bluuebunny/crossref_metadata_2025 huggingface dataset:
The Relations between Stabilization Policies and Economic Growth in the Economies of Central Asia and Caucasia
Authors: Aydemir Ahmet Fatih , Çelik Ahmet Alkan
Published: December 2019

In the early 1990s, with the fall of communism and the dissolution of USSR, the so-called transition economies have emerged in Eastern Europe and the former USSR. Within this transition period from planned to market economies, fiscal and monetary discipline has not been adequately emphasized while the crucial aim of these economies is to realize price liberalization, privatization and economic stabilization. Hence, the problems of income distribution and growth have not been able to be solved. In this paper, we analyze the relations between economic growth and fiscal and monetary discipline in the economies of Central Asia and Caucasia since their independence. We use WDI-2010 data of the World Bank in order to develop a model including fiscal and monetary variables, which aims to represent the growth experiences of the aforementioned countries.
Determinants of Corruption and their Relationship to Growth
Authors: Gerni Mine , Emsen Ömer Selçuk , Özdemir Dilek , Buzdağlı Özge
Published: December 2019

Corruption defined as the exploitation of the public institute for personal benefit has displayed itself in many societies in different ways throughout the history. Lack of information regarding presence and pervasiveness of corruption in central planning economies has been removed as a result of a transition to free market economies and the phenomenon of corruption has begun to be examined through diverse angles. Thus, in this study, the determinants of corruption were investigated and corruption-growth relationship was examined between 2002 and 2010. As for the parameters believed to determine corruption, openness of economy, size of the public, economic freedom, political stability, GDP per capita, urbanization growth rate, inflation, EBRD and HDI index regarding education and health were taken into consideration. Investigation of the relationship between the CPI (Corruption index) and the aforementioned variables and corruption-growth relationship were analyzed by means of panel data analysis.
Structural Change in Kazakhstan Economy (2005-2009): An Analysis with Input-Output Model
Authors: Özdil Tuncer , Turdalieva Ainura
Published: December 2019

One of the main objectives of economic policies of developing countries is implementing structural changes to enhance the economic development. Globalization as well as in all over the world, has accelerated this structural change in Kazakhstan. Despite the fact that concept of the economic structure is wide range, the structural change explained by the different approaches in the research, which is important in reflecting different aspects of the country's economic structure and in determining economic plans and policies. Under these circumstances an input - output analysis of economic structure is the main reason to write this paper. For this purpose, in the given research was used input-output tables prepared by the Agency of Statistics of the Republic of Kazakhstan for the period 2005-2009, to examine changes in the structure of economic production by industrial interdependence; changes in production techniques; the intermediate product effectiveness and total efficiency coefficients, to inform about structural changes in the economy and make contribution to policy and plan making process. Research based on analyze of input-output tables prepared by the Agency of Statistics of the Republic of Kazakhstan as a source of data for the years for 2005 and for 2009. For the purpose of the study structural changes were calculated and compared by industrial interdependence with the production techniques, intermediate production usage coefficients on sectoral and macro-level. Thereby, technical results obtained from the explanation of positive and negative aspects of production in Kazakhstan on sector basis, allows to give recommendations.
The Relationships between Competitiveness and Economic Growth: A Study on the Countries of Central Asia and Caucasus
Authors: Gerni Cevat , Sarı Selahattin , Gencer Ayşen Hiç , Yurttançıkmaz Ziya Çağlar
Published: December 2019

The relationships among input, production and market suddenly broke down after the collapse of the USSR in 1991. The reflections of this disintegration are deeply felt in the Central Asian and in the Caucasian economies, which lack the traditions of being a government. The imbalances in the supply and demand, such as shutting down of factories due to breakdown of production relations and the resulting severe rise in the unemployment rate, caused a transition recession. As well-known in the literature, the main reason behind this is the interdependency of the production structures in these newly independent former Soviet countries. Large industrial establishments were left alone due to lack of sufficient raw materials and other inputs, due to lack of new technologies, and/or due to political void resulting from the transition period. In the newly established economic and political system, all of these countries, namely Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Uzbekistan, Tajikistan and Turkmenistan, try to realize their economic growth and development by specializing in the production of goods in which they have an economic advantage in terms of competitiveness. In this study, the effects of competitiveness on economic growth is investigated for these 7 countries during the 1995-2010 period using panel data analysis based on the Lafay index. In the light of the results of this research, policy recommendations are attempted in order to determine the sectors in which these countries are more competitive and hence to suggest ways of increasing their economic growth rate.
Gravity Modeling of Turkey's International Trade under Globalization
Authors: Gencer Ayşen Hiç
Published: December 2019

