bluuebunny/crossref_metadata_2025 huggingface dataset:
Health System Reform in Kyrgyzstan: Problems and Prospects
Authors: Japarova Damira
Published: December 2019

Today all over the world costs of medical services are growing and alternative ways of effective financing of health care are being researched.
During the reforms the Kyrgyz Republic introduced a system of compulsory medical insurance, the institution of family medicine and a "single payer" system. Methods of payment for hospital services flush to an artificial increase in the number of hospitalizations and unnecessary assignment of diagnostic and therapeutic procedures.
The main brake of health care reform is underfunding of sector. Improving health care is possible by limiting the free medical care. The replacement of free care by paid services occurs spontaneously, there are abuses and the shadow economy in health care.
The Compulsory medical insurance doesn’t have such terms as an accident, insurance risk, and the current model in Kyrgyzstan is not a real model of insurance and serves as a kind of state-funding health care. The most part of the population in rural areas is not involved in the payment of health insurance due to unemployment.
Patients pay a fee in addition to medication, and also carry out informal payments to doctors, that is, patient with co-payments have to repeatedly pay for the same medical service without a guarantee of a cure.
Taking into account the experience of other countries, the imposition of patient payment for their own care is more just to bringing the patient for his treatment.
Current Problems in Labor Quality in Kyrgyzstan
Authors: Aytuganova Cipar
Published: December 2019

Formation or implementation of high-quality labor is an actual problem of the world economy and always considered in the theory and practice. Labor quality is the realization of increased productivity and performance of the work and responsibilities, also it is known as the main factor of economic growth in economics. Since 1991, the importance of labor quality for development of national economy and macroeconomic stability in Kyrgyzstan is growing and becoming actual in globalization and integration process, financial, informational, scientific and technical cooperation, is requiring researching. This problem studied by academics O. Bogomolov, L. Kudryavtsev, G.Kolodko, T.Koychuev and others. In economics labor defines as a set of three groups of labor skills and abilities of individuals. This group of skills combines the biological, economic and social side of man. Development of labor quality is considered at three levels: low, medium and high quality. In all states, there are complex of integrated structures that seek efficiency in own activity. In the transition period for Kyrgyzstan it is necessary to solve social problems, improve living standards. It’s necessary to abide execution of laws by from the President to the citizen, establish the subordination of society to laws, improve moral of public servants, gain people's trust in government, form up the economic culture, to eliminate the shadow economy and corruption. Economic culture must become an integral part of national ideology.
Macroeconomic Assessment of post-Soviet Development in Tajikistan
Authors: Umarov Khodjamahmad
Published: December 2019

Official statistic data show a very optimistic picture of the post-Soviet economic growth in Tajikistan. In fact, over the period 1999 to 2008 these rates are overestimated. It is well known that between growth rate of gross savings there is a close correlation, that proves not only the world's economic history, but also by current trends and proportions of macro-economic relations. Base on well-founded arguments, the author proves the need for significant adjustments in economic growth and a number of indicators of socio-economic development. Recommendations will summarize the issues related with mobilizing domestic savings, gross savings closer regulations and gross savings on the way stop capital flight to offshore zones.
Improvement of Financial and Credit Regulation Mechanisms in Agroindustrial Complex Development
Authors: Dzhailov Dzhumabek , Sariev Farkhad , Kupsuralieva Elmira
Published: December 2019

Agroindustrial complex is a strategically important sector of the national economy. However, its unsustainable development within recent years strongly reduced its share in GDP of the country and aggravated the problems of food security. The factors of the sector situation aggravation are low investment attractiveness, poor development of financial and credit sphere. It is necessary to increase considerably not only volumes of assigned financial and credit resources but also to change significantly their assignment (financial support of priority sectors of agro industrial complex, subsidy assistance of farmers’ expenses and percents on credits etc.)
Pressing Problems Related to Development of Pension Schemes in Ukraine and Kazakhstan
Authors: Rad Nataliya
Published: December 2019

The article deals with some of the aspects related to development of the present-day conception of pension schemes in Ukraine and Kazakhstan in the context of solving social problems. Demographic and economic conditions for functioning of pension mechanisms of the countries under consideration are analyzed. Comparison of their parameters shows the existence of conceptual characteristics and similar features. Approaches to formation of insurance fees as the background for pension schemes financial balance have been analyzed. Attention is paid to the dependence of financial stability of pension schemes on the level of shadowing of employment relations and wages. Outstanding characteristics for formation of pension assets of insured persons are described. Mutual problems for development of basic pension security are defined. We focus at the insufficient level of development of the non-state pension provision in comparison with the present-day public needs. In the course of our investigations we used the whole complex of general scientific and economic-statistical methods: tabulation procedure, data processing and comparison study. Speculative generalizations and conclusions are made based on the abstract-logical method. We make our proposals to improve the conception of the present-day pension scheme (system) and environment for its functioning for the purposes of further social and economic national development.
Topical Problems of Small Business Development in Ukraine under Conditions of Improved Tax Service
Authors: Orlova Valentina
Published: December 2019

