Uluslararası Ticaret Bölümü

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At the Convergence of Energy Corridors: Energy Situation in Turkey and a Critical Evaluation With Porter's Model
(Igi Global, 2017) Gokmen, Aytac; Nakip, Mahir
Turkey is at the threshold of Eurasia connecting various energy corridors. It has an improving economic volume and is one of the 20 largest economies in the world. Energy and economic development are highly correlated. Turkey is dependent on imported energy. In order to keep up with the economic expansion, the energy requirements of Turkey must be met in a diversified, timely and reliable way. Thus, the aim of this paper is to define the geographic disposition of Turkey at the convergence of energy lines, review its energy situation comprehensively and make critical evaluations on energy and economy related issues, also with using the diamond model developed by Michael E. Porter resting on credible national and international publications and data.
Citation - WoS: 21
Citation - Scopus: 21
Business Groups and Internal Capital Markets
(Routledge Journals, Taylor & Francis Ltd, 2007) Gonenc, Halit; Kan, Ozgur B.; Karadagli, Ece C.
We compare the performance of firms affiliated with diversified business groups with the performance of unaffiliated firms in Turkey, all emerging market. We address the question of whether group-affiliated firms create internal capital markets or control large cash flows. Our findings indicate that group affiliation improves a firm accounting performance, but not stock market performance. Deviation of cash-flow rights front voting rights has a negative but insignificant effect on accounting performance, but a significant effect on market performance. We also find that a firm's accounting, but not stock market, performance increases with the level of group diversification. Our results show that internal capital markets play an important role for the existence of business groups in all emerging market context.
Citation - WoS: 1
Citation - Scopus: 1
Cointegration, Causality and the Transmission of Shocks Across Wheat Market in Pakistan
(Springer, 2009) Klasra, Mushtaq Ahmad
This paper uses quarterly price data and examines the transmission of shocks across different spatially separated locations besides identifying causality among these locations. Johansen and Juselius's (Econ. Stat., 52, 160-210, 1990) multivariate cointegration procedure identified two cointegrating vectors among these locations. Following Toda and Yamamoto (J. Econom., 66, 225-250, 1995), causality tests showed only one bi-directional causality and it was between Peshawar and Hyderabad locations. Faisalabad and Sargodha appeared independent (i.e. exogenous) market locations in price discovery process. Peshawar market showed maximum (i.e. 5) number of significant links. The generalized impulse response functions, though, suggested similar (cyclical) pattern of responses across the markets, but their time profile, which provides insight into the system's speed of convergence to long run equilibrium path, varied with different level of extent and persistency. Responses to shock originating in consumption markets (i.e. Karachi, Peshawar and Lahore) remained short lived; whereas the shocks stemming from surplus wheat producing locations (i.e Multan, Sargodha and Faisalabad) produced long and more persistent responses.
Citation - WoS: 37
Citation - Scopus: 46
Dynamic Linkages Between Renewable Energy, Carbon Emissions and Economic Growth Through Nonlinear Ardl Approach: Evidence From Iran
(Public Library Science, 2021) Karimi, M. S.; Ahmad, S.; Karamelikli, H.; Dinc, D. T.; Khan, Y. A.; Sabzehei, M. T.; Abbas, S. Z.
This study examines the relationship between economic growth, renewable energy consumption, and carbon emissions in Iran between 1975-2017, and the bounds testing approach to cointegration and the asymmetric method was used in this study. The results reveal that in the long run increase in renewable energy consumption and CO2 emissions causes an increase in real GDP per capita. Meanwhile, the decrease in renewable energy has the same effect, but GDP per capita reacts more strongly to the rise in renewable energy than the decline. Besides, in the long run, a reduction of CO2 emissions has an insignificant impact on GDP per capita. Furthermore, the results from asymmetric tests suggest that reducing CO2 emissions and renewable energy consumption do not have an essential role in decreasing growth in the short run. In contrast, an increase in renewable energy consumption and CO2 emissions do contribute to boosting the growth. These results may be attributable to the less renewable energy in the energy portfolio of Iran. Additionally, the coefficients on capital and labor are statistically significant, and we discuss the economic implications of the results and propose specific policy recommendations.
