İktisadi ve İdari Bilimler Fakültesi

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Citation - WoS: 10
Citation - Scopus: 11
A glance at the constitutive elements of the leader-centered perspective in Turkish politics
(Routledge Journals, Taylor & Francis Ltd, 2017) Turk, H. Bahadir; Türk, Hasan Bahadır; 18664; Siyaset Bilimi ve Uluslararası İlişkiler
Leadership is a major aspect of Turkish politics; leaders in Turkish politics are regarded as either almost sacred figures or the ultimate reason for all political, social and economic problems. Leaders are seen as decision makers who have a significant impact on almost all aspects of life. It can be contended that a historical continuance toward the leader-centered perspective is present in Turkish politics. This paper aims to present a descriptive framework outlining the elements that constitute the leader-centered perspective in Turkish politics. To accomplish this goal, the paper presents two major arguments. It is argued that the constitutive elements of the leader-centered perspective in Turkish politics are a sui generis synthesis of patrimonialism, patriarchy, populism and militarism. Furthermore, this fourfold historical structure strengthens forms of charismatic leadership and can provide insight into the central role of leadership in Turkish politics.
Citation - WoS: 1
Citation - Scopus: 1
A Unit Root Test with Markov Switching Deterministic Components: A Special Emphasis on Nonlinear Optimization Algorithms
(Springer, 2024) Omay, Tolga; Omay, Tolga; Corakci, Aysegul; 103299; Çankaya Meslek Yüksekokulu
In this study, we investigate the performance of different optimization algorithms in estimating the Markov switching (MS) deterministic components of the traditional ADF test. For this purpose, we consider Broyden, Fletcher, Goldfarb, and Shanno (BFGS), Berndt, Hall, Hall, Hausman (BHHH), Simplex, Genetic, and Expectation-Maximization (EM) algorithms. The simulation studies show that the Simplex method has significant advantages over the other commonly used hill-climbing methods and EM. It gives unbiased estimates of the MS deterministic components of the ADF unit root test and delivers good size and power properties. When Hamilton's (Econometrica 57:357-384, 1989) MS model is re-evaluated in conjunction with the alternative algorithms, we furthermore show that Simplex converges to the global optima in stationary MS models with remarkably high precision and even when convergence criterion is raised, or initial values are altered. These advantages of the Simplex routine in MS models allow us to contribute to the current literature. First, we produce the exact critical values of the generalized ADF unit root test with MS breaks in trends. Second, we derive the asymptotic distribution of this test and provide its invariance feature.
Citation - WoS: 19
Citation - Scopus: 24
An empirical analysis of household education expenditures in Turkey
(Pergamon-elsevier Science Ltd, 2016) Acar, Elif Öznur; Acar, Elif Oznur; Gunalp, Burak; Günalp, Burak; Cilasun, Seyit Mumin; Uluslararası Ticaret ve Finansman; Yönetim Bilişim Sistemleri
Using Turkish Household Budget Surveys from 2003, 2007 and 2012, this paper investigates the determinants of household education expenditures within an Engel curve framework. In particular, we estimate Tobit regressions of real educational expenditures by income groups using a number of household characteristics (i.e. rural residence, employment status, age, educational attainment of the household head, household size, share of female students and primary school students in the household, and total number of students in the household) to examine if and to what extent the determinants of educational expenditures differ by income groups; income elasticities of educational spending evolves over time; and children from middle-class and poor families can benefit enough from educational opportunities. The estimated expenditure elasticities have lower values for the top- and the bottom income quartiles while they have larger values for the middle-income quartiles. The results also show that for all income groups the expenditure elasticity of education increases over time, indicating that Turkish households allocates greater share of their budgets to education expenditures. (C) 2016 Elsevier Ltd. All rights reserved.
