A Nonlinear Panel ARDL Analysis of Pollution Haven/Halo Hypothesis

Zamira ÖSKÖNBAYEVA

There is a growing popularity for the nonlinear econometric approaches, since linkages among variables are not always linear. Nonlinear approaches provide a broader range of knowledge compared to the linear model. This research aims to assess the impact of foreign direct investment on pollution. To capture the potential asymmetries resulting from rise and fall in the foreign direct investments, the nonlinear panel autoregressive distributed lag approach is employed. In the empirical analysis, annual data of selected 22 transition economies from 1995 to 2016 is utilized. The findings highlighte ...More

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

The relationship between long-term portfolio investments and growth in the context of asset characteristics and development level

İbrahim Halil SUGÖZÜ

This study investigates the linkage between portfolio investment and economic growth in 18 developed and 27 developing countries. Furthermore, it compares and analyzes interest-bearing and non-interest-bearing assets and the economic development level. The results of our analysis show that long-term portfolio investment is positively associated with economic growth in developing countries. Long-term portfolio investment through non-interest-bearing assets contribute more to economic growth in developing countries. However, stocks and long-term bond portfolio investment are unrelated to economi ...More

WHICH HYPOTHESIS IS VALID FOR OECD COUNTRIES IN THE CONTEXT OF THE RELATIONSHIP BETWEEN ENERGY CONSUMPTION AND ECONOMIC GROWTH? A PANEL DATA ANALYSIS = Bзаимосвязь между энергопотреблением и экономическим ростом в странах OЭСP: анализ панельных данных

İbrahim Halil SUGÖZÜ

In the study, panel data analysis was conducted on 32 OECD countries covering the period 1990-2018. To analyse the effect of energy consumption on economic growth, first, a cross-section de-pendence test of the variables was carried out, then CADF Test, which is the most suitable unit root test based on the obtained results results, was applied. According to the findings of the Hausman, autocor-relation, and heteroscedasticity tests, it has been decided to use the Driscoll-Kraay test for the model's forecast. The forecast results demonstrate that energy consumption positively affects economic ...More

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

Does Wagner’s Hypothesis Explain the Dynamics of Health Expenditures in Transition Countries?

Zamira ÖSKÖNBAYEVA

he purpose of this study is to analyze the short and long run causal relationship between public health expenditure and GDP per capita in transition economies within the context of the Wagner hypothesis. For the period 2000-2020, the empirical analysis was conducted using a dataset covering 22 transition countries: Latvia, Belarus, Czechia, Georgia, Bulgaria, Hungary, Estonia, Croatia, Moldova, Bosnia and Herzegovina, Slovenia, Ukraine, Armenia, Lithuania, Russian Federation, Slovak Republic, Romania, Turkmenistan, Uzbekistan, Tajikistan, Kyrgyz Republic, and Kazakhstan. Wagner emphasizes that ...More

Investigating the factors affecting the PISA-based test performance of Asian students

Zamira ÖSKÖNBAYEVA

Purpose - This study investigates the factors affecting the learning outcomes of Asian students. Methods - The effects of both educational inputs and economic and socioeconomic variables on the PISA scores of 10 Asian countries (Hong Kong, Indonesia, Japan, Singapore, Macau, Korea, Turkey, Israel, Qatar, and Thailand) for the years 2006, 2009, 2012 and 2015 were examined using unbalanced panel data. Findings - The results show that country -level economic factors strongly affect academic achievement. Furthermore, country -level economic factors dominate the other explanatory factors in the num ...More

Does more energy consumption support economic growth in net energy-importing countries?

Metin BAYRAK

Purpose – This study aims to examine the effects of energy consumption on economic growth by means of a panel data analysis of 75 net energy-importing countries for the period 1990 to 2012. Design/methodology/approach – For the purpose of the analysis, the countries are classified into two groups, and each group is then classified into subgroups. The first group is formed based on the energy import dependence of the countries and is classified into two subgroups according to whether their dependence is greater than or less than 50 per cent. The second group is formed based on the income level ...More

Relationship between Government Expenditure and Economic Growth in Transition Countries: Case of Kyrgyzstan and Tajikistan = Geçiş Ülkelerinde Devlet Harcamaları ile Ekonomik Büyüme İlişkisi: Kırgızistan ve Tacikistan Örneği = Взаимосвязь между государственными расходами и экономическим ростом в странах с переходной экономикой: на примере Кыргызстана и Таджикистана

Raziyahan ABDİYEVA | Damira BAYGONUŞEVA | Cunus GANİEV

After the collapse oi Soviet Union the membercountries was accompanied by economic and political crises. Each country has chosen own monetary and fiscal policy considering the economic situation. Even though that their economic situation is similar, Kyrgyzstan and Tajikistan are pursuing opposite fiscal policy. More precisely, Kyrgyzstan in recent years has changed its fiscal policy towards expansionary policy, when Tajikistan is continuing contractionary policy. This paper analyses the long and the short-run causality relationships between government expenditure and economic growth in Kyrgyzs ...More

Повышение экспортного потенциала отраслей АПК Кыргызстана в условиях интеграции

Cumabek CAİLOV

Vergi Bilincini Etkileyen Demografik ve Siyasi Faktörler: Kırgızistan Örneği = Demografic and Political Factors Affecting Tax Consciousness: Case of Kyrgyzstan

Raziyahan ABDİYEVA | Tolkun CUMAKUNOVA

Vergiler devletin temel gelir kaynağıdır. Vergi sisteminin etkinliği mükelleflerin kendi yükümlülüklerini ne kadar tam ve doğru yerine getirme isteklerine bağlıdır. Özellikle, mükelleflerin vergi bilinçleri gibi sosyo-psikolojik faktörü vergiye olan tutum ve davranışları üzerinde etkili olan önemli etkenlerden sayılabilir. Vergi bilinci mükelleflerin ödedikleri vergilerin farkına vardıklarını, bu vergilerin niçin ödenmesi gerektiği ve nasıl kullanıldığı hakkında bilgi sahibi olduklarını bildirmektedir. Böyece, vergi bilinci ülkede vergi kültürünün oluşmasında ve kamu maliyesinin halk tarafında ...More

KAMU HARCAMALARI VE GELİRLERİ ARASINDAKİ İLİŞKİNİN TEST EDİLMESİ: KIRGIZİSTAN ÖRNEĞİ

Hakan ÇETİNTAŞ | Damira BAYGONUŞEVA

Reel ekonominin istikrarlı büyümesi ve fiyat istikrarı açısından, sağlıklı bir maliye politikası büyük bir önem taşımaktadır. Kamu harcamaları ile kamu gelirleri arasındaki ilişkinin bilinmesi mali dengesizliklerin giderilmesinde de ayrıca önemlidir. Bu çalışmada ARDL ve VAR yaklaşımları yardımıyla Kırgızistan ekonomisinde kamu gelirleri ile harcamaları arasındaki ilişki 1995-2014 dönemi için araştırılmıştır. Bulgular Kırgızistan ekonomisinde ‘vergi-harcama hipotezinin’ geçerli olduğunu göstermektedir. Diğer bir ifadeyle, araştırılan dönem içinde kamunun reel gelirlerinde meydana gelen artışın ...More