Gravity modeling in international trade is developed by Tinbergen and Poyhonen in the 1960s, inspired by Newton's standard gravity formulation. This model suggests that the volume of trade between two countries is proportional to the product of their national income and inversely proportional to the distance between them. This study attempts to answer the question whether the gravity model is still valid for the case of Turkey today in the age of globalization and declining transportation costs due to improvements in logistics and technology. To this end, Turkey's imports as well as exports data with respect to all the countries of the world for the 16 years between 1993 and 2008 are analyzed. The results show that the gravity model, even in its basic form, is still powerful in explaining the trade volumes between Turkey and all other countries. In addition, the basic model is extended to analyze Turkey's trade with specific country groups such as the EU countries, the Islamic countries, the former Soviet Union countries, and the Central Asian countries. The analysis concludes that except for the Central Asian countries, Turkey's trade is not specialized with any particular country group. The 1995 Customs Union with the EU or any other step already taken towards full membership into the EU has not significantly increased Turkey's trade volume with the EU members over the amounts predicted by the basic version of the gravity model for any country pair of similar distance and GDP levels.
Economic Freedom and Employment in Azerbaijan, Kazakhstan, Kyrgyzstan and Turkey: A Panel Data Analysis
Authors: Erdem Ekrem , Tuğcu Can Tansel
Published: December 2019

Although there exists a few contrary empirical results, the link between economic freedom and growth is usually accepted as positive. Since, employment is a variable which moves together with GDP and it is accepted as one of the preconditions of economic growth; one can simply assume that the anticipated relation between economic freedom and employment is positive, too. This study aims at investigating the preassumed relationship between economic freedom and employment in the Turkic Republics by covering panel data of the period 1998-2010. To this end, economic freedom index of considered countries regressed over employment indicators (i.e. total employment level and labor participation rate) and found positive relationship between economic freedom and employment. A percent increase in the degree of economic freedom raises total emploment level and labor participation rate by 0.23% and 0.15%, respectively. These findings imply that if the governments of considered countries wish higher employment levels, they should give more importance on economic freedom.
Collusion in the Turkish Banking Sector
Authors: Aydemir Resul
Published: December 2019

In this paper, I consider the Turkish Banking Industry, which is dominated by a few large banks. Using a conjectural variation approach, I estimate a structural model to examine the market conduct of the largest banks for the period 1988-2009. Estimation results suggest that the Turkish banks colluded in the loan market during the sample period where the average mark-up is estimated to be in the range of 44% to 86% depending on the empirical specification. This evidence demonstrates a conflict between market concentration and competition in the Turkish banking industry. Thus, regulatory agencies should be cautious against attempts to increase concentration in the banking industry.
The Importance of Azerbaijan's Energy Revenues in its Exports Volume and the Effects on the National Economy
Authors: Aras Osman Nuri , Suleymanov Elchin
Published: December 2019

Large energy reserves have been a major contributor to the Azerbaijan economy, and effected the country's exports volume, and have become a main determinant of the country's economic structure. Azerbaijan is a country that has major oil and gas based economy with the completion of the Baku-Tbilisi-Ceyhan Oil Pipeline in 2005 and Baku-Tbilisi-Erzurum Gas Pipeline in 2007. First export oil was pumped into Baku-Tbilisi-Ceyhan in May 2005, and the oil reached Ceyhan in May 2006. On the other hand, first export gas was pumped into Baku-Tbilisi-Erzurum in March 2007. The importance of country energy source revenues on Azerbaijan's export volume and the effects on national economy has increased with the completion of these pipelines year after year. Azeri export’s reliance on energy source revenues keeps dominant position in Azerbaijan’s exports despite efforts to diversify Azerbaijan’s economy away from oil. Finally, crude oil made 86 percent and oil products made 6 percent, so oil and oil products made 92 percent of Azerbaijan’s export in 2011. Non-oil products made up only 8 percent of the country’s export last year. Thus, non-oil sector contribution to Azerbaijani export was lower than Georgian export in 2011. This means that increasing of total export volume of Azerbaijan is not sustainable.
Economic Fluctuations in Turkey in the Light of Business Cycle Theories
Authors: Fırat Emine
Published: December 2019

