The Impact of OECD Countries’ Macroeconomic Factors on Turkey’s Foreign Trade

Abstract

The purpose of this study is to investigate the makroeconomic effects of OECD countries, having a major economic share in the regional communities, in the scope of complex economic structure, and accordingly, to determine the effects of those on Turkey's exports and imports. For this purpose, Turkey’s bilateral export and import volumes with OECD countries for the period of 1996 to 2014 were modelled by using these countries’ macroeconomic time series variables and panel data sets. It was revealed at the end of the study that the most determinant macroeconomic factors concerning the increase in Turkey’s import is the increase in per capita GNP in these countries. This variable is seen to be followed by these countries’ urban population, export indices and the export increases of Turkey for these countries respectively.