Application of the twin-deficits hypothesis to the Turkish case
Application of the twin-deficits hypothesis to the Turkish case
This study detects the twin-deficits hypothesis, the mutual effects of government budget deficits and merchandise trade deficits on each other through real interest rates and real effective exchange rates, in the Turkish economy. One-sided Granger causality analysis and Ordinary Least Squares (OLS) regressions for multivariate analysis for each are used for 1987-92 monthly data. The government budget deficits are found to affect trade deficits not directly, but through the mechanism over real interest rates and real effective exchange rates. Nevertheless, the merchandise trade deficits seem to affect budget deficits directly.
Includes bibliographical references leaves 40-44.
Cataloged from PDF version of article.
Yılmaz, Alper
- Bilkent University Turkey
real effective exchange rates, Balance of trade--Turkey., Turkey, Budget deficits--Turkey., Economics, merchandise trade deficits, Balance of tade., Balance of tade, 381, consolidated budget deficits, Ordinary Least Squares, unit roots, real interest rates, Twin deficits hypothesis, Granger causality, Consolidated budget deficits, Reel interest, Twin-deficits hypothesis, HF1014 .Y45 1993, Balance of trade--Turkey, Budget deficits--Turkey, Ekonomi, Budget deficits
real effective exchange rates, Balance of trade--Turkey., Turkey, Budget deficits--Turkey., Economics, merchandise trade deficits, Balance of tade., Balance of tade, 381, consolidated budget deficits, Ordinary Least Squares, unit roots, real interest rates, Twin deficits hypothesis, Granger causality, Consolidated budget deficits, Reel interest, Twin-deficits hypothesis, HF1014 .Y45 1993, Balance of trade--Turkey, Budget deficits--Turkey, Ekonomi, Budget deficits
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