Asymmetric relationship between global and national factors and domestic food prices: evidence from Turkey with novel nonlinear approaches

Financial Innovation

Table 3 Descriptive Statistics

Variables	Food	Uncert	Vix	Oil	Raw	Fertilizer	Temperature	Usd/ try	Interest	Cds
Units	%	Point	Point	USD	Point	Point	Degree	Point	%	Point
Mean	11.120	119.506	19.076	72.850	84.996	96.970	0.795	2.776	16.533	261.824
Minimum	0.577	18.150	9.510	22.740	58.382	42.304	0.267	1.164	8.415	117.809
Maximum	33.225	626.030	59.890	139.830	134.555	256.055	1.331	8.708	34.480	593.625
SD	5.801	89.217	8.517	25.769	14.550	37.833	0.193	1.919	5.353	107.272
CV	52%	75%	45%	35%	17%	39%	24%	69%	32%	41%
JB	125.415	898.191	377.889	12.828	46.522	208.857	4.802	86.308	20.999	60.772
JB Prob	0.000	0.000	0.000	0.002	0.000	0.000	0.091	0.000	0.000	0.000
Observations	210	210	210	210	210	210	210	210	210	210

CV denotes the coefficient of variation; JB denotes Jarque–Bera; Prob. Denotes the probability; SD denotes the standard deviation. The average value of FOOD was 11% with a standard deviation of 5.801. Based on Jarque–Bera test statistics, the variable FOOD does not meet the normality assumption. In addition, none of the variables used in the analysis, except TEMPERATURE, met the assumption of normality. When the coefficient of variation statistics was examined, it was observed that the volatilities of the UNCERT and USD/TRY variables were relatively higher (also higher than 50%) than those of the others. However, the volatilities of RAW and TEMPERATURE were lower than those of the others