Bankacılık ve Finans Bölümü Yayın Koleksiyonu
Permanent URI for this collectionhttps://hdl.handle.net/20.500.12416/400
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Article Citation - WoS: 11Citation - Scopus: 12Energy Consumption and Growth: New Evidence From a Non-Linear Panel and a Sample of Developing Countries(World Scientific Publ Co Pte Ltd, 2015) Apergis, Nicholas; Ozcelebi, Hulya; Omay, TolgaThis paper investigates the relationship between economic growth and energy consumption through non-linear causality tests. Eight developing countries from Europe and Central Asia spanning the period 1993 to 2008 are selected for the purpose of panel empirical analysis. Panel unit root and panel cointegration tests with and without considering cross section dependency (CD) problems are implemented. Next, linear panel cointegration tests are employed and, finally, a two-regime Dynamic Panel Smooth Transition Vector Error Correction (PSTRVEC) model is estimated for testing the presence of non-linear short-and long-run causality. To this end, a new estimator, called the Dynamic Non-linear Pooled Common Correlated Effect Estimator (DNPCCEE) is proposed. The empirical findings indicate that short and long-run causalities are regime-dependent.Article Citation - WoS: 6Citation - Scopus: 5Exchange Rate Volatility and Trade: External Exchange Rate Volatility Matters(World Scientific Publ Co Pte Ltd, 2020) Babuscu, Senol; Hazar, Adalet; Solakoglu, M. Nihat; Tunc, CengizWe investigate the role of external exchange rate volatility in export in addition to the effect of bilateral exchange rate volatility using country-, sector-, and destination-specific detailed export data of the World Bank Exporter Dynamics Database. The results show that while the bilateral exchange rate volatility has a depressing effect on export, the external exchange rate volatility generates trade-promoting effect on export. However, the magnitude of the effect depends on trade intensity between countries. Furthermore, while the role of external exchange rate volatility diminished after the Global Financial Crisis, the effect of its volatility has become larger. Finally, external exchange rate volatility has a larger trade-promoting effect on export in the presence of high volatilities than the effect in the presence of low volatilities.Article Sector-Level Competition and Export: Evidence From Exporter Dynamics Database(World Scientific Publ Co Pte Ltd, 2019) Hazar, Adalet; Solakoglu, M. Nihat; Tunc, Cengiz; Babuscu, Senol; Nihat Solakoglu, M.We study the effect of sector-level competition on export by utilizing the Exporter Dynamics Database of the World Bank that provides sector-level competition measure along with destination-specific detailed export data. The results of the analysis show a nonlinear effect of sector-level competition on export. While at less competitive sectors, an increase in competition depresses export, at highly competitive sectors, an increase in competition generates a trade-promoting effect on export. The observed nonlinear effect is robust across sectors and countries. Therefore, productivity of peer firms could generate negative effect on a firm's export performance contrary to the usual positive effect of a firm's own productivity.