The impact of real effective exchange rate and its volatility on economic growth in the OECD

Basit Öğe Kaydı
dc.authorid0009-0005-0176-1076
dc.contributor.advisorGörkey, Seldaen_US
dc.contributor.authorDada, Samson Adewaleen_US
dc.contributor.otherIşık Üniversitesi, Lisansüstü Eğitim Enstitüsü, Uygulamalı Ekonomi Yüksek Lisans Programıen_US
dc.date.accessioned2023-12-13T16:06:22Z
dc.date.available2023-12-13T16:06:22Z
dc.date.issued2023-11-30
dc.departmentIşık Üniversitesi, Lisansüstü Eğitim Enstitüsü, Uygulamalı Ekonomi Yüksek Lisans Programıen_US
dc.descriptionText in English ; Abstract: English and Turkishen_US
dc.descriptionIncludes bibliographical references (leaves 110-122)en_US
dc.descriptionxii, 123 leavesen_US
dc.description.abstractThis study examines the effects of the real effective exchange rate (REER) and its volatility on economic growth from 1996 to 2020 in 36 OECD countries utilizing fixed effects (FE) and random effects (RE) methodologies from panel data econometrics. For empirical analysis, the Hausman test indicates that the fixed effect method is superior to the random effect method; and there were presence of cross-sectional dependencies, autocorrelation, and heteroskedasticity in the FE model. The robust estimates derived by the FE estimation using DRK S.E. indicate that the impact of the real effective exchange rate on economic growth is negative and statistically significant whereas the REER volatility has an insignificant effect on economic growth in the OECD throughout the examined period. The findings from the FE model with robust S.E. further evidence a significantly negative impact of GCE and a significantly positive impact of GCF on economic growth. While population growth and trade do not result in any significant impact on economic activity, the influence of inflation on GDP growth presents mixed findings on significance levels both of which point out to negative impacts. This study presents crucial outcomes in that the impacts of REER and REER volatility on economic growth present diversified outcomes over the past decades in the OECD.en_US
dc.description.abstractBu çalışma, 36 OECD ülkesinde reel efektif döviz kurunun (REDK) ve onun oynaklığının ekonomik büyüme üzerindeki etkisini 1996 ile 2020 yılları arasındaki dönem için panel veri ekonometri yöntemlerinden sabit etkiler (SE) ve tesadüfi etkiler (RE) tahmincilerinden faydalanarak incelemektedir. Ampirik analizde; Hausman test sonuçları, SE modelinin RE modeline kıyasla üstün olduğuna işaret ettiğinden SE modeli tahmin edilmiş ve bu modelde yatay-kesit bağımlılığı, değişen varyans ve otokorelasyonun varolduğu tespit edilmiştir. Driscoll-Kraay standard hataları türetilerek tahmin edilen dirençli SE model sonuçlarına göre, OECD ülkelerinde incelenen dönem boyunca, REDK’nin iktisadi büyümeyi istatistiksel olarak anlamlı ve negatif yönde etkilediği, REDK oynaklığının ise istatistiksel olarak anlamlı bir etkisinin olmadığı sonucuna ulaşılmıştır. Dirençli standard hatalarla elde edilen SE modeline ilişkin bulgular, iktisadi büyüme üzerinde; kamu tüketim harcamalarının anlamlı ve negatif, gayri safi brut sermaye oluşumunun ise anlamlı ve pozitif etkide bulunduğunu göstermektedir. Nüfus artışı ve ticaretin ekonomik aktivite üzerine etkisine rastlanmazken, enflasyona ilişkin sonuçlar ters yönlü etkiye işaret ederken istatistiksel anlamlılık bakımından birbirinden farklı sonuçlar göstermektedir. Bu çalışma ile elde edilen bulgular, OECD ülkelerinde son on yıllarda, REDK ve REDK oynaklığının iktisadi büyüme üzerindeki etkisinin birbirinden farklı olduğunu ortaya koyması bakımından önem taşımaktadır.en_US
dc.description.tableofcontentsEXCHANGE RATE: THEROETICAL BACKGROUNDen_US
dc.description.tableofcontentsDefinition Of Terms And Conceptual Considerationsen_US
dc.description.tableofcontentsThe Foreign Exchange Marketsen_US
dc.description.tableofcontentsThe Exchange Rate İn The Short Run: A Supply And Demand Analysisen_US
dc.description.tableofcontentsThe Exchange Rate İn The Long Runen_US
dc.description.tableofcontentsThe Model Of Foreign Exchange Rate Marketsen_US
