Balassa-Samuelson Hipotezi: Türkiye ve Dış Ticaret Ortakları Uygulaması

Yıl 2017, Cilt: 32 Sayı: 1, 57 - 94, 13.07.2017

İsmail Küçükaksoy , İsmail Çifçi

https://doi.org/10.24988/deuiibf.2017321547

Öz

Bu çalışma, Türkiye ve en büyük ticaret ortağı olan on Avrupa Birliği Ülkesi ve NAFTA ülkeleri için 1991-2013 yıllık verileri kullanarak “Balassa-Samuelson Hipotezi (BSH)”nin geçerliliğini test etmeyi amaçlamaktadır. BSH’nin geçerliliğini araştırmak için kurulan model doğrultusunda, değişkenler (reel efektif döviz kuru endeksi, göreceli verimlilik endeksi) arasında, “Pedroni Panel Koentegrasyon” ve “Kao Panel Koentegrasyon” test sonuçlarına göre, uzun dönemli koentegre ilişkisi tespit edilmiştir. Tam Düzeltilmiş En Küçük Kareler (FMOLS) ve Dinamik En Küçük Kareler (DOLS) yöntemleri BSH’nin geçerliliğini hem panel bazında hem de tüm ülkeler için %1 önem seviyesinde ispatlamaktadır. FMOLS ve DOLS yöntemlerine göre göreceli verimlilik endeksinde meydana gelen 1 birimlik bir artış, uzun dönemde, reel efektif döviz kurunda yaklaşık 0.96 birimlik bir artış meydana getirmektedir.

Anahtar Kelimeler

Balassa-Samuelson Hipotezi, Reel Döviz Kuru, Dış Ticarete Konu Olan ve Olmayan Sektör Verimlilikleri, Tam Düzeltilmiş En Küçük Kareler Yöntemi (FMOLS), Dinamik En Küçük Kareler Yöntemi (DOLS)

The Balassa-Samuelson Hypothesis: Turkey and Foreign Trade Partners Application

Öz

This paper aims to investigate validity of “Balassa-Samuelson Hypothesis (BSH)” for Turkey and ten member countries of the European Union and NAFTA countries which Turkey’s major trading partners using annual data in period from 1991 to 2013. To investigate the validity of the BSH in the line with established model, according to Pedroni Panel Cointegration and Kao Panel Cointegration test, long-run cointegrating relationship between variables (the real effective exchange rate index and relative productivity index) has determined. Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS) methods prove BSH in both terms of panels and for all countries at 1% significance level. According to FMOLS and DOLS methods a 1 unit increase in the relative productivity index increases the real effective exchange rate index approximately 0.96 unit in the long-run.

Anahtar Kelimeler

Balassa-Samuelson Hypothesis, Real Exchange Rate, Tradable and Non-Tradable Sector Productivity, Fully Modified Ordinary Least Squares (FMOLS), Dynamic Ordinary Least Squares (DOLS)

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