Sektörel Reel Efektif Döviz Kurları: Türkiye Uygulaması (Industry Specific Real Effective Exchange Rates: Case of Turkey)

Sektörel Reel Efektif Döviz Kurları: Türkiye Uygulaması (Industry Specific Real Effective Exchange Rates: Case of Turkey)

Title : Industry Specific Real Effective Exchange Rates: Case of Turkey
Number : 12/13
Author(s) : Hülya Saygılı, Gökhan Yılmaz, Sibel Filazioğlu, Hakan Toprak
Language : Turkish
Date : March 2012
Abstract : The aim of this study is to compute industry specific real effective exchange rates (RER) of Turkish manufacturing industry. Considering that sub industries may differ with respect to their competitiveness conditions and foreign trade partners, industry-specific indexes may show different patterns compared to aggregate manufacturing indexes, thus they are expected to be more informative in understanding industrial competitiveness developments. RERs are computed for 10 sub industries that constitute the top list of the Turkish foreign trade. In the analysis, 38 trade partners’ bilateral trade flows for the period of 2004-2008 are used. Countries’ industry-specific weights are computed in a way to account for competition in both domestic markets and in the third country market. Finally, indexes are deflated by using sector specific prices. Results show that industry-specific RERs differ not only across the sub-industries but also from both aggregate CPI and PPI based RERs.
Keywords : Industry specific real effective exchange rates, Manufacturing sub-industries, Competitiveness of Turkish Manufacturing Industry
JEL Codes : C82; F31; L60

Sektörel Reel Efektif Döviz Kurları: Türkiye Uygulaması (Industry Specific Real Effective Exchange Rates: Case of Turkey)
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