LABOUR PRODUCTIVITY ANALYSIS OF MANUFACTURING SECTOR IN TURKEY AGAINST EU-Reference-Cited by-同舟云学术

LABOUR PRODUCTIVITY ANALYSIS OF MANUFACTURING SECTOR IN TURKEY AGAINST EU

Published:2023-05-23 Issue:2 Volume:24 Page:245-273
ISSN:1611-1699
Container-title:Journal of Business Economics and Management
language:
Short-container-title:

Author:

Balkan Dursun¹^ORCID,Akyuz Goknur Arzu²^ORCID

Affiliation:

1. Industrial Engineering Department, Faculty of Engineering, University of Turkish Aeronautical Association, Ankara, Turkey

2. Logistics Management Department, Faculty of Business Administration, University of Turkish Aeronautical Association, Ankara, Turkey

Abstract

This study offers an in-depth analysis of labour productivity of manufacturing sector in Turkey and provides a comparison with EU27 and EA19 countries utilizing Eurostat time series data of 63 quarters covering 2005/first quarter-2020/third quarter time interval. Productivity trends are identified and interpreted by relating them with the key macroeconomic events and factors. Multiple linear and non-linear regression equations, and ARIMA model with different parameters are applied to the time series data considering the periods with and without covid effect. Future projections are made for the periods 2020–2023 for Turkey manufacturing sector based on the best fitting regression and ARIMA solutions and they are compared. Findings revealed that extreme covid conditions of even two quarters of data have significant impact on the forecasted values for Turkey, EU27 and EA19 countries. ARIMA analysis with 12 different parameter settings provided accurate results, supported by Thiel’s inequality coefficients and standard error measures. Analysis has shown consistent patterns between EA19 and EU27 countries. ARIMA results represent better compatibility with the regression results for Turkey. Study is valuable by providing comprehensive and comparative analysis, revealing future forecasts and covid effect and degree of recovery from the pandemic.

Publisher

Vilnius Gediminas Technical University

Subject

Economics and Econometrics,Business, Management and Accounting (miscellaneous)

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