bluuebunny/crossref_metadata_2025 huggingface dataset:
Perspectives for Economic Relations between Kyrgyzstan and Kazakhstan
Authors: Pirimbaev Jusup , Ganiev Junus
Published: December 2019

This article focuses on a comparative analysis of socio-economic development of Kazakhstan and Kyrgyzstan, as well as issues of trade and economic relations between them. To achieve the goal have been analyzed socio-economic dynamic performances of these countries, as well as the economic potential. Later, basing on these analyzes offered measures to enhance economic cooperation between them. More specifically, Kazakhstan can invest in mining and energy sector of Kyrgyzstan, we need to have long-term strategies for economic cooperation between our countries and steadily develop trade and economic relations, should legalize all illegal trade and economic relations between two countries.
An Evaluation of Turkish and Kazakh Mining Laws from the Perspective of Sustainable Development Principles
Authors: Topaloğlu Mustafa
Published: December 2019

Some initiatives were established at international level in order to attain sustainable development in the mining sector, which is being discussed worldwide starting 1980s. The concept of sustainable development is defined as a development that meets the needs of the present without compromising the future generation’s ability to meet their own needs. The law of sustainable development is a cross-sectored system of legal thinking that was evaluated by the national and international economic law, environmental law and human rights law. In the reforms of mining law, which have been realized after 1990s, the sustainable development is used a focus concept. The mining codes were enacted under the influence of having provisions related to security of tenure, establishment of transparent mining administration, access to mining land, and competitive-fair fiscal regime. In this paper, sustainable development is defined as a concept and its legal dimensions are explained. The mining reforms, which is being considered in the context of the sustainable development, are examined and a resolution that offers view of de lege ferenda is proposed. In addition, the related regulations and practices in the current Turkish and Kazakh Mining Laws are also included.
Regionalism in Russian Foreign Policy and Russian Integration Strategy through Eurasian Economic Community
Authors: Ergül Osman
Published: December 2019

This paper aims to analyze how Russia could develop different regional models of economic cooperation in order to integrate better into the world economy. Russia’s new strategy especially after the establishment of the EurAsEC and its perception of regionalism, especially in the context of EurAsEC, is an important issue. This is valid not only for the specific analysis of the current concept of regionalism; but also for identifying the key variables of both the new international order and the changing character of new inter-state relations. With in this context, Russian foreign policies toward former Soviet republics in the areas of economy and energy have significant effects on the formation of a new world order. This article therefore aims at studying the attempts of the integration process within the EurAsEC that can be defined as a unique example combining both the process of old regionalism with the new one. Thus, EurAsEC is also worth analyzing not only for drawing inspiration from the EU; but also for being the only example declaring its ambition in its founding treaty of customs union to become a supranational integration process in the post-Soviet area.
Hope versus Reality: 20 Years of Economic Transition at the Turkish States of the Central Asia
Authors: Balcılar Mehmet
Published: December 2019

Twenty years passed now since the countries of the Central and East Europe (СEE) and the former Soviet Union (FSU) have begun the process of transformation from command to market economy and from one-party to a democratic rule. The transition process, at the beginning at least, started with very optimistic expectations in all countries. Transition is expected, as stated in the so-called ‘Washington Consensus’, create unprecedented growth and development. No one could envision failure and traps stuck the development and democracy. After 20 years, the transition economies clustered into different clusters and several development patterns have arisen along with countries that are trapped into almost no development. Among the clusters Turkic states of the Central Asia forms a unique cluster. This study makes a comprehensive attempt to analyze the development patters that have arisen along the way 20-year long. Experiences of 20 years are placed under the microscope to identify successes and failures with regards to both, theory and policy. We set a benchmark for success and successful transition and determine the key factors that have led to success or failure. In the light of the global crises, it easier to identify shortcomings of transition. Major conclusion arising from the study is that the original concept of the ‘Washington Consensus’ has failed to fulfill expectations of growth and development, the state of the art seems to be confusion.
Herbal Production in the Turkish Agricultural Sector
Authors: Durgun Özlem
Published: December 2019

Agricultural production depends on natural conditions. All the countries try to stabilize and increase the food supply for communities. For this reason, the agriculture sector, support policies analyzed and conducted well. In agricultural support policies, there are different objectives like raising farm incomes, production and productivity. In Turkey, agricultural is very important. Because certain part of the population of Turkey live in rural areas. There are agricultural activities. They support those living in urban areas, especially in times of crisis. People living in rural areas, as well as food and labor force ready for those living in urban areas. In 2001 is an important milestone in Turkish agricultural policies. Before 2001, agricultural support policies consisted of mainly market price support, credit support and input subsidies. New policies started to be implemented after 2001. The purpose of this study was to determine the level of success in the new agricultural support policies in the context of the agreement with the European Union. We tried to find the best way to deal with the current main problems of Turkish Agricultural Sector in last year's.
Some Analytical Aspects of Business Integration
Authors: Ivanyuk Tatyana , Aryshev Vasiliy
Published: December 2019

