The Nexus among Competitively Valued Exchange Rates, Price Level, and Growth Performance in the Turkish Economy; New Insight from the Global Value Chains

Currently, global value chains (GVCs) are increasingly shaping the global economy, covering a growing share of international trade, GDP, and employment globally. Global trade is impacted by the emergence of GVCs in areas as diverse as commodities, electronics, and business service outsourcing, among...

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Autores principales:	Umar Aliyu Shuabiu, Mohammed A. M. Usman, Behiye Çavuşoğlu
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	Turkey economic growth ARDL bounds test exchange rate foreign trade Risk in industry. Risk management HD61 Finance HG1-9999
Acceso en línea:	https://doaj.org/article/ccf5a9814be04f239eef6ed224158f98
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spelling	oai:doaj.org-article:ccf5a9814be04f239eef6ed224158f982021-11-25T18:08:35ZThe Nexus among Competitively Valued Exchange Rates, Price Level, and Growth Performance in the Turkish Economy; New Insight from the Global Value Chains10.3390/jrfm141105281911-80741911-8066https://doaj.org/article/ccf5a9814be04f239eef6ed224158f982021-11-01T00:00:00Zhttps://www.mdpi.com/1911-8074/14/11/528https://doaj.org/toc/1911-8066https://doaj.org/toc/1911-8074Currently, global value chains (GVCs) are increasingly shaping the global economy, covering a growing share of international trade, GDP, and employment globally. Global trade is impacted by the emergence of GVCs in areas as diverse as commodities, electronics, and business service outsourcing, among other areas, since the countries involved in the GVCs hold some value(s) and benefit(s) from the exports of the finished product. In this study, the nexus among Competitively Valued Exchange Rates, Price level, and Growth Performance in the Turkish Economy; New insight from the GVCs is investigated using annual data from 1980 to 2020 within the framework of the ARDL bound test, Bayer and Hanck Cointegration (BHC) test, and ECM. The study results revealed that the relationship among real effective exchange rate, exports, and imports induced economic performance and external trade competitiveness particularly when directed at GVCs in both the short and long run. The study recommends that policies enhancing a 10% equilibrium convergence are required annually to competitively minimize the dependence on foreign value-added inputs by importing only world-class inputs for value addition and exports benefits in the competitive GVCs world. Furthermore, monetary policy, GVCs, and economic growth should be investigated.Umar Aliyu ShuabiuMohammed A. M. UsmanBehiye ÇavuşoğluMDPI AGarticleTurkeyeconomic growthARDL bounds testexchange rateforeign tradeRisk in industry. Risk managementHD61FinanceHG1-9999ENJournal of Risk and Financial Management, Vol 14, Iss 528, p 528 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Turkey economic growth ARDL bounds test exchange rate foreign trade Risk in industry. Risk management HD61 Finance HG1-9999
spellingShingle	Turkey economic growth ARDL bounds test exchange rate foreign trade Risk in industry. Risk management HD61 Finance HG1-9999 Umar Aliyu Shuabiu Mohammed A. M. Usman Behiye Çavuşoğlu The Nexus among Competitively Valued Exchange Rates, Price Level, and Growth Performance in the Turkish Economy; New Insight from the Global Value Chains
description	Currently, global value chains (GVCs) are increasingly shaping the global economy, covering a growing share of international trade, GDP, and employment globally. Global trade is impacted by the emergence of GVCs in areas as diverse as commodities, electronics, and business service outsourcing, among other areas, since the countries involved in the GVCs hold some value(s) and benefit(s) from the exports of the finished product. In this study, the nexus among Competitively Valued Exchange Rates, Price level, and Growth Performance in the Turkish Economy; New insight from the GVCs is investigated using annual data from 1980 to 2020 within the framework of the ARDL bound test, Bayer and Hanck Cointegration (BHC) test, and ECM. The study results revealed that the relationship among real effective exchange rate, exports, and imports induced economic performance and external trade competitiveness particularly when directed at GVCs in both the short and long run. The study recommends that policies enhancing a 10% equilibrium convergence are required annually to competitively minimize the dependence on foreign value-added inputs by importing only world-class inputs for value addition and exports benefits in the competitive GVCs world. Furthermore, monetary policy, GVCs, and economic growth should be investigated.
format	article
author	Umar Aliyu Shuabiu Mohammed A. M. Usman Behiye Çavuşoğlu
author_facet	Umar Aliyu Shuabiu Mohammed A. M. Usman Behiye Çavuşoğlu
author_sort	Umar Aliyu Shuabiu
title	The Nexus among Competitively Valued Exchange Rates, Price Level, and Growth Performance in the Turkish Economy; New Insight from the Global Value Chains
title_short	The Nexus among Competitively Valued Exchange Rates, Price Level, and Growth Performance in the Turkish Economy; New Insight from the Global Value Chains
title_full	The Nexus among Competitively Valued Exchange Rates, Price Level, and Growth Performance in the Turkish Economy; New Insight from the Global Value Chains
title_fullStr	The Nexus among Competitively Valued Exchange Rates, Price Level, and Growth Performance in the Turkish Economy; New Insight from the Global Value Chains
title_full_unstemmed	The Nexus among Competitively Valued Exchange Rates, Price Level, and Growth Performance in the Turkish Economy; New Insight from the Global Value Chains
title_sort	nexus among competitively valued exchange rates, price level, and growth performance in the turkish economy; new insight from the global value chains
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/ccf5a9814be04f239eef6ed224158f98
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The Nexus among Competitively Valued Exchange Rates, Price Level, and Growth Performance in the Turkish Economy; New Insight from the Global Value Chains

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