Dynamics of Wheat Prices in the Wake of Market Reforms: the Case of Pakistan
(Springer, 2006) Kiral, T; Klasra, MA
Using Autoregressive Conditional Heteroskedastic (ARCH) method, this paper examines the effects of market reforms on the distribution of real mean prices and their variability before and after reforms. It is found that market-oriented reforms benefited producers and consumers alike. Empirical evidences, generally, support theoretical assertion that mean prices decline in most urban areas and increase in those markets that are located in surplus producing areas. The results also showed that market reforms lead to more price volatility.
Citation - WoS: 6
Citation - Scopus: 10
The Effect of Knowledge Management, Technological Capability and Innovation on the Enterprise Performance: a Comprehensive Emperical Study of the Turkish Textile Sector
(World Scientific Publ Co Pte Ltd, 2011) Hamsioglu, Ahmet Bugra; Gokmen, Aytac
This study aims to analyse the correlation among enterprise performance, knowledge management, technological capability and innovation. The sample of the study comprised 96 textile enterprises among the 500 largest companies in Turkey. Among those 96 companies, 45 of them responded to the research proposal and 225 questionnaires were assessed. The data acquired was analysed with factor analysis, correlation analysis, regression analysis and descriptive analysis. As a result of the research, a high level and significant correlation among the variables was established and the positive effect of knowledge management and technological capability on innovation was detected. Moreover, innovation was found to have a positive effect on performance as well.
Citation - WoS: 3
Citation - Scopus: 4
An Empirical Survey of Consumer Ethnocentrism in Kazakhstan and the Preference of Consumers on Imported Products
(Ahmet Yesevi Univ, 2017) Nakip, Mahir; Nakip, Mahir; Gokmen, Aytac; Gökmen, Aytaç; Uluslararası Ticaret ve Finansman
The reality of globalization declines the frontiers for cross border international trade and investments as well as functions as a means to converge the consumer needs and expectations on a global base. The convergence of the expectations of consumers is considerably beneficial for international businesses in their international marketing activities. However, this issue does not realize in every country or regional market. Yet, consumer ethnocentrism is a profound obstacle for international businesses which emphasis nationalistic sentiments, pride and the rejection of any product or idea that is made in another country without any rationale reasoning. Thus, this study is aimed at researching the subject of consumer ethnocentrism in the Central Asian Turkish Republic of Kazakhstan. The results indicate that there is not a strong relation between ethnocentric perceptions and product necessity in Kazakhstan. Also, sub-dimensions of ethnocentrism have different correlation levels with each imported products. In addition, religious and moral values are not effective factors in explaining the variation in imported products.
Citation - WoS: 3
Citation - Scopus: 5
Et ve Balık Eti Hanehalkı Talebinin Mevsimselliği: Bir Kentsel Alan Örneği
(Tubitak Scientific & Technological Research Council Turkey, 2005) Klasra, Mushtaq Ahmad; Fidan, Halil
Bu çalışma, Almost Ideal Demand System (AIDS)'i kullanarak, farklı mevsimlerde et ve balık için hane halkı talebine etkili faktörlerin tahmininde çıkarımlarda bulunmaktadır. Anket verileri kullanılarak, bütçe payı, talebin fiyat elastikiyeti, çapraz elastikiyet ve balık ve et için harcamalar, eşitlikler sistemi ile tahmin edilmiştir. Özellikle, Kurban Bayramı dönemlerinde bütçe paylarında artış olması durumu et ve balık tüketiminin mevsimsel etkisini inceleyen bu çalışmanın temel sonucu olmuştur. Bunun ötesinde, kentsel alanda yaşayan insanlar, hamsi hariç, fiyat artışlarına karşı duyarlı oldukları bulunamamıştır. Bu çalışma, politika yapıcıları, üreticiler ve pazarlama uzmanlarının izleyecekleri politikalarda etkili kaynak kullanımlarının düzenlenmesine, bu sonuçların onlara yardımcı olabilmesi bakımından önemlidir.
