The seminar titled “Dynamics of inflation in emerging markets: Is it local or global?” by Dr. Ahmet Ekrem KAYA from Sabahattin Zaim University, Istanbul, was held on December 11, 2024 at 12:00 in the Meeting Hall of our university, North Campus, Block C, 7th Floor. The relevant seminar was attended by the Dean of the Faculty of Political Sciences and Head of the Department of Economics, Prof. Dr. Faruk BAL, many faculty members from our department and our students.
KAYA began his presentation by stating that in his study examining the inflation dynamics for the period 1980-2022, he aimed to reveal the local and global determinants of inflation by focusing on emerging markets such as Brazil, China, India, Indonesia, South Africa and Türkiye. KAYA, who used GVAR and Time-Varying Granger Causality Test (TVGC) methods in his study, stated that the effect of local dynamics was stronger compared to global factors and stated that this situation showed that the causes of inflation depended largely on domestic economic and political conditions. KAYA also emphasized that globalization and economic/commercial integration could become factors that could lead to an increase in inflation in the face of supply shocks such as the pandemic. In his presentation, KAYA drew attention to the decisive role of global supply shocks and supply chain disruptions on inflation, especially in the post-pandemic period.
KAYA concluded his presentation by emphasizing the significant effect of local factors on inflation and suggesting that countries should focus more on their domestic policies and consider the possible side effects of global integration. He then answered the participants' questions.