Some economists have tried to demonstrate the cause of economic fluctuations and its solution with business cycle theories. The classical school emphasizes the efficiency of free market economy and the optimization of private economic factors. The Keynesian school believes that the causes of economic fluctuations arise from not only just the deviations from market equilibrium but also market failure on a grand scale. The debate over the source and propagation of economic fluctuations rages as fiercely today as it did in the Great Depression that began in 1929. Economic Fluctuation models investigate to answer the question of why economies go through boom and bust and why economies experience cycles of recession and recovery. In the economic literature, based on the Business Cycle Theories many different approaches have been proposed. While economists discuss the ultimate form of the right business cycle model, they must take into consideration the decisive factors of economic fluctuations in the past century. In this study, the local economic crisis occurred in Turkey in recent years are investigated in the light of Business Cycle Theory and also the effects of macroeconomic policies are evaluated on the basis of economic fluctuations models.
The Global Economic Crisis and its Effects on the Monetary Policy of Turkey
Authors: Öztürk Serdar , Sözdemir Ali , Ülger Özlem
Published: December 2019

Capitalism has faced the most severe and the longest crisis since 1929. Resource of the emerging financial crisis in the second half of 2007 was mortgage crisis that experienced in the United States. The collapse of housing market has caused great instability in the financial markets and then turned into the strong liquidity crisis and spread all over the world. The impact of global economic crisis on the world economies in the last quarter of 2008 was very fast and it occured in a devastating way. In this process, the asset prices declined, capital of financial institutions seriously damaged and this caused bankruptcy of many large financial organizations such as Lehman Brothers. In this context, the growth rates in the world fell down quickly, external demand contraction and global export decreased. At this point, developed countries applied large scale financial incentive packages. Especially, the Central Banks of developed countries have provided exceptional levels of liquidity that is used as a monetary policy tool by taking the risk of deterioration of their balance sheets. During this period, as a result of these policies followed by money and finance authorities have changed only the shape of global crisis and as a result the financial crisis has turned into a debt crisis. The effects of Global Economic Crisis on the Turkish economy emerged prominently in the last quarter of 2008. However, in comparison with many European countries, it is clear that all dynamics have became more favourable for Turkey after 2010.
The Importance of Reputation Risk in the Banking Sector
Authors: Savram Merve , Karakoç Ali
Published: December 2019

Banks have an important position finance sector any disruption or crisis in banks activities directly affect the real sector. Therefore, banks lead to a loss of some simple errors institutional prestige. The aim of that study is to demonstrate of importance of protecting the reputation in Turkey an the world in banking sector. And also, take precautions of how to protect reputation in banking sector. For this reason, first of all the role and importance of banking is discussed. Another part, it was put emphasis on the importance of stability of banking. Next part, definition of the concept of reputational risk in banking sector, trust is focused by the study which consist of reputation and protection. After that part, preventing loss of reputation and suggestions are made about how to reduce reputation risk. In conclusion, solutions are exposed and evaluation of proposals for solutions.
Transboundary Environmental Damages in the Black Sea Basin and Regional Liability Regime
Authors: Özkan Arda
Published: December 2019

The Black Sea is a significant basin where transboundary environmental damage activities take place. The environmental problems in the Black Sea are not only on the agenda of six Black Sea littorals, but also the states in the wider Black Sea basin. The large scales of strategic, economical and political problems in the region require entrepreneurship and co operations of the other states on the same platform. This study has two main environmental security dimensions: One of them is identifying the damages and opponents; the other one is the security problem in transboundary environment and the responsibilities of the Black Sea states. In this regard, this study aims to initiate a conversation in precautions against transboundary environmental damages considering the current security risks.
Strike is a Fundamental Right for Workers
Authors: Andaç Faruk
Published: December 2019

Strike is a temporary action for a mass refusal of employees to work in order to ensure that their demands are met. It is called “Strike” in English (which means to break, to burn, to attack) because the first strike events occurred in England as which involved breaking the machines using brake blocks. Workers used to show their reactions towards their employer as by breaking the machines. The same phenomenon existed also in France. Workers in France used to leave their working places all together and go to the Greve area next to River Seine and seek solution to their problems in the cafes. This is how the concept of going on strike, Aller à la Grève (in French), was adopted by Turkish. Strike is a right for workers. It is to leave a workplace unanimously. It is not considered a reason for annulment of employment contract. It is legal and aims to ameliorate the working conditions. Workers should possess the same conditions as their employer in order to determine working conditions by their own free will. Although the employer seems to possess a stronger position as he/she owns the workplace, the workers may possess the same rights as their employers by becoming members of a trade union. When the workers and the employer are unable to reach an agreement on the working conditions, all the workers leave their workplace and go on strike. They partially or completely hamper the activities of the employer. During the strike the workers do not receive their salaries.
Burgeoning Sino-Russian Economic Relations and the Russian Far East: Prospects and Challenges
Authors: Erdem Çağrı
Published: December 2019