Citation - WoS: 4
Citation - Scopus: 10
The Exchange Rate and the Trade Balances of Turkish Agriculture, Manufacturing and Mining
(Springer, 2008) Yazici, Mehmet
This paper investigates and compares the response to the exchange rate changes of trade balances of three Turkish sectors; agriculture, manufacturing and mining. The impact on trade balance of exchange rate changes is examined using the trade balance model employed in Bahmani-Oskooee [1985, Review of Economics and Statistics 67: 500]. Analysis is conducted based on the quarterly data from 1986: I to 1998: III. It is observed that in response to domestic currency depreciation trade balance of each of all three sectors first improves, then deteriorates and then improves again. Despite exhibiting similar pattern of reaction to the exchange rate change in the short run, long-run or overall response of trade balance differs across the sectors; while trade balances of both manufacturing and mining improve in the long run, agricultural trade balance worsens as a result of domestic-currency depreciation.
Citation - WoS: 67
Citation - Scopus: 83
Fdi Inflow as an International Business Operation by Mncs and Economic Growth: an Empirical Study on Turkey
(Elsevier Science Bv, 2014) Temiz, Dilek; Gokmen, Aytac
The issue of foreign direct investment (FDI) has been affecting the world economy for years and is a considerable subject for both developed and developing countries. FDI is the fixed form of international business operation made across the national borders made mostly by the multi national corporations (MNCs). The positive impact of FDI inflow in a host country is expected to emerge as capital accumulation, technology transfer, know-how acquisition, innovative capacity and economic growth eventually. In this study, it is aimed to address the FDI literature depending on comprehensive international publications and then to analyze the FDI inflow and GDP growth in Turkey with econometric methods. The relation between FDI inflow and GDP growth is analyzed by using the Johansen cointegration test and Granger causality analysis. Afterwards, a regression equation is estimated by using the ordinary least squares method (OLS). Prior to applying the Cointegration test, the stationarity and integration degrees of the series are determined by the augmented Dickey-Fuller test (ADF). Consequently, resting on the results of entire analysis, it is possible to mention that no significant relation is determined between the FDI inflow and GDP growth in Turkey both in the short and long run. (C) 2013 Elsevier Ltd. All rights reserved.
Citation - WoS: 1
Financial Market Segmentation: an Application on Islamic Financial Markets
(Journal Applied Economics & Business Research, 2017) Nakip, Mahir; Gökmen, Aytaç; Nakip, Mahir; Gokmen, Aytac; Mohammed, Salah Awad; Uluslararası Ticaret ve Finansman
Muslim world comprises of a considerable part of the earth's population and there are many Muslim states in the world. People who adopted the Islam religion have a distinctive understanding of life based on Al-Quran, Hadith and Sharia. Therefore, all the deeds of Muslims must be in accordance with the way of Islam and Sharia. Finance is an issue in which Sharia prevails. According to the principles of Sharia, conventional financial applications are not proper for Muslims. Therefore, certain financial instruments and regulations are implemented to comply with the rulings of Islam and Sharia. Moreover, the aim of this study is to analyze the financial markets in Muslim countries resting on dependable international resources such as macro economical and financial indicators, and segmenting them by using statistical methods as Cluster and Discriminant analysis. As a result, it is concluded that financial markets in Muslim countries can be segmented by using certain financial indicators. Yet, financial markets in Muslim countries cannot be segmented by using certain economic indicators but, these indicators can be used to discriminate the financial market segments.
