İktisat Bölümü Yayın Koleksiyonu

Permanent URI for this collectionhttps://hdl.handle.net/20.500.12416/402

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The Macroeconomic Effects Of Sovereign Risk Premium Shock: A Case Study For Turkey
(2018) Varlık, Nimet; Gebeşoğlu, Fulya
Ülke risk primi şokunun makroekonomik etkileri 2005:12- 2017:3 dönemi için Yapısal Vektör Otoregresyon Modeli kullanılarak incelenmiştir. Türkiye için ülke risk primi göstergesi olarak EMBI+TR kullanılan model nominal döviz kuru sepeti, tüketici fiyatları endeksi, tüketici kredileri, sanayi üretim endeksi ve cari açık bilançosunu içermektedir. Ampirik sonuçlar ülke risk priminde gözlenen yapısal şokların Türkiye’nin açık enflasyon hedeflemesi döneminde makroekonomik değişkenlerini olumsuz yönde etkilediğini göstermektedir. EMBI+ TR göstergesindeki bir standart sapmalık şok Türk Lirasında devalüasyona, fiyat seviyesinde artışa, kredi hacminde daralmaya, sanayi üretim endeksinde düşüşe ve cari açık bilançosunda artışa yol açmaktadır. Ülke risk priminin döviz kuru ve krediler üzerindeki olumsuz etkisi diğer değişkenler üzerindeki etkisine kıyasla daha fazladır. Ayrıca ülke risk primi şokları kredi daralması yaratmak suretiyle reel ekonomide küçülmeye ve cari açık bilançosunda artışa yol açmaktadır. Varyans ayrıştırmasının bulguları ile etki tepki analizinin sonuçları tutarlı olupülke risk priminde gözlenen yapısal şokların kredi üzerindeki etkilerinin diğer değişkenlere kıyasla daha fazla olduğu sonucuna varılmıştır.
The intermediary institutions which are preferred for manipulative trading: Evidence from an emerging market
(2017) Doğanay, Mete; Aktaş, Ramazan; Somuncu, Kartal; 112010
This research investigates the type of intermediary institutions chosen by the manipulators for their manipulative trading. Univariate and multivariate analyses are performed and three variables having significant effect on the manipulators’ choice of intermediary institution for their manipulative trading are found. These variables are being publicly traded, size in terms of total assets, and gross profit margin. Being publicly traded and size are positively; gross profit margin is negatively related to the manipulators’ choice of intermediary institution for their manipulative trading. Managers of the intermediary institutions and regulators should be aware of these results and regulators should scrutinize high volume transactions conducted through this type of intermediary institutions more closely.
Plant Size, Turnover and Productivity in Malaysian Manufacturing
(2010) Doğan, Ergun; Wong, Koi Nyen; 43080; İktisat
Malaysian manufacturing has an asymmetrical structure: small and medium-sized enterprises dominate in numbers, but contribute relatively little to total output, employment, and exports as compared to their larger counterparts. In light of an increasingly competitive environment arising from globalization, a sound knowledge of turnover patterns within the sector by plant size and its potential impact on aggregate productivity growth is imperative. We find that turnover, particularly of large plants, makes a substantial contribution to overall productivity growth in manufacturing. Hence, from a policy perspective, facilitating turnover might be as important as supporting existing plants in promoting aggregate productivity growth.
Terrorism and the Stock Market: A Case Study for Turkey Using STR Models
(2014) Omay, Tolga; Omay, Tolga; 103299; Çankaya Meslek Yüksekokulu
Several attempts have been made in the literature to analyze the detrimental effects of terrorist activities on the stock market. However, in neither of these studies the effects of terrorist activities on stock returns are investigated through employing nonlinear models in spite of the fact that most financial data is shown to exhibit nonlinear behaviour. This study, therefore, aims to contribute to this growing area of research by exploring the potential nonlinear effects of terrorist activities on stock returns by employing smooth transition regression (STR) models. Our results show that terrorism has a statistically significant negative effect on the stock index when the intensity of terrorist activities passes a certain threshold level. This negative effect continues for terrorist activities below this threshold level, but becomes statistically insignificant. This study by conducting the analysis within a nonlinear framework offers important insights into the investors who want to make portfolio diversification strategies against terrorism risk.
