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The article analyzes the contribution of external and internal markets to the growth of real GDP and changes in the foreign trade balance of Belarus and Russia using methodology developed by the author, which takes into account the gross value added obtained by industries from final markets, both directly and as part of the production and sales chains. Statistical data and model tools of input–output tables were employed. Taking into account the positive impact of the domestic market on GDP growth and its negative impact on the foreign trade balance (when intermediate imports are used in the output of domestic products and when finished imports are consumed), the possibilities and limitations are shown for the model of growth attained by stimulating domestic demand in different structural conditions of the two countries. Understanding the potentials and limitations of the models implemented at the current stage by the two countries makes it possible to identify opportunities for combining state economic policies, to outline strategic solutions for mutually beneficial cooperation in order to accelerate growth rates, and ensure their sustainability. [ABSTRACT FROM AUTHOR]

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The theoretical connection between the exchange rate and the trade balance is explained by the Marshall-Lerner Condition and the J-curve hypothesis. A real depreciation of the local currency makes exports cheaper and imports more expensive, thus improving the trade balance. According to the Marshall-Lerner Condition, the success of real depreciation of the local currency depends on whether the sum of the elasticities of the import and export demand is more than one. Moreover, it is argued that a real depreciation of the local currency does not have an immediate impact on the trade balance, but rather deteriorates it in the short term before getting better in the long term. This is called the J-curve hypothesis, which expresses the dynamic view of the Marshall-Lerner Condition that reflects how devaluation affects the trade balance over time. The purpose of the study is to examine the relationship between the exchange rate and trade balance in Türkiye for the period 2010:1-2022:12. Due to the asymmetric relationship between the variables used, this relationship is analyzed with the Nonlinear Lag Distributed Autoregressive Model (NARDL) approach. The outcomes of the study reveal that the J-curve hypothesis is valid in Türkiye during the period under review. [ABSTRACT FROM AUTHOR]

This study aims to examine the structural changes in inflation and foreign trade balance and to reveal whether regime changes in economic policies are effective in this process for the century-old Turkish economy. This study focuses on determining the structural changes rather than the causes of inflation and foreign trade balance, which are the two most important problems for the Turkish economy for 100 years. For this purpose, structural change periods in the inflation rate and foreign trade balance series for the years 1923-2023 were analyzed within the framework of Bai and Perron (2003) multiple structural change model and HP trend. The findings of the study show that it takes quite a long time for the cycles of variables to reverse in the short and medium term. While there have been very few periods when the inflation trend was negative since the establishment of the Republic of Turkey, it is generally seen that the inflation trend is positive. Evidence from both HP long-term trend analysis and endogenously determined periods of structural change ave revealed that the inflation cycle is permanent and its trend began to increase after the 1970s, remaining high until the 2001 crisis. On the other hand, the results for the coverage ratio show that although there was negative trend and level shift, there was no significant recovery in the coverage ratio, especially after the 1980 export-oriented growth strategy. [ABSTRACT FROM AUTHOR]

Economic security of foreign trade can be measured through a set of different special indicators with no standardised composition and regulations. The purpose of the study is to analyse the existing methods for assessing the level of economic security in the sphere of foreign trade and to develop an optimal system of indicators for its identification. The research involved scientific publications by national and foreign scholars, official statistical data in the field of Russian export and import as well as the following methods - monography, observation, comparison, economic analysis, analogue and hypothetical modelling. The article assesses various indicators for assessing economic security in foreign trade, applied in Russia and abroad. The authors identified the most informative indicators, proposed a number of threshold requirements for them; included two additional indicators (increment rate of counterfeit goods, share of counterfeit goods in imports), developed a rating-based approach to identify high, average, low, critical and catastrophic levels of economic security in the sphere of export/import operations. Foreign trade is an important activity for any state; however, it involves a number of risks and threats to be carefully assessed and minimised. Therefore, it is necessary to select efficient ways of assessing economic security in foreign trade transactions. [ABSTRACT FROM AUTHOR]

