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Causality and Long-term Analysis between Investments and Exports in Turkey

Year 2021, Volume: 6 Issue: 3, 250 - 260, 22.09.2021
https://doi.org/10.23834/isrjournal.992088

Abstract

This study examined causality association and short- and long-term relationship between investments and exports in Turkey for the period of 1980–2019. After detecting that series of investment and export are stationary at first differences based on KPSS stationarity test, a co-integration test was implemented by employing the autoregressive distributed lag (ARDL) bound test, the results of which disclosed that investments and exports in Turkey are co-integrated and move together over the long-term. The long-term coefficient estimation findings showed that investments positively and statistically significantly affect exports over the long-term. In other words, an increase in the investment level by 1% induced increase in the export level by 0.13% over the long-term. Meantime the estimated model had no problems with regard to autocorrelation, heteroscedasticity, normality, and model specification. Finally, the causality test results indicated that there was only a one-way causality relationship running from the investments to the exports.

References

  • Abraham, F., & Brock, E. (2003). Sectoral employment effects of trade and productivity in Europe. Applied Economics, 35(2), 223-238
  • Ahmad, J., & Harnhirun, S. (1995). Unit roots and cointegration in estimating causality between exports and economic growth: empirical evidence from the ASEAN countries. Economics letters, 49(3), 329-334.
  • Aitken, B., Hanson, G. H., & Harrison, A. E. (1997). Spillovers, foreign investment, and export behavior. Journal of International economics, 43(1-2), 103-132.
  • Akcan, A. T. (2019). İhracat Değer Endeksi ve Yatırım İlişkisi: Türkiye Örneği (1982-2017). Girişimcilik ve Kalkınma Dergisi, 14(1), 11-18.
  • Amighini, A., & Sanfilippo, M. (2014). Impact of South–South FDI and trade on the export upgrading of African economies. World Development, 64, 1-17.
  • Antonietti, R., & Marzucchi, A. (2014). Green tangible investment strategies and export performance: A firm-level investigation. Ecological economics, 108, 150-161.
  • Anwar, S., & Sun, S. (2018). Foreign direct investment and export quality upgrading in China's manufacturing sector. International Review of Economics & Finance, 54, 289-298.
  • Arteaga, J. C., Cardozo, M. L., & Diniz, M. J. T. (2020). Exports to China and economic growth in Latin America, unequal effects within the region. International Economics, 164, 1-17.
  • Aw, B. Y., & Hwang, A. R. M. (1995). Productivity and the export market: A firm-level analysis. Journal of development economics, 47(2), 313-332.
  • Awokuse, T. O. (2007). Causality between exports, imports, and economic growth: Evidence from transition economies. Economics letters, 94(3), 389-395.
  • Aurangzeb, A. Z. (2006). Exports, productivity and economic growth in Pakistan: a time series analysis. Lahore Journal of Economics, 11(1), 1-18.
  • Bahramian, P., & Saliminezhad, A. (2020). On the relationship between export and economic growth: A nonparametric causality-in-quantiles approach for Turkey. The Journal of International Trade & Economic Development, 29(1), 131-145.
  • Bernard, A. B., & Jensen, J. B. (1999). Exceptional exporter performance: cause, effect, or both?. Journal of international economics, 47(1), 1-25.
  • Bernard, A. B., & Wagner, J. (1997). Exports and success in German manufacturing. Weltwirtschaftliches Archiv, 133(1), 134-157.
  • Boghean, C., & State, M. (2015). The relation between foreign direct investments (FDI) and labour productivity in the European Union countries. Procedia Economics and Finance, 32, 278-285.
  • Boly, A., Coniglio, N. D., Prota, F., & Seric, A. (2014). Diaspora investments and firm export performance in selected sub-Saharan African countries. World Development, 59, 422-433.
  • Chandra Parida, P., & Sahoo, P. (2007). Export-led growth in South Asia: a panel cointegration analysis. International Economic Journal, 21(2), 155-175.