A success of any business activity is depending on the level of the business competition to a large extent. Not every firm can properly retain its positions in the stiff competitive environment. The changes in the external business environment may induce the reorganization of the business in the form of company integration. There are also integration process in the Kazakh economy. However, despite high activity of integration processes in the business, they are not quite effective. This is primarily associated with the fact that integration processes are characterized by complexity of internal mechanisms, irrespective of the type of business amalgamation. The strategy of business amalgamation must be based on the data of thorough economic analysis. Given a complex nature of transactions in various types of amalgamation as well as a high risk level determined by uncertainty associated with the strategic decision-making, such system of indicators should be built as complex multi-tier structure excluding the possibility for unification. Each individual case of amalgamation is characterized by a unique set of factors influencing the conditions in which the integration process is performed. However, one may outline such indicators that are mandatory but are not always sufficient to substantiate the management decision-making about the appropriateness of the integration process, its feasibility, the degree of risk and the extent to which such amalgamation is efficient. A proper buildup of a complex system of indicators would allow giving a realistic assessment of economic practicability of the integration process and determining the level of its efficiency.
Industrialization of the Kyrgyz Republic and Economic Growth
Authors: Ermekbaeva Saule
Published: December 2019

Transition to the market relations negatively affected the industries economy of the Kirghiz Republic. The economic crisis, in the first years of independence of the Kirghiz Republic, caused the main loss to industrial production. Kirghizstan from the agrarian-industrial country turned into country producing the raw-material. Now after long and difficult years of transformation of the Kirghiz economic system it is important to analyze tendencies and particularities of her economic development. In this article was done such an attempt the special attention was given to questions of development of industrial sector of economy of the Kirghiz republic and objective reasons constraining growth of economy of Kirghizstan.
Food Security is one of the Most Important Conditions for Economic Development
Authors: Nazarmatova Kasira , Ermekbaeva Saule
Published: December 2019

Food security is one of the most important aspects of socio-economic development in Kyrgyzstan. Therefore, studies done in this field of research are of significant theoretical and practical interest. Resolutions of food security issues are one of the conditions for the preservation of state sovereignty, economic security and social stability in society, ultimately, national security. Food safety is important, in terms of strategic interests of the country, and its solution requires: to satisfy public demand for food products; providing industry with raw materials of local manufacture; preservation of social, political and social stability in society; to prevent dependency of the national economy on changes; conditions related to the world markets, the development of internal agricultural production, food and processing industry; neutralization of some import to ensure stable employment and income in rural areas; preservation of ethnic - national characteristics of the local population by creating opportunities for 'survival' of the village: prevention of major foreign exchange expenditure on food imports: the neutralization of the negative impact on the local food market crises in foreign countries - exporters and importers of food products.
System of the Relations of a Property and its Importance for Economy Development
Authors: Kudaikulov Marat
Published: December 2019

According to recommendations within the Washington consensus which for successful transition from planned methods of managing in the Post-Soviet countries to market economy assumes formation of a class of owners for what actions for privatization of state ownership were recommended. But research carried out by the author of article shows that importance of the property rights to means of production fades into the background in relation to economy operating conditions. For development of market economy not important who is the legal owner of means of production, and the next moment is important: between whom the received income is distributed when using these means of production i.e. who is the economic owner of these means of production. Ideal conditions for healthy functioning of economy are under construction on interest in increase in the income and its complete display for further distribution through tax system that we and observe in the developed economy. It follows from this that the importance of the property rights to means of production in works of classics of a scientific socialism was overestimated that formed in turn the basis for incorrect counteractions within the Washington consensus.
Only the Correct Policy will Return Trust
Authors: Koychuev Turar , Koichueva Merim
Published: December 2019

The given paper analyzes and assesses the socio-economic development of the Kyrgyz Republic in period of 22 years. The objects of attention were the problems of market economy, social problems such as poverty, unemployment, internal and external labor migration, issues of active economic policy and its unconditional implementation. The results, obtained from the critical analysis, allow giving recommendations to include in the policy renovation and development components and achieve stable and sustainable growth in economy to ensure an increase in its scale and efficiency.
The Influence of Corporate Governance Mechanism to Earnings Management on Indonesia and China Industrial Banking
Authors: Suhendra Euphrasia Susy , Tri Wardani Dini
Published: December 2019