The colossal economic transformations and political intrusions had been affecting brutally China and the Soviet Union in the final decades of the twentieth century. Currently, Russia is a gigantic power, struggling to rebuild its economic base in an era of globalization. There are a number of significant difficulties of guaranteeing a stable domestic order due to demographic shifts, economic changes, and institutional weaknesses. On the other hand, the economic rise of China has attracted a great deal of attention and labeled as a success story by the Western world. The current growth of the Chinese economy is of immense importance for the global economy. Both nations are part of the world’s largest and fastest-growing emerging markets—member of the BRIC. Their respective GDPs are growing at an impressive rate by any global standards. Relations between China and Russia have evolved dramatically throughout the twentieth century. However, it would be fair to argue that during the past decade China and Russia have made a number of efforts to strengthen bilateral ties and improve cooperation on a number of economic/political/diplomatic fronts. The People's Republic of China and the Russian Federation maintain exceptionally close and friendly relations, strong geopolitical and regional cooperation, and significant levels of trade. This paper will explore the burgeoning economic and political relationships between the two nations and place the Russian Far East in the context of Russia's bilateral relations with China in order to examine the political, economic, and security significance of the region for both sides.
Opinions on the Political Economy of the New Turkish Healthcare System
Authors: Kaptanoğlu Aysegül
Published: December 2019

Turkish health care system is going on health care transitions nowadays. Fundamental role of government in providing, financing and managing public services, including health care are changed. Health care marketers insist that competition and aggressive management will raise health care productivity. Health economist suggests that health is a public service and has a value. The Health Care System in Turkey is financed by public funds, compulsory insurance premiums and delivered (90%) by The Ministry of Health (MoH) that also manages the system. For the sustainability of universal access to health care special insurance programs according the rule of political economy should be built. Poor and severe ill people who cannot work and elderly may not get access to public medical insurance. So, for contributing to the nationwide public health care system rich people could give some extra insurance premium and obtain additional private insurance as well. Referral chain might be established in the country in between primary, secondary and tertiary care.
Women's Entrepreneurship in Turkey Compared to the World
Authors: Tamer Gülay
Published: December 2019

In recent years, it is strategically important for developing economies that women contribute into working areas and entrepreneurship activities because the way to create new job areas and activate unused potential in business is attached to encouragement of the women entrepreneurship. Giving priority to the policies and strategies that help women exist in business contributes to the economic and social development significantly. However, women encounter important obstacles within the entrepreneurship activities.Entrepreneurship has been speeding up in today’s world and this project aims at comparing the women entrepreneurship between Turkey and the world, the obstacles women come across in entrepreneurship and the opportunities created by women in theoretical framework.
Philosophy of the 2008 Global Crisis
Authors: Arpalı Ziya
Published: December 2019

The crisis in late 2007 and early 2008, re-questioning of capitalism and re-evaluating institutional structures have arisen. Developed countries which directing of the world economy started a process along with the comments that developed countries maintain their existence. By Western economists led to criticism of the crisis inform of "today's form of capitalism, can’t establish compliance with the changing world". The economic model based on the Balance of Imbalance is scheduled to sleep period in future years of the world management system. The sleeping process has been completed by the broken Balance of Imbalance. The process of planning in the field of application and the name given is crisis. This process should have a philosophy that mobilizing the internal dynamics of the economy. At the same time this crisis shown that money-driven economy conversion process is necessity in capitalism. The process of falling asleep economic model, in other words, the output from the crisis, not the money lead the economy but the economy lead the money. Transformation process will be realized at some point. In this study, it is introduced the philosophy of the crisis, in order to put into action the inner dynamics of capitalism’s legal infrastructure, the political preferences of the founders of the political game and to pass system into sleeping process the necessity of the transformation an economic model to the upper structure have been identified.
People's Sector as an Alternative Economic Model and the Example of Denizli
Authors: İrmiş Ayşe , Sarıkaya Mehtap , Çoban Hatice
Published: December 2019