Citation - WoS: 13
Citation - Scopus: 22
Gender Gap in Financial Inclusion: Evidence From Mena
(Univ Oviedo, 2019) Ozsuca, Ekin Ayse
This study aims to analyze the gender dimension of financial inclusion in MENA countries. Using the World Bank's 2017 Global Findex Database, it explores the underlying factors of gender differences in formal financial services usage via Fairlie decomposition method. The findings of the study indicate that a significant portion of the disparity in financial inclusion is attributable to employment, while age and tertiary education are also found as contributing factors to the financial inclusion gap. Another notable finding is that upper income quintiles contribute positively to the gender gap, indeed to a greater extent compared to lower income groups.
Citation - WoS: 13
Citation - Scopus: 15
Import-Content of Exports and J-Curve Effect
(Routledge Journals, Taylor & Francis Ltd, 2010) Yazici, Mehmet; Klasra, Mushtaq Ahmad
This article investigates how the response to devaluation of trade balance is affected, compared to J-curve hypothesis, by the presence of imported inputs in the production of exports. Using first the Almon lag technique and then the cointegration and the generalized impulse response function analysis, the J-curve effect is examined in two sectors of Turkish economy (manufacturing and mining), which use imported inputs at different rates. Based on the data covering the period from the first quarter of 1986 to the third quarter of 1998, our results indicate that in neither sector J-curve exists and that the violation of the J-curve effect is more severe in the sector with higher import content.
Citation - WoS: 7
Citation - Scopus: 9
The Importance and Impact of Fossil and Renewable Energy Sources in Turkey on Business and the Economy
(Taylor & Francis inc, 2015) Gokmen, A.; Temiz, D.
Turkey is rapidly growing in terms of both its economy and its population. In parallel, its demand for energy is increasing fast. Energy is one of Turkey's most important development priorities. Today, Turkey's economy is mainly dependent on oil, natural gas, coal, and electricity. Turkey's energy production meets only a part of its total energy consumption and thereby is an energy-importing country. On the other hand, Turkey has a large potential for renewable energies. The most important renewable sources for Turkey's energy sector are wind, biomass, hydro, solar and geothermal. Renewable energy sources respond to the process of the trio of energy, economy, and environment because, as a local source it has many positive effects on employment and provides momentum to the economy of the country. Turkey would have to commit to the development and implementation of renewable energy technologies and energy conservation. The implementation of renewable energy technologies would reduce the current national and global environmental problems as well as national energy insecurity associated with the production and use of fossil energies. Thus, the aim of this article is to present the energy situation and potential of the renewable energy sources in Turkey as well as associate these factors with the economy and business priorities.
Citation - WoS: 4
Citation - Scopus: 5
Is There a J-Curve Effect in Turkish Services
(Springer, 2010) Yazici, Mehmet
This paper explores the existence of the J-curve effect in Turkish services. The model of Bahmani-Oskooee (Rev Econ Stat 67:500-504, 1985), one of the most commonly employed model in the j-curve literature, is adopted. Using quarterly data from 1986: I to 1998: III, we find that, as a result of real depreciation of Turkish currency, YTL, services trade balance initially improves, then worsens and improves again in the short run. This is a pattern indicating that J-curve effect does not exist in Turkish services sector. We also find that depreciation of Turkish Lira improves the trade balance of the sector in the long run, a result consistent with earlier findings for the whole Turkish economy.
Citation - WoS: 5
Citation - Scopus: 6
Knowledge-Induced Technological Change a Study Involving the Automobile Innovation in Malaysia With Layers of Techniques
(Emerald Group Publishing Ltd, 2006) Azid, Toseef; Klasra, Mushtaq; Choudhury, Masudul
Purpose - To apply the Tawhidi epistemology in the automobile industry as the paradigm of the Islamic socio-scientific order in terms of its inherent knowledge-centered worldview. Design/methodology/approach - The concepts of unity and unification of knowledge in a system-wide sense are analytically developed in the framework of shuratic process or equivalently as the interactive, integrative and evolutionary process-oriented methodology (IIE). Findings - The analytical conceptualization is derived in the light of Qur'anic rules (ahkam) and recommended that policies, programs and instruments would jointly promote the development of mutual profitability and address the social milieu as well. Research limitations/implications - Tawhidi unification methodology of extensive participation and linkage can be applied widely. Originality/value - Certain policy recommendations in the light of the shari'ah precepts of this case study can be made.
