Is a Regional Agreement among Balkan Countries Applicable? A Time Series Analysis

Is a Regional Agreement among Balkan Countries Applicable? A Time Series Analysis

KOCASLAN, Gelengul
OZCELEBI, Oguzhan
MUGAN ERTUGRUL, Suna

Statistics of Central Bank of Turkey and World Bank provide evidence for the fact that the volume of trade of Turkey with Bulgaria, Romania and Greece may have a positive effect on Turkey’s Economy even under the circumstances of the recent financial crises. Thus, it is important to analyze the impacts of foreign trade volume of Turkey with Bulgaria, Romania and Greece on the real economic activity in Turkey. In this respect, we used time series techniques to make inferences about the possible consequences of regional economic integration. Empirical findings reveal that Turkey may benefit from a regional economic integration between these Balkan Countries. Keywords: Regional Economic Integrations, Balkan Countries, Causality Analysis. JEL Codes: F10, F14, F15.

Article
PeerReviewed

ISSN 2303-4564

International Burch University

2013-05-10

1540