The role of macroeconomic instability in public and private capital accumulation and growth: the case of Turkey 1963–1999

Ismihan, Mustafa; Metin-Özcan, Kıvılcım; Tansel, Aysıt

doi:10.1080/0003684042000286115

Cited by 64 publications

(15 citation statements)

References 30 publications

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“…At the regional level, only in the Marmara region, public capital is found to crowd in both private capital and employment. Ismihan et al (2005) corroborates the above findings at the aggregate level. Their study differs by studying the effects of macro-economic instability on public and private capital accumulation and growth in Turkey over the period 1963-1999, using a VECM.…”

Section: A Short Survey Of the Literaturesupporting

confidence: 93%

“…Although there is voluminous literature studying the dynamic effects of public capital, using VAR methodology in other countries, for Turkey such studies are very limited (Karada et al, 2004;Ismihan et al, 2005). Karadag et al (2004) examine the impact of public capital formation on private manufacturing sector performance at both the regional and the aggregate level for the period 1980-2000, using a VAR model.…”

Section: A Short Survey Of the Literaturementioning

confidence: 99%

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Transportation–Communication Capital and Economic Growth: A VECM Analysis for Turkey

Eruygur

Kaynak

Mert

2012

European Planning Studies

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This paper analyses the short-and long-term relationships between the transportationcommunication capital and the output for Turkey. The study applies a Cobb-Douglas production function under the assumption of constant returns to scale and employs co-integration analysis by estimating a vector error correction model (VECM). As a result of the VECM estimation, one co-integrating relationship is detected. The results based on the impulse response function analysis imply that per labour transportation-communication capital appears both to have been a crucial input in the Turkish productive process and to have had a positive crowding in effect on the per labour non-residential total capital formation. Moreover, the results support the argument that the transportation-communication capital has a lagged impact on economic growth. The long-term accumulated elasticity of output to transportation-communication capital has been found to be 0.59. The long-term accumulated marginal product was also calculated. It implies that a 1 Turkish Lira increase in per labour transportation-communication capital results in a long-term rise of 1.45 Turkish Liras in per labour output. All these findings suggest that transportation-communication capital may be a powerful tool for policy-makers to promote long-term per labour real output growth in Turkey.

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Section: A Short Survey Of the Literaturesupporting

confidence: 93%

Section: A Short Survey Of the Literaturementioning

confidence: 99%

Transportation–Communication Capital and Economic Growth: A VECM Analysis for Turkey

Eruygur

Kaynak

Mert

2012

European Planning Studies

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“…But the contribution of public capital to economic growth is smaller than what is found in the protuberant research of (Ashauer, 1989). Ismihan et al (2005), tend to validate the Karada's findings at the collective level. Their findings showed slight change on the effect of macroeconomic instability on public and private capital accumulation and growth of Turkey from 1963 to 1999 by employing a CECT.…”

Section: Literature Reviewmentioning

confidence: 59%

The Nexus among Road Transport and the Economic Growth in Nigeria

Jelilov¹,

Kachallah²

2017

JMENAS

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This study has examined the impact of road transport in Nigerian between the periods 1995-2014. It also examined the trend and pattern of the length of federal roads in Nigeria over the years under coverage. This study made use of secondary data obtained from National Bureau of Statistics Statistical Bulletin 2014. Descriptive statistics and econometric techniques were employed in analyzing the data. In descriptive statistics I made use of table while in the area of econometrics, I employed the ordinary least square technique to determine the impact of explanatory variables viz; the contribution of road transport, the length of roads and premium consumption on economic growth. The result of the analysis shows that there exist a positive relationship between economic growth and contribution of road transport and length of federal roads and a negative relationship is observed between economic growth and premium motor spirit consumption. Road transport has impacted on the real sector of the economy like manufacturing and agriculture etc. In a nutshell, we can say that road transport has a direct impact on economic growth. Therefore i recommend that the government should provide efficient public transport service at a subsidized rate so that people use fewer vehicles to avoid unnecessary spending on premium motor spirit consumption.

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“…Çalışma sonucunda katma değerli üretim maliyetinde sermayeye yapılan ödemelerin payındaki artışın ve fiyatlarda meydana gelen jumpların makroekonomik istikrarsızlığı arttırdığı görülmüştür. Jalab, Gbakou ve Sandretto (2008), 1970-2005 dönemi için Orta Doğu ve Kuzey Afrika ülkelerinde doğrudan yabancı yatırımın ekonomik büyüme üzerindeki etkisini incelemişlerdir. Çalışmada dinamik panel veri analizi, GMM ve 2 Aşamalı EKK yöntemlerinden yararlanılmıştır.…”

Section: Literatürunclassified

The Effect of the Credit Bubbles on Economic Instability: The Sample of Turkey in 1998 - 2016 Period

Korkmaz

2016

International Conference on Eurasian Economies 2016

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A country having a stable economy is directly related with its financial stability. Especially in recent years, we face the incurring debts as the most important problem of the individuals and countries, these problems must be taken into consideration, and the influence of indebtedness on economic stability must be investigated. In other words, the source of the excessive indebtedness, which directs the economic stability, must be defined well. For this purpose, in the study, the credit bubbles have been considered as the factors triggering the indebtedness, and the effects of the credit bubbles on economic instability in Turkey has been investigated. For this purpose, first of all, the dates when the credit bubbles were incurred were determined, and then the factors influencing the economic instability have been examined. In this study, the three-month data of the 1998:01-2016:01 period for Turkey, the economic instability indicators, and the credit bubbles have been considered. By using the Sup ADF (SADF) and Generalized Sup ADF (GSADF) tests, the credit bubbles were determined.

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The role of macroeconomic instability in public and private capital accumulation and growth: the case of Turkey 1963–1999

Cited by 64 publications

References 30 publications

Transportation–Communication Capital and Economic Growth: A VECM Analysis for Turkey

Transportation–Communication Capital and Economic Growth: A VECM Analysis for Turkey

The Nexus among Road Transport and the Economic Growth in Nigeria

The Effect of the Credit Bubbles on Economic Instability: The Sample of Turkey in 1998 - 2016 Period

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