  • Dalgıç, B., Fazlıoğlu, B., & Gasiorek, M. (2021). Does it matter where you export and does productivity rise with exporting? The Journal of International Trade & Economic Development, 1-26.
  • Debnath, A., Roy, N., Dasgupta, P., & Mazumder, N. (2014). On productivity differential of export composition: evidence from India. Journal of Chinese Economic and Foreign Trade Studies, 7(1), 38-50.
  • Dessing, M. (2002). The Impact of Trade on Employment in Eighteen Less-Industrialized Countries: An Econometric Analysis. Canadian Journal of Development Studies, 23(4), 743-774.
  • Dones Tacero, M., Heredero de Pablos, M. I., & Ruesga Benito, S. M. (2017). Exports and employment in the Spanish economy: A repetitive pattern. Investigación económica, 76(301), 137-169.
  • Dreger, C., & Herzer, D. (2013). A further examination of the export-led growth hypothesis. Empirical Economics, 45(1), 39-60.
  • Elheddad, M. (2019). Foreign direct investment and domestic investment: Do oil sectors matter? Evidence from oil-exporting Gulf Cooperation Council economies. Journal of Economics and Business, 103, 1-12.
  • Esaku, S. (2021). Export markets and firm productivity in Sub-Saharan Africa. Journal of African Business, 22(2), 254-273.
  • Feenstra, R. C., Ma, H., & Xu, Y. (2019). US exports and employment. Journal of International Economics, 120, 46-58.
  • Fu, X. (2005). Exports, technical progress and productivity growth in a transition economy: a non-parametric approach for China. Applied economics, 37(7), 725-739.
  • Fujita, N., & James, W. E. (1997). Employment creation and manufactured exports in Indonesia, 1980–90. Bulletin of Indonesian Economic Studies, 33(1), 103-115.
  • Girma, S., Görg, H., & Strobl, E. (2004). Exports, international investment, and plant performance: evidence from a non-parametric test. Economics Letters, 83(3), 317-324.
  • Gkypali, A., Love, J. H., & Roper, S. (2021). Export status and SME productivity: Learning-to-export versus learning-by-exporting. Journal of Business Research, 128, 486-498.
  • Gokmenoglu, K. K., Sehnaz, Z., & Taspinar, N. (2015). The export-led growth: A case study of Costa Rica. Procedia Economics and Finance, 25, 471-477.
  • Gomes, A. O., Alves, S. T., & Silva, J. T. (2018). Effects of investment in information and communication technologies on productivity of courts in Brazil. Government Information Quarterly, 35(3), 480-490.
  • Greenaway, D., Guariglia, A., & Kneller, R. (2007). Financial factors and exporting decisions. Journal of international economics, 73(2), 377-395.
  • Güloğlu, B., Bayar, G., & Tokpunar, S. (2020). Effect of foreign trade on industrial employment: the case of Turkey. Applied Economics, 52(55), 6075-6089.
  • Hutchison, M., & Singh, N. (1992). Exports, Non-Exports and Externalities: A Granger Causality Approach. International Economic Journal, 6(2), 79-94.
  • Ibrahim, I., & MacPhee, C. R. (2003). Export externalities and economic growth. Journal of International Trade & Economic Development, 12(3), 257-283.
  • Khanna, R., & Sharma, C. (2018). Testing the effect of investments in IT and R&D on labour productivity: New method and evidence for Indian firms. Economics Letters, 173, 30-34.
  • Le, V., & Valadkhani, A. (2014). Are exporting manufacturing SMEs more efficient than non-exporting ones? Evidence from Australia’s business longitudinal database. Economic Analysis and Policy, 44(3), 310-317.
  • Leclair, M. S. (2002). Export Composition and Manufacturing Employment in the US during the Economic Downturn of 1991-92. Economic Systems Research, 14(2), 147-156.
  • Lee, J. (2011). Export specialization and economic growth around the world. Economic systems, 35(1), 45-63.
  • Li, J., Miao, E., & Zhang, J. (2021). The legal environment, specialized investments, incomplete contracts, and labor productivity. China Economic Review, 66, 101583.
  • Li, C., & Tanna, S. (2019). The impact of foreign direct investment on productivity: New evidence for developing countries. Economic Modelling, 80, 453-466.
  • Liang, F. H. (2017). Does foreign direct investment improve the productivity of domestic firms? Technology spillovers, industry linkages, and firm capabilities. Research Policy, 46(1), 138-159.
