Ekonomi Bölümü Koleksiyonu

Permanent URI for this collectionhttps://gcris.khas.edu.tr/handle/20.500.12469/57

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Now showing 1 - 9 of 9

Citation Count: 11
Competition and Monopoly in the U.s. Economy: What Do the Industrial Concentration Data Show?
(Sage Publications, 2021) Davis, Leila; Orhangazi, Özgür
A recent series of academic studies, think-tank reports, and news articles shows widespread attention to rising industrial concentration and market power in the U.S. economy. In this paper, we focus on concentration in the U.S. nonfinancial corporate sector to make three contributions to the literature. First, we use examples from the debate on industrial concentration to show that there are often-divergent predictions in the theoretical literature surrounding the expected consequences of concentration and monopolization for nonfinancial firms. Second, we use industry-level concentration data to describe recent trends in average concentration. We show that, while concentration increases across the majority of industries after the late 1990s, the retail and information-services sectors are particularly key for understanding recent trends in average industrial concentration. Third, we link our industry-level analysis with firm-level data to describe the relationship between industrial concentration and nonfinancial corporations' profitability, markups, and investment. Consistent with the ambiguities in the theoretical literature, we find that these relationships are not uniform: while some highly concentrated industries confirm standard expectations with high markups, high profitability, and low investment rates, other highly concentrated industries earn lower-than-average markups and profits, suggesting that - in some industries - increased concentration and intensified competition may go hand in hand.
Citation Count: 9
Determinants of Investment in Turkey: a Firm-Level Investigation
(Routledge Journals Taylor & Francis Ltd, 2019) Gezici, Armağan; Orhangazi, Özgür; Yalçın, Cihan
In this article we analyze the financing constraints-investment link for the case of Turkey between 1996 and 2013. As different from the existing studies on Turkey we use a more comprehensive data set that includes both publicly-traded and privately-owned firms and analyze the differences in constraints across small- and medium-sized firms and large firms. In addition to the commonly used cash-flow sensitivities we use alternative measures of constraints build from multiple firm specific variables. We find that small- and medium-sized manufacturing firms in Turkey are subject to financing constraints regardless of the measure used.
Citation Count: 3
Does Migration Contribute To Women's Empowerment? Portrait of Urban Turkey and Istanbul
(Routledge Journals Taylor & Francis Ltd, 2019) Eryar, Değer; Tekgüç, Hasan; Toktaş, Şule
This article empirically investigates the impact of internal migration on women's empowerment in urban areas of Turkey. Based on data from a nationally representative household survey we find that migration exerts a positive impact in urban settings through improvements in educational attainment and labor market outcomes. Migration contributes to women's empowerment by raising their education levels and lowering the gap in schooling between men and women. Migration also allows migrants both men and women and particularly those with tertiary education to access jobs and occupations in high wage regions like Istanbul. However unlike in education a gender wage gap persists even after migration.
Citation Count: 13
A Dynamic Game Theory Model for Tourism Supply Chains
(Sage Publications, 2021) Keskin, Kerim; Ucal, Meltem Şengün
This article contributes to the game-theoretic analysis of tourism supply chains. We start with a baseline model including three types of agents: (a) one theme park, (b) multiple accommodation providers, and (c) multiple tour operators. We investigate the strategic dynamics (i.e., collaboration and competition) embedded in a market with two different tourism supply chains, and then we extend our model to an infinite-horizon repeated game arguing that agents would face the same decision problem in each week of every holiday season in each year. We show how agents in a tourism supply chain end up with higher profits in any given period of a repeated game compared with their profits in the static version of the game.
Citation Count: 2
Heterogeneous Effects of Minimum Wage on Labor Market Outcomes: a Case Study From Turkey
(Walter de Gruyter, 2020) Işık, Enes; Orhangazi, Özgür; Tekgüç, Hasan
We assess the effects of a sharp minimum wage increase on wages, informality, and employment in Turkey, a large developing economy with one of the highest minimum wage-to-average wage ratios among OECD countries and widespread discrepancies between labor market outcomes of women and of men. We look at the quasi-experimental 2016 minimum wage increase and pay attention to identifying information coming from demographic groups. We find that the increase in the minimum wage had an economically substantial and statistically significant positive impact on wages. Despite the positive wage effects of the increase, we find no negative employment effects. However, we show that the minimum wage increase may have caused an increase in the share of informal employment among workers with less than tertiary education, especially for such workers working for small firms
