Impacts of capital inflows on aggregate spending categories: the case of Turkey

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Abstract:

This paper discusses the impact of foreign savings on aggregate spending categories in Turkey. Using the vector autoregressive (VAR) models the major finding is that foreign savings has an increasing effect on consumption. The increase of investment arises from the accelerator effect of consumption, which results in an upward trend in investment in non-tradable sectors. Concluding that the policy of relying on foreign savings, to obtain long-term increases in tradable sector investment and competitiveness is ill-judged.

Document Type: Research Article

DOI: http://dx.doi.org/10.1080/00036840010009847

Publication date: August 20, 2001

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