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

Проблемы обеспечения продовольственной безопасности в Кыргызской Республике

Cumabek CAİLOV

Osmanli Devletinin Sosyal ve Ekonomik Hayatında Para Vakıflarının Rolü ve Muhasebe Uygulamaları

Yakup ÜLKER

Bu çalışma, Osmanlı Devleti’nde ekonomik ve sosyal hayata önemli katkıları olan para vakıflarını muhasebe bakış yönünden incelemektedir. Para vakıfları, bir yandan faaliyetleri için – iş adamlarının uygun bir ipotek karşılığında finansman ihtiyacını gidererek - gelir sağlamışlar; diğer yandan ise bu gelirlerle ihtiyaç sahiplerini, hastaneleri, eğitim kurumlarını ve aşevlerini desteklemişler; ilave olarak yeni hastane ve okullar yapmışlardır. Bu kurumlar, zamanlarında önemli rolleri üstlenmelerine ve bunlarla ilgili zengin arşiv kaynakları bulunmasına rağmen henüz yeterince incelenmemiştir. Bu ...More

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.

Turizme Dayalı Büyüme Hipotezinin Kuzey Kıbrıs Türk Cumhuriyeti için Geçerliliğinin Analizi = The analysis of tourism led growth hypothesis’s validity in the Turkish republic of northern cyprus

Zamira ÖSKÖNBAYEVA

Turizm bir ülkenin ekonomik, sosyal ve kültürel alanlarda kazanım elde etmesini sağlayan önemli hizmet sektörlerinden biridir. Bu nedenle özellikle turizm ve büyüme arasındaki ilişki araştırmacılar için önemli bir araştırma konusu olmuştur. Bu çalışmada turizm sektörünün ekonomik büyüme üzerinde etkili olacağı tezini savunan turizme dayalı büyüme hipotezi araştırılmaktadır. Turizme dayalı büyüme hipotezinde turizmdeki gelişmenin uzun dönemde ekonomik büyümenin önemli belirleyicisi olduğuna ilişkin nedenler ileri sürülmektedir. Bu hipotezin Kuzey Kıbrıs Türk Cumhuriyeti için geçerli olup olmadı ...More

Kırgızistan’da İthalatın Belirleyicilerinin Modellenmesi = Modeling the Determinants of Import in Kyrgyzstan

Zamira ÖSKÖNBAYEVA

Foreign trade plays an important role in development of each country. Kyrgyzstan, like other transition economies started to open up to foreign countries after achieving it's independence and began to practice it’s own foreign trade policies. But during a 21-year period, a surplus in the trade balance was recorded in 2000 and 2001. In other words, the country's economy has faced a chronic deficit of foreign trade. The main objective of this paper is to study the impacts of domestic income and exchange rate on imports by considering the period after 2000 through econometric method by using of m ...More

About problems of intensifying of partnership in central Asia = О проблемах расширения сотрудничества в центральной Азии

Turar KOYÇUYEV

Анализируется распад СССР и последовавший экономический кризис в его бывших республиках. Указываются ценности советского общества. Подчеркивается, что экономические, социальные, образовательные и культурные связи между странами — бывшими республиками бывшего СССР разорваны. Между тем и в современных условиях независимые государства могут формировать единые экономические, научно-образовательные и культурно-гуманитарные пространства, сохраняя суверенитет. Необходимо учитывать масштабы стран. Например, Киргизии целесообразно выходить на контакты с конкретными субъектами РФ, в частности экспортиру ...More