Dış Ticaret ve Enflasyon Arasındaki İlişkinin OECD Ülkeleri için Ekonometrik Analizi
The Econometric Analysis of the Relationship Between Foreign Trade and Inflation for OECD Countries

Author(s): Hasan Alpago, Tuğba Dayıoğlu
Subject(s): Supranational / Global Economy, Economic policy, International relations/trade, Economic development
Published by: Özgür Yayın Dağıtım Ltd. Şti.
Keywords: Trade; foreign trade policies; macroeconomic policies;
Summary/Abstract: The main objective of a country's macroeconomic policies is to maintain high and stable growth while keeping the inflation rate as low as possible. However, in order to achieve this goal, establishing a balance between macroeconomic data emerges as a fundamental problem. In this respect, it is important to analyze the relationship between macroeconomic variables correctly. This study examines the factors taken into account for foreign trade for 28 OECD countries and examines whether economic growth affects inflation. The analysis was made by taking into account the macroeconomic data based on the years 2000-2020. In the study, the effects of variables such as economic growth, exports, imports, foreign direct investment and fixed asset accumulation on inflation were examined. Panel data analysis techniques were used to determine the relationship between variables. The data obtained show that exports, economic growth and foreign direct investment reduce inflation, while imports increase inflation in these countries, that is, in the OECD member countries examined. Selecting the data from OECD member countries in the study is important for a better understanding of Turkey's macroeconomic policies and for the relevant countries to follow similar macroeconomic policies. The validity of the results and the usefulness of the data obtained are therefore of particular importance. As a matter of fact, the fact that Turkey is a candidate country for the EU and has closer geographical and economic relations with OECD member countries has been effective in its selection in this way. In this respect, this study aims to contribute to the correct design of the fight against inflation and foreign trade policies.

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