Ekonomi Bölümü Koleksiyonu

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

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Now showing 1 - 13 of 13

Citation Count: 52
Assessing the importance of international tourism for the Turkish economy: a social accounting matrix analysis
(Elsevier Science, 2012) Akkemik, K. Ali; Akkemik, K. Ali
The international tourism sector has grown rapidly in Turkey since the 1980s and Turkey ranks among the top ten countries in terms of tourist arrivals and receipts. Previous studies on international tourism in Turkey are partial equilibrium studies which emphasized the importance of the sector for foreign exchange earnings employment creation and economic growth. The social accounting matrix (SAM) modeling approach is superior to partial equilibrium analysis as it takes into account intersectoral linkages. This paper analyzes the contribution of international tourism to the Turkish economy using two SAMs for 1996 and 2002 respectively. Two analyses are conducted using the SAM impact model: (i) sectoral comparison of GDP elasticities and (ii) SAM impact analysis of international tourism on output value-added and employment. The results show that the GDP elasticity of international tourism is relatively low and the impact of foreign tourist expenditures on domestic production value-added (GDP) and employment in Turkey are modest. The results imply the possibility of leakage of foreign tourist expenditures out of the economy. (C) 2011 Elsevier Ltd. All rights reserved.
Citation Count: 6
Can law impose competition? A critical discussion and evidence from the Turkish electricity generation market
(Pergamon-Elsevier Science Ltd, 2014) Oğuz, Fuat; Akkemik, K. Ali; Göksal, Koray
Electricity markets have undergone regulatory reforms since the early 1980s around the world. Technical analyses of these reforms usually pay lip service to the influence of politics over regulatory processes. Existing studies examine certain aspects of the market such as demand pricing and efficiency and they touch upon political issues only passingly when economic models cannot provide sufficient explanation This approach problematically takes politics as an ad hoc variable. This study shows that electricity is intrinsically a 'political good' and argues that any meaningful reform effort should take institutions as the starting point rather than a residual. The argument that politics has to be an endogenous variable in any model aspiring to explain behavior in electricity markets is demonstrated in the paper. The evidence for the political good character of electricity is found by examining the Turkish regulatory reform for Which it is argued that there is not a satisfactory relationship between expected and realized gains. (C) 2013 Elsevier Ltd. All rights reserved.
Citation Count: 17
Declining Poverty and Inequality in Turkey: The Effect of Social Assistance and Home Ownership
(Routledge Journals Taylor & Francis Ltd, 2018) Tekgüç, Hasan
Social assistance has become prominent in combating poverty in developing countries and has also contributed to the popularity and election success of governments implementing it. In this paper I employ household surveys and investigate the effect of social assistance on poverty and income inequality in Turkey. I also review the recent literature on poverty as well as different components of social protection spending: education health pensions and housing. In the empirical analysis I show that pensions still constitute the bulk of public transfers to households. Moreover home ownership ameliorates poverty and inequality for Turkey. Despite its modest amounts social assistance reduces poverty and its marginal effect on income inequality is larger than other income sources. These findings suggest that increases in social assistance budgets should accompany other policy measures in combating poverty and inequality.
Citation Count: 13
Detecting structural changes using wavelets
(Academic Press Inc Elsevier Science, 2015) Yazgan, M. Ege; Ozkan, Harun
We propose a powerful wavelet method to identify structural breaks in the mean of a process. If there is a structural change in the mean the sum of the squared scaling coefficients absorbs more variation leading to unequal weights for the variances of the wavelet and scaling coefficients. We use this feature of wavelets to design a statistical test for changes in the mean of an independently distributed process. We establish the limiting null distribution of our test and demonstrate that our test has good empirical size and substantive power relative to the existing alternatives especially for multiple breaks. (C) 2014 Elsevier Inc. All rights reserved.
Citation Count: 24
Energy consumption and income in Chinese provinces: heterogeneous panel causality analysis
(Elsevier Science, 2012) Akkemik, K. Ali; Göksal, Koray; Li, Jia
Recently energy production in China fell behind energy consumption. This poses important challenges for the rapidly growing Chinese economy. As a consequence the causal relationship between energy consumption and GDP is an important empirical issue. This paper examines Granger causality between energy consumption and GDP in China using province-level data. The current paper extends the Granger causality analysis employed in previous studies by taking into account panel heterogeneity. Specifically four different causal relationships are examined: homogeneous non-causality (HNC) homogeneous causality (HC) heterogeneous non-causality (HENC) and heterogeneous causality (HEC). HC and HNC hypotheses are rejected for causality in either direction from GDP to energy or from energy to GDP which implies that the panel made up of Chinese provinces is not homogeneous. Then heterogeneous causality tests (HEC ad HENC) are conducted for each province. For the causality running from GDP to energy 19 provinces exhibit HEC and 11 provinces exhibit HENC. For the causality running from energy to GDP 14 provinces exhibit HEC and 16 provinces exhibit HENC. The results suggest that the Chinese government should incorporate a regional perspective while formulating and implementing energy policies. (C) 2012 Elsevier Ltd. All rights reserved.