Citation - WoS: 4
Citation - Scopus: 4
Analysis of distinct asymmetries in financialintegration-growthnexus for industrial, emerging and developing countries
(Wiley, 2022) Yolcu Karadam, Duygu; Öcal, Nadir; Ocal, Nadir; İktisat
This paper examines the threshold conditions in financial integration and growth relationship for a large set of threshold variables and different income group of countries employing Panel Smooth Transition Regression Models. Except developing countries, our findings strongly indicate nonlinear dynamics and imply that the impact of financial integration on growth is asymmetric depending on a number of indicators such as countries' degree of institutional quality, financial sector development, trade openness, budget deficit, inflation volatility and the level of financial integration. Our results show that these threshold effects substantially differ for emerging and industrial countries. As far as whole set of countries is concerned, our findings imply that countries having developed financial systems, qualified institutions and stable macroeconomic environment benefit from financial integration. Moreover, threshold effects are stronger and different for emerging countries compared to the industrial countries. Unlike emerging economies, higher levels of financial integration and trade openness decrease benefits from financial openness for the industrial countries. Besides, high fiscal deficit has more pronounced negative effect on the growth of the industrialized countries compared to emerging economies and other indicators.
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: 1
Empire of Languages: Eu's Multilingualism Policy and the Turkish Language
(Routledge Journals, Taylor & Francis Ltd, 2012) Atac, C. Akca; 17826
Despite its crucial role in sustaining better integration, multilingualism is not discussed as widely as the other topics of multiculturalism within the context of the European Union (EU) enlargement. The accession process requires Turkey to take notice of the opportunities and shortcomings as well as the challenges of European multilingualism and to communicate the relevance of the Turkish language to the completeness of European multiculturalism. The present article aims to assess the EU language policy in light of the future imperative of incorporating Turkish into Europe's linguistic family by referring to the EU's laws, norms, and values as well as NGOs' reports and opinion papers.
Citation - WoS: 18
Citation - Scopus: 18
Estimation in bivariate nonnormal distributions with stochastic variance functions
(Elsevier Science Bv, 2008) Tiku, Moti L.; Islam, M. Qamarul; Sazak, Hakan S.
Data sets in numerous areas of application can be modelled by symmetric bivariate nonnormal distributions. Estimation of parameters in such situations is considered when the mean and variance of one variable is a linear and a positive function of the other variable. This is typically true of bivariate t distribution. The resulting estimators are found to be remarkably efficient. Hypothesis testing procedures are developed and shown to be robust and powerful. Real life examples are given. (C) 2007 Elsevier B.V. All rights reserved.
Citation - WoS: 11
Citation - Scopus: 13
Import-Content of Exports and J-Curve Effect
(Routledge Journals, Taylor & Francis Ltd, 2010) Yazıcı, Mehmet; Yazici, Mehmet; Klasra, Mushtaq Ahmad; Klasra, Mushtaq Ahmad; 144084; İktisat; Uluslararası Ticaret ve Finansman
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: 4
Citation - Scopus: 4
Inference in multivariate linear regression models with elliptically distributed errors
(Taylor & Francis Ltd, 2014) Yıldırım, Fetih; Islam, M. Qamarul; Yildirim, Fetih; Yazıcı, Mehmet; Yazici, Mehmet; 6772; 144084; Ortak Dersler Bölümü; İktisat
In this study we investigate the problem of estimation and testing of hypotheses in multivariate linear regression models when the errors involved are assumed to be non-normally distributed. We consider the class of heavy-tailed distributions for this purpose. Although our method is applicable for any distribution in this class, we take the multivariate t-distribution for illustration. This distribution has applications in many fields of applied research such as Economics, Business, and Finance. For estimation purpose, we use the modified maximum likelihood method in order to get the so-called modified maximum likelihood estimates that are obtained in a closed form. We show that these estimates are substantially more efficient than least-square estimates. They are also found to be robust to reasonable deviations from the assumed distribution and also many data anomalies such as the presence of outliers in the sample, etc. We further provide test statistics for testing the relevant hypothesis regarding the regression coefficients.
Citation - WoS: 2
Citation - Scopus: 3
Loan-to-Value Policy: Evidence From Turkish Dual Banking System
(Emerald Group Publishing Ltd, 2018) Pirgaip, Burak; Pirgaip, Burak; Hepsen, Ali; 252136; Bankacılık ve Finans
Purpose-This paper aims to answer how effective the loan-to-value (LTV) regulation has been since 2011 for conventional and Islamic (participation) banks in Turkey in terms of curbing mortgage loan growth and delinquency[1]. Design/methodology/approach-The authors first use unit root tests and tests of difference in loan and property price data in pre-LTV and post-LTV period. Second, the authors follow Chow test and ordinary least squares regression analyses to test for a structural break when sensitivity of mortgage loan and delinquency growth changes to property price changes considered. Findings-The authors find that two periods are statistically different, while the significance level is lower for Islamic banks. Moreover, loan growth has become less responsive to property price increases; delinquency sensitivity to property price changes has significantly increased in the post-LTV period for conventional banks, while this is not the case for Islamic (participation) banks. Originality/value-This paper not only increases empirical evidence regarding the effectiveness of LTV ratio policy but also fills the gap in the literature by providing a comparison between conventional banks and Islamic (participation) banks.
