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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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Approximating the Stieltjes integral by using the generalized trapezoid rule

Avıt ASANOV | Mustafa Haluk ÇELİK

Accurate approximations for the Stieltjes integral by the generalized trapezoid rule. The generalized trapezoid rule is established on the basis of the derivative of function with respect to strictly increasing function, defined in [9].

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Approximating the Stieltjes Integral Using the Generalized Midpoint Rule

Avıt ASANOV | Mustafa Haluk ÇELİK

Accurate approximations for the Stieltjes integral by the generalized midpoint rule. The generalized midpoint rule is established on the notion of the derivative of function with respect to the strictly increasing function defined in [9]. Keywords: Stieltjes integral; generalired midpoint rule; the derivative of the function with respect to the strictly increasing function; generalized formula of Taylor. 2010 Mathematics Subject Classification 26D15; 26A42.

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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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Changes and transformations in the bureaucratic administration of Kyrgyzstan: political elite and corruption = Перемены и преобразования в бюрократическом управлении Кыргызстана: политическая элита и коррупция

Ömer Faruk KARAMAN | Altınbek COLDOŞOV

One of the most important features that distinguishes ideal type bureaucracy from patrimonial bureaucracies is their relations with politics. These relations, determined within the constitutional framework, can operate in informal ways in some countries where traditional authorities are settled. Today, despite the existence of democratic rules and institutions in neopatrimonial countries, the ruling elites can influence bureaucracy within the scope of informal relations. In Kyrgyzstan, it is mentioned about the politics-bureaucracy relationship that takes shape around the presidents elected by ...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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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 ...More

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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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The causal effects of education on wages: Evidence from Kyrgyzstan

Zamira ÖSKÖNBAYEVA

This study uses a Mincerian earnings function to estimate the effect of education and experience on the wages of women working in developed business and trade center of Bishkek, Kyrgyztan. It employs a robust median regression and M Regression to estimate the functions for both public and private sectors. The paper also estimates the function using a least squared regression for comparison. Findings/Originality: The results show that returns to education for women employees in the private sector are higher than that of in the public sector. In contrast, the returns to experience for women empl ...More

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Global financial economic crisis transmission on the transition economy: Case of the Kyrgyz Republic

Cunus GANİEV

Purpose The global financial crisis hit the economy of the Kyrgyz Republic by the third wave of its transmission in early 2009. The purpose of this study is to examine the impact of the global financial economic crisis on the transition economy of the Kyrgyz Republic. As there is a low level of the Kyrgyz Republic's integration into the global financial and economic processes, it is obvious that channels of transmissions are different. Design/methodology/approach The empirical model is the vector autoregression approach. The quarterly data from 2005 to 2013 of the remittances from abroad, t ...More

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