Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures

Yıldırım Beyazıt ÇİÇEN (Gümüşhane Üniversite, İktisat Bölümü, Gümüşhane, Türkiye)
Sosyoekonomi
1 1
Yıl: 2021 Cilt: 29 Sayı: 48 Sayfa Aralığı: 127 - 143 Metin Dili: İngilizce DOI: 10.17233/sosyoekonomi.2021.02.07 İndeks Tarihi: 09-10-2021

Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures

Öz:
Institutional structure and quality of management are the main elements that form the politicalrisks. Political threats are directly linked to the institutional structure and the institutional design.Political risks increase if the government mechanisms fail. Increasing institutional quality reduces thepolitical risks and positively impacts the financial risks. Monthly data from different indices are usedto analyse the relationship between Turkey's political risks and financial risks between 2002 and 2015.According to the Fourier analysis of cointegration, there is a long-term relationship between thepolitical and financial risks. Besides, as per the Fully Modified Ordinary Least Squares (FMOLS)findings and the Dynamic Ordinary Least Squares (DOLS) models, an increase in the political riskincreases the financial risk
Anahtar Kelime:

Türkiye’de Politik ve Finansal Riskler Arasındaki İlişki: Kurumsal Yapılara Dair Fourier Eşbütünleşme Analizinden Kanıt

Öz:
Kurumsal yapı ve yönetim kalitesi politik riskleri oluşturan ana unsurlardır. Politik riskler doğrudan kurumsal yapı ve kurumsal tasarıma bağlıdır. Hükümet mekanizmaları başarısız olduğu takdirde siyasi riskler artmaktadır. Kurumsal kalitenin arttırılması politik riskleri azaltır ve ayrıca finansal riskler üzerinde olumlu bir etkisi bulunmaktadır. Bu analizde Türkiye’de politik riskler ile finansal riskler arasındaki ilişki 2002-2015 yılları dönemine ait aylık veriler kullanılarak analiz edilmiştir. Fourier’in eşbütünleşme analizine bulgularına göre, politik ve finansal riskler arasında uzun dönemli bir ilişki bulunmaktadır. Ayrıca FMOLS ve DOLS modellerinden elde edilen bulguya göre politik riskteki artış finansal riskleri artırmaktadır.
Anahtar Kelime:

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APA ÇIÇEN Y (2021). Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures. , 127 - 143. 10.17233/sosyoekonomi.2021.02.07
Chicago ÇIÇEN YILDIRIM BEYAZIT Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures. (2021): 127 - 143. 10.17233/sosyoekonomi.2021.02.07
MLA ÇIÇEN YILDIRIM BEYAZIT Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures. , 2021, ss.127 - 143. 10.17233/sosyoekonomi.2021.02.07
AMA ÇIÇEN Y Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures. . 2021; 127 - 143. 10.17233/sosyoekonomi.2021.02.07
Vancouver ÇIÇEN Y Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures. . 2021; 127 - 143. 10.17233/sosyoekonomi.2021.02.07
IEEE ÇIÇEN Y "Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures." , ss.127 - 143, 2021. 10.17233/sosyoekonomi.2021.02.07
ISNAD ÇIÇEN, YILDIRIM BEYAZIT. "Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures". (2021), 127-143. https://doi.org/10.17233/sosyoekonomi.2021.02.07
APA ÇIÇEN Y (2021). Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures. Sosyoekonomi, 29(48), 127 - 143. 10.17233/sosyoekonomi.2021.02.07
Chicago ÇIÇEN YILDIRIM BEYAZIT Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures. Sosyoekonomi 29, no.48 (2021): 127 - 143. 10.17233/sosyoekonomi.2021.02.07
MLA ÇIÇEN YILDIRIM BEYAZIT Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures. Sosyoekonomi, vol.29, no.48, 2021, ss.127 - 143. 10.17233/sosyoekonomi.2021.02.07
AMA ÇIÇEN Y Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures. Sosyoekonomi. 2021; 29(48): 127 - 143. 10.17233/sosyoekonomi.2021.02.07
Vancouver ÇIÇEN Y Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures. Sosyoekonomi. 2021; 29(48): 127 - 143. 10.17233/sosyoekonomi.2021.02.07
IEEE ÇIÇEN Y "Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures." Sosyoekonomi, 29, ss.127 - 143, 2021. 10.17233/sosyoekonomi.2021.02.07
ISNAD ÇIÇEN, YILDIRIM BEYAZIT. "Relationship between Political and Financial Risks in Turkey: Evidence from Fourier Cointegration Analysis Regarding Institutional Structures". Sosyoekonomi 29/48 (2021), 127-143. https://doi.org/10.17233/sosyoekonomi.2021.02.07
Sayfa Oluşturulma Tarihi
08-05-2024 12:32

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