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Достойная работа и экономический ростПоддержка стабильного, всеобъемлющего и устойчивого экономического роста, полной и продуктивной занятости и достойных рабочих мест для всех
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To Click or Not To Click? Kyrgyz Consumers

Azamat MAKSUDUNOV

Social media attracts a wide range of users and in this way creates great opportunities for businesses and in this way attract the academic researchers from all over the world. According to recently published research, the majority of the articles on this subject concentrated in the last 5 years and main of them addressed to developed countries. Limited numbers of studies have published from emerging markets especially from the former Soviet Union countries. This study aims to examine social media usage in Post-Soviet Kyrgyzstan. Data was collected by using structured questionnaire, which base ...Более

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Perception of Strategical Management in Textile Sector

Celaleddin SERINKAN

The aim of this research includes what the perception of textile firms operating in Denizli province about strategic management issues are, at what organizational level the strategic management decisions are taken and what the strategic goals are. Moreover, this study is important in terms of creating awareness by reminding the importance of strategic management in textile sector. The textile sector which has an important place within Denizli's economy. The textile production and sales have always been placed on the top for the economic structure in Denizli and it will continue to be an econom ...Более

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A Comparative Analysis of Productivity Growth, Catch-Up, and Convergence in Transition Economies

Ertuğrul DELİKTAŞ

The paper examines the macroeconomic performance of 25 transition economies using a comparable data set. In order to see whether transition to a market-based economy increased economic efficiency, technical progress, and total factor productivity (TFP), we estimate efficiency measures for Eastern European and Baltic countries and the republics of the former Soviet Union using stochastic frontier analysis (SFA) and data envelopment analysis as a confirmatory analysis. According to the SFA estimates, the average annual efficiency level for the 25 transition economies is 0.548, and the average an ...Более

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Persistence in inflation: Does Aggregation Cause Long Memory?

Mehmet BALCILAR

This paper examines persistence in Turkish inflation rates using data from consumer and wholesale price indices. The inflationary process in Turkey is believed to be highly inertial, which should lead to strongly persistent inflation series. Persistence of seventy-five inflation series at various aggregation levels is examined by estimating models that allow long memory through fractional differencing. The order of fractional differencing is estimated using several semiparametric and maximum likelihood methods. Persistence of each series is evaluated using the time required for a given percent ...Более

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Multifractality of the Istanbul and Moscow Stock Market Returns

Mehmet BALCILAR

There is a growing awareness among financial researchers that the traditional models of asset returns cannot capture essential time series properties of the current stock return data. We examine commonly used models, such as the autoregressive integrated moving average (ARIMA) and the autoregressive conditional heteroskedasticity (ARCH) family, and show that these models cannot account for the essential characteristics of the real Istanbul Stock Exchange and Moscow Stock Exchange returns. These models often fail, and when they succeed, they do at the cost of an increasing number of parameters ...Более

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Relationship between Trade Openness and Economic Growth: Evidence from Panel Causality Analysis

Zamira ÖSKÖNBAYEVA

The main purpose of this study is to investigate the causal relationship between trade openness and economic growth using the panel data of 125 countries for the period 1992-2015. For this purpose, a three-stage panel Granger causality test has been employed. Countries were divided into two groups as developed and developing countries. In the first stage panel unit root test has been used in order to explore stationarity properties of the series. Then panel co-integration technique has been employed in order to estimate long-run economic relationships between variables. In the last stage panel ...Более

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