Multiple linear regression model under nonnormality
(2004) Islam, M. Qamarul; Tiku, Moti L.
We consider multiple linear regression models under nonnormality. We derive modified maximum likelihood estimators (MMLEs) of the parameters and show that they are efficient and robust. We show that the least squares esimators are considerably less efficient. We compare the efficiencies of the MMLEs and the M estimators for symmetric distributions and show that, for plausible alternatives to an assumed distribution, the former are more efficient. We provide real-life examples.
Nonnormal Regression.I. Skew Distributions
(2001) Islam, M. Qamarul; L. Tiku, Moti; Yildirim, F.
In a linear regression model of the typey¼ Xþe, it is oftenassumed that the random erroreis normally distributed. Innumerous situations, e.g., whenymeasures life times or reac-tion times,etypically has a skew distribution. We considertwo important families of skew distributions, (a) Weibull withsupport IR:ð0,1Þon the real line, and (b) generalised logisticwit hsupport IR:ð 1,1Þ. Since the maximum likelihoodestimators are intractable in these situations, we derivemodified likelihood estimators which have explicit algebraicforms and are, therefore, easy to compute. We show that theseestimators are remarkably efficient, and robust. We develophypothesis testing procedures and give a real life example
Citation - WoS: 1
Legislation On Ottoman Copyright Law
(Selcuk Univ, inst Turkish Studies, 2007) Çakmak, Diren; Cakmak, Diren; 131918; Siyaset Bilimi ve Uluslararası İlişkiler
In this study the age of copyright law in Turkey is 157 years is determined and, the fact that copyright as a term has entered in our country in the year 1850 with Statute of Encumen-i Danis, the first legal text on copyright is Statute of Copyright dated 1857, Statute of Copyright and Translation dated 1870 is compensatory legal text of Statute of Copyright, the second legal text on copyright is Code of Copyright dated 1910 is determined.
Kadınların Yoksulluğu Yaşama Biçimleri : Yapabilirlik Ve Yapabilirlikten Yoksunluk
(2004) Kardam, Filiz; Yüksel, İlknur; Siyaset Bilimi ve Uluslararası İlişkiler
Bu çalışmada düşük sosyo-ekonomik gruptaki kadınların yoksulluğu algılamaları, yoksullukla ilgili tecrübeleri ve yaşam stratejileri Amartya Sen’in ‘yapabilirlik yaklaşımı’ndan yararlanılarak analiz edilmiştir. Makalenin amacı, temel kapasiteleri ve yaşam deneyimleri farklılık gösteren kadınların yoksulluğu yaşama biçimleri arasındaki benzerlik ve farklılıkları ortaya çıkarırken, gelir ve tüketimin yanı sıra maddi olmayan kaynakları ve olanakları da ele almaktır. Çalışmada, Ankara’da düşük gelir grubunda yaşayan 40 kadın ile derinlemesine görüşmeler yapılmıştır. Görüşülen kadınların evleri ve çevreleriyle ilgili gözlemlere ek olarak yoksulluğu önleyici programlara sahip bazı kurumlardan da bilgi edinilmiştir.
Is there a Purchasing Power Parity (PPP) Puzzle? New Evidence from a Nonlinear Asymmetric Panel Unit Root Test
(2016) Çorakçı, Ayşegül; 103299
This study re-examines the validity of the purchasing power parity (PPP) hypothesis for 24 OECD countries. The econometric methodology implemented not only allows for asymmetric nonlinear mean reversion within a panel context, but also corrects for the cross-sectional dependence bias frequently encountered in panel data. This feature is important because a test that ignores the presence of asymmetry and cross-sectional dependence when they are in fact present in the data would lead to misleading results. We obtain relatively stronger evidence in favor of the PPP hypothesis when compared to the other alternative panel unit root tests. However, on the whole, this support is still weak even after allowing for asymmetric nonlinear mean reversion in the real exchange rate series. Therefore, to reconcile the data with the theory further methods should be developed.
