THE ROLE OF THE PRIVATE CONSTRUCTION SECTOR FOR DEVELOPMENT: ARDL ANALYSIS OF PRIVATE CONSTRUCTION SECTOR IN TURKEY 1

In this paper, we examine that the impact of GDP and the value of dwelling residential buildings on the number of dwelling units residential buildings with respect to ARDL cointegration analysis. The analysis can be done for the period of 1991Q1-2010Q3. We use 79 observations. Also, this analysis includes CUSUM and CUSUMSQ test which investigate stability of the model. The findings of the model are that in the long-run GDP affect the number of dwelling units residential buildings negatively, on the other hand, the value of dwelling residential buildings affect it positively. In addition to this, in the short-run both GDP and the value of dwelling residential buildings affect positively.