The goal of this research is to evaluate the influence of managerial ownership structure, independent board of commissioners proportion, independent commissioner size, and audit committee size on earnings management in banking industry in China and Indonesia. The data used is secondary data with discretionary accrual as earnings management proxy. Data is processed and analyzed by independent samples t-test and multiple linear regression The results of this research show that there is a difference between earnings management, managerial ownership structure, proportion independent board of commissioners, board of commissioners size in banking industry in Indonesia and China, however there is no difference between Audit Committee size. The variable of managerial ownership structure in Indonesian’s banking industry is negatively significant influence on earnings management, whereas in China has no influence. The variable of independent board of commissioners proportion in banking industry in Indonesia has no influence on earnings management, while negatively significant influence on China’s. The variable of Board of Commissioners size in Indonesia banking industry positively significant influence on earnings management, while negatively significant influence in China. Then, the variable of Audit Committee size in Indonesia banking industry negatively significant influence on earnings management, whereas positively significant influence in China.
Volatility in Tourist Inflows: Evidence from Turkey
Authors: Karagöz Kadir
Published: December 2019

Tourism sector, like most of the other countries of the world, has also gained importance in Turkey in last few decades. Global tourist flows and tourism income have a steady increase. Hence, as an effective tool for sustainable economic development and welfare, importance of tourism sector is rising. Tourism is a considerable source of an additional income, exchange, employment and tax revenue for most countries. Turkey is one of the prominent tourism destinations for the world tourist flows. Turkish tourism industry began to grow in 1980s with the incentive macroeconomic policies. The industry has been growing in terms of international tourist arrivals and tourism receipts despite some discouraging events, such as economics crisis in the source countries, changing concerns, political incidents etc. For a sustainably growing and productive tourism sector it is essential to reduce the volatility in tourist arrivals. A less volatile tourist inflow may help to policy and decision makers. So, understanding the volatility of demand can reduce the uncertainty and help to develop appropriate policies. This paper aims to conduct such an analysis for Turkey’s inbound tourist flow, using the monthly data for 1996-2011 period. Exploiting alternative modeling techniques to measure and investigate the volatility in international tourist arrivals, the study concluded that the volatility of tourist arrivals to Turkey is asymmetric: positive shocks have a differential impact on future volatility than negative shocks.
Investigation of the Reliability and Validity of Attitude Scale on Labor Force Participation of Women with a Structral Equation Model
Authors: Karaca Erol
Published: December 2019

This study is designed to find out the relationship between labour force participation of women, internal and external factors that limiting to their labour force participation and negatives of working. This research was carried out with 900 women between the ages of 15-64, living in Eskişehir. The data was collected through “Attitude Scale on Labor Force Participation of women” developed by researchers. These data were analyzed with Second Order Confirmatory Factor Analysis by using the statistical package LISREL. The findings from the study revealed that the scale was valid and reliable and that internal factors and external factors that limiting to their labour force participation and negatives of working affect directly labour force participation of women.
Inflation Targeting Approach: An Evaluation of the Application Process in Turkey
Authors: Öztürk Serdar , Sözdemir Ali , Ülger Özlem
Published: December 2019

As a result of many countries don’t provide the achievement as regards the satisfaction of the price stability between 1970 and 1990, the other targets and the stability programs aimed at these targets were put away and price stability as a point target was put forward in this process. In this context, inflation targeting approach has been formed as providing price stability and the fight against the inflation after 1990s. The first application of inflation targeting approach by the New Zealand in 1990 affected The Central Bank of Republic of Turkey (CBRT), because of positive impacts on many countries such as developing and developed countries. The results of Inflation targeting approach that has been applied by many countries following New Zealand's experience are positive. Thus, CBRT explained to take place inflation targeting of the point target in monetary policy at the beginning of 2002. Because Turkey don’t provide with the application set of the preconditions for this approach, CBRT decided to remove the elements that is restricting monetary policy and carried into practice "the implicit inflation targeting" until meeting this conditions. In the process of implicit inflation targeting approach, after the conditions related technical infrastructure was improved a new opinion, The CBRT announced to practice "the explicit inflation targeting" approach by the beginning of 2006.
Political Economy of Russia’s Voting Power on Eurasian Countries
Authors: Haydaroğlu Ceyhun
Published: December 2019