  • Lin, B., Du, R., Dong, Z., Jin, S., & Liu, W. (2020). The impact of foreign direct investment on the productivity of the Chinese forest products industry. Forest Policy and Economics, 111, 102035.
  • Lin, B., Du, R., Dong, Z., Jin, S., & Liu, W. (2020). The impact of foreign direct investment on the productivity of the Chinese forest products industry. Forest Policy and Economics, 111, 102035.
  • Liu, Q., & Lu, Y. (2015). Firm investment and exporting: Evidence from China's value-added tax reform. Journal of International Economics, 97(2), 392-403.
  • Love, J. H., & Mansury, M. A. (2009). Exporting and productivity in business services: Evidence from the United States. International Business Review, 18(6), 630-642.
  • Majeed, M. T., & Ahmad, E. (2006). Determinants of exports in developing countries. Pakistan Development Review, 45(4), 1265-1277.
  • Melitz, M. J. (2003). The impact of trade on intra‐industry reallocations and aggregate industry productivity. econometrica, 71(6), 1695-1725.
  • Okpara, J. O. (2009). Strategic choices, export orientation and export performance of SMEs in Nigeria. Management Decision, 47(8), 1281-1299.
  • Qiu, S., Wang, Z., & Geng, S. (2021). How do environmental regulation and foreign investment behavior affect green productivity growth in the industrial sector? An empirical test based on Chinese provincial panel data. Journal of Environmental Management, 287, 112282.
  • Quaicoe, A., Aboagye, A. Q., & Bokpin, G. A. (2017). Assessing the impact of export processing zones on economic growth in Ghana. Research in International Business and Finance, 42, 1150-1163.
  • Peluffo, A. (2016). The role of investments in export growth. Small Business Economics, 47(1), 115-137.
  • Portella-Carbó, F. (2016). Effects of international trade on domestic employment: an application of a global multiregional input–output supermultiplier model (1995–2011). Economic Systems Research, 28(1), 95-117.
  • Raiher, A. P., do Carmo, A. S. S., & Stege, A. L. (2017). The effect of technological intensity of exports on the economic growth of Brazilian microregions: A spatial analysis with panel data. EconomiA, 18(3), 310-327.
  • Ramos, F. F. R. (2001). Exports, imports, and economic growth in Portugal: evidence from causality and cointegration analysis. Economic modelling, 18(4), 613-623.
  • Sasahara, A. (2019). Explaining the employment effect of exports: value-added content matters. Journal of the Japanese and International Economies, 52, 1-21
  • Sunde, T. (2017). Foreign direct investment, exports and economic growth: ADRL and causality analysis for South Africa. Research in International Business and Finance, 41, 434-444.
  • Tekin, R. B. (2012). Economic growth, exports and foreign direct investment in Least Developed Countries: A panel Granger causality analysis. Economic modelling, 29(3), 868-878.
  • Thornton, J. (1997). Exports and economic growth: Evidence from 19th Century Europe. Economics Letters, 55(2), 235-240.
  • Vu, H. V., Holmes, M., Tran, T. Q., & Lim, S. (2016). Firm exporting and productivity: what if productivity is no longer a black box. Baltic Journal of Economics, 16(2), 95-113.
  • Waheed, R., Sarwar, S., & Dignah, A. (2020). The role of non-oil exports, tourism and renewable energy to achieve sustainable economic growth: What we learn from the experience of Saudi Arabia. Structural Change and Economic Dynamics, 55, 49-58.
  • Weeks, J. (2001). Exports, foreign investment and growth in Latin America (No. 117). Working Paper Series.
  • Yang, C. H., & Chen, Y. H. (2012). R&D, productivity, and exports: Plant-level evidence from Indonesia. Economic Modelling, 29(2), 208-216.
  • Yu, D., Li, X., Yu, J., & Li, H. (2021). The impact of the spatial agglomeration of foreign direct investment on green total factor productivity of Chinese cities. Journal of Environmental Management, 290, 112666.
  • Zhou, C. (2020). The effects of outward FDI and export on firm productivity in emerging markets: Evidence from matching approach. Economics Letters, 195, 109462.

