THE EXAMINATION OF THE IMPACT OF MACROECONOMIC INDICATORS ON THE CONSTRUCTION SECTOR COSTS BY THE GUIDANCE OF SYMMETRIC CAUSALITY ANALYSIS
Keywords:
Cost, of, Construction, Financing, Expenses, Symmetric, Causality, Test, Exchange, Rate, and, Invest, Rate.Abstract
Construction sector, forming one of the basic dynamics of the emerging economies, has the feature of becoming a locomotive sector for the Turkish economy as well. However; in recent years, the recorded increases in the employement, inflastion rate, exchange rate and interest rate which are relatively important macroeconomic indicators of Turkish economy creates a negative impact on sectors’ production costs. For this reason; in this study, it is aimed to determine the impact of the employement, the inflastion rate, the exchange rate and the interest rate variables on the costs of the construction industry. In this respect; the causality effect of the mentioned macroeconomic indicators on the cost data of the construction industry firms located in Turkey for the period between 2005-2015 has been tested by the approach of symmethric causality test developed by R.S. Hacker and Hatemi J (2010) and based on the Bootstrap simulation technique.