In the context of market reforms, expansion and deepening of the integration of the Republic of Belarus and China into the system of world economic relations, the role of foreign trade in the economic development of countries has significantly increased. China is gradually becoming not only the world's largest producer of goods, the most important exporter and importer of capital, but also a source of global economic growth. In the article, the authors analyzed the place and role of the People's Republic of China in the foreign trade turnover of the Republic of Belarus; analyzed the foreign trade balance of the People's Republic of China and the Republic of Belarus, as well as the volume and structure of exports of the Republic of Belarus and the People's Republic of China; studied the issue of state regulation of foreign trade in the People's Republic of China and the Republic of Belarus, and also developed directions for the development of foreign trade cooperation between the Republic of Belarus and the People's Republic of China. В условиях расширения и углубления интеграции Республики Беларусь и Китайской Народной Республики в систему мирохозяйственных связей значительно возросла роль внешней торговли в экономическом развитии стран. Китай постепенно становится не только крупнейшим мировым производителем товаров, важнейшим экспортером и импортером капитала, но и источником глобального экономического роста. В статье авторами проведён анализ места и роли Китайской Народной Республики во внешне- торговом обороте Республики Беларусь; проанализировано внешнеторговое сальдо Китайской Народной Республики и Республики Беларусь, а также объём и структура экспорта Республики Беларусь и Китайской Народной Республики; изучен вопрос государственного регулирования внешней торговли в Китайской Народной Республике и Республике Беларусь, а также разработаны направления развития внешнеторгового сотрудничества Республики Беларусь и Китайской Народной Республики.

R&D investment expenditures are important in the economic structure created by today's information society and globalization process. This importance stems from the added value of R&D activities to the production of high-tech products. This situation is expected to be effective in accelerating R&D activities and transforming economic growth into a stable structure. The new economic order is realized with technological production rather than labor-intensive production. In this production process, economies attach great importance to science-technology policies. Thanks to science-technology policies, countries aim to increase their level of competition. In this research, the relationship between advanced technological commodity exports, economic growth and R&D investment outlays in Turkey and 7 Asian countries was investigated by panel data analysis method including the horizontal section dependency using the data of the period of 2010-2020 and econometric models were created. In Model 1, a 1% increase in R&D investment expenditures increases exports of advanced technology products by 5.41%. In Model 2, a 1% increase in exports of advanced products increases the foreign trade balance by 2.21%. In Model 3, a 1% increase in economic growth increases R&D investment expenditures by 0.72%. [ABSTRACT FROM AUTHOR]

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When it comes to defining the foreign trade relations between Africa and the Republic of Serbia, it should be pointed out that our country achieves the least international trade cooperation with the countries of this continent. According to the data of the Parliamentary Budget Office (2018), Serbian foreign trade is mostly focused on Europe, given that as much as 93% of total exports were directed to European countries, and 80% of imports of goods from Europe. The exchange with African countries is almost negligible: on both the import and import side, Africa took part in less than 1% of the total Serbian foreign trade. Infrastructure development accelerates the pace of economic progress, by strengthening more productive activities, and leads to lower costs for conducting internal and external trade.

In order to ensure military security in a country, defense spending must be done for having a trained army with modern weapon systems. The effects of defense spending, which are not completed once and must be made continuously, are inevitable. This study sought to answer the question of how to influence Turkey's foreign trade balance in defense spending in the years 2000-2018. The Granger causality tests in the E-Views, a Windows-based econometric software program have been used. Defense spending has emerged from the analysis did not affect the foreign trade balance in Turkey. It is observed that the gross domestic product has an impact on the export and import of defense industry products.

Bu çalışma, 1984-2016 dönemi için dış ticaret ve cari işlemler dengesinin iktisadi büyüme üzerindeki etkisini incelemek amacıyla kaleme alınmıştır. Söz konusu dönem için uygulanan en küçük kareler yöntemi ve regresyon analizi sonucunda hem dış ticaret dengesinin hem de cari işlemler dengesinin büyüme oranı üzerinde negatif etkiye sahip olduğu ortaya konulmuştur. En küçük kareler yöntemine göre; büyümedeki değişimlerin %31’i cari işlemler dengesi tarafından açıklanırken, %39’u dış ticaret dengesi tarafından açıklanmaktadır. Ekonomik ve sosyal olayların etkisini ölçmek için oluşturulan kukla değişken eklenmiş modele göre; büyümedeki değişimlerin %43’ü cari işlemler dengesi tarafından açıklanırken, %50’si dış ticaret dengesi tarafından açıklanmaktadır. Çalışmada üç model kurulmuştur. Ekonomik ve sosyal olayların etkisini ölçmek için kukla değişken eklenerek dördüncü model oluşturulmuştur. Cari işlemler fazlası veya daha düşük cari işlemler açığı ile sürdürülebilir büyümenin sağlanması için yurtiçi tasarrufların artırılması gerekmektedir.

