THE EFFECTS OF CUMHUR？YET GOLD ON THE ECONOMIC GROWTH OF TURKEY : VAR ANALYSIS APPROACH

In recent years, economic growth is one of the most important issues in Turkey. There are many factors that affect economic growth positively and negatively. Main factors are real wage increases, immigrants, falling oil prices, policy, tourism, growth-oriented policies and capital inflows. This study based on data of Turkey’ s economy between 2000 and 2017 years, Vector AutoRegressive Model (VAR) analysis is conducted to determine the existence of the relationship between economic growth and cumhuriyet gold. In the study, the relationship between economic growth and cumhuriyet gold is tested, the direction and the size of the relationship is analyzed by Vector AutoRegressive Model (VAR). Initially, unit root test is applied to prevent series from non-stationarity. Then, respectively predictions are made for 10 periods by using impulse-response analysis and variance decomposition. As a result, there is a directional from the cumhuriyet gold to economic growth