Citation - WoS: 1
Citation - Scopus: 0
Local actors' actions in Turkish cinema during the 1990s: a political economy perspective
(Routledge Journals, Taylor & Francis Ltd, 2019) Kalemci, R. Arzu; 42537
This study analyzes changes in Turkish cinema in the 1990s. During this time, Turkish cinema was exposed to changes resulting from globalization and the foreign domination of cinema that came along with it. More recently, Turkish cinema has seen noticeable growth. By adopting a political economy perspective, this study investigates how the local actors of Turkish cinema, which were on the defensive, were able to overcome significant challenges.
Citation - WoS: 13
Citation - Scopus: 13
Multiple linear regression model with stochastic design variables
(Taylor & Francis Ltd, 2010) Islam, M. Qamarul; Tiku, Moti L.
In a simple multiple linear regression model, the design variables have traditionally been assumed to be non-stochastic. In numerous real-life situations, however, they are stochastic and non-normal. Estimators of parameters applicable to such situations are developed. It is shown that these estimators are efficient and robust. A real-life example is given.
Citation - WoS: 4
Citation - Scopus: 3
Note on common fixed point theorems in convex metric spaces
(Mdpi, 2021) Kumar, Anil; Tas, Aysegul; 29252
In the present paper, we pointed out that there is a gap in the proof of the main result of Rouzkard et al. (The Bulletin of the Belgian Mathematical Society 2012). Then after, utilizing the concept of (E.A.) property in convex metric space, we obtained an alternative and correct version of this result. Finally, it is clarified that in the theory of common fixed point, the notion of (E.A.) property in the set up of convex metric space develops some new dimensions in comparison to the hypothesis that a range set of one map is contained in the range set of another map.
Citation - WoS: 65
Citation - Scopus: 80
Organizational and supervisory support in relation to employee turnover intentions
(Emerald Group Publishing Limited, 2012) Tuzun, Ipek Kalemci; Kalemci, R. Arzu; 40702; 42537
Purpose - The present paper aims to examine the relationship between perceived organizational support (POS), perceived supervisory support (PSS) and turnover intentions. The paper also aims to investigate whether employee's individual cultural values regarding collectivism and individualism moderate the relationship between POS and turnover intentions. Design/methodology/approach - Data were obtained utilizing survey from a sample of 304 full-time employed adults working in insurance companies in Turkey. Employees completed regular survey that contained measures of the constructs of interest of this study. Findings - Results revealed that employees who perceive high levels of PSS but report low levels of POS will also report high levels of turnover intentions compared to employees who perceive low PSS and low POS. Practical implications - For increasing POS to be successful, managers must strive to find out the way to increase their social support, and then tailor support accordingly. Managers may benefit from considering cultural values during the support process. Furthermore organizations may develop different support policies for employees. Originality/value - The study's findings add to the growing body of research concluding that supervisor-related perceptions and attitudes can shape organization-related perceptions and attitudes.
Citation - WoS: 0
Citation - Scopus: 1
Real exchange rates and job flows: evidence from Turkey
(Routledge Journals, Taylor & Francis Ltd, 2018) Dogan, Ergun; Yazıcı, Mehmet; Islam, M. Qamarul; Yazici, Mehmet; 43080; 14480; İktisat
This study investigates the effects of the real exchange rate on job flows in Turkish manufacturing industries between 2006 and 2015 using data at the four-digit NACE Revision 2 level. Using dynamic panel data models, we find that a real appreciation increases gross and net job creation rates, and that the effect of appreciation is magnified as the exposure to international competitiveness of industries increases. We think that this is because Turkish manufacturing firms import a greater share of their inputs compared to the firms in developed countries. Hence, an appreciation creates more jobs because lower imported input costs enable firms to outcompete foreign producers.
