EFFECTS OF PARTICIPATION TO ECONOMIC INTEGRATIONS ON FOREIGN TRADE OF TURKEY: PANEL DATA ANALYSIS

Oğuzhan Özçelik and Elçin Aykaç Alp
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Oğuzhan Özçelik: KIRKLARELI UNIVERSITY
Elçin Aykaç Alp: ISTANBUL COMMERCE UNIVERSITY

Ekonomi Maliye Isletme Dergisi, 2021, vol. 4, issue 1, 101-114

Abstract: The positively directed relationship between economic growth and international trade in the globalizing world caused the importance attached to international trade has increased day by day. Countries, by the effect of this increasing importance, have headed towards economic integrations intensely. Turkey entered into much economic integration agreement, notably, the customs union agreement with European countries in 1996 to improve the foreign trade in parallel to this change in the world conjuncture. This study scrutinized all the economic integrations of Turkey one by one and applied comparative analysis for the 1974-2017 period. Within this scope, a sample was established so as to include 75 countries that had 0.01% share at least in Turkey's foreign trade between the years of 1984 and 2017. There were produced estimations by utilizing bilateral trade data of countries and the Gravity Model. Analysis findings jibe with the literature and show that economic integrations increase the foreign trade of Turkey. However, according to this research, partial scopes arrangements from among economic integrations negatively affected the trade of Turkey in the related period.

Keywords: Economic Integrations; Partial Scopes; Customs Union; Gravity Model; Poisson Pseudo Maximum Likehood (PPML) (search for similar items in EconPapers)
JEL-codes: F15 F41 P45 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:gnx:emid43:2021-4-1-862423

DOI: 10.46737/emid.862423

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