Exchange Rate And Bilateral Trade Balance Of Turkey With EU (15) Countries
(2014) Yazıcı, Mehmet; Islam, M. Qamarul; 144084; İktisat
This paper investigates the short-run and long-run impact of real exchange rate on the bilateral trade balance of Turkey with EU (15) countries. We’ve employed the bounds testing approach to the cointegration and the error correction modeling. Following Yazici and Islam (2011a, 2011b, 2012) and Yazici (2012), we select the optimal model from the set of those models that satisfy both diagnostic tests and cointegration. Thus, unlike the other studies, it is ensured that a statistically reliable and cointegrated model is picked up for estimation. Based on the quarterly data for 1982-I to 2001-IV period, estimation results indicate no evidence of J-curve in the short run in any of Turkey’s bilateral trade with EU(15) countries. In the long run, however, real depreciation of Turkish Lira improves the trade balance of Turkey with Austria, Denmark, France, Ireland, Italy, Sweden and UK.
Citation - WoS: 4
Citation - Scopus: 5
Hysteresis and stochastic convergence in Eurozone unemployment rates: evidence from panel unit roots with smooth breaks and asymmetric dynamics
(inst Badan Gospodarczych, 2022) Corakci, Aysegul; Omay, Tolga; Omay, Tolga; Hasanov, Mubariz; 103299; Çankaya Meslek Yüksekokulu
Research background: Studying the dynamic characteristics of unemployment rate is crucial for both economic theory and macroeconomic policies. Despite numerous research, the empirical evidence about stochastic behaviour of the unemployment rate remains disputable. It has been widely agreed that most economic variables, including unemployment rates, are characterized by both structural breaks and nonlinearities. However, a little work is done to examine both features simultaneously. Purpose of the article: In this paper, we analyse the stationarity properties of unemployment rates of Euro area member countries. Also, we aim to test stochastic convergence of unemployment rates among member countries. Our empirical procedures explicitly allow for simultaneous gradual breaks and nonlinearities in the series. Methods: This paper develops a new unit root test procedure for panel data, allowing for both gradual structural breaks and asymmetric adjustment towards equilibrium. We carry out Monte Carlo simulations to examine small sample performance of the proposed test procedure and compare it to the existing test procedures. We apply the newly proposed test to examine the stochastic properties of the unemployment rates of Euro-member countries as well as relative unemployment rates vis-a-vis the Eurozone unemployment rate. Findings & value added: We find that the newly developed test procedure outperforms existing tests in highly nonlinear settings. Also, these tests reject the null hypothesis of unit root in more cases when compared to the existing tests. We find stationarity in the series only after allowing for structural breaks in the data generating process. Allowing for nonlinear and asymmetric adjustment in addition to gradual breaks provides evidence of stationarity in more cases. Furthermore, our results suggest that relative unemployment rate series are stationary, providing evidence in favour of stochastic convergence in unemployment rates. Overall, our results imply a limited room for coordinated economic policy to fight unemployment in the Eurozone.