In article the structurally-dynamic analysis ofindicators of trade and economic relations of Russia and the countries GCC in 2005—2009 is carried out ascertained that trade and economic cooperation GCC and Russia yet has not reached so-called mature age for which the settled structure of export and import is characteristic. At the same time, the Russian Federation possesses real possibilities to keep the presence at the Arabian world.

The paper reviews the concept of Kitchin cycles and their correlation with the Juglar cycles, revealed by Schumpeter (1939) and the main approaches concerning the cyclical evolution of interwar Romania's economy adopted by Romanian economists. The author proposes a set of indicators to detect the Kitchin cycles of Romania's economy during the interwar years. Those indicators consider the change in the sectoral structure of value added, the dynamics of prices and the features of labor market disequilibria. Therefore, it is possible to identify two Juglar cycles and six Kitchin cycles. Schumpeter's assumption concerning the correlation between Kitchin cycles and Juglar cycles is confirmed. This way, it is possible to define three types of Kitchin cycles that better explain the features of Romanian economy evolution during the analyzed period. The paper finds a low correlation between Kitchin and short political cycles. [ABSTRACT FROM AUTHOR]

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In this study, the real economic activity and monetary policy in the US are examined in comparison with the foreign trade balance and exchange rates, using Qual VAR and nonlinear VAR models. We found that the foreign trade with Brazil, Canada and Mexico do not lead to a possible recession in the US. The value of the domestic currency of Brazil, Canada and Mexico against the US dollar does not contribute to a possible recession over the foreign exchange market. We also show that a contraction in the US economy and contractionary monetary policy will lead to the appreciation of the US dollar by leading to capital inflows. Although the shadow interest rate may have asymmetric effects on the foreign trade balance with Canada and USD/CAD, we find that the foreign trade balance with Mexico and USD/MXN will be affected positively/negatively by an increase/decrease in the shadow interest rate.

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Abstract. The «trade terms» effect as one of the main factors which causes the loss of Ukraine’s income from foreign trade is considered in the research paper. Quantitative assessment calculation of the Ukrainian economy losses gives rather obvious idea of the «trade terms» deterioration and export purchasing power decreasing; namely, it outlines the scale of the Ukrainian economy losses from foreign economic relations. For a long period of time, starting from the beginning of the 2010s, there was the tendency in the world market for outstripping growth in prices for imported by Ukraine finished products compared to the prices of the most of its exported raw materials. So, the annual weight average exported goods price increase for 2015—2019 is 2,7%, while for similar products it is 11,0%. The unstable situation in the trading partner countries led to significant export prices’ decreasing, which had adverse effect on the export’s dynamics. As a result, the «trade terms» have sharply worsened over the years. The amounts of economic losses from the price factor for 2015—2019 are established in the economy as a whole, they are from 74,7% to 202,6% of the goods balance. The outstripping import prices’ growth, which reflects the foreign trade conditions deterioration, creates the opportunity to export more for the same volume of import paying. The adverse effects for Ukraine from participation in the international labor division and exchange are evident in the relative slump in raw materials goods prices, «trade terms» deterioration and they are observed with some deviations during the past decades. Residents’ financial losses are especially significant under the main export goods—cereals and metallurgy products trading. The accelerated export development and the corresponding export quota increasing are primarily associated with the need to compensate the payments increasing for import of fuel, energy and consumer goods. The necessity of reducing state financial support to traditional sectors which have lost their comparative advantage is substantiated for promising sectors which provide the opportunity of the national economy competitiveness increasing. Keywords: trade terms, export, import, payment balance, foreign trade balance. JEL Classification G21, G28, G31 Formulas: 1; fig.: 2; tabl.: 4; bibl.: 14.

