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This paper aims to investigate (i) whether there is a certain threshold level that changes the effect of the relative real effective exchange rate on demand for tourism and, (ii) whether the volatility of the relative real effective exchange rate has an impact on demand for international tourism considering the non-linear relationship between the ratio of Turkey’s real effective exchange rate to the real effective exchange rates of 29 OECD countries and the demand for international tourism in Turkey. Empirical results suggest that the real effective exchange rate has a threshold on demand for international tourism. Further, the relative real effective exchange rate volatility generating uncertainty has a significant and negative effect on demand for international tourism.&nbsp

The aim of this paper is to determine potential factors that may influence export sophistication index for both developed and developing countries. The present study calculated export sophistication values for selected developed and developing countries using a specific index (EXPY) proposed by Hausmann, Hwang and Rodrik (2007). Second-generation panel data analyses were subsequently performed to examine determinants of export sophistication index and whether selected developing countries are able to converge to developed countries. Empirical findings reveal that there exists a positive relationship between export sophistication index and foreign direct investments, total domestic savings, educational and research and development (R&D) expenditures. Particularly, the estimation results of the present study also indicate that two developing countries, namely, Malaysia and Romania are able to converge to developed countries in terms exporting performance, whereas Turkey and Bulgaria cannot achieve to converge to developed countries. As a result, developing countries should concentrate on improving their export sophistication index to converge to developed countries.

This paper purposes to determine potential factors influencing the amount of Turkish automotive industry exports. For this purpose, the available data of 68 major trading partners of Turkey in terms of automotive industry exports were utilized for the sample period 2007-2015. Both panel quantile regression and the gravity model of trade approaches were considered to analyze the relevant data. The empirical findings of this paper revealed that the population and the distance variables were found as statistically significant for all quantiles, while the former has positive and the latter has negative signs as expected. Results also indicated that there was a statistically significant positive correlation between GDP per capita and the amount of Turkish automotive industry exports at 10 and 50% quantiles; however, it was not statistically significant at 90% quantile despite its positive sign. Among Turkey’s exporter countries, being a EU member country dummy variable was found to have a statistically significant positive impact on the amount of automotive industry exports. Real exchange rate was not found as a significant determinant of the amount of automotive industry exports. In the lights of empirical evidence obtained from this study, several recommendations were made for Turkey’s future international trade policies. © Springer Nature Singapore Pte Ltd. 2019.

This article investigates the determinants of economic growth and also seeks to determine whether or not the impact of total factor productivity (TFP) changes with respect to the level of development for selected countries. In this manner, the present study examines the impact of gross fixed capital formation, employed labour and the TFP of G-7, G-12 and G-20 countries on real GDP per capita using second-generation panel data analyses over the period 1992–2014. The results reveal that TFP has a greater impact on economic growth than fixed capital formation and employed labour for all country groups. Furthermore, the impact of TFP on economic growth was found to be greater for developed countries than for emerging countries. JEL Classification: C21, C22, C23