People’s sector is an establishment of an enterprise result of bringing together production tools take decisions related to the management of this property and create self-employment opportunities with people’s own savings. This is the most distinctive feature from the private sector and the public sector. As well as the public sector and the private sector, labor is a part of the production, but in people’s sector, employees participate in management, capital and profit. In private sector and public sector there is an up to down organization but in People’s Sector, organization settles from down to top. People’s Sector resemble to publicly held companies and worker companies in Western Europe and United States but differ from them in the form of establishment and statue of partnership. Because in these companies in the West, government or private sector open shares to public or make workers partner to the shares. In these companies, managerial decisions belong to the person or group that holds most of the shares. Whereas in public sector enterprises, people come together and have equal rights in establishment and management of the enterprise, without any person or group keeping the majority of shares in the hand. Without a precedent in the world, this sector is formed in 1970’s with the savings of the workers went from Turkey to Germany and other European countries. In this study, a literature rewiev in the people’s sector has been made, then exemplary research was carried out by the founders of the two People’s sector companies.
Economic Regionalisation in the Russian Foreign Policy: Is it Possible to talk about the Eurasianist Model of Integration?
Authors: Büyükakıncı Erhan
Published: December 2019

In this paper, we try how the idea of economic regionalism has developed within the framework of the interests of the Russian foreign policy, which adopted a Eurasianist rhetoric for nearly fifteen years. As the trends of globalisation spread over the world after the end of the Cold War period, the regional integration movements also gained speed with different forms and contents. Meanwhile the countries in the post-Soviet geography adopted different political approaches towards regionalisation and globalisation by taking into consideration their own capabilities and interests. At its own side, Russia was in search of integration within the world economy by trying to implement its own regionalist policies both at the level of the CIS area and with the neighbouring countries like China and the EU. The Eurasianist discourse has no doubt such impact on Russian leadership’s choices of partners and orientations for economic regionalisation. At this point, we want to discuss if it is possible to talk about some “Eurasianist model of regional integration” as a new idea which can combine, at one side, the institutional integration process within the CIS area and, at the other, the strong regional cooperation with the Asian economic partners like China. This model can be also Russia’s answer to embrace both globalism and regionalism by preserving its own hegemonic expectations after the Soviet legacy.
Trade Openness, Financial Development, and Economic Growth in Turkey: Linear and Nonlinear Causality Analysis
Authors: Kar Muhsin , Nazlıoğlu Şaban , Ağır Hüseyin
Published: December 2019

This paper aims at empirically investigating the direction of causality among trade liberalization, financial development, and economic growth in Turkey. By employing monthly data for the period January, 1989- November, 2007, both linear and nonlinear causality approaches indicate that (i) there is bi-directional causality between economic growth and trade openness, (ii) economic growth causes financial development, and (iii) financial development leads to trade liberalization. Thereby, linear and nonlinear approaches confirm strong causal linkages among financial development, trade openness, and economic growth in Turkey. These results partially imply that economic growth depends upon trade liberalization through external finance in Turkey which has been experiencing capital account liberalization since 1989.
An Evaluation of Caucasian Countries with respect to Eurasian Natural Gas Pipeline Projects
Authors: Toprak Nuri Gökhan
Published: December 2019

Breaking down the natural gas export monopoly of Russia against to the European countries is one the very challenging issues of European authorities in the past thirty years. Despite the introduction of the Norwegian and Algerian gas to the European market in recent years, European countries are still in search of the alternative gas exporter countries to meet their increasing gas consumption. When the expectations of European countries were combined with the relative stabilization of political structure in both South Eastern European and Caucasian countries, the alternative Eurasian natural gas pipeline projects came to the European agenda gradually. In this study, it will be analyzed that both the economic and political situation of Azerbaijan, Georgia and Armenia in terms of their participation to the ongoing Eurasian natural gas projects that plans to deliver natural gas resources of the Caspian Basin to Europe. Within this context, after the brief introduction to explain what those Eurasian natural gas projects are, it will be given information, analyzed and discussed that the current positions of the Caucasian countries against these projects. It is important that the evaluation of the Eurasian Natural Gas Pipeline Projects in the case of the Caucasian countries makes the final step more reliable which will strengthen the economic integration and regional cooperation of Caucasian countries.
Stakeholder-Based Analysis of Sustainability Report: A Case Study on Mining Companies in Indonesia
Authors: Harmoni Ati
Published: December 2019

This paper reviews the experience of the mining companie in Indonesia that publish a sustainability report. By doing such exploratory research, the study aims to contribute to the development of country-specific descriptive non financial disclosure theory by establishing a benchmark understanding of how company interpret their responsible relationship with stakeholders. Based on content analysis of the annual sustainability report, this paper provide a description of current practices current prioritization in terms of social, environmental, and sustainability disclosure themes. The results show that Indonesian mining companies share a wide range of disclosure themes in order to support relationships with their stakeholders.
Sectoral Decomposition of CO2 Emissions in China and India for the Period 1980-2010
Authors: Rüstemoğlu Hasan , Uğural Sevin
Published: December 2019

