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Abstract

The aim of this study is to determine the effects of changes in real effective exchange rates on the Turkey’s processed and unprocessed agricultural product exports to the EU. Despite that many studies have been carried out on this subject, this study focuses on the processed and unprocessed agricultural products and enables us to compare the effects of real effective exchange rates on these agricultural product classes. In this study, Johansen Cointegration Analysis was used for the relation between real effective exchange rates and processed agricultural products, and the Bounds test was utilized for the relationship with unprocessed agricultural products. As a result of the empirical results, at the significance level of 5%, the maximum eigen values and trace values, which were calculated using Johansen Cointegration Analysis regarding the relationship of real effective exchange rate and the processed agricultural products, were found to be lower than the threshold values. In other words, no cointegration vector was found. According to the results of bounds test applied for the analysis of model establish for unprocessed agricultural products, no interpretation was made because the F statistics for the cointegration relationship between real effective exchange rates and unprocessed agricultural products was between the upper and lower limits.

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