The Impact of Exchange Rate Volatility on Turkish Exports: 1993-2009

Altintaş Halil, Cetin Rahmi and Öz Bülent
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Altintaş Halil: Faculty of Economics and Administrative Sciences, Erciyes University, Economics, Turkey
Cetin Rahmi: Faculty of Economics and Administrative Sciences, Economics, K. Maras Sütçü İmam University, Turkey
Öz Bülent: Faculty of Economics and Administrative Sciences, Business, Korkut Ata University, Turkey

South East European Journal of Economics and Business, 2011, vol. 6, issue 2, 71-81

Abstract: This paper attempts to investigate the long-run and short-run relationships between Turkish exports, exchange rate volatility, foreign income, and relative prices by employing quarterly data for the period 1993Q3-2009Q4. Towards this purpose, multivariate cointegration and error correction model (ECM) techniques are used in this study. The long-run estimation results suggest that foreign income and real exchange rate volatility exert positive and statistically significant impacts on Turkish exports, while relative prices affect Turkish exports negatively and significantly. In addition, the results of the ECM model indicate that relative prices have a negative and significant effect, foreign income has an insignificant effect, and nominal exchange rate volatility has a positive and significant effect on Turkish exports.

Keywords: Exchange Rate Volatility; Export; ARDL Cointegration; Turkey; Exchange Rate Volatility; Export; ARDL Cointegration; Turkey (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:seejeb:v:6:y:2011:i:2:p:71-81:n:7

DOI: 10.2478/v10033-011-0017-8

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