Increasing amount of CO2 emissions and global warming is one of the hottest topics of world’s agenda. At the same time there exists a public awareness about this important chapter. A lot of researcher proved that in order to live in a sustainable world, necessary regulations should be done and CO2 emissions should be reduced immediately. For this study our aim is to decompose the CO2 emissions of the world’s new super powers, China and India, over 1980-2010. In order to see the accelerating and decelerating factors for CO2 emissions, the Refined Laspeyres Index used as a method. Consistent data gathered from the official web sites of the World Bank and United Nations. Five main sectors, agriculture, manufacturing, construction, transportation and other services are used. Four different impacts, scale effect, composition effect, energy intensity effect and carbon intensity effect have been discussed to see the increasing or decreasing factors of CO2 emissions. The results were interesting. The dominant impacts were the scale effect and energy intensity effect. The minor impacts were composition effect and carbon intensity effect. Fuel switching, efficient energy use and increasing usage of renewable resources are efficient tools to reduce the emissions.
Volatility Modelling in Parametric Value at Risk Calculation: An Application on Pension Funds in Turkey
Authors: Akduğan Umut , Koldere Akın Yasemin
Published: December 2019

Risk management has strategic importance with deepness and globalization of financial markets. Financial markets are faced with systematic or non-systematic risk factors. Risk management has a great importance for banks, as well as other financial institutions and investors.In this context, "Value at Risk (VaR)" is recommended as one of the methods to measure market risk by international organizations and Turkish Banking Regulation and Supervision Agency (BRSA). The parametric method (Variance-Covariance Method), one of the methods used in VaR calculation, used in pension funds which have reached large numbers and established by the Turkish pension companies. Moreover, this method is applied in two different ways based on the assumption of constant variance and based on the basis of conditional heteroscedasticity, and the results were compared. The accuracy of the calculations have been tested by backtesting method. For this purpose, daily returns company's growth equity fund between 03/01/2011 - 04/30/2013 is used for the four pension companies which is the maximum size of the fund and operating in Turkey.
Features of Business Cycles across the Middle East and North Africa: A Nonparametric Analysis
Authors: Balcılar Mehmet , Küçük Nezahat
Published: December 2019

In this paper, we provide a compressive analysis of business cycle characteristics across a large set of countries in the MENA region. Contrary to the majority of the papers on business cycles synchronization across the MENA region countries, we concentrate on the appearance of the cycle, not on its synchronization. We use robust methods that are not based on ad hoc filtering or parametric methods. Our findings suggest that important differences exist in the business cycle characteristics of the MENA region economies. We find evidence against a common reference cycle for a group of countries. Although the business cycle characteristics show some similarities among some small number of countries, overall the business cycle characteristics across the MENA countries are dissimilar.
Benefiting from Industrial Heritage: Toronto Distilery District Urban Transformation Example
Authors: Torlak Sülün Evinç
Published: December 2019

It is a common fact that the confinement and to become unfunctional of the historical factories due to they have remained behind of technological improvement, not been managed effectively and polluted to the environment. However, their falling into disuse the demolition and the destruction of these buildings cannot be accepted. A lot of factories in Türkiye that have been able to reach today from the industrial background had been demolished for their land value, and a few of them had been re-functioned by transforming. These plants as contributes to the economic development of the countries and bears the stamp of the past, also could be re-evaluated and transferred to future generations by preserving their original identities. With the transformation of a historical plant, not only an industrial heritage would be protected but also this act would contribute to the economic development and cultural significance of the urban, and improve the quality of life. On this issue, there are lots of examples in Western countries. In this study, a succesful transformation sample from Canada-Toronto has been handled. In Distillery Region where has a significant role in the establishment, enrichment and physical embodiment of the city of Toronto, the regeneration/transformation process has been achieved thus the region has been redounded to tourism industry. In the study, the development of Distilery and its meaning for the urban is stated, the transformation process and its effect on urban is discussed and at this issue some suggestions are made while determining the deficiencies in Türkiye.
An Examination of the Relationship between Exports and Wages for Turkey
Authors: Oransay Gürçem
Published: December 2019

In this study the together with increasing foregin trade after trade liberalization, affects of changing income distribution on wages has been discussed. Assuming wages as an issue of income distribution, it continues with foregin trade theories which are related to foreign trade and affect of export on wages in particular. The developments such as effective markets after trade liberalization, high efficiency and removal of barriers in front of international trade increase cost competitiveness and wage levels change. It is still discussed whether foreign trade has positive or negative affects on wages but it can be claimed that differences of opinion vary depending on economical structures and trade volumes of countries. Using a model which has been supplied from both theoretical and practical literature, this research will try to find out affects of export and openness on wages using unit root test, cointegration techniques and error correction mechanism on Turkish economy during the period of 1988:Q1-2010:Q4. Affects of both export and openness on wages has been studied seperately for sub sectors of Turkish Manufacturing Industry. Although there is not a full compliance in all sectors which are studied in all models within periods examined, it has been found out that export and openness create a negative affect on wages.
An Analysis of the Effects of 2008 Global Crises on Transition Economies using Cluster Analysis
Authors: Özer Ali , Türkmen Adem , Çadırcı Bülent Diclehan
Published: December 2019

