Katircioglu, Salih Turan and Feridun, Mete (2010) Do macroeconomic fundamentals affect exchange market pressure? Evidence from bounds testing approach for Turkey. Applied Economics Letters, 18 (3). pp. 295-300. ISSN 1350-4851 (Print), 1466-4291 (Online) (doi:https://doi.org/10.1080/00036841003636110)

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Abstract

This article investigates the relationship between Exchange Market Pressure (EMP) and macroeconomic fundamentals in Turkey using the Autoregressive Distributed Lag (ARDL) bounds testing procedure and Vector Error Correction Model (VECM) within the framework of the canonical currency crisis models. The results of the bounds tests suggest the existence of a level relationship between EMP and the selected macroeconomic fundamentals. The results of the VECM also suggest that there exists a unidirectional causation that runs from those macroeconomic fundamentals to EMP in the case of the Turkish Economy.

Item Type:	Article
Uncontrolled Keywords:	Exchange Market Pressure (EMP), macroeconomic fundamentals, Turkey, Autoregressive Distributed Lag (ARDL) bounds testing procedure, Vector Error Correction Model (VECM)
Subjects:	H Social Sciences > HB Economic Theory
Faculty / School / Research Centre / Research Group:	Faculty of Business > Institute of Political Economy, Governance, Finance and Accountability (IPEGFA) > Greenwich Political Economy Research Centre (GPERC) Faculty of Business > Department of International Business & Economics Faculty of Business
Related URLs:	Publisher
Last Modified:	04 Aug 2021 16:32
URI:	http://gala.gre.ac.uk/id/eprint/7916

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