Small business as a form of business activity is phenomenon of present-day market economy. This is an independent sector of economy that makes goods, services, provides revenue receipts to budgets of all levels. The problem of business development is a pressing challenge for Ukraine as for all countries with market economy. In conditions of implementing Tax Code of Ukraine the topicality of small business development increases, because for stable pumping up of national and local budgets creation of conceptually new system of tax administration (taxes paid by small business) is needed that would provide gradual transition from fiscal pressure to simplified administration procedures using modern methods of information analysis. The article reviews dynamics of budget receipts. Factors reducing fiscal on small business are studied and measures for improvement of tax service for small economic entities - good faith taxpayers are proposed.
The Effects of the Kazakhstan-Russia-Belarus Customs Union on Turkey’s Exports and on Turkish Investors in Kazakhstan
Authors: Barak Osman , Doğanay Murat
Published: December 2019

The customs union is a model of economic integration which is composed of free trade area among the participant countries with a common external tariff. The participant countries generally set up common external trade policy. Main establishing purposes of customs union are increasing economic efficiency, improving the global competitiveness and establishing closer political and cultural ties between the member countries. This paper analyses the concept and effects of customs union, the agreement of Bel EurAsEC Customs Union and how this agreements effects Turkish investors in Kazakhstan and export of Turkey. In this contex, a survey is implemented to Turkish companies executives, according to the survey results, it is trying to reveal whether the Bel EurAsEC Customs Union have any effects on Turkey export. Also, in this paper, the effects of Bel EurAsEC Customs Union on Turkish investors which operates in Kazakhstan, investment attitude, behavior and decisions are being explored.
Health Economics: Problems and Prospects in Kyrgyzstan
Authors: Japarova Damira
Published: December 2019

Given paper studied the health care system in Kyrgyzstan during the transition period to the market . The market of medical services in the Kyrgyz Republic is in the state of early childhood. It was studied the sources and principles of allocation of financial resources in health care system. The main problems are shown as a lack of financial resources and inefficient use of them, a lack of motivation of quality health care. Therefore related proposals to improve state regulation of health care in Kyrgyzstan were given.
The Role of Marketing in Sustainable Development
Authors: Önce Asım Günal , Marangoz Mehmet
Published: December 2019

At the present time, with rapid increase of population and besides increase of consumption, misusage of resources, environmental pollution and climate changes, a lot of environmental problems are occurring and will continue to occur. In this respect, the businesses and especially the marketing function have important responsibilities on prevention of those factors which affect the sustainable development and consequently on providing sustainable development. Some of those businesses aim to increase their competitive power by using recyclable materials, reusing of packages and by using energy saving applications at production processes whereas the others aims to use the anxiety of the consumer segment, who are sensitive to environment and people’s health as a tool of differentiation. As a result, in spite of the increase on demand of environmentally friendly products, as from 1990’s neither at the number of businesses who apply strategies, nor the number of consumers who are interested on environmentally friendly products reached to expected level. However, the main problem here is not just the existence of businesses that are far from ethical and social responsibility, at the same time, it is based on whether the strategies that the businesses who act with social responsibility conscious are as supporter of sustainable development. The aim of this study is to suggest the marketing strategies and applications which can be applied for understanding how marketing can contribute to sustainable development and explaining its role in the development of sustainability.
The Central Asia and Caucasia Politics of China in the Context of Energy Security
Authors: Azer Özlem Arzu
Published: December 2019

After the dissolution of Soviet Union, the geo-strategical importance of Caucasia, the Central Asia and the Black Sea region increased fastly. This transition period had been difficult while central planned economies had transformed into free market economies and meet capitalism. Geo-strategic importance of the region increased for the West and Russia as well as some countries as China due to the oil and gas resources besides being transit countries of the energy pipelines. The Central Asia, Caucasia and the Black Sea Region had been so important because the region owns rich natural resources and pipelines as well as being a door to Afghanistan and the exit to the Black Sea. During Post Cold-War era, the region became a chess table for imperial countries. While USA and Russia had been playing hegemony game in this region, some other countries as China had been investing silently in important areas. The investments of China in the region are actually so invincible. In this paper, it will be analysed the investments of China in this region and its economically and political interest in Caucasia and the Central Asia.
An Overview of Relations between Turkey and Kazakhstan in Light Of Economic Developments in Central Asia
Authors: Uzun Kocamış Tuğçe , Kuzu Serdar , Aksu Emre
Published: December 2019

