• About
  • Policies
  • What is open access
  • Library
  • Contact
Advanced search
      View Item 
      •   BUIR Home
      • Scholarly Publications
      • Faculty of Economics, Administrative And Social Sciences
      • Department of Economics
      • View Item
      •   BUIR Home
      • Scholarly Publications
      • Faculty of Economics, Administrative And Social Sciences
      • Department of Economics
      • View Item
      JavaScript is disabled for your browser. Some features of this site may not work without it.

      Dynamics of macroeconomic adjustment in a globalized developing economy: growth, accumulation and distribution, Turkey 1969-1999

      Thumbnail
      View / Download
      2.2 Mb
      Author(s)
      Ozcan, K. M.
      Voyvoda, E.
      Yeldan, A. E.
      Date
      2001
      Source Title
      Canadian Journal of Development Studies
      Print ISSN
      0225-5189
      Electronic ISSN
      2158-9100
      Publisher
      Routledge
      Volume
      22
      Issue
      1
      Pages
      219 - 253
      Language
      English
      Type
      Article
      Item Usage Stats
      150
      views
      120
      downloads
      Abstract
      Our purpose in this paper is to establish stylized facts of the Turkish macroeconomic adjustments using data from 1969 to 1999. We adopt a traditional a priori definition of business cycles as cyclical co-movements of economic variables such as public, private and construction investments, trade balance, labour productivity, wages and fiscal accounts with the cyclical component of real GDP. We also incorporate in our analysis an investigation of the cyclical components of exchange rates, interest rates, price inflation, and the monetary aggregates. Our quantitative findings reveal a robust and significant positive relationship between public and private investments and real GDP growth, suggesting the presence of “crowding in” effects of public investment. Trend growth of manufacturing wages and average labour productivity are loosely associated over the whole period, and the rapid gains in productivity in the post-1980 reform era are not observed to be materialized as gains in remunerations of wage labour. We also find a significant negative correlation of manufacturing wages with merchandise exports and the exchange rate; and document further evidence of the strong negative correlation between variations in consumer prices and production.
      Permalink
      http://hdl.handle.net/11693/49170
      Published Version (Please cite this version)
      https://doi.org/10.1080/02255189.2001.9668808
      Collections
      • Department of Economics 667
      • Department of International Relations 536
      Show full item record

      Browse

      All of BUIRCommunities & CollectionsTitlesAuthorsAdvisorsBy Issue DateKeywordsTypeDepartmentsThis CollectionTitlesAuthorsAdvisorsBy Issue DateKeywordsTypeDepartments

      My Account

      LoginRegister

      Statistics

      View Usage StatisticsView Google Analytics Statistics

      Bilkent University

      If you have trouble accessing this page and need to request an alternate format, contact the site administrator. Phone: (312) 290 1771
      © Bilkent University - Library IT

      Contact Us | Send Feedback | Off-Campus Access | Admin | Privacy