Citation Count: 12
Is It Merely a Labor Supply Shock? Impacts of Syrian Migrants on Local Economies in Turkey
(Sage Publications, 2021) Cengiz, Doruk; Tekgüç, Hasan
The authors use the occurrence of a large and geographically varying inflow of more than 2.5 million Syrian migrants to Turkey between 2012 and 2015 to study the effect of migration on local economies. They do not find adverse employment or wage effects for native-born Turkish workers overall or for those without a high school degree. These results are robust to a range of strategies to construct reliable control groups. To explain the findings, the authors document the importance of three migration-induced demand channels: the complementarity between native and migrant labor, housing demand, and increased entrepreneurial activities.
Citation Count: 53
Multidirectional Relationship Between Energy Resources, Climate Changes and Sustainable Development: Technoeconomic Analysis
(Elsevier, 2020) Ucal, Meltem Şengün; Xydis, George
Global changes in temperature will likely change energy use and electricity production capacity. Considering the relationship between climate change and energy resource use, changes in temperature and the frequency and intensity of extreme events will affect how much energy is produced and consumed. The green economy and green growth are located at the heart of the fight against climate change in creating sustainable development. This paper considers the multidirectional relations between climate change, energy resources, and sustainable development including the perspective of a green economy via a technoeconomic analysis. A link among energy resources, climate changes and sustainable development has been displayed via a technoeconomic analysis in the case study, which was focused on taking into consideration the needs of the hydroponic units, the product selling price, the electricity price of the wind farm (WF), and at the same time the energy demand, under a nexus approach. Via the technoeconomic analysis, it was proven that moving on to smaller investments of 2 MWs is more efficient compared to larger projects e.g. 18 MWs, however, this cannot be considered immediately as the preferred solution since it is always a matter of impact on the local society.
Citation Count: 2
Overcoming the Egyptian Cotton Crisis in the Interwar Period: the Role of Irrigation, Drainage, New Seeds, and Access To Credit
(Blackwell Publishing, 2021) Panza, Laura; Karakoç, Ulaş
After experiencing a period of spectacular growth during the late nineteenth century, the Egyptian cotton sector underwent a phase of stagnation, which was followed by a gradual and steady increase in output during the interwar period. Drawing on a new panel dataset at the province–year level, this article explores the determinants of the upturn in cotton output, running a horserace between credit, seed technology, and infrastructure. In order to address endogeneity concerns, an instrumental variable approach is adopted, using a modified version of Bartik's shift-share instrumental variable. Our results provide supporting evidence that peasants switched to a lower-yielding cotton variety as a response to changes in relative price. Moreover, our production function estimates show that two key factors had a positive impact on output growth: credit availability and the adoption of new cotton varieties.
Citation Count: 2
Unveiling the Effects of a Headscarf Ban: Evidence From Municipal Jobs in Turkey
(Academic Press Inc., 2020) Çörekçioğlu, Gözde
Religious conservatism is often associated with patriarchal attitudes and deterioration of women's rights. This conventional wisdom has motivated ubiquitous policies that limit public expressions of religion and emphasize secular values. This paper demonstrates that a policy change which undermines secularity ends up empowering women. The current article takes advantage of a unique divergence in political institutions that occurred in Turkey's recent history to explore how revoking a headscarf ban affected employment outcomes of women in the public sector. In a difference-in-discontinuities setting, I exploit the before/after discontinuous policy variation and compare female employment within municipalities that have Islamist and secular mayors. I find that eliminating legal obstacles against observant Muslim women in the labor market improves female employment in Islamist municipalities. Yet, when women are not allowed to wear headscarves to work, Islamist mayors employ less women vis-à-vis secular mayors. Overall, findings point to unintended consequences of headscarf bans on pious women.

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