Kazakhstan is in a distinctive position among other Central Asian Republics due to its rich economic resources. It has the highest per capita GDP. Turkey is the first country to recognize the independence of Kazakhstan. Kazakhstan is the major strategic partner of Turkey in Central Asia. Due to its active and constructive approach, its importance has been increasing in Turkey’s foreign policy. Turkey, having qualified human resources, technology know-how, and international experience, is capable of supporting Central Asian countries in various areas. When their economy, production structure, export and import demands are compared withTurkey, we may see a great collaboration opportunities to complement each other. Due to the common history, ethnics, and culture, Turkey has become the strategic partner for Kazakhstan. Turkeyis also an important market for Kazakhstan as it has a continously developing industry, increasing consumer expenses, and growing export potential.
Determination of Country of Origin Image with Fuzzy Set Theory
Authors: Haşıloğlu Selçuk Burak
Published: December 2019

As foreign trade has become more spread, the country of production and even the origin of the raw material used in the production has become an important factor. Mentioning the country of origin on the label of the product dates back to World War-I when “Good product sells itself” understanding is dominant. In this study, the image of country of origin was evaluated with fuzzy set theory. Fuzzy sets theory lays foundation for the methods used in the solution of relative and uncertain problems. As image evaluation is a relative issue, these methods were used in our study. The first phase in the study model is data collection. Data collected was used to determine image factors, calculate factor loads (weights) and order alternatives. In the determination of image factors Fuzzy Cognitive Mapping (FCM) method was employed. To calculate factor and alternative weights Fuzzy Analytic Hierarchy Process (AHP) method was used. In the phase of ordering of alternatives which are called product group elements both Fuzzy AHP and TOPSIS (Technique for Order Preference by Similarity to Ideal Solution) method were employed. TOPSIS is based on the main principle of similarity to ideal solution and is employed to solve problem and make decision. In our study FCM, Fuzzy AHP and TOPSIS methods were used in stages, analyses were performed and solutions were developed. In the final part, there are evaluations with regard to which product group will be more effective when which image is minimized.
The Future of Multinational Corporation Investments In Turkey: An Evaluation of Environmental and Natural Sources Investments
Authors: Reyhan Hakan , Mutlu Ahmet
Published: December 2019

It’s well known that receiving foreign investments is one of the main targets of Turkey’s economic policies since 1980’s. As a result of these policies, foreign-capitalized companies have considerable market shares in many sectors from automotive to mining, from food and beverage to petroleum, from agriculture to chemicals, from construction to pharmaceutical products. On the other hand, in last year’s there is a remarkable and growing public reaction to the foreign investments especially investments related to natural resources and environmental areas. Thus, in near future MNC’s which wanted to invest in Turkey would need to take more attention to public’s tendencies then government policies. In this study, main policies concerning MNC investments in Turkey will be evaluated and public’s approaches to foreign investments in environmental and natural resources will be discussed. In this study government perspectives of the foreign investments made by MNC’s and stimulation policies for foreign investments made by MNC’s will be evaluated in terms of sustainable development policies. Then, public’s reactions which raised especially after 2000’s to the foreign investments in environmental and natural resources and potential results of these reactions for future investments will be evaluated. Method of the study, based on literature review, and analysis of statistics and social event. In the study, the sensitivity against environmental and natural resource investments was found to be active in the past. Thus, MNC, for this type of investment, must more focus on changes in Turkey.
Is Natural Resource-Rich Russia Suffering from the Dutch Disease?
Authors: Dülger Fikret , Lopcu Kenan , Burgaç Almıla , Ballı Esra
Published: December 2019

“Dutch Disease” phenomenon is defined as the increase in the price of natural resources, such as oil and natural gas, which causes the appreciation of the real exchange rate and leads to the decline of manufacturing and ultimately to increases in service prices. Since the 1980s there has been a great body of “Dutch Disease” empirical literature, and as a natural resource-rich country Russia is a good case for the exploration of this phenomenon. The Russian economy experienced some difficulties after the collapse of the Soviet Union in the adaptation to a free market economy model. In the process of moving towards a free market economy, Russia failed to diversify its economic structure despite increases in natural resource revenues. In the last decades, while the share of natural resources in export revenues has significantly increased, the share of manufacturing output has decreased. According to the United Nations Development Program Russia report 2009, increases in energy income have resulted in the decline of other sectors of the Russian economy. Furthermore, the report claims that these indicators may trigger a recession in the Russian economy in the future. In fact, in recent years the Russian economy has exhibited some typical symptoms of “Dutch Disease” along with increases in oil prices accompanied by a reduction in the share of manufacturing output and an increase in service prices. Using Gregory Hansen cointegration method, this paper finds that Russia is in fact might be suffering from the “Dutch Disease” in the post Soviet Union-era.
Information and Communication Technology and Sustainable Development
Authors: Akan Yusuf , Sesliokuyucu Osman Seraceddin
Published: December 2019