Citation - WoS: 25
Citation - Scopus: 22
Real interest rates: nonlinearity and structural breaks
(Physica-verlag Gmbh & Co, 2017) Omay, Tolga; Omay, Tolga; Corakci, Aysegul; Emirmahmutoglu, Furkan; 103299; Çankaya Meslek Yüksekokulu
Real interest rate is a crucial variable that determines the consumption, investment and saving behavior of individuals and thereby acts as a key policy tool that the central banks use to control the economy. Although many important theoretical models require the real interest rates to be stationary, the empirical evidence accumulated so far has not been able to provide conclusive evidence on the mean reverting dynamics of this variable. To resolve this puzzle we re-investigate the stochastic nature of the real interest rates by developing unit root tests for nonlinear heterogeneous panels where the alternative hypothesis allows for a smooth transition between deterministic linear trends around which stationary asymmetric adjustment may occur. When the newly developed panel unit root tests are applied to the real interest rates of the 17 OECD countries, we were able to uncover overwhelming empirical support in favor of mean reversion in the short-run and long-run real interest rates. Therefore, these results show that the conclusions drawn from a miss-specified test that ignores the presence of either nonlinearity, structural breaks or cross sectional dependence can give quite misleading results about the stochastic behavior of the real interest rates.
Citation - WoS: 19
Citation - Scopus: 21
Regression analysis with a dtochastic design variable
(Wiley, 2006) Sazak, HS; Tiku, ML; Islam, MQ
In regression models, the design variable has primarily been treated as a nonstochastic variable. In numerous situations, however, the design variable is stochastic. The estimation and hypothesis testing problems in such situations are considered. Real life examples are given.
Citation - WoS: 37
Citation - Scopus: 43
Renewable Energy Production, Energy Consumption and Sustainable Economic Growth in Turkey: A VECM Approach
(Mdpi, 2019) Dinc, Dilek Temiz; Akdoğan, Ece Ceylan; Akdogan, Ece C.; Bankacılık ve Finans
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.
Citation - WoS: 1
Citation - Scopus: 1
Testing for Unit Roots in Nonlinear Dynamic Heterogeneous Panels with Logistic Smooth Breaks
(Mdpi, 2023) Omay, Tolga; Omay, Tolga; Ucar, Nuri; Uçar, Nuri; 189073; Çankaya Meslek Yüksekokulu; Bankacılık ve Finans
In this study, we investigate the validity of the purchasing power parity (PPP) proposition for 34 European and selected global countries. For this purpose, we propose a new unit root test for cross-sectionally dependent heterogeneous panels that allows for gradual structural breaks and symmetric nonlinear adjustment toward the equilibrium level. The alternative hypothesis stationary is obtained by symmetric adjustment due to exponential smooth transition autoregression (ESTAR) around a nonlinear trend. Moreover, we provide small sample properties extensively for the newly proposed test. Hence, this alternative hypothesis has been proven to characterize real exchange rate data (REER) correctly. Thus, the newly proposed tests provide an essential basis for modeling the REER series correctly. Finally, we also derive the approximate asymptotic distribution of the proposed tests using new techniques.
Citation - WoS: 91
Citation - Scopus: 112
The degree of financial liberalization and aggregated stock-return volatility in emerging markets
(Elsevier Science Bv, 2010) Umutlu, Mehmet; Umutlu, Mehmet; Akdeniz, Levent; Altay-Salih, Aslihan; 38254; 178057; İşletme
In this study, we address whether the degree of financial liberalization affects the aggregated total volatility of stock returns by considering the time-varying nature of financial liberalization. We also explore channels through which the degree of financial liberalization impacts aggregated total volatility. We document a negative relation to the degree of financial liberalization after controlling for size, liquidity, country. and crisis effects, especially for small and medium-sized markets. Moreover, the degree of financial liberalization transmits its negative impact on aggregated total volatility through aggregated idiosyncratic and local volatilities. Overall, our results provide evidence in favor of the view that the broadening of the investor base due to the increasing degree of financial liberalization causes a reduction in the total volatility of stock returns. (C) 2009 Elsevier B.V. All rights reserved.

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