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Bilateral Trade Elasticities of Turkey

Uz Akdogan, I; (2010) Bilateral Trade Elasticities of Turkey. International Journal of Applied Economics , 7 (1) pp. 28-46. Green open access

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Abstract

This paper investigates the long-run bilateral trade elasticities of Turkey and its major trading countries. In the long run, Turkish bilateral trade is inelastic (with varying sign). Thus, the devaluation or revaluation of the Turkish Lira should be expected to have only a limited impact on Turkey’s trade balance. On the other hand, Turkish trade is income elastic in the long run but income inelastic in the short run. Nevertheless, the Marshall-Lerner condition is satisfied only for Canada, South Korea and the US. Furthermore, switching to the euro has reduced Turkish imports from the EU members and emerging market crises tend to increase Turkish imports.

Type: Article
Title: Bilateral Trade Elasticities of Turkey
Open access status: An open access version is available from UCL Discovery
Publisher version: https://www2.southeastern.edu/orgs/ijae/index_file...
Language: English
Additional information: This version is the version of record. For information on re-use, please refer to the publisher’s terms and conditions.
Keywords: Bilateral income elasticity, bilateral price elasticity, Marshall-Lerner condition, cointegration
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > SSEES
URI: https://discovery.ucl.ac.uk/id/eprint/10086709
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