Citation Count: 54
Energy consumption-GDP nexus: heterogeneous panel causality analysis
(Elsevier Science Bv, 2012) Akkemik, K. Ali; Göksal, Koray
Existing studies examining the Granger causality relationship between energy consumption and GDP use a panel of countries but implicitly assume that the panels are homogeneous. This paper extends the Granger causality relationship between energy consumption and GDP by taking into account panel heterogeneity. For this purpose we use a large panel of 79 countries for the period 1980-2007. Specifically we examine four different causal relationships: homogeneous non-causality homogeneous causality heterogeneous non-causality and heterogeneous causality. The results show that roughly seven-tenths of the countries exhibit bi-directional Granger causality two-tenths exhibit no Granger causality and one-tenths exhibit unidirectional Granger causality. (C) 2012 Elsevier B.V. All rights reserved.
Citation Count: 12
Is It Merely a Labor Supply Shock? Impacts of Syrian Migrants on Local Economies in Turkey
(Sage Publications, 2021) Tekgüç, Hasan; 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: 67
Macroeconomic and institutional determinants of financialisation of non-financial firms: Case study of Turkey
(Oxford University Press, 2014) Akkemik, K. Ali; Özen, Şükrü
We observe that industrial firms in Turkey have shifted substantial amounts of working capital from production activities to the purchase of high-yield interest-bearing assets most notably public bonds to ensure immediate short-term interest revenues. Introducing the new and historical institutional literatures to the financialisation research this article empirically examines the influences of macroeconomic and institutional factors on non-financial firms' financialisation behaviour for the period 1990-2002. The findings from panel regression analyses using data from 41 firms listed on the Istanbul Stock Exchange indicate that both macroeconomic and institutional factors influence financialisation behaviour to different degrees. Turkish non-financial firms particularly engage in financialisation as a response to highly uncertain macroeconomic conditions. The findings indicate that the key characteristics of state-organised business system in Turkey such as firms' ties with the government and family ownership are not conducive to financialisation behaviour.
Citation Count: 17
Measuring energy intensity in Japan: A new method
(Elsevier, 2017) Zaim, Osman; Gazel, Tuğçe Uygurtürk; Akkemik, K. Ali
Energy intensity and energy conservation have been important pillars of energy policies in Japan. Recently the government has introduced new initiatives to enhance energy efficiency and reduce energy intensity. We analyze the energy intensity in Japan for the period 1973-2006 by proposing a new method which takes into account all other inputs used in production and corrects for the bias in the traditional energy intensity measure. We show that the traditional energy intensity measure has serious flaw. The traditional measure overestimates actual energy intensity before the mid-1980s and largely underestimates afterwards. It is found that aggregate energy intensity has risen remarkably from 1991 to 2001. The main cause of this rise is the rapid rise in energy intensity in manufacturing and energy sectors. (C) 2016 Elsevier B.V. All rights reserved.
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) Karakoç, Ulaş; 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: 196
The role of trade and FDI for CO2 emissions in Turkey: Nonlinear relationships
(Elsevier, 2019) Haug, Alfred Albert; Ucal, Meltem Şengün
This paper examines the effects of foreign trade and foreign direct investment (FDI) on CO2 emissions in Turkey. We consider linear and nonlinear ARDL models and find significant asymmetric effects of exports, imports and FDI on CO2 emissions per capita. However, FD1 has no statistically significant long-run effects. In the long run, decreases in exports reduce CO2 emissions per capita but increases in exports have no statistically significant effects. Increases in imports push up CO2 emissions per capita, while decreases in imports have no long-run effects. On the other hand, CO2 intensity, which measures CO2 emissions per unit of energy, is not influenced by exports and imports, nor by FDI. Instead, it is affected positively by financial development and urbanization. Also, we find that an environmental Kuznets curve is present for both CO2 measures so that increases in real GDP per capita have led to reductions in CO2 emissions for at least the most recent decade, controlling for other confounding factors. Furthermore, the sectoral shares of CO2 emissions in total CO2 emissions change asymmetrically with foreign trade for two of four sectors, with export increases leading to lower CO2 shares and imports having the opposite effect. (C) 2019 Elsevier B.V. All rights reserved.
Citation Count: 1
Who wants left-wing policies? Economic preferences and political cleavages in Turkey
(Routledge Journals, Taylor & Francis Ltd, 2020) Tekgüç, Hasan; Harma, Mehmet; Tekgüç, Hasan
We administer a survey of economic policy preferences to a representative sample of the Turkish voting-age population. We show that policy preferences are distributed in non-linear ways that are at odds with what could be expected from a conventional left-right division. We find that while objective socioeconomic differences are bad at predicting economic policy preferences, the latter are distinctly associated with politically salient cleavages built on religiosity and ethnicity. We also examine how preferences of each party's voters compare with party programmes.

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