International tourism is one of the largest and most highly profitable sectors of the world economy. International tourism takes a special place in the system of world economic relations and universal values, and it contributes to the strengthening of positive trends in the economic, political and sociocultural life of society. Many researchers agree that international tourism has a strong impact on employment, as new jobs are geographically speaking, spread more widely than in other sectors of the economy. At the same time, existing work often does not address in detail and from the point of view of statistical analysis the relationship between tourism and the foreign trade balance of the country. That is why the definition of the role and importance of international tourism in the formation of macroeconomic indicators of the country, in particular - the foreign trade balance - is an extremely pressing issue for the development of the economy of an individual country and the world. This article is devoted to defining the role of international tourism in improving the structure of foreign trade activities. Correlation regression analysis is given. Based on the research carried out, the link between international tourism and the foreign trade balance of the country has been identified. Based on the statistical analysis of the country's data for 1995 - 2018, this showed that there is a correlation of exports of goods from revenues of international tourism. With a 1% increase in international tourism revenues, exports of goods from other industries grow by an average of 0.57%, and the foreign trade balance grows by an average of 0.59%. In this research, the role of tourism in the balance of payments has been proved very significantly.

One of the most fundamental economic problems of developing countries is unemployment. Countries are producing and implementing different economic policies in order to overcome this fundamental problem. Even if the policies that countries implement in the struggle against unemployment are different from each other, there is a single goal that is to increase employment and reduce unemployment. Dış ticaretteki gelişmelerin istihdamı artıracağı yönünde teoride bir beklenti vardır. In this study, In Karabük province, the effect of employment on foreign trade developments of 2006: 1-2017: 12 period has been examined. The econometric analysis in the study was done using the VAR technique in the Greatl program. The main aim of the study is; To analyze the effects of the changes in exports and imports in the period of 2006: 1-2017: 12 in the Karabük province, which is employment in the same period.

The study aims to examine the effects of foreign trade and current account balance on economic growth for 1984- 2016 period. As a result of the least squares method and regression analysis for the period, it is determined that both foreign trade and current account balance have negative effects on the growth rate. According to the least squares method 31% of the changes in growth are explained by current account balance and 39% are explained by the balance of foreign trade. According to the model with dummy variable that is included in order to reveal the impacts of economic and social events while 43% of the changes in growth are explained by current account balance, 50% are explained by foreign trade balance. Three models are estimated in the study. In order to measure the impact of economic and social events, a dummy variable is added, and the fourth model is estimated. In conclusion, it is found that for sustainable growth to be attained with current account surplus or lower current account deficit, domestic savings need to be increased. [ABSTRACT FROM AUTHOR]

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In this study the results obtained from the previous theoretical and practical studies were examined and the factors that determine foreign trade were analyzed. For this purpose, considering the annual data belongs to 1994-2016 period unit root test, Co-integration test, short-term VAR analysis and Granger Causality analysis were performed in order to determine the relationship and the direction of impact between foreign trade balance and determinants of foreign trade. As a result of the econometric analysis we obtained parallel results with the previous literature. While positive relationship has been found between foreign trade balance and foreign direct investments, foreign income and reel exchange rate, negative relationship has been found between domestic consumption and reel interest rate.

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Copyright of Journal of Finance Letters / Maliye Finans Yazıları Dergisi is the property of Maliye Finans Yazilari Yayimcilik Ltd. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Countries have become more often faced with the risk of deficit in their current account by the trade liberalization. These deficits, which frequently encountered in developing countries, can cause serious economic problems. These countries may not be able to adequately deal with environmental issues at the point of risk reduction and may be directed to economic activities that increase environmental degradation. In the study, it was analysed whether current account deficits affect the environmental pollution. For this purpose, it was used panel regression analysis included data sets of 91 countries between 1990-2014 periods. Two important findings have been obtained from the analysis that the data set as developed and developing countries. The first finding is that environmental Kuznets curve is valid. The second one is to determine a significance negative relationship between foreign trade balance and carbon dioxide emissions in developing countries. [ABSTRACT FROM AUTHOR]