In 2008 the global financial crisis on economic conjuncture had affected on not only developed and developing countries but also remarkably on transition economies. Effects of financial crisis in 2008 showed up impacts on developed countries in 2008, on the other hand, it is known that the reflection of crisis has emerged in 2009. In this study, it is examined that transition economies has moved different depends on time, additionally the phenomenon of facing crisis has followed heterogeneous patterns transition economies in 2009 the while transition economies has seemed as showing homogenous economic performances/movements on either specification or previously their structure. It is analysed in three cluster using classification of chosen countries. Among chosen countries, taking place in same cluster Belarus, Cambodia, Kazakhstan, Lao, Latonia, Lithuania, Romania and Russia between 2007 and 2010 have responded similar to both input and output of crisis. Moreover, the cluster for Kirgizstan, Macedonia and Moldova is determined as the most moving group between clusters and this group, which moved homogeneously within cluster, is affected on crisis differed from other countries. The cluster analysis has been investigated with 20 transition economies has appropriate data and it is determined that the relatively low level of current account economies has weak impact on the crisis contagion; while the exit from crisis is created stronger effects in the relatively high level of domestic savings economies.
The Effect of Geographical Factors on State Policies and Economy
Authors: Demirci Saadat
Published: December 2019

This study emphasizes environmental, especially spatial and geographical factors and determining and conditioning effects of economical and political behaviors of states. Natural values, location and geography determine policies and economic welfare of states. Various geographic characteristics and climates determine potential power of states. States, that have natural wealth and using will of this wealth, create economical and then political power. The main goal of this study is to analyze the concept of location and relation between power and its components.
Women Entrepreneurship in Slow Cities of Turkey from a Sociological Perspective
Authors: Sungur Zerrin
Published: December 2019

Cittàslow movement was established in Italy in 1999. The Slow City movement incorporates a philosophy and a commitment to maintain the cultural heritage and quality of life of their membership towns. A slow city aims to improve the quality of life of its citizens and its visitors. Member towns are obliged to pursue local projects protecting local cultures, contributing to a relaxed pace of life, creating conviviality and hospitality and promoting a unique sense of place and local distinctiveness. There are nine slow cities in Turkey in 2013. This study examines the women entrepreneurship in slow cities of Turkey from a sociological perspective. Slow cities offer many opportunities in the meaning of local development especially for women in Turkey. They can engage with small business, hand-crafts, and organic farming in slow cities. But training of women, certification of the quality of artisan products and awareness of the citizens of slow cities are the critical issues in the sustainable local development process. Therefore, it is possible to increase income level of women living in slow cities in Turkey and also to preserve local tastes.
The Relationship between International Oil Prices and Current Account Deficit: The Case of Turkey
Authors: Mucuk Mehmet , Gerçeker Mustafa , Ay Ahmet
Published: December 2019

In developing countries such as Turkey, the current account deficit, occuring due to the lack of national savings, is considered to be one of the determinants of economic crisis. At the same time owing to Turkey is dependent on foreign countries for energy resources, current account deficit is highly sensitive to fluctuations in the prices of these resources. This paper, investigates the causal relationship between international oil prices and current account deficit for Turkey using Johansen cointegration and causality tests. The empirical findings show that there is a relationship between two variables in the long term.
A Study on Informal Employment in Turkey from Theorical and Emprical Perspectives
Authors: Aydın Eren Gül
Published: December 2019

This paper elaborates both theorical and empirical evolution of the informal employment as an part of the informal economy in Turkey. First of all, economic dualism and migration is emphasized as the main reasons of informal employment and examine other reasons of the informal employment such as social,fiscal and economic.Later of this study, an econometric model is employed by using Multiple Linear Regression Analysis. Informal employment is used as independent variables of industrial production(IPI). The first result of econometrics model, informal employment was seen statistically significiant determinator of IPI. Secondly, some production and employment variables and Gross National Product are used for estimating decisive factor of the informal employment in Turkey between 2005 and 2012. Results show that GDP and all other variables used in regression positively corelated to informal employment except import and export in Turkey.
The Effects of European Debt Crisis on Turkey’s Exports
Authors: Tunçsiper Bedriye , Biçen Ömer Faruk
Published: December 2019