In today’s world productivity and efficiency issues take center stage more. Sustainable development concept has become more important, especially since the last quarter of 1900s when the fears increased about the scarcity of resources. Sustainable development that is environmentally sensitive and aimed at reducing inequality between generations and increase production outputs has become an issue which should be emphasized by all countries. High environmental costs have begin to increase importance of sustainability. Emerging technologies that called “Green Information and Communication Technologies” present new solution offers for environmental pollution and become an important cornerstone for the sustainability process. Information and communication technologies that is one of the most important issues within sustainable development processes will provide the minimization of uncertainties in production stage by increasing the productivity and efficiency. Information and communication Technologies has the potential to increase quality of all people life without compromizing the ecosystem by using less material and energy, so this technologies provide benefit maximization. In this context the study will be examined the relationship between information and communication technologies and sustainable development. Data which will be used in the paper will consist different variables (e.g. GDP, internet users…) and the results of the paper will compare the countries. Paper will bring out the importance of information and communication technologies for sustainability by the results.
Social Impact of Sustainable Ecotourism: Cases from Turkey
Authors: Sungur Zerrin
Published: December 2019

The concept of sustainability began to dominate tourism debates after the United Nations Conference on the Environment and Development, the Earth Summit in Rio de Janerio in 1992. Ecotourism is the fastest growing sector, with an estimated growth rate of 25 to 30 percent, of one of the largest industries in the world. The motto of Action Program for Sustainable Development was that “Only whatever can be sustained by nature and society in the long term permissible.” The World Conservation Union expanded this definition as follows: “Ecotourism is environmentally responsible travel and visitation to relatively undisturbed natural areas, in order to enjoy and appreciate nature that promotes conservation, has low negative visitor impact, and provides for beneficially active socio-economic involvement of local populations.” There are two major problems with respect to ecotourism: achieving ecologic integrity of the ecotourism resource and, increasing and ensuring consistency of quality of the recreation experience for the ecotourist. Economic, environmental and social impacts involved in ecotourism should be balanced within ethical principles. The first official reference to the concept of ecotourism in Turkey was made in the Eighth Five-Year Development Plan (2001-2005). The aim of this study is to explore social impacts of ecotourism in Turkey. Some projects and surveys related with ecotourism will be considered in order to get better understanding of social impacts of ecotourism on the lives of local people in Turkey.
Contribution of the Agriculture Sector in Sustainable Development in Eurasian Countries: Evaluating Risks and Opportunities
Authors: Gençler Funda , Bircan İsmail
Published: December 2019

If the economic performance of the Eurasian countries are to be evaluated, the significant positive impact of the rich natural resources used in energy pruduction deserve the central attention. However, agriculture sector still has a great influence on economy. According to the statistics; Azerbaijan’s agricultural exports have jumped by almost US$500 million in the last ten years, now totaling to almost half its Gross Domestic Product. Kazakhstan and Uzbekistan contribution to GDP is roughly 27% by agriculture sector. For the rest, similar characteristics can be seen as well. Agriculture sector has a crucial role not only for production but also for the potential labor force that can be transposed to other sectors. For this reason, the policies that are implemented for the rural development contribute to the whole country. Since, increasing the social welfare and promoting the competent labor force for other sectors will lead to a country which is self sufficient and sustainable. The aim of this study is to analyze agriculture sector of Eurasian countries to find out the sector’s contribution to economic development. As a result, tourism and textile sectors to be qualified as focal sectors in the coming years in Eurasian countries and capable to provide essential value added to development are directly related to agriculture. Enhancement of agricultural productivity, development and diversification of market oriented production will be achieved through supporting rural areas. In addition to agricultural support, facilitating access to information sources can be provided by enhancement of dissemination activities.
The Impact of Remittances on Kyrgyzstan Economy
Authors: Akmoldoev Kiyalbek , Budaichieva Aidai
Published: December 2019

Data of the worker’s remittance flow in the period of 2000-2010 were employed to analyze the impact of remittances on macroeconomic indicators of the Kyrgyz Republic. Focus was given to the assessment of remittance effect on economic effectiveness. To study the underlying issue, linear correlation method and economic performance effectiveness index were used. Results showed that great portion of remittances has been directed into consumption rather than to investment. Moreover, remittance spending is channeled into consumption of imported goods, thus raising the trade deficit of a country. Their impact on economic effectiveness of Kyrgyzstan presents that given the low propensity to invest, they finance consumption and cause high consumption ratio with respect to investment ratio, thus leading to reduction of economic effectiveness.
Effects of the Tendency of Alternative Energy Usage of Small and Medium Sized Enterprises on their Productivity: A Research on IMES and TUZLA Industri
Authors: Haykır Hobikoğlu Elif , Hacıoğlu Deniz Müjgan
Published: December 2019

