The Effects of Foreign Trade on Participation Index: ARDL Bounds Testing Approach
Tufan Sarıtaş and
Erdi Bayram
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Tufan Sarıtaş: Karamanoglu Mehmetbey University
Erdi Bayram: Mani̇sa Celâl Bayar University
Journal of Finance Letters (Maliye ve Finans Yazıları), 2021, vol. 36, issue 115, 59-76
Abstract:
In this study, the effect of foreign trade on Participation 30 Index was investigated by using ARDL Bounds Testing Approach with monthly data for the period 2011:3-2020:2. Two models have been established; in the first model, Participation 30 index is dependent series (LKAT); exchange rate (LDOV), import (LITH) and inflation (LENF) are independent series. In the second model, exchange rate (LDOV), export (LIHR) and inflation (LENF) are independent series. According to findings, it was concluded that imports had a positive effect on index. On the other hand, it was observed exports did not have statistically significant effect on the index.
Keywords: Participation Index; Export; Import; ARDL Bounds Test (search for similar items in EconPapers)
JEL-codes: C82 E44 G11 G32 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:acc:malfin:v:36:y:2021:i:115:p:59-76
DOI: 10.33203/mfy.792982
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