dc.description.tableofcontentsPrice Levels Approach To Real Exchange Rateen_US
dc.description.tableofcontentsThe Law Of One Priceen_US
dc.description.tableofcontentsPurchasing Power Parity (Ppp)en_US
dc.description.tableofcontentsMonetary Approach To Real Exchange Ratesen_US
dc.description.tableofcontentsExchange Rate Targetingen_US
dc.description.tableofcontentsExchange Rate Overshootingen_US
dc.description.tableofcontentsTheoretical construction of Real Effective Exchange Rate (REER) and Its Volatilityen_US
dc.description.tableofcontentsThe Impact of Real Effective Exchange Rate on Real Economic Growthen_US
dc.description.tableofcontentsThe Impact of Real Effective Exchange Rate Volatility on Real Economic Growthen_US
dc.description.tableofcontentsTHE NEXUS BETWEEN EXCHANGE RATE, VOLATILITY, AND ECONOMIC GROWTH IN THE OECDen_US
dc.description.tableofcontentsExchange Rate and Its Volatility in the OECDen_US
dc.description.tableofcontentsOECD and Its Work Areasen_US
dc.description.tableofcontentsExchange Rate Regimes of Selected Economies in the OECDen_US
dc.description.tableofcontentsEuropean Monetary Systemen_US
dc.description.tableofcontentsThe Real Effective Exchange rate in the OECDen_US
dc.description.tableofcontentsThe Real Effective Exchange Rate Volatility and Economic Growth in the OECDen_US
dc.description.tableofcontentsThe Impact of Various Macroeconomics Indicators on Economic Growth in the OECDen_US
dc.description.tableofcontentsThe İmpact Of İnflation on Real Economic Growth in the OECDen_US
dc.description.tableofcontentsGross Capital formation and Real Economic Growth in the OECDen_US
dc.description.tableofcontentsGovernment Consumption Expenditure and Real Economic Growth in the OECDen_US
dc.description.tableofcontentsThe Impacts of Trade on Real Economic Growth in the OECDen_US
dc.description.tableofcontentsPopulation Growth and Real Economic Growth in the OECDen_US
dc.description.tableofcontentsFinancial Development and Economic Growth in the OECDen_US
dc.description.tableofcontentsEMPIRICAL ANALYSIS: REAL EFFECTİVE EXCHANGE RATE, ITS VOLATİLİTY AND ECONOMİC GROWTH IN THE OECDen_US
dc.description.tableofcontentsAn Overview of Panel Dataen_US
dc.description.tableofcontentsFixed Effect (FE) and Random Effect (RE) Estimationen_US
dc.description.tableofcontentsHausman Testen_US
dc.description.tableofcontentsDiagnostic Tests for FE Estimationsen_US
dc.description.tableofcontentsFixed-Effects Regression with Driscoll-Kraay Standard Errorsen_US
dc.description.tableofcontentsThe Baltagi-Wu GLS Estimator Testen_US
dc.description.tableofcontentsStationarity Testen_US
dc.description.tableofcontentsARCH Testen_US
dc.description.tableofcontentsGARCHen_US
dc.description.tableofcontentsEGARCHen_US
dc.description.tableofcontentsModel, Hypothesis, and Dataen_US
dc.description.tableofcontentsEmpirical Model Specification of the impact of Real Effective Exchange Rate on Real Economic Growth in the OECDen_US
dc.description.tableofcontentsFindings from the FE, RE and Driscoll-Kraay Estimates: The impact of Real Effective Exchange Rate on Economic Growth in the OECDen_US
dc.description.tableofcontentsGenerating Volatility Variable and Findings from the FE and RE Estimates: The impact of Real Effective Exchange Rate Volatility on Economic Growthen_US
dc.description.tableofcontentsFindings from the FE, RE and Driscoll-Kraay Estimates: The impact of Real Effective Exchange Rate Volatility on Economic Growth in the OECDen_US
dc.description.tableofcontentsExchange rate regimes of selected economies in the OECD (more)en_US
dc.description.tableofcontentsDescription of the Variables and their Sourcesen_US
dc.description.tableofcontentsSummary Statistics in the OECDen_US
dc.description.tableofcontentsSummary Statistics (Mean and Variance) in the OECD Countriesen_US
dc.description.tableofcontentsSummary Statistics in the OECD: Pearson Correlation Descriptive Statistics (A)en_US
dc.description.tableofcontentsSummary Statistics in the OECD: Pearson Correlation Descriptive Statistics (B)en_US
