Labour productivity analysis of manufacturing sector in Turkey against EU
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...
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| Format: | Article |
| Language: | English |
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Vilnius Gediminas Technical University
2023-05-01
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| Series: | Journal of Business Economics and Management |
| Subjects: | |
| Online Access: | https://journals.vilniustech.lt/index.php/JBEM/article/view/19059 |
| _version_ | 1797821682812977152 |
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| author | Dursun Balkan Goknur Arzu Akyuz |
| author_facet | Dursun Balkan Goknur Arzu Akyuz |
| author_sort | Dursun Balkan |
| collection | DOAJ |
| description |
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.
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| first_indexed | 2024-03-13T09:57:26Z |
| format | Article |
| id | doaj.art-2e3bb593329e44f5be68b76a9c7bb1d4 |
| institution | Directory Open Access Journal |
| issn | 1611-1699 2029-4433 |
| language | English |
| last_indexed | 2024-03-13T09:57:26Z |
| publishDate | 2023-05-01 |
| publisher | Vilnius Gediminas Technical University |
| record_format | Article |
| series | Journal of Business Economics and Management |
| spelling | doaj.art-2e3bb593329e44f5be68b76a9c7bb1d42023-05-23T15:18:12ZengVilnius Gediminas Technical UniversityJournal of Business Economics and Management1611-16992029-44332023-05-0124210.3846/jbem.2023.19059Labour productivity analysis of manufacturing sector in Turkey against EUDursun Balkan0Goknur Arzu Akyuz1Industrial Engineering Department, Faculty of Engineering, University of Turkish Aeronautical Association, Ankara, TurkeyLogistics Management Department, Faculty of Business Administration, University of Turkish Aeronautical Association, Ankara, Turkey 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. https://journals.vilniustech.lt/index.php/JBEM/article/view/19059labour productivitymanufacturinglinear regressionARIMATurkeyEU |
| spellingShingle | Dursun Balkan Goknur Arzu Akyuz Labour productivity analysis of manufacturing sector in Turkey against EU Journal of Business Economics and Management labour productivity manufacturing linear regression ARIMA Turkey EU |
| title | Labour productivity analysis of manufacturing sector in Turkey against EU |
| title_full | Labour productivity analysis of manufacturing sector in Turkey against EU |
| title_fullStr | Labour productivity analysis of manufacturing sector in Turkey against EU |
| title_full_unstemmed | Labour productivity analysis of manufacturing sector in Turkey against EU |
| title_short | Labour productivity analysis of manufacturing sector in Turkey against EU |
| title_sort | labour productivity analysis of manufacturing sector in turkey against eu |
| topic | labour productivity manufacturing linear regression ARIMA Turkey EU |
| url | https://journals.vilniustech.lt/index.php/JBEM/article/view/19059 |
| work_keys_str_mv | AT dursunbalkan labourproductivityanalysisofmanufacturingsectorinturkeyagainsteu AT goknurarzuakyuz labourproductivityanalysisofmanufacturingsectorinturkeyagainsteu |