The crisis that arose in Greece at the last quarter of 2009 affected the countries that have heavily government debt like Spain, Portugal, Italy and Ireland as soon as 2008 Global Financial Crisis originating from USA Mortgage Markets affect European Union (EU) countries under heavily debt burden. The effects of that crisis in the short run are demand shrinking and decrease in export. Turkey, which has important economic relations with EU countries in the last fifty years, is the primary country that can be negatively affected from demand shrinking in Europe. Turkey that indirectly experience 2008 global financial crisis because of the decrease in export volume in Europe also seem fatefully affected in this crisis. This article aims to determine the effects of the crisis to Turkey’s export ampirically in the EU countries that have the lion’s share in the Turkey’s export markets. As well, it is trying to explain whether this crisis affects over-all Europe or not.
The Role of Economic Integration in Trade Openness: The Black Sea Economic Cooperation Organization Case
Authors: Murat Sedat , Şener Sefer , Kılınç Savrul Burcu
Published: December 2019

Trade liberalization is one of the greatest economic arguments of the economics and it is claimed that trade openness is a crucial phenomenon for the well-being of nations since Adam Smith. Although various practices have been seen in different parts of the world in the history, from 1980s trade liberalization movements have been the dominant trend. However liberalization of trade in developing countries brought debates in economic literature and it is argued that open trade can have catastrophic effects instead of providing growth and welfare to the practitioner countries. In this study if The Black Sea Economic Cooperation Organization had contributed the member states to liberalize their trade has been investigated. The changes in the rates of inward and outward investment, import, export, population and labour force of the member countries during the establishment period of the Organization has been evaluated. The data is collected from Worldbank National Accounts Database, IMF World Economic Outlook and Balance of Payments Database and UNCTAD. The results of the study has shown that although the establishment of the organization had positive effect on investment and trade flows of the countries, it had no effect on labour flows of the member states.
Capital Flows and Growth in Emerging Market Economies: The Case of Turkey
Authors: Uygur Ercan
Published: December 2019

Since May 2013, we have witnessed sudden stops and large reversals in the flow of capital to the emerging market economies (EMEs). What we have witnessed is the reversal of the surge of capital that started in 2009 from the advanced economies to the emerging ones, as has been expected. The episodes of capital surges and retrenchments have been observed repeatedly in the last three decades. In this period, capital flows across countries have increased dramatically, but their fluctuations and volatility have been even more dramatic. Furthermore, these flows have played an increasingly important role in the business cycles of both advanced economies and EMEs and during episodes of crises. Why then, in spite of cycles and crises, there is free flow of capital to EMEs? One answer is that these flows might be used to finance investments and to contribute to the long run growth of the EMEs. The basic aim of this paper is to examine the validity of this assertion. Thus, the paper attempts to establish the effect of capital flows on the growth performance of the EMEs, with special reference to Turkey. After a survey of research on the subject, the paper first provides an account of the recent developments in international capital flows. The paper concentrates more on capital flows to Turkey in terms of categories, namely, foreign direct investment, portfolio investment and credit flows. The paper then empirically investigates the effect of these three categories and total capital inflows on the growth of the EMEs. Policy implications of the findings are also discussed.
The Affects of Tourism Revenues on Economic Growth: A Panel Cointegration and Causality Analysis
Authors: Kamacı Ahmet , Oğan Yener
Published: December 2019

After the end of the Eastern Block, The Turkic republics tried to solve the problems with the help of Republic of Turkey which they felt near to them. With his international experiences Turkey became the leader of the Turkic republics. Tourism revenues which is in the current accounts of the balance of payments, contributes to the development of the country by encouring both the employment and the growth numbers. The main reason of this is that the revenues of the tourism is both the main source in the financement of the foreign deficit and the budget deficit. In this paper the revenues of tourism is analysed by cross country panel study for Azerbaijan, Kazakstan, Kyrgyzstan, Uzbekistan and Macedonia with Turkey (1995-2011). We acquired the data of this work from the web site of the IMF. Unit root test was made to testing stability of data which are taken. After that cointegration and causality tests were made to learn if a cointegral relationship was occurred between the revenues of tourism and economic growth or not. As a result of this study we done, the data level is not stable. Because of that reason, we took the difference of them. In the study, we have been identified causal relationship between the revenues of tourism and economic growth in Turkey and other countries and we have been identified causal relationship between economic growth and the revenues of tourism in Turkey and other countries.