The meaning of net errors and omission account and its relation with current accounts: An econometric application on Turkey

The meaning of net errors and omission account and its relation with current accounts: An econometric application on Turkey The existence reason of the net errors and omission account known as balance of payment, yet has not been dealt in scientific studies in time, scope and measurement errors. The purpose of the study is to define the net error and omission account inclined to increase after 2001 crisis and attracted attention and to define the level of the relation between foreign trade account (export, suitcase trade and tourism income) and balance of payments. Within this scope, In 2002:1 and 2010: 5 period in Turkish economy using export, suitcase trade and tourism income and monthly data on net error omission account in VAR model analysis, it has been determined that tourism income has been the most important factor affecting net error omission account.