Energy is an effective economic power which can provide people with their basic necessities such as health, education, accommodation and protection. Increasing energy efficiency depends on development of the ability of energy sources with the combination of minimum posible cost, minimum risk and environment friendly facilities. Small and Medium Sized Entrerprises (SME) those can reflect this productivity of environment friendly energy to their production can be the cornerstone of social and economic development which is the determining economic factor in the countries’ social and economic development process. It is obvious that one of the main inputs of economic and social development is energy and providing it by using alternative sources is one of the most important parameters of sustainable development. Intense usage of fossil fuels causes a dependent condition in which SME’s cannot afford their energy demands totally by their own resources. As a result of an awareness research about alternative energy sources that will increase SME’s competitive capacity and sectoral tendency towards green energy sources, it is seen that consciousness of alternative energy and trends towards renewable energy resources are not strong enough. It is also identified that their level of awareness about how much their efficiency might be affected as a result of using new energy resources is rather low. Shortly in the frame of Vision 2023, recognising the main alternative energy resources of Turkey, it aims to identify the effects of tendency of SME’s towards alternative energy resources on their productivity.
Water Flowing Beyond Borders and Water Problems
Authors: Oğuz Ahmet , Güreşçi Pehlivan Gülçin
Published: December 2019

The difficulty of drawing the borders of the Middle East originates from the fact that the region is not a clear geographical unit. This means that it is determined by the political and cultural elements as “The West”, not by the geographical element as the “Western Europe”. The important position of the region becomes clear with the production of petroleum. The petroleum of the Middle East meets a large part of the energy requirements of Europe and Asia, however almost everyone agrees that water began to take the place of petroleum and will be the most important natural resource in the near future at the Middle East. We tried to emphasize the strategic importance of the water in the Middle East, the hydrological characteristics of water flowing beyond borders and the replace of South-Eastern Anatolia Project in the Turkish-Arabic relations, the use and management of water resources, some efforts and search for solutions.
Investment Potentials of the Crimean Peninsula
Authors: Sümer Kutluk Kağan
Published: December 2019

The current population of the Crimea, education, economy, basic demographics, such as the Crimean peninsula after study highlights the sectors at the regions examined. Available in these sectors FDI (foreign direct capital investments) will be examined, Crimean UNDP and the EU funds will put forward their existing investments. How do all these investments could be effective in favor of the Crimean Tatars will be examined. At the end of the study on the possible investments will be aimed a general SWOT analysis in Crimean penisula.
Nonlinear Real Exchange Rate Dynamics and Oil Prices in the Commonwealth of Independent States
Authors: Küçük Nezahat
Published: December 2019

This paper investigates the role of country specific and global factors, particularly oil price, on the real exchange rate (RER) in selected Commonwealth of Independent States (CIS) countries (Azerbaijan, Kazakhstan, Kyrgyzstan, Moldova, Russia, Turkmenistan, Ukraine, and Uzbekistan) over the period from 2000 to 2011. The group of higher income, lower income, oil and gas exporter, and non- oil and gas exporter countries are further analyzed separately to induce homogeneity. The analysis is based on panel smooth transition autoregressive (PSTR) model, which takes into account the nonlinear dynamic adjustment of the real exchange rate towards equilibrium. The estimation results show strong nonlinear dynamic adjustment for the real exchange rate. Upon obtaining strong evidence on nonlinear dynamic behavior, which is modeled using a smooth transition autoregressive model with two regimes, we test the impact of global and country specific drivers on the real exchange rate. As an extension, panel smooth transition error correction model is estimated. Results show that there exists an asymmetric behavior of the real exchange rate when facing an over- or undervaluation of the domestic currency. The evidence also shows that oil price has significant impact for the appreciation of domestic currencies, particularly in oil and gas exporting relatively richer countries, and the CIS countries have become vulnerable to global shocks.
Impact of Decrease in Supply of Land for Domestic use in North Cyprus: Computerized General Equilibrium (CGE) Model Approach
Authors: Giritli Nuru , Uğural Sevin
Published: December 2019

