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Article Citation - WoS: 17Citation - Scopus: 17Productivity and Growth in an Unstable Emerging Market Economy: the Case of Turkey, 1960-2004(Routledge Journals, Taylor & Francis Ltd, 2009) Ismihan, Mustafa; Metin-Ozcan, KivilcimThis paper explores sources of growth in the Turkish economy by performing growth accounting exercises over the 1960-2004 period and relevant subperiods. It also analyzes the role of a number of important policy-related factors, such as infrastructure investment, macroeconomic instability, and imports, on total factor productivity (TFP) by performing cointegration and impulse response analyses. The results suggest that both TFP and capital accumulation were crucial sources of growth during the sample period. Nevertheless, TFP growth displayed enormous variation from 1960 to 2004. The descriptive and empirical evidence suggests that TFP is positively affected by imports and public infrastructure investment and negatively affected by macroeconomic instability.Article Citation - WoS: 12Citation - Scopus: 11The Relationship Between Different Price Indices: Evidence From Turkey(Elsevier, 2006) Akdi, Y; Berument, H; Cilasun, SMA possible relationship between the Consumer Price Index and the Wholesale Price Index has been analyzed for long and short-run relationships. Conventional Engle and Granger [Estimation Test Econ. 55(1987) 2251-276] and Johansen's [J. Econ. Dyn. Control 12 (1988) 231-254] cointegration tests give mixed evidence for a possible long-run relationship between those two series. The model-free and seasonally robust peri odogram-based test fails to reject the null of no-cointegration relationship. However, these two series move together in the short run. (c) 2005 Elsevier B.V. All rights reserved.
