Uluslararası Ticaret Bölümü Yayın Koleksiyonu

Permanent URI for this collectionhttps://hdl.handle.net/20.500.12416/401

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Now showing 1 - 9 of 9

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; Klasra, Mushtaq Ahmad; Uluslararası Ticaret ve Finansman
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 - Scopus: 8
Competitiveness of Major Exporting Countries and Turkey in the World Fishery Market: A Constant Market Share Analysis
(2005) Klasra, M.A.; Klasra, Mushtaq Ahmad; Fidan, H.; Uluslararası Ticaret ve Finansman
The purpose of this study is to examine whether and to what extent the shares of selected countries' fishery exports in the world markets reflect their international competitiveness. The Constant Market Share (CMS) model, which decomposes export growth into some broad components (i.e., structural effects, market effects, commodity effects and competitive effects), is applied to examine this issue. The results of decomposition analysis revealed that structural factors have been more significant in explaining the growth of exports. The growth effects, though, appeared positive for each country, the exports of open economies like Canada, the United States, Iceland and Turkey benefited more from the growth of world exports. The analysis of commodity composition and market effects suggests that countries like Canada, the United States, Iceland and Turkey were pursuing the product differentiation policy and were penetrating in those markets, which have been growing relatively faster. These countries remained committed throughout the sample period (i.e., 1980-2000) to export their diversified products in fast-growing markets. The analysis of competitiveness effects, which are derived as a residual, show that Norway, Spain, the United States, Indonesia, Thailand, sChile and China were strong fishery exporters and increased their competitiveness during the sample period. Copyright © 2005 IAAEM.
Citation - WoS: 35
Citation - Scopus: 43
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.; 52039
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.
Citation - WoS: 0
Citation - Scopus: 0
Dynamics of wheat prices in the wake of market reforms: the case of Pakistan
(Springer, 2006) Klasra, MA; Klasra, Mushtaq Ahmad; Kiral, T; Uluslararası Ticaret ve Finansman
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: 59
Citation - Scopus: 74
FDI inflow as an international business operation by MNCs and economic growth: an empirical study on Turkey
(Elsevier Science Bv, 2014) Temiz, Dilek; Temiz, Dilek; Gokmen, Aytac; Gökmen, Aytaç; 52039; 17660; Uluslararası Ticaret ve Finansman
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: 3
Citation - Scopus: 4
Is there a J-curve effect in Turkish services?
(Springer, 2010) Yazici, Mehmet; Yazıcı, Mehmet; 144084; İktisat
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: 17
Citation - Scopus: 20
Monetary policy rules in practice: Re-examining the case of Turkey
(Elsevier, 2008) Hasanov, Muebariz; Omay, Tolga; Omay, Tolga; Çankaya Meslek Yüksekokulu
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: 4
Citation - Scopus: 10
The Exchange Rate and the Trade Balances of Turkish Agriculture, Manufacturing and Mining
(Springer, 2008) Yazici, Mehmet; Yazıcı, Mehmet; 144084; İktisat
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.

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