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Copyright of Hacettepe University Journal of Economics & Administrative Sciences / Hacettepe Üniversitesi Iktisadi ve Idari Bilimler Fakültesi Dergisi is the property of Hacettepe University, Faculty of Economic & Administrative Sciences and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Wood processing industry (WPI) is a sector based on renewable natural resources of wood raw material. It can, therefore, provide sustainable growth and be competitive on the international markets. The interest of the European Union is to build economy based on renewable natural resources, meaning that it is necessary to pay increased attention to the development and support of the WPI. The aim of the article is to evaluate and compare the level and development of competitiveness of WPI in the Czech and Slovak Republics for a ten year period through the establishment of indicators based on foreign trade data of industry using mathematical and statistical methods. To reach the goal, a system of indicators measuring sectoral competitiveness was set up under the hypothesis: in the WPI the potential of competitiveness is used defi ciently. The resulting indicators have confirmed the hypothesis and shown that, despite the fact that the WPI creates active foreign trade balance and contributes to surplus balance of the country, it achieves low values of indicators implying comparative advantage with a negative, decreasing trend, consequently meaning that industry gradually loses its competitive ability. The analysis also showed that the reason for low competitive ability of WPI is low specialization of the country in the commodity group, which was confi rmed by statistical method of correlation analysis.

Active trade balance was one of the most important factors of financial policy of the Kingdom of Serbs Croats and Slovenes. It was supposed to contribute to the stability of the domestic currency. This intention could not be achived until 1924 since the recovery of the economy of the Kingdom from the great casualties and material hardship in the First World War. In following years, the foreign trade balance was active, except in exceptional drought years of 1927 and 1928. The main items of export were agricultural products alongside with raw materials and semi-finished products. On the other hand, the main items of imports were manufactured goods, materials for the textile industry, different machinery and tools. Great importance for the import into the Kingdom of SHS were on its neighbours. In 1929 they accounted around 38.2% of import, while as the destination of the Yugoslav exports were absolutely dominant with 69.16%. The discrepancy between foreign trade and foreign policy of the Kingdom of SHS was obvious. Although the main Yugoslav ally at the time, France has participated in trade with only a few percent. It was similar practice with another Great War ally: Great Britain. Wider economic relations with Czechoslovakia were hindered by lack of Czech interest to purchase goods from the Kingdom of SHS. On the other hand, the most important partners were Italy, which showed huge belligerence against new Yugoslavian state, and have a strained political relations with Kingdom of SHS throughout the 1920s and Austria and Germany, both bitter enemies form the First World War.

Wood processing industry (WPI) is a sector based on renewable natural resources of wood raw material. It is therefore able of sustainable growth and be competitive on the international markets. The interest of the European Union is to build economy based on renewable natural resources, resulting in the need to pay increased attention to the development and support of the WPI. The aim of the paper is to evaluate the level and development of competitiveness of WPI in the Czech Republic in subsectoral structure for a period of ten years through the establishment of indicators based on foreign trade data of industry using mathematical and statistical methods. To reach the goal we set up a system of indicators measuring sectoral competitiveness. Achieved results in indicators have shown that, despite the WPI creates active foreign trade balance and contributes to surplus balance of country, it achieves low value of indicator revealed comparative advantage (RCA) with a negative, decreasing trend, thus industry gradually loses its competitive ability. Analysis was also found, that the reason for low competitive ability of WPI is low specialisation of country in the commodity group, which was confirmed by statistical method of correlation analysis.

Oil is the main source of energy for the development of human activities, since it represents 40% of the total energy consumed. The objective of this study was to analyze the oil and gasoline market in Mexico and the factors that determine them. The hypothesis was that the supply of oil is highly price inelastic and that the demand for gasoline is due to a great extent to the number of vehicles in circulation. The applied model was a simultaneous equation econometric one fed with statistical series of data from 1995 to 2015 and estimated with the method of two stage least squares (MC2E). The supply of crude oil in Mexico is highly inelastic (0.0005) to the ratio of international price and the barrel price of crude oil in the country and its effects are both inelastic and negative for the extraction cost (-0.17) and the proven reserves in the country (-0.04). The applied model was a simultaneous equation econometric one fed with statistical series of data from 1995 to 2015 and estimated with the method of two stage least squares (MC2E). The supply of crude oil in Mexico is highly inelastic (0.0005) to the ratio of international price and the barrel price of crude oil in the country and its effects are both inelastic and negative for the extraction cost (-0.17) and the proven reserves in the country (-0.04). The demand for national gasoline is inelastic to its own price (-0.67) and the number of vehicles in Mexico (0.71). The international price of crude oil is transmitted inelastically (0.87) to the domestic barrel price of crude oil. Gasoline foreign trade balance in Mexico (imports minus exports) can be reduced with the amount of oil produced internationally and with the supply of crude oil in Mexico. [ABSTRACT FROM AUTHOR]

