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Uluslararası Ticaret Bölümü

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Browsing Uluslararası Ticaret Bölümü by Department "Çankaya Üniversitesi,İktisadi ve İdari Bilimler Fakültesi,Uluslararası Ticaret Bölümü"

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    Article
    Cointegration, causality and the transmission of shocks across wheat market in Pakistan
    (Springer, 2009) Klasra, Mushtaq Ahmad
    This paper uses quarterly price data and examines the transmission of shocks across different spatially separated locations besides identifying causality among these locations. Johansen and Juselius's (Econ. Stat., 52, 160-210, 1990) multivariate cointegration procedure identified two cointegrating vectors among these locations. Following Toda and Yamamoto (J. Econom., 66, 225-250, 1995), causality tests showed only one bi-directional causality and it was between Peshawar and Hyderabad locations. Faisalabad and Sargodha appeared independent (i.e. exogenous) market locations in price discovery process. Peshawar market showed maximum (i.e. 5) number of significant links. The generalized impulse response functions, though, suggested similar (cyclical) pattern of responses across the markets, but their time profile, which provides insight into the system's speed of convergence to long run equilibrium path, varied with different level of extent and persistency. Responses to shock originating in consumption markets (i.e. Karachi, Peshawar and Lahore) remained short lived; whereas the shocks stemming from surplus wheat producing locations (i.e Multan, Sargodha and Faisalabad) produced long and more persistent responses.
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    Article
    Is there a J-curve effect in Turkish services?
    (Springer, 2010) Yazıcı, Mehmet; 144084
    This paper explores the existence of the J-curve effect in Turkish services. The model of Bahmani-Oskooee (Rev Econ Stat 67:500-504, 1985), one of the most commonly employed model in the j-curve literature, is adopted. Using quarterly data from 1986: I to 1998: III, we find that, as a result of real depreciation of Turkish currency, YTL, services trade balance initially improves, then worsens and improves again in the short run. This is a pattern indicating that J-curve effect does not exist in Turkish services sector. We also find that depreciation of Turkish Lira improves the trade balance of the sector in the long run, a result consistent with earlier findings for the whole Turkish economy.