The relationship between economy and politics shows itself explicitly while governments are determining and implementing national and international economic policies. In democratic societies voting power, which means that economical and political units uses against one another in decision making mechanisms, shapes stability and/or unstability. It can be explained that a government, which is structured by the sovereignty of a single party in a parlament, has a monopoly power. Putin, has an important voting power in both The Council of The Federation and State Duma. The confidence through this voting power, while national economic and political equlibrium is provided, in international context, stable and strong policies are followed. Russia, increases the pressure and makes its economical and political power apperant on the eurasian countries, especially which were under its’ authority before. In this context Russia’s voting power calculated seperately for all election periods by Normalized Banzhaf Index. According to this, the effect of today’s Russia’s dominance on the Eurasian countries has been analyzed within the boundaries of political economics dicipline. In consequence of the analysis; it is indicated that, there is a linear relationship between the Russia’s voting power and economical stability, and Russia’s efficieny on the eurasian countries gradually increases. The most important feature of this study, which makes it differentiated form others, is making political economy of Russia’s efficiency on the eurasian countries within the context of political economics literatüre by the voting power perspective, besides cultural, historical and social factors.
Destructive mid- and long-term Side Effect of the Crisis: Rising Protectionism
Authors: Durusoy Serap
Published: December 2019

Finance based crisis with its effect felt in the second quarter of 2007 has acquired global characteristics, and taken held of many countries. Global crisis not only has worn down constructive opinions regarding global capitalism, which played an important role in shaping the 20 th, but it has also discredited market economies. Thus, in many countries, including the United States of America, public rescue package implementations have lead to more desirable state interventions.On the other hand, economic activities in the global arena following the crisis slowed down and it became more difficult for financial structures to exist, and reduction in global trade movements were observed.This situation has lead for countries to include protective policies against the crisis as well. In study, protective studies will be addresssed, which wear down the globalization acting as a descriptive property of both experimental and normative reality in the definition of the process we are currently experiencing. As the economic problems gradually increase, the kind of shapes trade constrictions and protective instincts illustrate themselves and possible results of this will be examined on a country basis (EURASİAN, USA, EU, OECD). Expecially, it will be examined whether protectionism is the right solition policy against the crisis on not, and then the degree of the effect of this policy in the drop experienced in the recent months in international trade will be addressed. Lastly, the type of measurements taken in the international arena regarding protectionism and suficiently of the measurements will be assessed.
The Position of Women in Economic Life: A Comparison between Transition Economies and Turkey
Authors: Gökçek Karaca Nuray
Published: December 2019

In this study, the participation of women in economic life, in other words their position in economic activity in Turkey was examined in comparison with the Central and Eastern Europe (CEE) countries and the Commonwealth of Independent States (CIS). To examine women’s participation in economic life in Turkey in comparison with transition economies, we benefited from the Gender Empowerment Measure (GEM), which was developed by the UNDP the participation of women in economic activity in Turkey is low extremely. The factors that reduce the participation in the workforce by women in Turkey are traditional division of work, economic development, level of education, unpaid family work, informal employment, legal regulation, discrimination, work/non-work preferences. The participation of women in economic activity is also low in transition economies. But transition economies is not homogenous in terms of participation of women in economic activities. Results also indicate that, the participation of women in economic activity in the Central and Eastern Europe (CEE) is higher than the participation of women in economic activity in the Commonwealth of Independent States (CIS).
The Effect of Human Capital Improvments via Educational and Health Care Infrastructure Investments on Regional Income: The Case of Turkey
Authors: Kara Mehmet Akif , Ada Serkan , Yeşil Salih
Published: December 2019

Public education and health care infrastructure spending positively affect regional economic performance and develop regional competitive position through increasing workforce efficiency. While this type of investment is viewed as investment toward developing human capital, development of human capital stock may determine innovative forms of economies and technological applications, which can also be spilled over via human capital. Because of this, region wide educational and health care infrastructure spending aimed towards development of human capital can provide an increase in regional income and welfare. This study, aiming to identify effect of educational and health care infrastructure spending on development of human capital at regional level in Turkey, used regional data 2004-2008 Level-2. According to results obtained from the panel data fixed effect method, this type of spending can influence regional income. At regional level, the greatest positive effect has been observed in West Marmara region, the smallest effect was realized in Northeast Anatolian Region.
Economy and National Security
Authors: Kurtoğlu Ramazan
Published: December 2019