Does workplace envy always have detrimental consequences in organizations? A study of public and private sector employees
(2020) Şener, İrge; Karabay, Melisa; Elçi, Meral; Erman, Halil; 21583; İşletme
Purpose Based on the situational approach for envy, the purpose of this paper is to examine the effect of two-dimensional workplace envy (being envied and envying others) on the task and contextual performance of employees working in either private or public sector organizations. Design/methodology/approach This study was conducted on survey data collected from 988 private sector employees and 530 employees from the public sector employed in Istanbul. Following a quantitative empirical design, structural equation modeling was used to test the hypotheses. Findings The study results revealed that envying-others dimension has a significant negative effect on both task performance and contextual performance. In addition, the findings indicate more envious feelings of private sector employees than public sector employees. For public sector employees, male participants were found to envy others more than females. Research limitations/implications In addition to the contributions, this study has its limitations. First, although the study was carried out with a comprehensive sample, it is limited to the views of 1,518 employees in Istanbul and is a cross-sectional study. Also, employee performance is evaluated through self-reporting, which forms another limitation; it could have been more reliable for the supervisors to assess their subordinates' performance. Practical implications Apart from scholars, our findings have implications for practitioners. Feelings such as envy that comes with a sense of competition can create an environment that stimulates people, motivates them to work, can make them productive and can also cause an ultimately destructive situation. This makes it critical to manage envy in the workplace. Though there may be facilitators behind it, one crucial factor that fuels envy in the workplace is the lack of fair human resources policies and systems. Still, human resources management is undeveloped in most public organizations. With effective human resources management, there may be some roadmaps for managers to dissolve conflicts arising from envy. First, it is imperative to have systems that will separate the employee from the others, which everyone will accept, strengthening the feelings of justice among employees. Envy often occurs following a social comparison. Management can implement an incentive system that supports employee collaboration and avoid nepotism. Especially in private organizations where the competition is more among employees, managers should give more attention to understand their subordinates' feelings. The managers' attention to expressing their feelings toward their subordinates could establish an equal distance within the workplace. In this sense, language selection is critical, and managers should be mindful of linguistic triggers. Managers should not avoid giving both positive and negative feedback to their employees. Unwarranted and unsystematic reward and/or punishment systems, made with the good intentions of increasing competition, can trigger envy. Finally, managers should implement an open-door policy and open communication that will encourage all team members to be transparent to each other. Originality/value The study was based on a rationale that envy has detrimental workplace outcomes that lead to low task and contextual performance. Although there exists a recent interest for examining the relation between workplace envy and employee performance, based on being envied and envying others dimensions, these studies are limited. This study focuses on these dimensions and performance relations, and it also provides a comparative outlook for public and private sector employees in Turkey in terms of workplace envy.
Does the Incomplete Information Matter with Export Quotas?
(2006) Yazıcı, Mehmet; 144084; İktisat
This study investigates whether or not incomplete information matters when the government adopts the export quotas in intervening in the oligopolistic export markets. Incomplete information the government has is about the unit-production cost of the domestic firm. It is shown first that quotas optimal under full information (full-information policy) result in Stackelberg outcome, the best outcome in a non-cooperative setting from the domestic firm`s point of view. When the full-information policy is implemented in the presence of incomplete information, it is found that no cost-type has an incentive to misrepresent itself as the other type. This means that full-information outcome will be achieved with incomplete information. Hence, incomplete information does not matter in the case of export quotas. This result, however, does not carry over to the case of more than one domestic firm.
Determinants Of Turkish Mining Trade Balance With Eu(15): Estimates From Bound Testing Approach
(2016) Yazıcı, Mehmet; Islam, Qamarul; 144084; İktisat
We estimate the short-run and long-run determinants of the trade balance of Turkish Mining with EU (15) countries as well as impact of Customs Union (CU) agreement using the bounds testing approach to the cointegration and the error correction modeling. In selecting the optimal model, we follow Yazici and Islam (2011a, 2011b, 2012) and Yazici (2012) and adopt their model selection strategy where selection is made from the set of those models that satisfy both diagnostic tests and cointegrtion, thus ensuring the selection of a statistically reliable and cointegrated model. Estimation results based on the data for 1988-I to 2008-IV period indicate that in the determination of mining trade balance in the short-run only real domestic income matters. Long-run results indicate that real exchange rate and real domestic income variables have coefficients with expected signs but they are not statistically significant. Only statistically significant long-run determinant of mining trade balance is real EU(15) income. Dummy variable for the customs union agreement does not have a statistically significant coefficient, meaning that the agreement does not have a significant long-run effect on mining trade balance of Turkey with EU(15).