dc.description.tableofcontentsSummary of the Fixed Effect, Random Effect and FE Driscoll-Kraay on the impact of real effective exchange rate on economic growth in the OECDen_US
dc.description.tableofcontentsSummary of the Fixed Effect, Random Effect and FE Driscoll-Kraay on the impact of real effective exchange rate on economic growth in the OECD (more)en_US
dc.description.tableofcontentsStationarity Tests for Unit Root: Augmented Dickey-Fuller test for unit root in real effective exchange rate (Country Specific)en_US
dc.description.tableofcontentsStationarity Tests for Unit Root: Augmented Dickey-Fuller test for unit root in real effective exchange rate (Country Specific)(more)en_US
dc.description.tableofcontentsEstimation of Real Effective exchange Rate Volatility: REER Volatility Modellingen_US
dc.description.tableofcontentsEstimation of Real Effective exchange Rate Volatility: REER Volatility Modelling(more)en_US
dc.description.tableofcontentsFindings from the FE, RE and Driscoll-Kraay Estimates: The impact of REER Volatility on Economic Growth in the OECDen_US
dc.description.tableofcontentsFindings from the FE, RE and Driscoll-Kraay Estimates: The impact of REER Volatility on Economic Growth in the OECD(more)en_US
dc.description.tableofcontentsThe Equilibrium in the Foreign Exchangeen_US
dc.description.tableofcontentsThe Response to an Increase in the Domestic Interesten_US
dc.description.tableofcontentsThe Response to an Increase in the Foreign Interesten_US
dc.description.tableofcontentsThe Response to an Increase in the Expected Future Exchange Rateen_US
dc.description.tableofcontentsThe Effect of a Rise in the Money Supplyen_US
dc.description.tableofcontentsThe Graphical Relationship between GDP Growth and the Real Effective Exchange Rate in the OECD Countriesen_US
dc.description.tableofcontentsThe Graphical Relationship between GDP Growth and Population Growth (annual of) in the OECD Countriesen_US
dc.description.tableofcontentsThe Graphical Relationship between GDP Growth and Gross Capital Formation (% of GDP) in the OECD Countriesen_US
dc.description.tableofcontentsThe Graphical Relationship between GDP Growth and Government Consumption Expenditure (% of GDP) in the OECD Countriesen_US
dc.description.tableofcontentsThe Graphical Relationship between GDP Growth and Inflation, GDP Deflator in the OECD Countriesen_US
dc.description.tableofcontentsThe Graphical Relationship between GDP Growth and Trade (% of GDP) in the OECD Countriesen_US
dc.description.tableofcontentsThe Graphical Relationship between GDP Growth and Real Effective Exchange Rate Volatility in the OECD Countriesen_US
dc.identifier.citationDada, S. A. (2023). The impact of real effective exchange rate and its volatility on economic growth in the OECD. İstanbul: Işık Üniversitesi Lisansüstü Eğitim Enstitüsü.en_US
dc.identifier.urihttps://hdl.handle.net/11729/5815
dc.institutionauthorDada, Samson Adewaleen_US
dc.institutionauthorid0009-0005-0176-1076
dc.language.isoenen_US
dc.publisherIşık Üniversitesien_US
dc.relation.publicationcategoryTezen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 United States*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/us/*
dc.subjectEconomic growthen_US
dc.subjectExchange rateen_US
dc.subjectFixed effecten_US
dc.subjectREERen_US
dc.subjectVolatilityen_US
dc.subjectOECDen_US
dc.subjectİktisadi büyümeen_US
dc.subjectDöviz kuruen_US
dc.subjectSabit etkileren_US
dc.subjectVolatiliteen_US
dc.subjectOynaklıken_US
dc.subjectReel efektif döviz kuruen_US
dc.subject.lccHG3851 .D33 2023
dc.subject.lcshForeign exchange rates.en_US
dc.subject.lcshForeign exchange rates -- Economic development -- OECD countries.en_US
dc.subject.lcshOECD countries -- Economic conditions.en_US
dc.titleThe impact of real effective exchange rate and its volatility on economic growth in the OECDen_US
dc.title.alternativeOECD’de gerçek efektif döviz kuru ve volatilitesinin ekonomik büyüme üzerindeki etkisien_US
dc.typeMaster Thesisen_US
dspace.entity.typePublication

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