The regime switching evidence of financial-economic-political risk in Turkey

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dc.authorscopusid57188848531
dc.authorscopusid57202608331
dc.contributor.authorKirikkaleli, Dervis
dc.contributor.authorAlola, Andrew Adewale
dc.date.accessioned2024-09-11T19:57:27Z
dc.date.available2024-09-11T19:57:27Z
dc.date.issued2023
dc.departmentİstanbul Gelişim Üniversitesien_US
dc.description.abstractIn recent time, Turkey could be said to have experienced different levels of Economic Risk, Financial Risk, and Political Risk from low- to high-level. This study investigates the linkage between country risks, namely Financial Risk, Economic Risk, and Political Risk (FEP risk) in Turkey for the period 1984Q1 to 2019Q1 by using threshold cointegration, Markow-switching regression (given the nonlinearity and structural breaks observed in the time series variables), and frequency domain causality approaches. The empirical findings of this study reveal that (i) nonlinear cointegration between Economic Risk, Financial Risk, and Political Risk in Turkey is statistically significant given the evidence of threshold cointegration test, which determines the structural breaks endogenously; (ii) there is positive linkage among the component of country risk at different volatility periods; (iii) there is a significant Granger causal linkage between Economic Risk, Financial Risk and Political Risk at the different frequency levels. The study is likely to open debate about the literature since the study concludes with a discussion on short-run and long-run implications for economic, political, and financial stabilises, thus offering policy suggestions for the policymakers in Turkey. © 2022, The Author(s).en_US
dc.identifier.doi10.1007/s11135-022-01529-z
dc.identifier.endpage3762en_US
dc.identifier.issn0033-5177en_US
dc.identifier.issue4en_US
dc.identifier.scopus2-s2.0-85138552366en_US
dc.identifier.scopusqualityQ1en_US
dc.identifier.startpage3747en_US
dc.identifier.urihttps://doi.org/10.1007/s11135-022-01529-z
dc.identifier.urihttps://hdl.handle.net/11363/8270
dc.identifier.volume57en_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherSpringer Science and Business Media B.V.en_US
dc.relation.ispartofQuality and Quantityen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.snmz20240903_Gen_US
dc.subjectEconomic risk; Financial risk; Frequency domain causality; Political risk; Threshold cointegration; Turkeyen_US
dc.titleThe regime switching evidence of financial-economic-political risk in Turkeyen_US
dc.typeArticleen_US

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