Dynamics of Exchange Rate Fluctuations in Turkey: Evidence from Symmetric and Asymmetric Causality Analysis

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dc.authorscopusid55607525200
dc.contributor.authorÇeli?k, Ali
dc.date.accessioned2024-09-11T19:57:44Z
dc.date.available2024-09-11T19:57:44Z
dc.date.issued2022
dc.departmentİstanbul Gelişim Üniversitesien_US
dc.description.abstractThis study examines the factors affecting exchange rate fluctuations in Turkey by employing the quarterly data from 2008 to 2020. In this context, linear and nonlinear unit root tests were used to determine the stationarity levels of the variables. Then, symmetric and asymmetric causality analysis was preferred to ascertain the relationship between the variables. Symmetric causality analysis results indicated a causality relationship from the exchange rate to the long-term debt stock, from the credit default swap (CDS) to the exchange rate, and from the exchange rate to the uncertainty index. The asymmetric causality analysis showed a causality relationship from positive shocks in the short-term debt stock to negative shocks in the exchange rate. Also, it was proven that there exists a causality relationship from negative shocks in the short-term external debt stock to positive and negative shocks in the exchange rate. Another result demonstrated a causality relationship between positive shocks in the exchange rate to negative shocks in the long-term debt stock. In addition, it was found that negative shocks in net capital investment were the cause of negative shocks in the exchange rate, while it was determined that there was a causality relationship from positive shocks in the net reserves to positive shocks in the exchange rate. In conclusion, the asymmetric causality relationship from positive shocks in CDS to positive shocks in exchange rates was detected. Copyright © 2022 Ali Çeli?ken_US
dc.identifier.doi10.15388/Ekon.2022.101.1.7
dc.identifier.endpage141en_US
dc.identifier.issn1392-1258en_US
dc.identifier.issue1en_US
dc.identifier.scopus2-s2.0-85130708157en_US
dc.identifier.scopusqualityQ4en_US
dc.identifier.startpage125en_US
dc.identifier.urihttps://doi.org/10.15388/Ekon.2022.101.1.7
dc.identifier.urihttps://hdl.handle.net/11363/8345
dc.identifier.volume101en_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherVilnius University Pressen_US
dc.relation.ispartofEkonomikaen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.snmz20240903_Gen_US
dc.subjectAsymmetric Causality Analysis; Exchange Rate; Non-Linear Unit Root Test; Symmetric Causality Analysisen_US
dc.titleDynamics of Exchange Rate Fluctuations in Turkey: Evidence from Symmetric and Asymmetric Causality Analysisen_US
dc.typeArticleen_US

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