Cyprus Island has been divided into two parts since 1974. In April 2003 crossing the Green Line across the borders became possible and both parts of the Island benefited from this; firstly due to resulted domestic tourism in both sides and secondly from new employment opportunities mainly for Turkish Cypriots in South. Besides that, positive expectations over the Cyprus problem accelerated the expenditures in both sides. In the North, demand for land and new dwellings increased, pushing prices upward. Demand for land and a new property by foreigners is busted in recent years. The UK, Israel, Russia and some other countries started to buy land in the North Cyprus by securing resources to their businessmen especially in the areas of Komi Kepir, Kalogrea, Akanthou, Karpass, Risokarpaso, Yialousa and Livera. Such increase in demand by foreigners decreased the supply of land to domestic use. This has many implications on North Cyprus economy which is very small with limited resources in production. In this study, 4- factor, 13-industry a single country general equilibrium model is used to investigate the changes in income, employment, prices, output and inputs required for production resulted from this supply shock. Results show that, under fixed capital and flexible labor market, 10% reduction in land supply increased the value of land by 108.8%, income increased by 2.04 % and prices of skilled labor and capital increased by 1.028% and 1.020% respectively and due to the reduction of land supply, output decreased by 1.53%.
On the Promotion of Entrepreneurship Micro Credit Applications: An Evaluation for Kyrgyzstan Economy
Authors: Kendirli Selçuk , Ülker Yakup , Tuna Muharrem
Published: December 2019

After 2000 year, there are series workings for solving problem which is the poor people has got very low earning. The micro finance companies importance increased during this period for breaking the beggary, give strong to the women. The reason of giving to micro finance credit is given for react to entrepreneurship capital, buying for raw materials and buying for machinery and equipment. In 1990 after the independence, Kyrgyzstan which is one of the developing countries has created suitable economic conditional for micro finance credits. It has grown up because the financial sector is not developed and populations’ earning is not too much. In this study, there was a research about micro credit application in Kyrgyzstan.
Changing Dynamic Structure of Central Asian Economies
Authors: Karluk S. Rıdvan
Published: December 2019

I would like to start by thanking the Organisation Committee for giving me the opportunity to speak today. Welcome to the third of the International Eurasian Economies Conferences.
This is my fourth visit to this beautiful city since 1992. I have witnessed rapid development on each visit since the Soviet Union dissolved and became independent countries.
The conference shall help academic members and decision makers in the field of Eurasian economies reach results that set out their path and enable regional economies to contribute to the global world economy.
Monetary Response to Exchange Rate Dynamics: Regime Switching – Chartists and Fundamentalists Application to Australia
Authors: Syarifuddin Ferry
Published: December 2019

In this paper we study the eﬀect of central bank intervention within a heterogeneous expectations exchange rate model. The empirical evidence is conducted by applying a Markov switching approach to daily AUD/USD exchange rate, intervention data of the Reserve Bank of Australia from 2006 to 2012. Our results are supporting both chartists and fundamentalist regimes. It is shown that the two regimes are persistent. However, Reserve Bank of Australia efforts to exert a stabilizing eﬀect of foreign exhange interventions, the result is inconclusive.
Sustainable Environmental Policy in Turkey: Climate Change Case
Authors: Turan Abdulmenaf , Güler Mahmut
Published: December 2019

Environmental problems have become the main agenda of all countries in the world since 1970’s. Various reports have been written, international meetings have been held and various contracts, agreements and action plans were accepted according to these decisions. Each of these arrangements has reflected to policies of countries. The most important issue of international meetings is that environmental values and natural resources should be used rationally and without extravagancy, should be protected and sustained considering the policy of using rights and benefits of current and future generations. In this sense, the concept of “sustainable development” which aims at enabling economic growth and is defined as an environmentalist view in included in the report called Our Common Future which is prepared by Bruntland in 1987 and presented to United Nations Commission of Environment and Development. Later on, this principle was accepted as the main principle of meeting in RIO Summit of 1992. Turkey which is one of the developing countries did not remain out of this process and determined environmental policies in accordance with decisions in global level. Turkey participated in both meetings mentioned above; carried out preparation studies according to these principles and adapted these principles to legal regulations and policies about environmental and economic development. In this study, first of all historical development of sustainable development concept in global sense will be explained and then it will be evaluated how this principle influences environmental policies in Turkey in analytical way together with examples of practice.
The Tax Burden as a Criterion for the Reform in Tax System of the Kyrgyz Republic
Authors: Fynchina Khicheza
Published: December 2019

