African Journal of
Business Management

  • Abbreviation: Afr. J. Bus. Manage.
  • Language: English
  • ISSN: 1993-8233
  • DOI: 10.5897/AJBM
  • Start Year: 2007
  • Published Articles: 4194

Full Length Research Paper

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

Melike Bildirici*, Elçin A. Alp and Fazil Kayikçi
Department of Economics, Yildiz Technical University, Barbaros Bulvari BeÅŸiktaÅŸ, Istanbul, Turkey.
Email: [email protected]

  •  Accepted: 21 December 2010
  •  Published: 04 February 2011

Abstract

 

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.

 

Key words: Growth, hot money, MSVAR-VECM, TAR- cointegration.

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This article is published under the terms of the Creative Commons Attribution License 4.0

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