After the Great Depression in 1929, “economic security” which was in litterateur after World War II developed and in Cold War period it gained a meaning with neoliberalism which was put into effect with 1978 Washington Consensus. During this period, Soviet Bloc collapsed in early 1990s and a new term emerged in New World Order which is “economic security” equals “national security” or vice versa. Now, these two terms interwined and with a religion – politics philosophy – finance / economics formatted transformation international political economy – mapping and security terms filled.
The Causes of Electricity Theft: An Econometric Analysis for the Case of Turkey
Authors: Yurtseven Çağlar
Published: December 2019

Every year, especially in developing countries, electricity theft causes billions of dollars of loss. Since the consumers who pay their bills legally, bear the burden of this loss, it disturbs the social justice. In addition by affecting the investment decisions, it distorts the economic growth hence the future of the nations as well. Authorities try to prevent electricity theft with different engineering techniques and devices designed especially for detecting purposes. However, there are ways to prevent this behavior before it took place. For this reason, energy theft equation is estimated with different techniques to understand the socio-economic background of this illegal behavior. Education, income and political ideologies are found to be the important electricity theft determinants. Policy suggestions, to prevent this illegal behavior before it took place, are discussed.
Transition Process: Russia and Ukraine Case
Authors: Ballı Esra , Tekeoğlu Muammer
Published: December 2019

This study analyses how real GDP growth, inflation, employment, foreign direct investment inflow and income equality for Russia and Ukraine changed during the process of economic transition from 1991 to 2011. Most opinions agree that initial conditions and economic situation of a country, natural resources, historical background and institutions affect the process of economic transition. We see that both Russia and Ukraine experienced a transitional recession in the early 1990s at the start of the transition and an increase in the inflation rate. The Gini indexes of Russia and Ukraine have increased dramatically. The unemployment also went up in both countries until 1999s and reached a peak 13% during the 1998 Russian crisis in Russia. The growth rates of both countries were below 1% until 1997-1998, although it started to increase, after 2000, it decreased sharply in 2008 because of the Global Economic Crisis experienced the same year.
The Work Accidents and Occupational Diseases in Turkey and Its Place in the Social Security System
Authors: Baybora Dilek
Published: December 2019

The work accidents and occupational diseases are very important especially in the industrializing countries. According to the International Labour Organization (ILO) every 15 seconds, a worker dies from a work-related accident or disease. Every 15 seconds, 160 workers have a work-related accident. Every day, 6.300 people die as a result of occupational accidents or work-related diseases–more than 2,3 million deaths per year. The economic burden of poor occupational safety and health practices is estimated at 4 per cent of global Gross Domestic Product each year. In Turkey, work accidents’ figures are very high but occupational diseases’ figures are not very high. There are several causes of this condition. In Turkey, the Work Accidents, Occupational Diseases and Maternity Act No. 4772 was accepted in 1947. The Social Security and General Health Insurance Act No.5510 was accepted in 2006. There are regulations about the work accident and occupational disease insurance in the Act. According to the Act, insured and the rights holders can obtain some assistance.
Effects of Health Sector Information Asymmetry on Patient Satisfaction: An Appilication on Yalova Oral and Dental Care Centre
Authors: Özcan Selami , Baş Kerim , Taş H. Yunus
Published: December 2019

Effects of excessive information level difference between providers and receivers of health care services on patients will be presented with this work. Fundamental concepts like health care service, information asymmetry and it’s effects will be explained. Information levels of attempts and treatments that were put in practice to the patients, surgical operations and billing will be studied and the outputs of the information level difference between the provider and the receiver will be determined. In this research, it will be revealed if the practical applications and the concepts in the literature overlap each other and developing a new method towards evaluating the information level difference will be attempted. Patients who received a certain number of treatments will be targeted. Survey questions that will be asked to the patients will try to reveal the amount of information on the procedure they have undertaken and the between this level of information and the their satisfaction. SPSS software is used for the analysis of the data. Resolving of the relation between patient satisfaction themeasured percentage of level of information about the procedure the subject have undertaken will be attempted during the evaluation of the survey results. The effects of gender, age and education on level of information-customer satisfaction will also be investigated while determining the patients level of information with this survey.
The Effects of Exchange Rates on Macroeconomic Variables: A Study of the Selected Emerging Economies
Authors: Cambazoğlu Birgül , Karaalp Orhan Hacer Simay , Vergos Konstantinos
Published: December 2019

