.org/JA94XB79XH.

JAMA

1.Beşkaya A, Güdenoğlu E. THE NEXUS BETWEEN CENTRAL BANK INDEPENDANCY AND INFLATION: A TIME SERIES ANALYSIS OF THE TURKISH ECONOMY. BAFAD. 2014;1:43–66.

MLA

Beşkaya, Ahmet, ve Erdem Güdenoğlu. “THE NEXUS BETWEEN CENTRAL BANK INDEPENDANCY AND INFLATION: A TIME SERIES ANALYSIS OF THE TURKISH ECONOMY”. Bankacılık ve Finansal Araştırmalar Dergisi, c. 1, sy 2, Temmuz 2014, ss. 43-66, https://izlik.org/JA94XB79XH.

Vancouver

1.Ahmet Beşkaya, Erdem Güdenoğlu. THE NEXUS BETWEEN CENTRAL BANK INDEPENDANCY AND INFLATION: A TIME SERIES ANALYSIS OF THE TURKISH ECONOMY. BAFAD [Internet]. 01 Temmuz 2014;1(2):43-66. Erişim adresi: https://izlik.org/JA94XB79XH

THE NEXUS BETWEEN CENTRAL BANK INDEPENDANCY AND INFLATION: A TIME SERIES ANALYSIS OF THE TURKISH ECONOMY

THE NEXUS BETWEEN CENTRAL BANK INDEPENDANCY AND INFLATION: A TIME SERIES ANALYSIS OF THE TURKISH ECONOMY

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Anahtar Kelimeler

MERKEZ BANKASI BAĞIMSIZLIĞI VE ENFLASYON ARASINDAKİ İLİŞKİ: TÜRKİYE EKONOMİSİNİN ZAMAN SERİLERİYLE ANALİZİ

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