Citation - Scopus: 7
Bitcoin Market Price Analysis and an Empirical Comparison with Main Currencies, Commodities, Securities and Altcoins
(Springer Science and Business Media Deutschland GmbH, 2019) Pirgaip, B.; Pirgaip, Burak; Dinçergök, B.; Haşlak, Ş.; Bankacılık ve Finans
The purpose of this study is to analyze Bitcoin (BTC) market prices and to answer the question of whether there is a relationship between BTC and other asset prices, where other assets include currencies, commodities, securities and altcoins. In the empirical part, we evaluate the lead-lag relationships among each type of asset. Consequently, we compare BTC with major currencies and stock exchanges of the U.S., the EU, the U.K. and Japan (USD-SPX, EUR-DAX, GBP-FTSE and JPY-NIK), with currencies and stock exchanges of the U.S., the U.K., Russia, Venezuela and China where BTC is actively traded (USD-SPX, GBP-FTSE, RUB-MOEX, VEF-IBVC and YUAN-SSCE), with major commodities (GOLD and OIL) and with major altcoins (ETH, XRP and LTC) on a daily basis for the period spanning from 2010.07 to 2018.12. We employ Johansen co-integration, Granger causality, impulse response functions and forecast error variance decomposition analyses in our study. Our results show that BTC does not have a long-run relationship with any asset type, but that it has a short-run relationship with gold and especially altcoins, which are both significant and bidirectional. While BTC and altcoins are closely interrelated with each other, BTC price variation is mostly borne by its own prices in all cases. © Springer Nature Switzerland AG 2019.
Benlik Saygısının Çatışma Yönetim Stilleri Üzerindeki Etkisi: Bir Üniversite Hastanesi Örneği
(2013) Tunç, Tülin; Kutanis, Rana; 138931
Bu araştırmanın ana amacı; benlik saygısının bütünleştirme, kaçınma, uyma, hükmetme ve uzlaşma olarak ifade edilen çatışma yönetim stillerinin her biri üzerindeki etkilerini ortaya koymaktır. Benlik saygısı ile her bir çatışma yönetim stili arasındaki ilişkileri ve katılımcıların bazı sosyodemografik özelliklerine göre çatışma yönetim stilleri arasındaki farklılıkları belirlemek de alt amaçlardır. Bir üniversite hastanesinde görev yapan 267 hekime, nicel yöntem bağlamında anket formu uygulanmıştır. Katılımın gönüllülük esasına göre belirlendiği araştırmada, geri dönen ve analize dahil edilen anket sayısı 183 olup, geri dönüş oranı % 68.54’tür. Katılımcıların anket formundaki ‘Rosenberg Benlik Saygısı Ölçeği (RSES)’ ve ‘Rahim Örgütsel Çatışma Envanteri-II (ROCI-II)’ni doldurmaları ile elde edilen nicel veriler analiz edilmiştir. Elde edilen bulgulara göre; cinsiyet, medeni durum, yaş, meslekte toplam çalışma süresi (kıdem) ve statü değişkenleri açısından, katılımcıların bazı çatışma yönetim stillerinde farklılıklar olduğu; benlik saygısının bütünleştirme, kaçınma ve uyma stilleri ile ilişkili bulunduğu; ayrıca, bu stilleri etkilediği ortaya konmuştur.
Türkiye’de Sinema Sektörünün Geçmişi; Bugünü ve Yarını: Karşılaştırmalı Bir Çalışma
(2023) Doğanay, Mehmet Mete; Doğanay, Mehmet Mete; 112010; İşletme
Barındırdığı önemli özellikler sinemayı bir sanat ve eğlence kaynağı olmanın çok ötesine taşımıştır. Sinema ile ilgili yapılan birçok çalışma sinemayı değişik açılardan ele almıştır. Bu çalışmada sinemaya geniş bir perspektiften bakılmış ve sinema ile ilgili yapılan değişik birçok çalışma ile birlikte Internet Movie Database (IMDB)’de yer alan Türk filmleri ile ilgili araştırmalardan yararlanılmıştır. Çalışmanın temel amacı Türkiye’deki sinema sektörünü incelemek olmakla beraber, bir karşılaştırma imkânı sağlaması açısından dünyada sinema endüstrisi alanında önemli yeri olan başta ABD (Hollywood) olmak üzere örnek teşkil edebilecek Hindistan (Bollywood) ve Nijerya (Nollywood) sinema sektörlerinin de değişik açılardan incelenmesidir. Çalışmanın ilk iki bölümünde Hollywood, Bollywood ve Nollywood film endüstrilerinin gelişimi el alınmıştır. Üçüncü bölümde Türk sinemasının doğuşu ve gelişimi incelenmiştir. Çalışmanın dördüncü bölümünde ise Türk sinemasında film içerikleri örneklerle sunulmuştur. Son bölümde ise Türk sinemasının genel bir değerlendirmesi üzerinden Türk sinemasının geleceği üzerine fikirler ortaya atılmaktadır.
