Sustainability of External Debts By Non-Linear and Fourier-Based Unit Root Test: Empirical Evidence From MINT Countries
Chapter from the book:
Kırcı Çevik,
N.
(ed.)
2023.
Research on Social Sciences- I.
Synopsis
The study aims to investigate whether the external debts of Mexico, Indonesia, Nigeria, and Turkey (MINT) countries are sustainable. For this purpose, we test the data for the years 1970-2021 for four different ratios representing external debts employing ADF(1979), RALS ADF (2014), Kruse (2011), Fourier ADF (2012), Fourier KSS (2012), Flexible Fourier (2012), Omay (2015) and Güriş (2019) unit root tests. According to the results of the analysis, it is determined that the total external debt and short-term external debt stocks are not sustainable in all countries. However, it is seen that the long-term external debt stocks of Turkey and Nigeria and the share of external debt stock in total reserves are sustainable. Especially Fourier KSS (2012) unit root test results show that the share of external debt stock in total reserves is sustainable for all countries. The Guris (2019) unit root test also produces a similar result for the same series, except for Indonesia.
Keywords:
How to cite this book
License
This work is licensed under a Creative Commons Attribution 4.0 International License.
Published
DOI
Categories
Copyright (c) 2023 Gökhan Oruç Önalan- Muhammed Emin Durmuş- Rıdvan Demir- Tuğkan Arıcı- Nagihan Aktaş- Gökhan Özer- Burak Karababa- Ayşe Arı- Nazife Şahin Macit- Ali Çelik- Ahmet Küçük- Emine Beyza Satoğlu- Hasan Alpago- Kemalettin Kaya- Nigar Çağla Mutlucan; Nüket Kırcı Çevik