Türkiye’de Yatırımlar ve İhracat Arasındaki Nedensellik ve Uzun Dönem Analizi

Year 2021, Volume: 6 Issue: 3, 250 - 260, 22.09.2021
https://doi.org/10.23834/isrjournal.992088

Abstract

Bu çalışma yatırımlar ve ihracat değişkenleri arasındaki nedensellik ve kısa-uzun dönem ilişkiyi Türkiye’nin 1980-2019 dönemi verileri ile açıklamaktadır. KPSS durağanlık testine bağlı olarak yatırımlar ve ihracat serilerinin birinci farklarının durağan olduğuna ulaşılmasından sonra ARDL sınır testini istihdam ederek bir eş bütünleşme testi uygulanmıştır. Bu analiz sonuçları Türkiye’de yatırımlar ve ihracat değişkenlerinin eş bütünleşik olduğu ve uzun dönemde birlikte hareket ettiği sonucuna ulaşılmıştır. Uzun dönem katsayı tahmin bulguları uzun dönemde yatırımların ihracatı pozitif yönlü istatistiksel olarak anlamlı etkileyeceğini göstermektedir. Başka bir deyişle, yatırımlardaki %1’lik bir artışın, uzun dönemde ihracat seviyesinde %0,13 kadar bir artışa neden olmaktadır. Ayrıca tahmin edilen model; oto korelasyon, değişen varyans, normallik ve model belirleme ile ilişkili problemlere sahip bulunmamaktadır. Sonuç olarak; nedensellik test sonuçları, yatırımlardan ihracata doğru tek yönlü bir nedensellik ilişkisi olduğu sonucuna ulaşmaktadır.