The exchange rate channel of the monetary transmission mechanism has gained importance through widespread use of the floating exchange rate regime with increased globalization. In this context, this study aims to explore the effectiveness of the exchange rate channel on net exports and thereby total output and price level using vector auto-regression (VAR) models. The sample countries are Turkey and Argentina, which have employed a floating exchange rate regime since 22 February 2001 and 11 February 2002, respectively. The monthly data set consists of five macro-economic variables, which are short-term interest rates, the real effective exchange rate, net exports, the consumer price index, and the industrial production index for the period 2003 to 2010. The impulse-response function outcomes indicate that the operation of the exchange rate channel is effective, both in Turkey and in Argentina.
The Role of Army-University-Industry Cooperation in Economic Development
Authors: Uysal Özgür , Kök Recep
Published: December 2019

The cooperation between the different institutions in an economic system, is one of the elements that contributes to the development of the economic system. The main purpose of this study is to analyze the main determinants of growth rate of the defense industry based patent production as a concretized indicator of the information economics, in order to determine in which ways the army-university-industry cooperation will contribute to economic development. In this study, generated basic and derivative hypotheses were tested using panel data method on NATO countries and were developed an econometric model to provide and improve the army-university-industry cooperation. The contribution of the army-university-industry cooperation to economic development have been revealed with a model proposal. According to the results of analysis, the basic dynamics that determined the growth rate of patent production resulting from army-university-industry cooperation are the share of technological progress of army on national income received by the army, the share of university R&D expenditures in total R&D expenditure and technological gap levels of the countries. It’s observed that any reduction in technological gap levels of the countries or any increase in military-oriented technological progress or the share of university R&D expenditures in total R&D expenditure increases the growth rate of patent production resulting from the army-university-industry cooperation.
The Internal Innovation Processes in Kazakhstan
Authors: Samambayeva Aizhan , Fernandez-Grela Manuel
Published: December 2019

To evaluate the internal innovation processes in Kazakhstan, the paper involves two pieces of empirical research. In the first piece, the main drivers of innovation performance are identified based on regression analysis. The literature suggests three factors affecting innovation activities of firms, namely foreign direct investments, research and development investments, and international trade. In order to test this theoretical framework, a probit regression analysis is carried on to estimate the determinants of innovation performance in Kazakhstan. The chapter makes use of firm level data from the Kazakhstan Enterprise Survey 2009, conducted by The World Bank. The results are supplemented by descriptive analysis. The second piece deals with the examination of multi-level relationships between business organizations and innovation. The literature distinguishes between two modes of learning and innovation, based on the distinction between implicit and explicit knowledge. Promotion of R&D and codification of innovation process are the main features of the Science, Technology, and Innovation mode of innovation. On the other hand, the Doing, Using, and Interacting mode of innovation is based on learning by doing. In order to discern which of these is the main innovation mode adopted by firms within the EKMC, a survey was conducted among them in the period from November 2011 to January 2012.
Water Cooperation in Central Asia and Competition for Regional Dominance
Authors: Kurkova Dina
Published: December 2019

This article examines the water related problem in the context of contemporary security relation in Central Asia. The competition for regional dominance has developed in Central Asia for the last decade. The water-related problems are likely to increase tensions in the region, even to begin the wars over water. In this article the author explains why water-related problems in Central Asia can’t be solved in medium-term perspective. Global hegemon, the USA, regional hegemons, Russia and China, and regional hegemon challengers, Uzbekistan and Kazakhstan, use fresh water as a weapon to pressure each other. Given the fact that the interaction between these states concerns question not just of water cooperation but also of balance of political, military and economic dominance, the author assumes that the water-related problem in Central Asia can be understood as one tool in hegemonic completion.
On the Source of Macroeconomic Fluctuations in the Middle Eastern and North African Countries: A Structural Vector Autoregression Analysis
Authors: Tören Evrim
Published: December 2019

This study investigates the relative importance of various shocks in accounting for output fluctuations in the Middle East and North Africa (MENA) countries. The macroeconomic shocks are decomposed into country-specific, regional, and global sources by using a small open economy structural vector autoregression (SVAR) model. In order to explain output volatility in Middle East and North Africa, the relative importance of each shock in 15 MENA countries is identified in this study. The results show that country-specific factors account for most of the output volatility in the region. For less than half of the countries in the region, global shocks play a significant role in explaining output volatility. Contrary to some findings in the empirical literature, especially on Sub-Saharan Africa, the regional factor does not seem to have a statistically significant impact in any of the countries under consideration. The results are uniform and no statistically significant difference is observed for the countries in the MENA region. Furthermore, oil-exporting and oil-poor countries in the sample do not show any noticeable difference.
A Summary of the Developments Regarding the Economic Regime Implemented in Developed and Developing Countries
Authors: Hiç Özlen
Published: December 2019

