Taylor Kuralı Kapsamında Merkez Bankası Politika Faiz Oranlarının Belirlenmesi
In: International journal of academic value studies, Volume 2, Issue 7, p. 95-106
ISSN: 2149-8598
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In: International journal of academic value studies, Volume 2, Issue 7, p. 95-106
ISSN: 2149-8598
Bu çalışmanın amacı literatür taraması yöntemini kullanarak gelişme kuramları arasındaki farklılıkları ortaya koymak ve Yeni Kurumsal İktisat çerçevesinde konuya son dönemde yapılan katkıları irdelemektedir. Gelişme kavramının kazandığı anlam kuramsal gelişmelere ve dönemin hâkim iktisat ekolüne göre değişim göstermektedir. Klasik iktisadın gelişme kavramını büyüme ile eşdeğer görmesi uzun dönem literatüre hâkim bakış açısı olmuştur. Fakat bu kuramlara dayalı politikaların gelişmekte olan ülkelerde uygulanmaya konması ile yaşanan ekonomik darboğazlar, bu kuramlarla elde edile neticelerin gelişme sorunlarını çözümleyemeyeceğini göstermiş; yeni arayışları da beraberinde getirmiştir. İktisadi gelişme konusunda yapılan ve ortodoks iktisat anlayışının hâkim olduğu analizler, gelişmenin yakın nedenlerine odaklanan kuramlar ile açıklanmaya çalışılmıştır. Gelişmenin yakın nedenleri yatırımlar yolu ile girdi miktarında ortaya çıkan teknolojik gelişimle sağlanan verimlilik artışlarına odaklanmaktadır. Heterodoks düşünce okulları ise gelişmenin nihai nedenleri toplumsal ve siyasal ortama yani kurumsal olgulara odaklanmaktadır. Ülkeler arasındaki gelişmişlik farklılıklarının nihai nedenlerini üzerine yakın dönemde birçok yaklaşım geliştirilmiştir. Bu yaklaşımlarda Yeni Kurumsal İktisat okulunun yazınları oldukça önemli bir yere sahiptir. Yeni kurumsal iktisat okulunun tekil bir gelişme teorisi olmamakla birlikte gelişme konusunda ortodoks iktisat ile heterodoks görüşler arasında üçüncü bir yol olarak tanımlanması mümkündür. ; The aim of this study is to clarify the differences between development theories by using the literature review method and to explain the recent contributions of New Institutional Economics. The meaning of development concept has changed according to theoretical developments and the dominant economic school of thought. Classical economics had the dominant perspective of the long term literature. However, the fact that economic crisis emerged with policies grounded of these theories could not solve the development problems and brought back with new way of searching. The development analysis dominated by the orthodox economy have been tried to explain immediate causes of development. Immediate causes of development focus on the productivity gains achieved by technological and productivity improvements coming from investments. On the other hand, heterodox schools of thought focuses the final causes of development dealing with the social and political environment related with institutional facts. Many new approaches focused on the final causes of development differences between countries recently. The literature of the New Institutional Economics School has an important place in these approaches. Although the New Institutional economic school is not a unique development theory, it is possible to define it is as a third way between Orthodox economics and heterodox views.
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In: Sosyoekonomi: scientific, refereed, biannual, Volume 24, Issue 30
ISSN: 1305-5577
In: Evaluation review: a journal of applied social research, Volume 48, Issue 1, p. 143-176
ISSN: 1552-3926
After the 2008 World Crisis, there is a view that the economic recovery has not been adequate. In this context, the debate on hysteresis and especially investment hysteresis has increased in the last decade. The aim of this study is to analyze the investment hysteresis and the basic dynamics of hysteresis in the Turkish economy. Structural break tests are used to identify hysteresis. Traditional and asymmetric causality tests are used to identify the fundamental dynamics of hysteresis. Investment, GDP, interest rate, and productivity variables are used to analyze investment hysteresis. Structural break tests were applied to the variables, while conventional and asymmetric causality tests were applied between investments and their determinants. Structural break tests prove the existence of hysteresis. According to the Granger causality test, there is no causality from interest rates, GDP and productivity to investments. The fact that interest rates have no effect on investments proves hysteresis. According to the asymmetric causality test, there is no relationship between interest rates and investments. There is an inverse relationship between GDP and investments. There is an asymmetric relationship between productivity and investments. The fact that productivity shocks cause asymmetric effects on investments makes productivity shocks the main dynamic of hysteresis. In addition, there is considerable evidence that the strong hysteresis and high uncertainty of TFP exacerbate investment hysteresis. Therefore, productivity shocks should be taken into account in policymaking for hysteresis.
