Abstract
In this study, the impact of military operations on the exchange rate is estimated. In particular, this study focuses on military operations in Turkey and its impact on the Turkish lira against the pound sterling. Therefore, the aim of the present study is to investigate the impact of Turkish military operations abroad on the fall of the lira. The purpose of this study is analytical-descriptive and theoretical studies. The results of the present study indicate that Turkey has direct, proxy or tension military operations in Libya, Syria, Iraq, Nagorno-Karabakh and Greek waters, which have a negative effect on the country's relations with the European Union and the United States, leading to a fall in value. The Turkish lira.
References
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Shahzad SJ, Zakaria M, Rehman MU, Ahmed T, Fida BA. Relationship between FDI, terrorism and economic growth in Pakistan: Pre and post 9/11 analysis. Social Indicators Research. 2016 May 1;127(1):179-94.
Eldor R, Melnick R. Financial markets and terrorism. European Journal of Political Economy. 2004 Jun 1;20(2):367-86.
Pesaran MH, Shin Y, Smith RJ. Bounds testing approaches to the analysis of level relationships. Journal of applied econometrics. 2001 May;16(3):289-326.
Abadie A, Gardeazabal J. The economic costs of conflict: A case study of the Basque Country. American economic review. 2003 Mar;93(1):113-32.
Enders W, Sandler T. Terrorism and foreign direct investment in Spain and Greece. Kyklos. 1996 Aug;49(3):331-52.
Chen AH, Siems TF. The effects of terrorism on global capital markets. European journal of political economy. 2004 Jun 1;20(2):349-66.
Pshisva R, Suarez GA. 'Captive markets': the impact of kidnappings on corporate investment in Colombia. 2017
Sakarya S, Soyer N. Cultural differences in online shopping behavior: Turkey and the United Kingdom. " International Journal of Electronic Commerce Studies". 2014 May 22;4(2):213-38.
Meese RA, Rogoff K. Empirical exchange rate models of the seventies: Do they fit out of sample?. Journal of international economics. 1983 Feb 1;14(1-2):3-24.
Mussa M. Macroeconomic interdependence and the exchange rate regime. International economic policy: Theory and evidence. 1979:160-99.
Meese RA, Rose AK. An empirical assessment of non-linearities in models of exchange rate determination. The Review of Economic Studies. 1991 May 1;58(3):603-19.
Engel C. Can the Markov switching model forecast exchange rates?. Journal of international economics. 1994 Feb 1;36(1-2):151-65.
Taylor MP. The economics of exchange rates. Journal of Economic literature. 1995 Mar 1;33(1):13-47.
Bacchetta P, Van Wincoop E. Can information heterogeneity explain the exchange rate determination puzzle?. American Economic Review. 2006 Jun;96(3):552-76.
Landes WM. An economic study of US aircraft hijacking, 1961-1976. the Journal of Law and Economics. 1978 Apr 1;21(1):1-31.
Ehrlich I, Becker GS. Market insurance, self-insurance, and self-protection. Journal of political Economy. 1972 Jul 1;80(4):623-48.
Cauley J, Im EI. Intervention policy analysis of skyjackings and other terrorist incidents. The American Economic Review. 1988 May 1;78(2):27-31.
Enders W, Sandler T, Cauley J. Assessing the impact of terrorist‐thwarting policies: An intervention time series approach. Defence and Peace Economics. 1990 Dec 1;2(1):1-8.
Shahzad SJ, Zakaria M, Rehman MU, Ahmed T, Fida BA. Relationship between FDI, terrorism and economic growth in Pakistan: Pre and post 9/11 analysis. Social Indicators Research. 2016 May 1;127(1):179-94.
Eldor R, Melnick R. Financial markets and terrorism. European Journal of Political Economy. 2004 Jun 1;20(2):367-86.
Pesaran MH, Shin Y, Smith RJ. Bounds testing approaches to the analysis of level relationships. Journal of applied econometrics. 2001 May;16(3):289-326.
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