Since the developments regarding the economic regime in developed countries follow a different path as opposed to those in developing countries, in this article, these two groups of countries will be examined separately. Priority will be given to investigating the economic regime in developed countries due to historical and theoretical reasons. Today, both in developed and developing countries the economic activities basically are taken up by the private sector; nevertheless the government contributes to these activities through intervention, guidance, protectionism, and investment. Still the level of government intervention, protection and public investments in developed countries appears to be at the minimum. The role of government in developing countries, on the other hand, seems to be more significant; the gravity of the government’s role depends on the degree of development for the countries concerned. In the countries where the level of development is low, the role of government increases, that is to say, the improvement in development decreases the role government.
Competition Policy and Competition Law in Turkey and Russia
Authors: Göktepe Hülya
Published: December 2019

Competition law provides the formation and protection of free competition. Modern market economy is the basis of the principle of free competition. Free competition provides an effective utilization of resources, price goes down, saving to reduce costs, find new technologies and their use in production. Desired markets, although a perfect competition market, because of market failures rather than the ideal situation monopolies, cartels can occur. At this stage, competition policies become important because they provide an efficient resource allocation, and constitutes an important element in raising the level of social welfare. Competition law is state intervention tool in order to establish and maintain free competition in the economy. Competition laws is seen as the constitution of the economy. In Russia, first competition authority was created in 1990 and the Law “On Competiton and Ristriction of Monopolistic Activity on Goods Markets” passed in 1991. After the OECD Peer Rewiew Report on Russia’s Competition Policy and Law, competition authority was abolished, new Federal Antimonopoly Service (FAS) established in 2004. Also new competition law passed in 2006. In Turkey, competition law passed in 1994, Turkish Competiton Authority was established in 1997. The aim of this study is to analyze competition law rules is implemented in Turkey and Russia. Also Examples of decisions issued by the Turkish competition authority and FAS Russia will be presented.
The Relationship between Energy Consumption and Growth in the Transition Economies of Central Asian Republics
Authors: Özdemir Abdullah , Mercan Mehmet , Dendeş Erkan
Published: December 2019

The transition period from the socialist system to the capitalist system is used to describe economies in transition. With the dissolution of the Soviet Union in the 1990s, with Central and Eastern European Countries, the Countries in Central Asia have entered into this process. Central Asian Countries haven’t entered into this process providently a lot in transitional stage. At the end of secession process from the Soviet Union, these countries had only limited industrial plants and natural resources. However, reserves of energy resources that these countries have in their economic growth have been a pusher factor. No doubt, increasing energy consumption has a significant effect in the development of the countries. The main purpose of this study is to test the existence of growth relation and energy consumptions in Central Asian Countries that live the transition period accordingly. This study investigates relationship between economic growth and energy consumption for Central Asian Countries over the period 1990-2010 by using panel data analysis. As a conclusion it is reached that there is a significant correlation between energy consumption and economic growth for these countries.
Evolution of Comovement between Commodity Futures: Do Biofuels Matter?
Authors: Dedeoğlu Dinçer
Published: December 2019

In this study we investigate the commodity futures linkages for the period 1988:M1-2012:M4. We use monthly futures prices for nine commodities. We employ wavelet analysis to investigate the comovement of commodity futures. By using wavelet based measure of correlation we investigate correlation between commodity futures in both time and frequency domain. The results indicate that correlations are low for short, medium and long-run. We also find evidence of a tendency towards an increase in correlations after 2008. This can be the result of the global crises which has an effect on feedstock costs and the price of energy inputs by putting front a channel through biofuels that links energy and agricultural commodities by increasing the correlation between these commodities after 2008.
Effects of Russia’s Economic Growth on Turkey’s Tourism Sector
Authors: Şahin Levent , Akça Hasan
Published: December 2019

The aim of this study is to analyse whether there is a relation between economic growth in Russia and Turkey’s tourism sector or not. Data (GDP in Russia and Russian tourists who prefer Turkey as tourist destination) cover the period 2001-2011. According to results of regression analysis, there is no effect of GDP increase in Russia on number of Russian tourists visiting Turkey. It can be said that most of the Russian tourists visiting Turkey have medium income level. They prefer Turkey due to cheap holiday opportunity (everything inclusive system), closer to Russia and qualitative service. Russian tourists having high income level travel to Far East Countries for holiday.
The Long Memory Characteristics of Inflation in Turkey and Analysis of Inflation Persistence
Authors: Kurul Zühal , Sezer Pınar
Published: December 2019

