The behavior of Turkish exchange rates: A panel data perspective

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dc.contributor.authorAdiguzel, Ugur
dc.contributor.authorSahbaz, Ahmet
dc.contributor.authorOzcan, Ceyhun Can
dc.contributor.authorNazlioglu, Saban
dc.date.accessioned2024-02-23T14:02:44Z
dc.date.available2024-02-23T14:02:44Z
dc.date.issued2014
dc.departmentNEÜen_US
dc.description.abstractThis paper investigates the behavior of Turkish exchange rates within the context of purchasing power parity (PPP) hypothesis by means of recent developments in the panel unit root testing procedures for ten Turkish real exchange rates during January 2002-May 2012. The unit root test which accounts for nonlinearity, smooth structural shifts, and cross-section dependency supports that PPP hypothesis holds for Eurozone and European countries (Denmark, Norway, Sweden, Switzerland, and United Kingdom), while it does not hold for non-European trading partners (Canada, Japan, Saudi Arabia, and USA). From the empirical results, we can conclude that PPP, hypothesis holds in the countries which have the free trade agreement, while it is violated in the countries in which there are trade barriers and greater distance. The findings therefore provide policy implications for Turkey in determining equilibrium exchange rates with her major trading partners. (C) 2014 Elsevier B.V. All rights reserved.en_US
dc.identifier.doi10.1016/j.econmod.2014.06.014
dc.identifier.endpage185en_US
dc.identifier.issn0264-9993
dc.identifier.issn1873-6122
dc.identifier.scopus2-s2.0-84904752260en_US
dc.identifier.scopusqualityQ1en_US
dc.identifier.startpage177en_US
dc.identifier.urihttps://doi.org/10.1016/j.econmod.2014.06.014
dc.identifier.urihttps://hdl.handle.net/20.500.12452/11829
dc.identifier.volume42en_US
dc.identifier.wosWOS:000342246200018en_US
dc.identifier.wosqualityQ3en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherElsevieren_US
dc.relation.ispartofEconomic Modellingen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectPurchasing Power Parityen_US
dc.subjectTurkeyen_US
dc.subjectPanel Unit Rooten_US
dc.titleThe behavior of Turkish exchange rates: A panel data perspectiveen_US
dc.typeArticleen_US

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