The most revealing criterion of effectiveness of tax reforms is the level of the tax burden. Optimal way to estimate sectoral tax burden is to use tax burden coefficient for a newly created value. Other indicators of tax burden differ because of over detailing which doesn’t allow making right accentuation in analytical conclusion. This idea is supported by Chick:“in complicated system, the results gained by detailed investigation of particular aspects can’t be generalized over the whole issue of the research…” (Chick, 1864). Based on this, the analysis of structure and the level of tax burden in different branches of economics of the Kyrgyz Republic for the period of 2005 through 2011 was conducted. It was found that main tax burden carries the industry with big inequality. The main tax burden in Kyrgyzstan falls on mineral resource industry (coefficient of tax burden an average of 30), while in manufacturing industry it is one of the lowest indexes (0,68) and in health care (0,63). The structure of tax burden has changed in relation to the introduction of sales tax. In addition there is a big portion in tax burden among almost all sectors of economics and VAT (for domestic products). The ways to reform the tax system are: the harmonization of indirect taxes (for example through the cancellation of the sales tax while increasing the rate of VAT), review of tax exemptions, conditions and methods of supply, the list of taxable supplies, as well as the principles for determining excise goods.
Theoretical Foundations of Privatization and Results in Turkey
Authors: Bal Oğuz
Published: December 2019

Liberal economic order, businesses efficiency, productivity and profitability, competition for work is present in accordance with the principles defended private property order. As sistematical the main foundations of economic liberalism created by Adam Smith. Then, his prenciples developed by evolving Classic School, continued to the sovereignty until the Great Depression of 1929. I.World War took place in an environment dominated by Classical Ekol During, and after the war, from the principles of Classical School had not doubt. In 1936, John Maynard Keynes, the basic assumptions of the classical school refused. Following the II. World War; the 1950s and 1960s,sounds of the proponents of the liberal principles, was not strong as much as Keynesians. In the 1970s, emerged the world's most developed economy ABD, the high unemployment and inflation. Until 1973, wasn’t confronted with a serious crisis. Content of the neo-liberal economic policies between 1975-1980 was adopted. Since the 1980s, heavily affecting the world economy started to implement neoliberal policies. Acceleration of privatization, taxes, discounts for large scale unemployment, increase monetary measures to keep inflation under control was applied. In this article, on eight chapters were created. In the chapters, concept, scope and content, historical background of privatization, investigated material causes that give rise to privatization, the basic bases of privatization, the ideological foundations of privatization. Privatization aims were discussed, and was given examples of countries is characterized by intense privatization. The general results and in Turkey latests cases were discussed.
Investigating Existence of Tourism-Led Growth Hypothesis in Cental Asian Republics: A Bootstrap Panel Causality Analysis
Authors: Erdem Ekrem , Tuğcu Can Tansel
Published: December 2019

The contribution of tourism to economic growth can be analyzed under the hypothesis of tourism-led growth. In this sense, this study aims at investigating the existence of the tourism-led growth hypothesis in the Turkic republics for the period 1995-2011. To this end, a bootstrap panel Granger causality analysis which was recently developed by Konya (2006) was employed. Results showed that, in a panel context, the tourism-led growth hypothesis is valid for the Turkic republics. However, the validity of this hypothesis is country specific.
Satisfactions of Islamic Banks’ Costumers: The Case of Turkey
Authors: Kaytancı Bengül Gülümser , Ergeç Etem Hakan , Toprak Metin
Published: December 2019

Despite differences in the principles by which they operate between the participation (Islamic) and conventional banks, there is no huge difference between the products and the services provided by these banks. The distinctive features of the participation banks, compliance with the Islamic precepts, are not the only way for these banks to appeal to the customers. For this reason, customer satisfaction is an important element in the banking sector. The major goal of this study is to analyze the level of awareness and satisfaction among the customers of the participation banks. This study which uses the data compiled through the surveys held in Eskişehir with the participation of 500 Islamic bank customers reveals findings that suggest that most of the customers are satisfied with the products and services by the participation banks and that they have high level of awareness on the Islamic banking products.
On the Predictive Power of the Yield Spread for Future Growth and Recession: The Turkish Case
Authors: Kaya Hüseyin
Published: December 2019

This paper investigates the predictive power of the yield spread on future industrial production growth and recession in Turkey. Employing the linear regression model we find that the yield spread has predictive power when forecasting industrial production growth. The results also suggest that in the inflation targeting monetary policy period, predictive power of the yield spread has increased. Furthermore, we investigate whether the yield spread predicts recession by employing a probit model. Since no official recessions are available in Turkey, we determine the recessions using the BBQ methodology. The findings suggest that the yield spread predicts the recessions about one year ahead.
The Effect of Culture on Economic Development and Turkey-Russia Economic Relations
Authors: Usta Emine Ebru
Published: December 2019

