Browsing by Author "Erünlü, Zeynep"

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A Post - Keynesian Analysis of The Greek Crisis
(2018) Erünlü, Zeynep; Güneri, Barbaros
The purpose of this study is to analyze the causes of the Greece debt crisis and discuss about possible solutions for the Greek economy in Post - Keynesian perspective. In this framework, first, the establishment and evolution of the European Monetary Union will be briefly examined. Second, the effects of the monetary union on the Greek economy will be discussed. Then, the remedies for the crisis along with the measures taken within the scope of the rescue package adopted will be examined from a Post Keynesian perspective. At this point, Hyman Minsky’s Financial Instability Hypothesis and Michal Kalecki’s profit function will be used to analyze the reasons behind the crisis. Last but not least, Employer of the Last Resort Programme, which can be summarized as a program where the government takes into employment of anyone who is willing and able to work, will be discussed as a cure for the recovery.
Do Depreciations Really Trigger an Inflow of Foreign Direct Investment? The Case of Turkey
(Sosyo Ekonomi Soc, 2018) Erünlü, Zeynep
In this study, the relationship between real exchange rate and foreign direct investment is examined using the Logistic Smooth Transition - Autoregressive Distributed Lag (LST-ARDL) model. Analyzing the effect of real exchange rate changes on foreign direct investment is very crucial for a developing country like Turkey which has a relatively large foreign debt stock. The estimation results show that foreign direct investment inflows to Turkey increase when Turkish Lira appreciates against the US dollar and this effect is especially strong during periods of high investment inflows. Thus, for Turkey to attract productive capital flows rather than unstable short-term portfolio flows it has to maintain a strong currency against the US dollar.
The Effects of Trade Liberalization and Export Diversification on Unemployment: An Empirical Analysis
(2020) Güneri, Barbaros; Erünlü, Zeynep
This study investigates the effects of trade liberalization and export diversification on unemployment rate for a group of OECD countries for the period between 1991 and 2014. Using several liberalization and export diversification indices as well as various control variables, the results of the empirical analysis show that as countries engage more in international trade and diversify their export baskets, unemployment rate decreases. Thus, it can be argued that OECD countries should follow policies that are in favor of trade liberalization rather than protectionism. Moreover, diversification of export baskets instead of specialization is of great importance in decreasing the unemployment rate.
Yunanistan Krizinin Post-Keynesyen Analizi
(2018) Güneri, Barbaros; Erünlü, Zeynep
Bu çalışmanın amacı Yunanistan borç krizinin nedenlerini analiz etmek ve Yunanistan ekonomisi icin olası çözüm önerilerini Post - Keynesyen bir bakış açısıyla incelemektir. Bu çerçevede, ilk olarak, Avrupa Para Birliği’nin kuruluşu ve gelişimi incelenecektir. İkinci olarak, para birliğinin Yunanistan ekonomisi üzerine olan etkileri irdelenecektir. Daha sonra, krizin ardından öne sürülen kurtarma paketi kapsaminda alınan tedbirler dahilinde, kriz için olası çözümler Post-Keynesyen bir bakış açısıyla incelenecektir. Bu noktada, Hyman Minsky’nin finansal istikrarsızlık hipotezi ve de Michal Kalecki’nin kar fonksiyonundan yararlanılarak, krizin nedenleri analiz edilecektir. Son olarak, devletin çalışmaya istekli ve de çalışabilecek durumda olan herkese iş olanağı sağlaması anlamına gelen devletin nihai işveren olma rolü, ekonomik toparlanma için bir çözüm önerisi olarak tartışılacaktır.