The aim of this paper is to illustrate the long memory characteristics of the Turkish inflation rates and to analyze the potential inflation persistence. Our empirical analysis is carried out for inflation series of Turkey during the period of 1980-2013. We used the Autoregressive Fractionally Integrated Moving Average (ARFIMA) model and find that inflation in Turkey has long memory properties when structural breaks are not taken into account. When structural changes are considered, the long memory properties show different and ambiguous results. The exogenously identified structural changes have altered the dynamic structure of the inflation process and weakened the long memory characteristics of the series.
The Relationship between Public Expenditure and Bureaucratic Quality: The Case of Eurasian Economies
Authors: Dökmen Gökhan , Sezer Özcan
Published: December 2019

One of the controversial issues among researchers in the field of public finance is estimating the determinants of public expenditures. It’s argued that public expenditure is determined by economic as well as demographic, social and political variables. One of the important element of political variables is bureaucracy. If bureaucracy, as one of the main actors of political decision making process, works in quality, effectiveness and efficiency would occur in publicly provided goods and services. In parallel with the good quality of bureaucracy, the size of state would become smaller. The purpose of this study is to test empirically between efficient bureaucracy and public expenditure, using dynamic panel data analysis of 6 Eurasian Economic Community countries from 1998 to 2011. This study finds evidence that existence of bureaucratic quality reduces the public expenditures.
Prospects for a Common Economic Union
Authors: Pirimbaev Jusup , Kamalova Anara
Published: December 2019

This article discusses the current situation and the future of the integration process of the CIS countries. The main problems include a small number of active participating countries and regional imbalance distribution of productive forces. In this regard, all members of the Eurasian union must understand that the implementation of the idea of "union" is unattainable within the currently existing members only. The main issues in the integration - it is a professional job in order to protect the interests of the majority of the residents of the participating countries that will awaken a general interest in the idea of the Union.
The Consumption Expenditure of Households in Turkey: Demand System Estimation with Pseudo Panel Data
Authors: Şengül Seda , Sigeze Çiler
Published: December 2019

In this study, micro data sets obtained by 2005 and 2009 Household Budget Surveys compiled by Turkish Statistical Institute were used to estimate the parameters of household consumption demand and calculate the income-demand elasticities of consumer goods. Total expenditures of the households in this data set delivered into the following 12 different categories of goods and services. The expenditure share of these different categories of goods and services is the dependent variable of this model. In addition, the total household expenditure, the squared total household expenditure, the household size adjusted in accordance with the OECD equivalence scale and the logarithms of squared household size are the independent variables used in the study. The Seemingly Unrelated Regression Equations (SURE) is used to estimate the Quadratic Almost Ideal Demand System (QAIDS) so as to determine the demand parameters of the main commodity groups. The principal result of the study is that the consumption elasticities of the food and nonalcoholic beverages, housing, water, electricity, fuel, clothing and footwear, furniture and house appliances, communications, alcoholic beverages, cigarette and tobacco expenditure are less than 1. Therefore, it can be said that these commodity groups are considered to be mandatory goods. On the other hand, the consumption elasticities of the health, transportation, education services, entertainment and culture, restaurants, hotels, patisseries are more than 1. Thus, these commodity groups are considered to be luxury goods. In this regard, the study concludes that Turkey is considered to be a developing country in terms of the consumption characteristics.
The Effects of Exchange Rate Volatility, Reserve Volatility and Real Interest Rates on Trade: Applications on Transition Economies
Authors: Gerni Cevat , Sarı Selahattin , Özdemir Dilek , Emsen Ömer Selçuk
Published: December 2019

On the basis of volatility or sharp fluctuations in macroeconomic variables, especially in the 1970s, it can be said to play a role in deepening the financial capital deepening. Deepening on volatility forms the basis of not only domestic and but also international economic deviations. With the collapse of the Eastern Bloc, a lot of countries have attempted to liberalize. This situation has caused volatility on mainly rate of exchange then many macroeconomics variables. In this aspect, the multi-relationship between volatility in foreign trade balance and the real interest rate, exchange rate and reserves’ volatility are investigated empirically with the appropriate set of data on 11 transition economies for the period 1996-2011. In this study, the effects of the volatility of foreign trade (netxvol) on the exchange rate volatility (kurvol), reserve volatility (rezvol), and real interest rates subjected with using panel data analysis. Moreover to regression analysis, centred on Granger Causality Test the volatility of the foreign trade balance, import and export volatility, exchange rate volatility, volatility of reserves and try to determine the causal relationship between the real interest rate. The findings have light on that the volatility of trade balance was mostly affected to the volatility of the reserve. It may well be said that the volatility of the interest rate and the exchange rate at the independence of the trade predispose to speculative movements.