A Dutch disease approach into the premature deindustrialization ; Erken sanayisizleşmeye Hollanda hastalığı yaklaşımı

Thesis(Ph.D.) -- Istanbul Technical University, Graduate School, 2022 ; We explore the main causes and consequences of the premature deindustrialization phenomena. We argue that local currency overvaluations mainly associated with a surge in capital inflows into the emerging market economies following the deregulation of their capital accounts severely hurt the output share of manufacturing industry. First, we empirically establish a causal link from capital flows to local overvaluations. According to the two-way error component model which controls for the full set of country and time fixed e... Mehr ...