Relationship between hot money and economic growth: Tar-cointegration and MS-VAR analysis.


Melike Bildirici*, Elçin A. Alp and Fazil Kayikçi

In this study, the effect of hot money on Turkish economy was studied. The relationship between hot money and economic growth was analyzed through MSVAR-VECM and TAR Cointegration methods by using interest rate, budget deficit, net foreign purchases in the IMKB, the current account deficit, exchange rate and industrial production index variables during 1997 and 2010.

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