International Conference on Eurasian Economies
17-18 September 2013 – St. Petersburg, RUSSIA
Paper detail
Paper ID : 702
Status : Paper published
Language : English
Topic : Finance and Financial Crises
Presenter: Asst. Prof. Dr. Aslı Cansın Doker
Session : 6A Finance II
Analysis of Capital Flight in Developing Countries: A Study on Turkey between 1980 and 2010
Analysis of Capital Flight in Developing Countries: A Study on Turkey between 1980 and 2010
- Asst. Prof. Dr. Ali Özer (Erzincan University, Türkiye)
- Asst. Prof. Dr. Aslı Cansın Doker (Erzincan Binali Yildirim University, Türkiye)
- Asst. Prof. Dr. Adem Türkmen (Erzurum Technical University, Türkiye)
Abstract
The aim of this study is to determine whether there is a relationship between Capital flight and some macroeconomic variables by using anual data between 1980 and 2010 in Turkey. Capital flight measured by World Bank (1985) method, was used as dependent variable and external debt, foreign direct investment, uncertainty, real GDP growth, exchange rates, trade balance and consumer price index were used as independent variables. Ordinary Least squares estimation method, Johansen-Jeselius cointegration test, Granger causality test and variance decomposition results produced by VEC model were used in the study. After those econometrics and economics analysis, this paper put forward that there is a long run relationship between some macroeconomic variables and capital flight.The results show external debt, foreign direct investment inflows, and foreign reserves to be the major effector of capital flight.
JEL codes: C82, C87, F21
Özer, Ali, Doker, Aslı Cansın, Türkmen, Adem (2013). "Analysis of Capital Flight in Developing Countries: A Study on Turkey between 1980 and 2010" in Proceedings of International Conference of Eurasian Economies 2013, pp.172-180, St. Petersburg, RUSSIA.
DOI: https://doi.org/10.36880/C04.00702
