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Identification of ‘pull’ & ‘push’ factors for the portfolio flows: SVAR evidence from the Turkish economy

Levent Korap ()

MPRA Paper from University Library of Munich, Germany

Abstract: In this paper, the determinants of the portfolio based capital flows are examined for the Turkish economy. Following the structural vector autoregression methodology, the estimation results reveal that the ‘push’ factors based on the external developments for the Turkish economy have a dominant role in explaining the behavior of the portfolio flows. Further, the domestic real interest rate as one of the main ‘pull’ factors has been found in a negative dynamic relationship with the portfolio flows. This result is attributed to that the dynamic course of the portfolio flows should not be related to the excess return possibilities of the real interest structure of the Turkish economy.

Keywords: Portfolio Flows; SVAR Analysis; Turkish Economy (search for similar items in EconPapers)
JEL-codes: C32 F32 G11 (search for similar items in EconPapers)
Date: 2010
New Economics Papers: this item is included in nep-ara, nep-ifn and nep-mon
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Published in Doğuş University Journal 11.2(2010): pp. 223-232

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