Evaluation of Sustainability of Current Account Deficits in Turkey

Insel, Aysu; Kayıkçı, Fazıl

doi:10.4236/me.2012.31006

Cited by 12 publications

(8 citation statements)

References 18 publications

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“…Following the cointegration stability test, Hye and Siddiqui (2010) found that imports cause the exports from the period of 2003 and exports cause the imports from 1994 to 2004. Insel and Kayikci (2012) evaluated the current account deficit of Turkey and found that Turkey would continue to have current account deficits in the next years and sustainability of these deficits has become increasingly difficult. Kalyoncu and Ozturk (2010) found a unique long run or equilibrium relationship among real exports and imports in the case of Peru, while in the case of Colombia, Venezuela, Mexico, Brazil and Argentina, cointegration results indicated that these countries' current accounts are not sustainable in the long run.…”

Section: Literature Overviewmentioning

confidence: 99%

Sustainability of Bosnia and Herzegovina’s international trade flows

Skoko

Zovko

2018

Notitia

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The aim of this research is to examine the sustainability of international trade flows of Bosnia and Herzegovina with the rest of the world. The data sample consists of quarterly data from the first quarter of 2008 to the last quarter of 2016. Johansen tests of cointegration indicated that exports and imports are cointegrated in the case of Bosnia and Herzegovina and Vector Error Correction Model (VECM) is estimated and tested. Research results revealed a bidirectional weakly sustainable relationship between exports and imports pointing out the need to improve external competitiveness of Bosnia and Herzegovina’s economy.

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Section: Literature Overviewmentioning

confidence: 99%

Sustainability of Bosnia and Herzegovina’s international trade flows

Skoko

Zovko

2018

Notitia

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“…29 The crisis-growth-current account deficit-crisis circle still constitutes as an inherent fragility of the Turkish economy, despite the improvements in budgetary performance and a relatively tightly regulated banking and financial system. 30 The second and interrelated proximate challenge for the economy is centered on Turkey's overdependence on energy. In 2011, Turkey imported more than 90 per cent of its total liquid fuel consumption, comprising an energy import bill of approximately 55 billion US dollars.…”

Section: Turkey's Economic Challenges: Two Achilles Heelsmentioning

confidence: 99%

Rising Powers in a Changing Global Order: The Political Economy of Turkey in the Age of BRICs

Önіş

Kutlay

2013

SSRN Journal

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The rise of BRICs presents a major challenge to the existing global order. A second category of emerging powers, which may be labeled near-BRICs have also displayed increasing pro-activism in recent years in terms of influencing the regional balance of power politics in addition to their growing presence in international organizations and global affairs. It is in this context that we aim to examine Turkey as a striking example of a "near-BRIC" power, a country that has adapted an increasingly assertive and independent style of foreign policy with aspirations to establish itself as a major regional actor. Using the Turkish experience as a reference point, this paper aims to understand the extent to which near-BRICs possess the economic capacity, sustainable growth performance and soft-power capabilities needed to establish themselves as significant regional and global actors. The recent Turkish experience clearly highlights both the potential and the limits of regional power activism on the part of emerging powers from the "global south."

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“…The Banking Regulation and Supervision Agency 1. See, for example, Sekmen (2008), Oguş and Sohrabji (2008), Akat and Yazgan (2013), İnsel and Kayıkçı (2012), Röhn (2012), Edgerly (2013), Kara (2013), Harvey and Gökoluk (2014), and Özata (2014), among others.…”

Section: Introductionmentioning

confidence: 99%

“…See, for example, Sekmen (), Oğuş and Sohrabji (), Akat and Yazgan (), İnsel and Kayıkçı (), Röhn (), Edgerly (), Kara (), Harvey and Gökoluk (), and Özata (), among others.…”

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confidence: 99%

The Turkish Current Account Deficit

2018

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During the 2011–2015 period, Turkey's current account deficit as a percentage of gross domestic product (GDP) was one of the largest among the Organization for Economic Co‐operation and Development countries. In this paper, we examine if this deficit can be considered optimal using the Engel and Rogers's approach. In this framework, the current account of a country is determined by the expected discounted present value of its future share of world GDP relative to its current share. A country whose income is anticipated to rise relative to the rest of the world is expected to borrow now and run a current account deficit. Our findings suggest that Turkey's current account deficit in 2015 may be considered optimal if the Turkish economy's share in the world economy could continue to grow at rates similar to the past or to the predictions from professional forecasts. The same approach, however, indicates that the current account deficit in 2011, at its peak, was unlikely to be optimal. (JEL F32, F41, F43)

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Evaluation of Sustainability of Current Account Deficits in Turkey

Cited by 12 publications

References 18 publications

Sustainability of Bosnia and Herzegovina’s international trade flows

Sustainability of Bosnia and Herzegovina’s international trade flows

Rising Powers in a Changing Global Order: The Political Economy of Turkey in the Age of BRICs

The Turkish Current Account Deficit

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