Using time series such as GDP per capita, solid minerals output, foreign trade balance, domestic interest rate, inflation, and gross domestic savings, for the period 1960-2015. the Linear Growth Regression model adopted for this study indicates that solid minerals positively impact on sustainable growth and is statistically significant. The study also found that solid mineral is highly significant but negatively related with foreign exchange due largely to illegal migration of mineral commodities across the borders of the country. In view of this, there is need for conscious inter-agency collaboration to track the volume of mineral resources illegally escaping the shores of the country without being accounted for. Besides, there should be more attention on developing the solid mineral sector to help insulate the economy from the vagaries of the present economic woes given the rising demand in solid mineral resources globally. [ABSTRACT FROM AUTHOR]

This paper analyzes a hot topic: the influence of an undervalued currency on macroeconomic variables - primarily on the economic growth and trade balance of a country, but also on employment, foreign exchange reserves, competition, and living standards. It also reviews and explains the consequences of yuan undervaluation, points out the need for its appreciation, and states the negative effects that stem from this measure. Special attention is given to the problematic bilateral relations between China and the USA and the reasons why Americans are worried about the exchange rate policy that China implements. Although yuan appreciation would decrease the American foreign trade deficit, it also raises the question of further financing of the American deficit. There are also other problems that the possible appreciation would cause for the American economy, due to the effect of J-curve, passthrough, larger costs of input imported from China, etc. Therefore, Chinese foreign exchange policy is an important subject, but it is not the solution to the problems of the global economy - which have deeper roots than that. However, there is no excuse for China implementing unfair exchange rate policies, or replacing such policies with controversial protectionist policies (as some authors have suggested).

“Döviz kuru” ulusal paralar ile yabancı paralar arasındaki değişim oranı veya bir ülke parasının diğer ülke parası cinsinden fiyatı olarak tanımlanabilir. Bu değişim oranı veya fiyat sadece uluslararası ekonomik ilişkiler ve dış denge açısından değil, yurtiçi ekonomik faaliyetleri de etkileyen en önemli göstergelerden birisi olduğundan hayati bir önem taşımaktadır. Bu nedenle döviz kurlarındaki değişmeler ekonomik faaliyetlerin seyrini etkilemekte, döviz kuru değişikliklerindeki istikrar ise ekonomik istikrara olumlu yönde katkı yapmaktadır. Döviz kuru dalgalanmalarının (volatily) uluslararası ticaret hacmi üzerindeki etkileri, hem ampirik hem de teorik alanda bir çok çalışmaya konu olmuştur. Ancak döviz kurları ve dış ticaret dengesi arasındaki uzun dönem ilişkinin varlığı ve yönü hala tartışma konusudur. Bu çalışmada, 1996: I–2006: 12 dönemi Türkiye açısından döviz kurları ile dış ticaret dengesi arasında uzun dönemli ilişkinin varlığı sınır testi yaklaşımı ile incelenecektir. Önce değişkenlere aralarında uzun dönemli ve istikrarlı bir ilişkinin varlığını belirlemek için serilerin bireysel durağanlıkları test edilmiş ve daha sonra eş bütünleşme (cointegration) analizi yapılmıştır. Seriler Eviews 5,1 programında test edilmiştir. Çalışmanın sonucunda elde edilen bulgular reel döviz kuru ile ihracat ve ithalat fiyatları arasında uzun dönemli bir ilişkinin varlığını reddetmekte ve kur ayarlamalarının dış ticaret üzerinde etkili olmadığını göstermektedir.