References

  • Abraham, F., & Brock, E. (2003). Sectoral employment effects of trade and productivity in Europe. Applied Economics, 35(2), 223-238
  • Ahmad, J., & Harnhirun, S. (1995). Unit roots and cointegration in estimating causality between exports and economic growth: empirical evidence from the ASEAN countries. Economics letters, 49(3), 329-334.
  • Aitken, B., Hanson, G. H., & Harrison, A. E. (1997). Spillovers, foreign investment, and export behavior. Journal of International economics, 43(1-2), 103-132.
  • Akcan, A. T. (2019). İhracat Değer Endeksi ve Yatırım İlişkisi: Türkiye Örneği (1982-2017). Girişimcilik ve Kalkınma Dergisi, 14(1), 11-18.
  • Amighini, A., & Sanfilippo, M. (2014). Impact of South–South FDI and trade on the export upgrading of African economies. World Development, 64, 1-17.
  • Antonietti, R., & Marzucchi, A. (2014). Green tangible investment strategies and export performance: A firm-level investigation. Ecological economics, 108, 150-161.
  • Anwar, S., & Sun, S. (2018). Foreign direct investment and export quality upgrading in China's manufacturing sector. International Review of Economics & Finance, 54, 289-298.
  • Arteaga, J. C., Cardozo, M. L., & Diniz, M. J. T. (2020). Exports to China and economic growth in Latin America, unequal effects within the region. International Economics, 164, 1-17.
  • Aw, B. Y., & Hwang, A. R. M. (1995). Productivity and the export market: A firm-level analysis. Journal of development economics, 47(2), 313-332.
  • Awokuse, T. O. (2007). Causality between exports, imports, and economic growth: Evidence from transition economies. Economics letters, 94(3), 389-395.
  • Aurangzeb, A. Z. (2006). Exports, productivity and economic growth in Pakistan: a time series analysis. Lahore Journal of Economics, 11(1), 1-18.
  • Bahramian, P., & Saliminezhad, A. (2020). On the relationship between export and economic growth: A nonparametric causality-in-quantiles approach for Turkey. The Journal of International Trade & Economic Development, 29(1), 131-145.
  • Bernard, A. B., & Jensen, J. B. (1999). Exceptional exporter performance: cause, effect, or both?. Journal of international economics, 47(1), 1-25.
  • Bernard, A. B., & Wagner, J. (1997). Exports and success in German manufacturing. Weltwirtschaftliches Archiv, 133(1), 134-157.
  • Boghean, C., & State, M. (2015). The relation between foreign direct investments (FDI) and labour productivity in the European Union countries. Procedia Economics and Finance, 32, 278-285.
  • Boly, A., Coniglio, N. D., Prota, F., & Seric, A. (2014). Diaspora investments and firm export performance in selected sub-Saharan African countries. World Development, 59, 422-433.
  • Chandra Parida, P., & Sahoo, P. (2007). Export-led growth in South Asia: a panel cointegration analysis. International Economic Journal, 21(2), 155-175.
  • Dalgıç, B., Fazlıoğlu, B., & Gasiorek, M. (2021). Does it matter where you export and does productivity rise with exporting? The Journal of International Trade & Economic Development, 1-26.
  • Debnath, A., Roy, N., Dasgupta, P., & Mazumder, N. (2014). On productivity differential of export composition: evidence from India. Journal of Chinese Economic and Foreign Trade Studies, 7(1), 38-50.
  • Dessing, M. (2002). The Impact of Trade on Employment in Eighteen Less-Industrialized Countries: An Econometric Analysis. Canadian Journal of Development Studies, 23(4), 743-774.
  • Dones Tacero, M., Heredero de Pablos, M. I., & Ruesga Benito, S. M. (2017). Exports and employment in the Spanish economy: A repetitive pattern. Investigación económica, 76(301), 137-169.
  • Dreger, C., & Herzer, D. (2013). A further examination of the export-led growth hypothesis. Empirical Economics, 45(1), 39-60.
  • Elheddad, M. (2019). Foreign direct investment and domestic investment: Do oil sectors matter? Evidence from oil-exporting Gulf Cooperation Council economies. Journal of Economics and Business, 103, 1-12.
  • Esaku, S. (2021). Export markets and firm productivity in Sub-Saharan Africa. Journal of African Business, 22(2), 254-273.
  • Feenstra, R. C., Ma, H., & Xu, Y. (2019). US exports and employment. Journal of International Economics, 120, 46-58.
  • Fu, X. (2005). Exports, technical progress and productivity growth in a transition economy: a non-parametric approach for China. Applied economics, 37(7), 725-739.
  • Fujita, N., & James, W. E. (1997). Employment creation and manufactured exports in Indonesia, 1980–90. Bulletin of Indonesian Economic Studies, 33(1), 103-115.
  • Girma, S., Görg, H., & Strobl, E. (2004). Exports, international investment, and plant performance: evidence from a non-parametric test. Economics Letters, 83(3), 317-324.
  • Gkypali, A., Love, J. H., & Roper, S. (2021). Export status and SME productivity: Learning-to-export versus learning-by-exporting. Journal of Business Research, 128, 486-498.
  • Gokmenoglu, K. K., Sehnaz, Z., & Taspinar, N. (2015). The export-led growth: A case study of Costa Rica. Procedia Economics and Finance, 25, 471-477.
  • Gomes, A. O., Alves, S. T., & Silva, J. T. (2018). Effects of investment in information and communication technologies on productivity of courts in Brazil. Government Information Quarterly, 35(3), 480-490.
  • Greenaway, D., Guariglia, A., & Kneller, R. (2007). Financial factors and exporting decisions. Journal of international economics, 73(2), 377-395.
  • Güloğlu, B., Bayar, G., & Tokpunar, S. (2020). Effect of foreign trade on industrial employment: the case of Turkey. Applied Economics, 52(55), 6075-6089.
  • Hutchison, M., & Singh, N. (1992). Exports, Non-Exports and Externalities: A Granger Causality Approach. International Economic Journal, 6(2), 79-94.
  • Ibrahim, I., & MacPhee, C. R. (2003). Export externalities and economic growth. Journal of International Trade & Economic Development, 12(3), 257-283.
