Exogenous Characteristics of Short-Term Capital Flows: Can They Be under Control? Evidence from Turkey
Yazarlar (1)
Doç. Dr. Hüseyin Levent KORAP Kastamonu Üniversitesi, Türkiye
| Bildiri Türü |
Tebliğ/Bildiri
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Bildiri Dili | İngilizce |
| Bildiri Alt Türü | Tam Metin Olarak Yayınlanan Tebliğ (Uluslararası Kongre/Sempozyum) | ||
| Bildiri Niteliği | Alanında Hakemli Uluslararası Kongre/Sempozyum | ||
| Kongre Adı | Munich Personel RePEc Archive (MPRA) Paper | ||
| Kongre Tarihi | 31-01-2007 / | ||
| Basıldığı Ülke | Basıldığı Şehir | ||
| Bildiri Linki | https://mpra.ub.uni-muenchen.de/19504/ | ||
| UAK Araştırma Alanları |
Enflasyon
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| Özet |
| In our paper, we give an essay trying to explore whether short-term capital flows can affect and/or be affected by some main domestic macroeconomic indicators called ‘pull’ factors such as real effective exchange rate, trade balance, real income growth process, domestic inflation and real interest structure for the case of Turkish economy. Our estimation results employing some contemporaneous estimation techniques of unrestricted dynamic vector autoregression (VAR) models reveal that short-term capital flows have in fact an important role on the ‘pull’ factors in the sense that inflows appreciate the real effective exchange rate and in turn deteriorate the trade balance, encourage the real income growth, and decrease the real interest rates. But we could not find any significant effects of the ‘pull’ factors on the capital flows. |
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