- Yaşar Üniversitesi E-Dergisi
- Volume:14 Issue:55
- THE RELATIONSHIP BETWEEN INTERMEDIATE AND CAPITAL GOODS IMPORTS, INDUSTRIAL PRODUCTION AND ECONOMIC ...
THE RELATIONSHIP BETWEEN INTERMEDIATE AND CAPITAL GOODS IMPORTS, INDUSTRIAL PRODUCTION AND ECONOMIC GROWTH: THE CASE OF TURKEY
Authors : Kemal ERKİŞİ, Ümit Engin TEKİN
Pages : 358-368
Doi:10.19168/jyasar.516702
View : 101 | Download : 5
Publication Date : 2019-07-31
Article Type : Research Paper
Abstract :In this study, the relationship between intermediate goods import insert ignore into journalissuearticles values(M I );, capital goods imports insert ignore into journalissuearticles values(M C );, industrial production insert ignore into journalissuearticles values(IP); and economic growth insert ignore into journalissuearticles values(GDP); in Turkey was explored by using the quarterly data consist of 32 observations between 2010Q1 – 2017Q4. VAR Granger causality analysis was employed to explore the short-run causality and the direction between variables. It is concluded : a); a bidirectional causality between GDP and M I b ); a bidirectional causality between insert ignore into journalissuearticles values(IP); and insert ignore into journalissuearticles values(M I );, c); a unidirectional causality from IP to GDP, d); a unidirectional causality from M C to M I and there is not a causality between IP and M C . “Johansen Co-integration” test results indicated a long-run relationship between, M C , M I , IP and GDP. Variance decomposition test was employed to assess the variability of the dependent variable over time. As a result, while in the first period insert ignore into journalissuearticles values(quarter); GDP is explained by itself at 100%. However In the tenth period GDP is explained by 18% GDP, 18% M C , 32% M I and 32% IP .. As a result, in the short-term, industrial production and intermediate goods importation are the determinants of economic growth. However, in the long-term, capital and intermediate goods importation, industrial production are the determinants of economic growth in Turkey.Keywords : Economic Growth, Intermediate Goods Imports, Capital Goods Imports, Industrial Production
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