Gold is a commodity that has been used to protect the wealth of not only people but also organizations and states from past to present. For this reason, countries prefer to keep some of their reserves as gold through their central banks.
At the financial macroeconomic level, the primary goal of countries is to sustain a healthy economic growth. However, when the economies of developed countries are examined, especially when the economic growth rate of the G8 countries, which are called the strongest countries class, is examined, it is seen that the public debt ratio is very high, which increases the risk levels of the countries. Therefore, it is expected that the gold reserve demands of these countries will be in a causal relationship with international gold prices. In this study, the causality relationship between the public debt stock of countries, international gold prices and gold reserve of countries is investigated based on this question.
The country sample is based on the quarter between 2008 and 2020 of the G8 country group. The analysis method has been utilized by econometric methods and the relationship between variables has been examined with panel granger causality analysis.
As a result, a unidirectional causality relationship has been found between the debt stock of countries and international gold prices, and between gold reservoirs and debt stock.
اسم العمل (dc.title) | International gold prices, gold reserves of central banks and debt stocks relationship: Analysis among G8 countries |
(dc.creator.author) | Canözkan, Ergün |
(dc.creator.department) | Yeditepe University Graduate School of Social Sciences |
(dc.creator.department) | Yeditepe University Graduate School of Social Sciences Master’s Program in Arts and Culture Management |
تاريخ النشر (dc.date.issued) | 2023 |
(dc.type) | preprint |
(dc.format) | application/pdf |
(dc.subject) | Gold reserves of central banks |
(dc.subject) | international gold prices |
(dc.subject) | Panel granger causality relationship |
(dc.subject) | Public debt stock |
(dc.subject) | Merkez bankalarının altın rezervleri |
(dc.subject) | Uluslararası altın fiyatları |
(dc.subject) | Panel granger nedensellik ilişkisi |
(dc.subject) | Kamu borç stoku |
Yayıncı (dc.publisher) | Yeditepe University Academic and Open Access Information System |
اللغة (dc.language.iso) | eng |
(dc.description.abstract) | Gold is a commodity that has been used to protect the wealth of not only people but also organizations and states from past to present. For this reason, countries prefer to keep some of their reserves as gold through their central banks. At the financial macroeconomic level, the primary goal of countries is to sustain a healthy economic growth. However, when the economies of developed countries are examined, especially when the economic growth rate of the G8 countries, which are called the strongest countries class, is examined, it is seen that the public debt ratio is very high, which increases the risk levels of the countries. Therefore, it is expected that the gold reserve demands of these countries will be in a causal relationship with international gold prices. In this study, the causality relationship between the public debt stock of countries, international gold prices and gold reserve of countries is investigated based on this question. The country sample is based on the quarter between 2008 and 2020 of the G8 country group. The analysis method has been utilized by econometric methods and the relationship between variables has been examined with panel granger causality analysis. As a result, a unidirectional causality relationship has been found between the debt stock of countries and international gold prices, and between gold reservoirs and debt stock. |
Kayıt Giriş Tarihi (dc.date.accessioned) | 2023-11-13 |
Açık Erişim Tarihi (dc.date.available) | 2023-11-13 |
Haklar (dc.rights) | Yeditepe University Academic and Open Access Information System |
(dc.rights.access) | Open Access |
(dc.rights.holder) | Unless otherwise stated, copyrights belong to Yeditepe University. Usage permissions are specified in the Open Access System, and "InC-NC/1.0" and "by-nc-nd/4.0" are as stated. |
(dc.rights.uri) | http://creativecommons.org/licenses/by-nc-nd/4.0 |
(dc.rights.uri) | https://rightsstatements.org/page/InC-NC/1.0/?language=en |
(dc.description) | Final published version |
(dc.description.note) | Note: This preprint reports new research that has not been certified by peer review and should not be used as established information without consulting multiple experts in the field. |
(dc.description.collectioninformation) | This item is part of the preprint collection made available through Yeditepe University library. For your questions, our contact address is openaccess@yeditepe.edu.tr |
Tek Biçim Adres (dc.identifier.uri) | https://hdl.handle.net/20.500.11831/8061 |