Is there convergence in renewable energy deployment? Evidence from a new panel unit root test with smooth and sharp structural breaks
(2023) Omay, Tolga; Omay, Tolga; 103299; Çankaya Meslek Yüksekokulu
This study examines whether the contribution of renewable energy to the total primary energy supply converges in a panel of 24 OECD countries over the period 1960–2020. To this end, a new panel unit root test that allows for both sharp and smooth breaks is proposed to test for the stochastic convergence hypothesis. Although renewable energy convergence is not rejected when the newly proposed test is applied to the full panel of OECD countries, it found only moderate support within the members of the panel using a sequential panel selection methodology. In fact, in two high-income OECD countries, the contribution of renewable energy to the primary energy supply shows no sign of convergence: Poland and Iceland. Therefore, the renewable energy shares seem to be converging to a common steady state in only a group of OECD countries over the long run. This uneven pattern of convergence, in turn, suggests that the OECD countries are still far away from developing a common sustainable renewable energy target, calling for urgent international policy cooperation to encourage the divergent economies to seek out the menu of policies that ensure the worldwide success of renewable energy transformation.
Citation - Scopus: 0
The journal forum: 1954-1960 in Turkey
(Common Ground Research Networks, 2007) Cakmak, D.; Çakmak, Diren; 131918; Siyaset Bilimi ve Uluslararası İlişkiler
In the ten years (1950-1960) of Democrat Party rule in Turkey, intellectuals were obliged to create some alternative centers of power, particularly in view of government's oppressive policies towards the universities and the press. Forum Journal constituted one such center of criticism. Forum's writers -most of whom were educated in the republican regime- opposed the DP's pragmatic approach to politics and wanted to center political life on reason and to eliminate conservative attitudes. Most of the writers were from the Faculty of Political Science in Ankara University. Forum started to be published in April 1954. Forum did not aim at a struggle to acquire political power. Forum had an influence on almost the whole of the Turkish intelligentsia in the years 1954-1960. The institutions and ideas suggested by Forum were realized to a large extent with the Constitution accepted after the military intervention in the year 1960. For example, the establishment of a second chamber of the legislative assmebly -the Senate-, the constitutional court, the state planning organization, autonomous universities, independence of judges, free press, granting rights to strike and collective negotiations to workers, free opposition, the principal of social equality..etc that had all been discussed in the pages of Forum, found place in the Constitution 1961. So it is possible to claim that Forum Journal with its great contribution for the reconsolidation of the democratic regime demonstrated the higly significant role in Turkish political life. Forum writers treated the military intervention in 27 May 1960 as the liberator of Turkish democracy although it caused a temporary break in the democratic regime. This study which is based on the evaluation of Forum Journal will be a serious contribution considering the journal's support in military intervention of 1960 in Turkish political life. © Common Ground, Diren Cakmak, All Rights Reserved.
Citation - Scopus: 0
Private charity and cooperation vs. non-cooperation
(2006) Yazici, M.; Yazıcı, Mehmet; 144084; İktisat
This study analyzes cooperative and non-cooperative outcomes in the context of private charity and compares them on efficiency grounds. Analysis is conducted in a model economy where there are two rich individuals and one poor and the rich care about the well-being of the poor. The results of the analysis suggest that, when making donations to the poor, the rich should get together and act cooperatively instead of behaving independently. Given the fact that there are many donors in reality and therefore it is difficult for them to get together for cooperation, this result implies a role for government to provide a mechanism for cooperation and justifies the support of the governments for charity organizations. © 2006 Asian Network for Scientific Information.

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