| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13352 |
| DP13352 Economic Policy Uncertainty in Turkey | |
| Antonio Spilimbergo | |
| 发表日期 | 2018-12-02 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | Uncertainty over economic policy plays a key role in economic outcomes. But evidence and quantification for emerging markets are elusive because of measurement and reverse causality issues. In this paper, we construct a news-based economic policy uncertainty (EPU) index for Turkey and assess how it affects Turkish firms. To disentangle the issues of endogeneity and reverse causality, we use a difference-in-differences approach. In sectors with large irreversible investment EPU has a greater effect on growth, investment, and leverage. The results are robust to different definitions of investment irreversibility, lag structure, and selection of sectors. |
| 主题 | Development Economics ; Macroeconomics and Growth ; Public Economics |
| 关键词 | Policy uncertainty Economic uncertainty Turkey Firm-level Sector-level Investment decisions Employment growth Leverage strategies Diff-in-diff estimation |
| URL | https://cepr.org/publications/dp13352 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542163 |
| 推荐引用方式 GB/T 7714 | Antonio Spilimbergo. DP13352 Economic Policy Uncertainty in Turkey. 2018. |
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