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Reduced inequalitiesReduce inequality within and among countries
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Crowding-out (or -in) effect in transition economies: Kyrgyzstan case

Cunus GANİEV

Purpose: The crowding-out and crowding-in effects have been at the core of arguments among economists regarding the influence of government spending on private investment. This study aims to examine the crowding-out (or -in) effect of public spending on private investment in the transition economy of Kyrgyzstan. Design/methodology/approach: The empirical model is an autoregressive distributed lag (ARDL) and the vector autoregression approach (VAR). Monthly data from 2005 to 2013 of the private investment, government expenditures, remittances from abroad and broad money data were used in the em ...More

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Exponentially Convex Functions on the Coordinates and Novel Estimations via Riemann-Liouville Fractional Operator

Ercan ÇELİK

In this study, the modification of the concept of exponentially convex function, which is a general version of convex functions, given on the coordinates, is recalled. With the help of an integral identity which includes the Riemann-Liouville (RL) fractional integral operator, new Hadamard-type inequalities are proved for exponentially convex functions on the coordinates. Many special cases of the results are discussed. Keywords: hadamard-type inequalities; rectangle

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Capital liberalization, growth and moral hazard: Lessons from the global financial crisis

İbrahim Halil SUGÖZÜ

The 2008 global crisis, initiated in the USA, a developed country, is significant as it's the last global crisis caused by capital flows. This study investigates the link between capital account liberalization and economic growth during the 2008 global crisis in 105 countries, including moral hazard. Furthermore, it considers portfolio equity and debt flows as asset characteristics and tests two moral hazard channels (i.e., sudden stop and credit booms) employing the OLS estimation technique. The findings show that capital inflows promote growth, with portfolio equity flows having more contrib ...More

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Remittances and labor supply of the left-behind youth: Evidence from Kyrgyzstan

Kamalbek KARIMŞAKOV | Burulça SULAYMANOVA | Raziyahan ABDİYEVA

This paper examines whether remittances from international migration impact on the occupational choice of left-behind youth in Kyrgyzstan. Labor supply is analyzed both at the extensive and intensive margins using cross-sectional data for 2011. To overcome endogeneity concerns, an instrumental variable approach was implemented. Findings demonstrate that migration, rather than remittances, pushes the left-behind youth to become unpaid family workers. This is explained by the substitution effect as the youth left behind are called upon to replace the migrant labor. Moreover, this effect is heter ...More

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Var - analysis of global financial economic crisis impact on public budget and unemployment: evidence from the economy of the Kyrgyz Republic

Cunus GANİEV

The Global financial crisis hit the economy of the Kyrgyz Republic by the third wave of its transmission in the early of 2009. The article examines the impact of the Global financial economic crisis on the public budget and unemployment of the Kyrgyz Republic. We analyzed the transmission of the crisis on the public budget firstly and its effect on unemployment level by using the vector autoregression approach (VAR) and quarterly data for 2005–2013 within the framework of IS-LM model for small open economies with floating exchange rate. There is an inverse relationship between the public budge ...More

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Communicating with Voters in Social Networks: The Case of 2011 Presidential Elections in Kyrgyzstan

Elira TURDUBAEVA

This study analyzes online electoral campaigns of candidates for 2011 Presidential Elections in Kyrgyzstan in order to explore interactivity – as a way for improving participation, information, and interest, and the relationships between civil society and parties – within the websites and social network accounts of the candidates. The election involved 19 candidates to the presidency. Total 13 websites, 5 Facebook accounts, 6 Twitter accounts and 4 Odnoklassniki of candidates were monitored during election campaign period of 25 September and 27 October 2011.

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Kyrgyzstan: In search for stability

Yunus Emre GÜRBÜZ

In the last two decades, Kyrgyzstan has searched for stability while swinging on a pendulum between democratic reforms and suppression of democracy. Political changes in Kyrgyzstan started with the liberal democratic promises of President Akayev in 1990 and President Bakiyev in 2005, but they both ended with disillusionment. The state's capacity had to be reestablished in the post-Soviet period, which was sought to be institutionalized by authoritarian measures. The failure of the authoritarian path proves that the people of Kyrgyzstan are more open to a parliamentary democracy, where the mult ...More

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Migration processes in contemporary Kyrgyzstan = Миграционные процессы в современном Кыргызстане

Kusein İSAEV

Анализируется историческое изменение облика евразийского про странства через призму процессов миграции, с периодизацией их на конкретные этапы, которые явились основным трансформирующим фактором. Рассматривая феномен волнообразной “постсоветской миграции”, автор смещает акцент на но вые интеграционные веяния, актуализирующиеся идеи единого экономического пространства, сотрудничества (ШОС, БРИКС, ТС и др.) в рамках еразийского про странства. - Ключевые слова: Евразия, евразийское пространство, кочевой образ жизни, миграция, постсоветская миграция, глобализация, интеграция, укрепление евразийск ...More

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Heteroscedastic probit model: An application of home ownership in Turkey

Ebru ÇAĞLAYAN AKAY

This study examines the factors affecting the possibility of owning a house in Turkey using probit models. Moreover, it focuses on the heteroscedasticity problem that is ignored in most of the probit applications. The results obtained from the study indicate that besides the demographic characteristics of the head of the household, education, employment, and income are also influential factors in regard to home ownership. Besides these things, evidence indicates that the choice to live in either rural or urban areas has a significant impact on home ownership.

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A case study of foreign direct investment in Kyrgyzstan

İbrahim KELEŞ

For developing or poor countries that do not have substantial natural resources that can be used in their economic development, foreign direct investment (FDI) may play an important role considering the inability of such countries to modernize their industries and produce industrialized products. One the benefits of FDI is the opportunity for local firms to learn from experiences and capabilities of foreign firms. Kyrgyzstan is a poor and newly independent country of the former Soviet Union (FSU). This region is one of the last areas to which foreign investments have been flowing. Garibaldi et ...More

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What Defines the University Choice? The Case of Higher Education in Kyrgyzstan

Seyil NAJİMUDİNOVA | Rita İSMAİLOVA | Zamira ÖSKÖNBAYEVA

This study analysed the effectiveness of university promotion methods and factors affecting applicants' choices. The study used a quantitative approach with a sample of 7839 university applicants. Results show that the most influential factor affecting university choice is the economic factors such as tuition fees, scholarships, etc.; nevertheless, family income is not among them. Education quality and academic staff also affect the choice. Besides, there were differences in the factors such as gender, region, family structure and secondary school background of the applicants.

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Direct and inverse approximation theorems of functions in the Orlicz type spaces S-M

Fahreddin ABDULLAYEV

In the Orlicz type spaces S-M, we prove direct and inverse approximation theorems in terms of the best approximations of functions and moduli of smoothness of fractional order. We also show the equivalence between moduli of smoothness and Peetre K-functionals in the spaces S-M. (C) 2019 Mathematical Institute Slovak Academy of Sciences

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