Globalization is worldwide integration of economical ,cultural,political,religious and social system.The incremental competitive conditions of nowadays make the firms not only analysis the other countries economic or political system but also cultural,religious and social systems. In this respect for globalization world , it is sure that culture and economy get the crucial role at the inter state relations.At the base of turkey and Russia also lays this dialog.For this reason in this study it is aimed that with current parameters tried to explain after diagnosis in general means the effects of culture on economical developments especially after 2001 economic recession- lives important regulation period in which known power transition world economy -Turkey,takes place in the developing countries, with Russia Federation ,important member of ascending market economy.
Turkey - Black Sea Economic Cooperation Organization: Foreign Trade Relations during the 1996-2012 Period
Authors: Ardıl Cemal
Published: December 2019

This paper presents the regional economic relations between Turkey and Black See Economic Cooperation Organization (BSEC). The Heads of State and Government of eleven countries: Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey and Ukraine signed the Summit Declaration and the Bosphorus Statement giving birth to the Black Sea Economic Cooperation on 25 June 1992, in Istanbul. On 5 June 1998, the Heads of State or Government signed the BSEC Charter, came into force on 1 May 1999 BSEC has evolved into an international regional organization for economic cooperation. The organization has 12 members since Serbia joining the organization in 2004. It came into existence as a unique and promising model of multilateral political and economic initiative aimed at fostering interaction and harmony among the Member States, as well as to ensure peace, stability and prosperity encouraging friendly and good-neighbourly relations in the Black Sea region. Countries bordering the Black Sea, Balkan and Caucasus formed the BSEC countries cover an area of approximately 20 million square kilometer and represent more than 350 million people. The region with the foreign trade volume of U.S. $ 300 billion per year draws attention to the rich natural resources; and is the main European energy and transport corridor transfer. The Black Sea region is a contested neighbourhood and the subject of intense debates and conflicts in the globe. Also, this reflects the changing dynamics of the Black Sea region, its complex realities, the interests of outsiders and the region’s relations with the rest of the globe. Moreover, its strategic position, linking north to south and east to west, as well as its oil, gas, transport and trade routes are all important reasons for its increasing relevance. Turkey's foreign trade volume with BSEC member countries is steadily increasing as per the findings over the period of 1996-2012.
Effects of Entrepreneurship on Economic Growth in Transition Economies
Authors: Gerni Mine , Nişancı Murat , Çelik Ahmet Alkan , Yurttançıkmaz Ziya Çağlar
Published: December 2019

The emphasis on entrepreneurship with the importance for economic growth and development is increasing day by day. This situation is particularly feeding the level of development, but also providing to have high level of economic, social, technological and cultural infrastructure in developed countries. In other words, this is particularly the level of sophistication feeding, but also in developed countries, economic, technological, social and cultural infrastructures are also leading to a high level of entrepreneurship. In other words, more entrepreneurial individuals grow in the country which has economic and social conditions in relevant level and this increase the importance of determination on the performance of economic growth. In this study, until the 1990s, private enterprise was almost zero in 1991 to the former socialist countries with the transition process relations of production and consumption was abandoned from planned economy conditions to in the conditions of market economy. In this aspect, the factors affecting economic growth, entrepreneurship and employment variables are the level of savings. After econometric analysis, all independent variables are found significant and the impacts of those variables on economic growth are examined positive. This showed that entrepreneurship took a place as an important factor on growth performance of countries in development such as labour and capital.
Problems Encountered during the Transition to Market Economy in Azerbaijan and Solution Attempts
Authors: Bulut Cihan , Suleymanov Elchin , Hasanov Fakhri
Published: December 2019

After re-gaining its independence on 18 October 1991, the Republic of Azerbaijan started to transform to the market-based economy and to integrate into the world economy. The country’s oil and natural gas reserves have been considered the main source for financing range of government programs for reforms. On the one hand, these reserves had to be used effectively; on the other hand, there was a huge demand for foreign investment for extraction. To this end, Azerbaijan has signed “Contract of the Century” in 1994. Although Azerbaijan has wide oil and natural gas reserves, it has faced a number of difficulties in its transition way. This study analyzes these problems and reforms for solving them. One of the types of the problems were related to the economic structure of the former Soviet Union: disruption of the economic ties between the republics resulted in decline of production, high levels of unemployment and prices and consequently led to an economic recession in all of the republics. Another set of problems was related to lack of sufficient institutional bases to transform to the market economy. Moreover, internal conflicts between the political parties and groups for having authority as well as political chaos in the republic can be considered other serious problems during the transition period. Furthermore, Karabakh war and occupation of 20 percent of the Azerbaijani territory by the Armenian military forces had made the situation extremely complicated. Despite all of these extremes, Azerbaijan transformed to the market-based economy decidedly and even became one of the fast growing countries of the world. Even in 2006, with the GDP growth rate of 34.5 percent, Azerbaijan was a leader among growing economies. In parallel with this significant economic development, there is still a need for some socio-economic and institutional reforms in order to get a well-functioned market-based economy in Azerbaijan.