Please use this identifier to cite or link to this item: https://hdl.handle.net/11147/5686
Title: Dynamics of business cycle synchronization in Turkey
Authors: Duran, Hasan Engin
Duran, Hasan Engin
Izmir Institute of Technology. City and Regional Planning
Keywords: Agglomeration
Industrial dissimilarity
Regional business cycles
Synchronization
Issue Date: 2015
Publisher: Savez Ekonomista Vojvodine
Source: Duran, H. E. (2015). Dynamics of business cycle synchronization in Turkey. Panoeconomicus, 62(5), 581-606. doi:10.2298/PAN1505581D
Abstract: The aim of the present article is to investigate the economic determinants of the synchronization across regional business cycles in Turkey between 1975 and 2010. The vast majority of studies in this field have concentrated on well-known determinants, such as inter-regional trade, financial integration, and industrial specialization, while largely ignoring spatial and geographical factors, including differences across regions in agglomeration, localization economies, market size, and urbanization. In this article, we incorporate these variables into our analysis and evaluate their roles in the comovement of regional business cycles. Our findings indicate two major results: first, low degree of synchronization during 1975-2000 has switched to relatively more correlated and synchronously moving regional cycles during 2004-2010. Second, having tested the variety of determinants, we find that the pairs of regions that have more similar industrial structure and market size, trade integration, and arbitrary degree of agglomeration and urbanization tend to synchronize more. Significance of these variables is robustly evident regardless of the time period analyzed and of the type of methodology employed.
URI: http://doi.org/10.2298/PAN1505581D
http://hdl.handle.net/11147/5686
ISSN: 1452-595X
1452-595X
Appears in Collections:City and Regional Planning / Şehir ve Bölge Planlama
Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection
WoS İndeksli Yayınlar Koleksiyonu / WoS Indexed Publications Collection

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