From circa 1980 onwards following globalization, there has been structural changes in national economies across the world. Thereafter, countries have begun to adopt outward-oriented industrialization and liberalization policies. Turkey has also been affected by contemporary developments and started to open up to foreign markets. Import substitution policies were abandoned and import quotas have been removed over time. A flexible exchange rate policy has been introduced. An industrialization policy based on openness and export has been adopted subsequent to 1980, which rendered foreign trade ever more significant for Turkish economy. Most studies in the literature-both national and international- on foreign trade emphasize foreign trade balance and changes in real exchange rate. In this study, the nexus between real exchange rate, export price index and import price index are investigated via structural break analysis through quarterly data over the period 1990.Q1- 2016.Q2. Firstly, unit root test has been conducted, and the series are stationary after the first differences. Later, Maki Cointegration Analysis has been conducted and a long term cointegration has not been confirmed among the series. The causal relationships among variables were examined through Toda Yamamoto causality analysis. As a result, the evidence indicates the existence unidirectional causality from import price index and export price index to real exchange rates. Additionally, the evidence indicates undirectional causality from import price index to export price index. [ABSTRACT FROM AUTHOR]

While The variations in the real exchange rates of a country impacts that country's foreign trade, any variations in the import and expoit. as fundamental components of foreign trade, also influence the exchange rate. Because import goods will get relatively more expensive and expoit goods will get relatively cheap when the real exchange rate rises, it is expected to have a positive reflection on foreign trade balance. Otherwise the country would experience a foreign trade deficit. Foreign trade deficit is a problem that developing countries frequently face. The exchange rate policy followed becomes prominent in the elimination of such problem. The relationship between the real exchange rate and foreign trade balance has been made the subject for various studies by economists, hi this study, the relationship between Turkey's real exchange rate and its foreign trade balance was investigated. For the determination of the magnitude of the relationship. ARDL testing was conducted in the light of monthly data belonging to the period of 2000:1-2015:12. According to the analysis results, it was observed that there is cointegration relationship between real exchange rate and foreign trade balance. For the presence of cointegration points out to at least one causality relationship. Toda-Yamamoto causality testing was conducted and a unilateral causality was defined from real exchange rate towards foreign trade balance. [ABSTRACT FROM AUTHOR]

Copyright of Itobiad: Journal of the Human & Social Science Researches / İnsan ve Toplum Bilimleri Araştırmaları Dergisi is the property of Itobiad: Journal of the Human & Social Science Researches and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Economic potential of the country depends on its development level. This, in its turn, depends not only on the expansion of inter-country, inter-sectoral relations, but also on the extent to which the sectors, including construction sector of the country are represented on the world market. The point is that the construction sector in the world has significantly improved its development level. The new methods and forms in organization of construction are emerged especially in recent years. New aspects of construction technologies are discovered. In developed countries, the automation and computerization of construction production processes is no longer innovation. This once again proves that no economy and its sectors, including the construction sector can develop not only in rapid temps, but even normally in isolation from the world economy. This is an objective necessity and necessity undoubtedly leads to establishment and extension of international economic relations. [ABSTRACT FROM AUTHOR]

The production of wood-based furniture is the final stage in the wood processing chain. Foreign trade in furniture indicates the success of the sector and its competitiveness on international markets. The aim of this paper is to evaluate the trade competitiveness, and its trend, in the furniture manufacturing industry in both the Czech Republic and the Slovak Republic for a period of ten years, through the implementation of indicators based on industry foreign trade data and using mathematical and statistical methods. A system of indicators was set up and the hypothesis: "In the furniture industry the competitive potential is used insufficiently" was proposed. The results achieved confirmed the hypothesis, however, despite the furniture industry showing an active foreign trade balance, it contributed little to the country's trade balance surplus and low values of the indicators of Revealed Comparative Advantage (RCA) were achieved. Therefore, the industry gradually loses its competitive ability. [ABSTRACT FROM AUTHOR]

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The paper discusses international cheese market, highlighting the changes in international trade and mentioning the major exporters and importers. The average world export of cheese in the period under research was 5.7 million tonnes with the tendency to increase to up to 4.6% per year. In terms of country analysis, Germany is the most significant cheese exporter in the world with the average export of 1 million tonnes, which represents 18.6% of total world export. Other great exporters are the Netherlands, France, New Zealand and Italy. They have modern production technology and tradition which resulted in a large range of high quality products. The dynamics of world import are increasing more than in the case of export (rate of 4.9%). With 625,000 tonnes and participation of 12%, Germany is also the world's main importer. Major importers are also Italy, Great Britain, Russia and the Netherlands, which constitute more than 40% of world cheese import. [ABSTRACT FROM AUTHOR]