| Popis: |
In this study, it is aimed to investigate the interactions of per capita income and consumption per capita of member countries of the Organization of Turkic States with each other and with China, and whether they have spillover effects on each other, based on the BRI framework. To this end, we construct our analysis on a data set that includes GDP per capita and consumption per capita in real terms across 6 countries (including China) covering the period 1990-2019. As the empirical approach, we utilize a time-varying vector autoregressive (TVP-VAR) dynamic connectedness. The following inferences can be drawn from the analysis results: (i) while there is generally a more fluctuating relationship in both consumption and income variables of the countries pre-2010 period, there is a more regular relationship in the following period (ii) when China is included into the regression, improvements are observed at almost all connectedness levels. The contribution of this article is that this is the first study to examine the impact of the BRI initiative on GDP and consumption expenditures in the Turkish States. While previous reports have mostly relied on studies from all BRI countries, this is the first time such a study has focused on a specific group of countries. In addition, the relationship between income and consumption between countries was examined using a unique empirical approach. |