Citation - WoS: 18
Citation - Scopus: 21
Monetary Policy Rules in Practice: Re-Examining the Case of Turkey
(Elsevier, 2008) Omay, Tolga; Hasanov, Muebariz
This paper investigates possible asymmetries in the monetary policy reaction function of the Central Bank of Republic of Turkey over the business cycles. It is found that the bank reacted more aggressively towards output stabilisation during recessions than expansions. The empirical evidence suggests that the inflation targeting policy of the Turkish Central Bank was accommodative rather than stabilising. Furthermore, it is found that although the Central Bank of Republic of Turkey responded to foreign reserves, real exchange rates and short-term capital inflows both in expansion and recession periods, the bank targeted money growth, budget deficits, and net foreign assets only in expansion periods. (c) 2008 Elsevier B.V. All rights reserved.
Citation - WoS: 8
Citation - Scopus: 9
The Relationship Between Inflation, Output Growth, and Their Uncertainties: Nonlinear Multivariate Garch-M Evidence
(Economics Bulletin, 2011) Omay, Tolga; Omay, Tolga; Çankaya Meslek Yüksekokulu
In this paper, we propose a nonlinear multivariate GARCH-M model. We have illustrated the actual modelling by applying the models to inflation and output growth variables and found that the effects of real and nominal uncertainties are regime-dependent.
Citation - WoS: 2
The Relationship Between Triple Deficit and Growth: The Case of Turkey
(Eskisehir Osmangazi Univ, Fac Education, 2015) Berke, Burcu; Temiz, Dilek; Temiz, Dilek; Karakurt, Eda; Uluslararası Ticaret ve Finansman
Macroeconomic equilibrium in an economy is provided by equalizing of internal and external economic balances. While internal economic balance consists of saving-investment balance of the private sector and the income-expenditure balance of the public sector (budget balance), the external economic balance is comprised of the current account balance. According to this equation, when both internal economic balances gave deficits, it is required that the current account balance is expected to give a deficit up to them. This situation is defined as "triple deficit". Triple deficits are generally a problem occurring in the economies trying to grow over the potential, in which there is an insufficient domestic savings. Therefore, it must have been examined the relationship between triple deficit and growth in Turkey. In this study, the effect of each component (balances) of the "triple deficit" hypothesis on growth are studied by VAR model during period of 2003Q2-2012Q4 in Turkey and it is found that these balances are the most explaining variables the growth.
Citation - WoS: 40
Citation - Scopus: 47
Renewable Energy Production, Energy Consumption and Sustainable Economic Growth in Turkey: a Vecm Approach
(Mdpi, 2019) Akdogan, Ece C.; Dinc, Dilek Temiz
There exists a highly interrelated relationship between energy, the environment and growth where the efficient management of this nexus is not only a must for sustainable development and human wellbeing but is also a basis for formulating sound economic policies harnessed with energy and environmental policies. Thus, this paper aims at investigating the causal relationships among renewable energy production, total energy consumption and economic growth for Turkey both in the long and short runs. The analyses are conducted by using the Johansen-Juselius co-integration test, the vector error correction model, Granger causality, impulse-response functions and variance decomposition for the period 1980-2016. Our findings obtained for the causal relationship between renewable energy and economic growth points to a bidirectional relationship both in the short and in long runs that promote feedback hypothesis, and it also reports a causal relationship running from energy consumption to economic growth both in the short and long runs, supporting the growth hypothesis. However, no consistent result could be obtained for the short run relationship from economic growth to energy consumption. These results indicate that increased renewable energy production and decreased energy consumption are vital for Turkey's sustainable development.

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