In: Journal of international trade & economic development: an international and comparative review, Volume 32, Issue 6, p. 835-853
ISSN: 1469-9559
It is prepared related Phd Dissertation Institutions, Governance and Economic Development of Pınar Özdemir ; There is widespread agreement among economist that society has became an organization throughthe institutions. However, there is not a consensus about definition of institutions and in which way Robinson (2001) , defends a new perpective about role of institutions in development process. By using Schumpeterian creative destruction point of view, they have mentioned the importance ofpower relations and redustribution in order to explain development process. Aim of this paper is toexplain social conflict and political institutions role on economic development from the the period nineteenth century to today for Turkey where founded as a secular, nationalist Rebuplic that inheritor of multinetional theocratic Ottoman Empire. Founder philolosphy of Rebuplic was inhereted from collapsing period of Ottomans accompanied with political power relations formed by political institutions. Military- bureaucratic elites whose point of view is positivist, nationalist and Westernism created political institutions supporting their ideas. Political institutions as a main determinant of economic institutions supported their follower. New Republic foundation periods raised their own bourgeois and put constraints other groups. Therefore, social conflicts did not solved by political elites who do not want to lose their political power. This historical period haveeffected todays society because of causation too.
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In: Sosyoekonomi: scientific, refereed, biannual, Volume 24, Issue 27
ISSN: 1305-5577
In: Journal of financial economic policy, Volume 15, Issue 4/5, p. 444-484
ISSN: 1757-6393
Purpose
This study aims to offer an up-to-date estimate of capital flight from selected emerging Asian economies and examine the anti-growth phenomenon of capital flight by using annual data for the period 1981–2019.
Design/methodology/approach
The study relies on residual methods to derive the estimate of capital flight with necessary adjustments. It then applies the autoregressive distributed lag Bounds testing approach in examining the impact of capital flight on the economic growth of Asian emerging economies.
Findings
The study identifies capital flight as the attributor to the slower economic growth of the selected emerging economies of Asia.
Practical implications
Apart from appropriate policies addressing the issues causing capital flight, unleashing the way of private sector-led growth of the emerging countries with necessary policy, infrastructural, institutional and regulatory support can rather help them retain and repatriate domestic capital.
Originality/value
The capital flight estimates in earlier studies are antithetical as they differ in terms of definition and estimation procedure. Again, the growth effect of capital flight in these economies has received meager attention in research and policy debates. Furthermore, being country-specific or region-specific, existing studies are unable to compare the growth effect of capital flight for different emerging economies in this region. Examining the growth effects for a large number of countries separately based on a common estimate of capital flight can resolve these issues that this study aims to do.
In: Evaluation review: a journal of applied social research, Volume 48, Issue 1, p. 63-89
ISSN: 1552-3926
Increasing industrial activities trigger the intense use of fossil fuels and increase the number of carbon emissions in the atmosphere. Countries with a high share in current carbon emissions need to expand their use of renewable energy sources. Canada is an important energy producer and consumer globally. In this regard, its decisions are important for the future development of global emissions. This study examines the asymmetric effects of economic growth, renewable energy, and non-renewable energy consumption on carbon emissions in Canada from 1965 to 2017. In the first stage of the analysis, unit root testing was performed for the variables. For this, Lee-Strazicich (2003), ADF and PP unit root tests were used. The nonlinear ARDL method was used to analyze the relationship between variables. and Measures: In order to analyze the relationship between the variables in the established model, renewable energy consumption (%), non-renewable energy consumption (%), and carbon emissions (per capita-Mt). In addition, the economic growth (constant price 2010- US$) parameter was added to the model as a control variable. The findings support that energy consumption, economic growth, and renewable energy have an asymmetric effect on carbon emissions in the long run. The positive shock in renewable energy reduces carbon emissions, and a unit increase in renewable energy reduces carbon emissions by 1.29%. Besides, the negative shock in economic growth greatly deteriorates the quality of the environment; that is, a 1% reduction in economic growth causes emissions to increase by 0.74% in the long run. On the other hand, positive shocks in energy consumption have a positive and significant effect on carbon emissions. A 1% increase in energy consumption causes 1.69% carbon emissions. There are important policy implications for Canada to eliminate carbon emissions, increase the share of renewable energy sources and achieve its economic growth targets. In addition, Canada needs to reduce its consumption of non-renewable energy (such as gasoline coal, diesel, and natural gas).