  • Khanna, R., & Sharma, C. (2018). Testing the effect of investments in IT and R&D on labour productivity: New method and evidence for Indian firms. Economics Letters, 173, 30-34.
  • Le, V., & Valadkhani, A. (2014). Are exporting manufacturing SMEs more efficient than non-exporting ones? Evidence from Australia’s business longitudinal database. Economic Analysis and Policy, 44(3), 310-317.
  • Leclair, M. S. (2002). Export Composition and Manufacturing Employment in the US during the Economic Downturn of 1991-92. Economic Systems Research, 14(2), 147-156.
  • Lee, J. (2011). Export specialization and economic growth around the world. Economic systems, 35(1), 45-63.
  • Li, J., Miao, E., & Zhang, J. (2021). The legal environment, specialized investments, incomplete contracts, and labor productivity. China Economic Review, 66, 101583.
  • Li, C., & Tanna, S. (2019). The impact of foreign direct investment on productivity: New evidence for developing countries. Economic Modelling, 80, 453-466.
  • Liang, F. H. (2017). Does foreign direct investment improve the productivity of domestic firms? Technology spillovers, industry linkages, and firm capabilities. Research Policy, 46(1), 138-159.
  • Lin, B., Du, R., Dong, Z., Jin, S., & Liu, W. (2020). The impact of foreign direct investment on the productivity of the Chinese forest products industry. Forest Policy and Economics, 111, 102035.
  • Lin, B., Du, R., Dong, Z., Jin, S., & Liu, W. (2020). The impact of foreign direct investment on the productivity of the Chinese forest products industry. Forest Policy and Economics, 111, 102035.
  • Liu, Q., & Lu, Y. (2015). Firm investment and exporting: Evidence from China's value-added tax reform. Journal of International Economics, 97(2), 392-403.
  • Love, J. H., & Mansury, M. A. (2009). Exporting and productivity in business services: Evidence from the United States. International Business Review, 18(6), 630-642.
  • Majeed, M. T., & Ahmad, E. (2006). Determinants of exports in developing countries. Pakistan Development Review, 45(4), 1265-1277.
  • Melitz, M. J. (2003). The impact of trade on intra‐industry reallocations and aggregate industry productivity. econometrica, 71(6), 1695-1725.
  • Okpara, J. O. (2009). Strategic choices, export orientation and export performance of SMEs in Nigeria. Management Decision, 47(8), 1281-1299.
  • Qiu, S., Wang, Z., & Geng, S. (2021). How do environmental regulation and foreign investment behavior affect green productivity growth in the industrial sector? An empirical test based on Chinese provincial panel data. Journal of Environmental Management, 287, 112282.
  • Quaicoe, A., Aboagye, A. Q., & Bokpin, G. A. (2017). Assessing the impact of export processing zones on economic growth in Ghana. Research in International Business and Finance, 42, 1150-1163.
  • Peluffo, A. (2016). The role of investments in export growth. Small Business Economics, 47(1), 115-137.
  • Portella-Carbó, F. (2016). Effects of international trade on domestic employment: an application of a global multiregional input–output supermultiplier model (1995–2011). Economic Systems Research, 28(1), 95-117.
  • Raiher, A. P., do Carmo, A. S. S., & Stege, A. L. (2017). The effect of technological intensity of exports on the economic growth of Brazilian microregions: A spatial analysis with panel data. EconomiA, 18(3), 310-327.
  • Ramos, F. F. R. (2001). Exports, imports, and economic growth in Portugal: evidence from causality and cointegration analysis. Economic modelling, 18(4), 613-623.
  • Sasahara, A. (2019). Explaining the employment effect of exports: value-added content matters. Journal of the Japanese and International Economies, 52, 1-21
  • Sunde, T. (2017). Foreign direct investment, exports and economic growth: ADRL and causality analysis for South Africa. Research in International Business and Finance, 41, 434-444.
  • Tekin, R. B. (2012). Economic growth, exports and foreign direct investment in Least Developed Countries: A panel Granger causality analysis. Economic modelling, 29(3), 868-878.
  • Thornton, J. (1997). Exports and economic growth: Evidence from 19th Century Europe. Economics Letters, 55(2), 235-240.
  • Vu, H. V., Holmes, M., Tran, T. Q., & Lim, S. (2016). Firm exporting and productivity: what if productivity is no longer a black box. Baltic Journal of Economics, 16(2), 95-113.
  • Waheed, R., Sarwar, S., & Dignah, A. (2020). The role of non-oil exports, tourism and renewable energy to achieve sustainable economic growth: What we learn from the experience of Saudi Arabia. Structural Change and Economic Dynamics, 55, 49-58.
  • Weeks, J. (2001). Exports, foreign investment and growth in Latin America (No. 117). Working Paper Series.
  • Yang, C. H., & Chen, Y. H. (2012). R&D, productivity, and exports: Plant-level evidence from Indonesia. Economic Modelling, 29(2), 208-216.
  • Yu, D., Li, X., Yu, J., & Li, H. (2021). The impact of the spatial agglomeration of foreign direct investment on green total factor productivity of Chinese cities. Journal of Environmental Management, 290, 112666.
  • Zhou, C. (2020). The effects of outward FDI and export on firm productivity in emerging markets: Evidence from matching approach. Economics Letters, 195, 109462.
There are 65 citations in total.

Details

Primary Language English
Journal Section Articles
Authors

Mustafa Ünver 0000-0002-0491-3080

Publication Date September 22, 2021
Submission Date September 7, 2021
Published in Issue Year 2021 Volume: 6 Issue: 3

Cite

APA Ünver, M. (2021). Causality and Long-term Analysis between Investments and Exports in Turkey. The Journal of International Scientific Researches, 6(3), 250-260. https://doi.org/10.23834/isrjournal.992088