Sosyoekonomi Journal

2005 - 2024

From Sosyoekonomi Society
Cihan St. 27/7 06430 Sihhiye Ankara Turkey.
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2024, articles 32(60)

Türkiye’s Green Economy Performance in Compliance with the European Green Deal: Assessment and Perspectives

Gülay Küçük and Betül Yüce-Dural

Balance Sheet Effects of Exchange Rate Changes and Debt Dollarisation: An Econometric Analysis on the Turkish Real Sector

Mücahid Samet Yilmaz and Mustafa Acar

The Effects of Public Investments and Fiscal Incentives in Free Port Cities on Economic Growth Dynamics at Local Level in Türkiye

Deniz Abukan, Cem Akin and Esra Doğan

Attitudes of Tourism Product Sellers towards Tourism and Tourists in the Eastern Antalya Tourism Development Region

Cemali Sari and Başak Sahara Can-Akbalik

The Relationship Between Country Risk Premium, Loans and Macroeconomic Variables: Case of Türkiye

İlknur Eki̇nci̇, Aykut Eki̇nci̇ and Murat Can Genç

The Relationship Between Cost Stickiness and Earnings Management and Firm Characteristics: A Review on Borsa Istanbul

Gamze Sevi̇mli̇-Örgün and Mehmet Aygün

Asymmetric Causality Relationship Between Public Expenditures and Tax Revenues: Transition Economies Case

Emre Bulut and Dilek Çi̇l

The Strategies of Turkish Female Managers to Break Glass Ceiling

Yeşim Kaya and Gülay Tamer

Bilateral J-Curve Between Türkiye and Its Major Non-EU Trading Partners: Evidence from Both Linear and Non-Linear Approach

Alper Yilmaz

Do ESG Ratings Affect Stock Prices? The Case of Developed and Emerging Stock Markets

Yavuz Gül and Ceren Altuntaş

The Role of Work Stress in The Effect of Social Comparison on Social Anxiety: A Study on Aviation Industry Employees

Melis Soyer, Duygu Uludağ and Merve Mert

From Classical Political Economics to Neoclassical (Mainstream) Economics: The Ideological Reproduction and Depoliticization Process of Economics

Betül Sari-Aksakal

The Link Between Trade Openness, Economic Growth, Energy Use and Carbon Emissions: Analysis with a Conceptual Model Proposal

Suzan Oğuz

Validity of Capital Structure Theories in the Shipping Industry: An Application on U.S. Equity Markets

Berk Yildiz

Examining Fitness Centre Members' Perceived Risk, Attitude, and Behavioural Intentions in the Context of Brand Equity during the COVID-19 Pandemic

Beyza Gülteki̇n, Kadir Yağiz and Leyla Şentürk-Özer

Journey to Discover the Footprint of Tourism from the Perspective of Ecological Modernization

Nalan Işik

Solar Energy Production and Economic Growth: An Analysis for EU Countries

Meryem Fi̇li̇z-Baştürk

Impact of Corruption on Utility Prices: A Theoretical and Empirical Analysis for the Electricity Markets

Mustafa Kadir Doğan and Funda Altun

Do Increases and Decreases in Non-renewable Energy Consumption Have the Same Effect on Growth in Türkiye?

Serkan Göksu

The Impact of Carbon Emissions on Corporate Cost of Debt (COD): A Research on Borsa İstanbul (BIST) Sustainability Index

Filiz Özşahi̇n-Koç and Ali Deran

Regulation of Natural Monopoly: The Turkish Electricity Market

Özgün Akduran-Erol

2023, articles 31(56)

A Socioeconomic Analysis in Terms of Household Digital Technology Ownership

Behice Canatan, Gökhan Özbi̇lge and Egemen İpek

An Empirical Application on Determine the Economic Literacy Levels of Public Staff

Mehmet Polat

A Critical Contribution to the Evaluation of Contemporary Populism Literature

Hasan Faruk Uslu

Bibliometric Analysis of Publications in Artificial Intelligence and Marketing

Gül Eki̇nci̇ and Fatma Gül Bi̇lgi̇ner-Özsaatçi̇

Related Parties Transactions and Firm Value: Intermediate Effect of Sustainability Performance

Utku Şendurur and Bekir Gerekan

2021

The Influence of Human Resources on Organizational Performance: An Empirical Research on Youth CSOs Abstract: Civil society organizations (CSOs) have become complementary, supporting, and alternative actors in areas where public institutions and private sector organizations are insufficient or reluctant to produce social goods and services. Therefore, differentiation and failure in the organizational performance of the CSOs negatively influence sustainability, efficiency, and accessibility of goods and services that these CSOs provide. In many studies, significant relations were found between the organizational performance and the capacity of the CSOs. In parallel, the unique influence of human resources - as one of the significant components of the organizational capacity - on organizational performance is evaluated through the sample of 975 Youth CSOs randomly selected from 81 cities of Turkey in this research. Research data was gathered from a survey that was applied to representatives of these CSOs. The influence of human resources on organizational performance was tested and explained by multiple regression methods. Based on the research findings, it was seen that human resource variables of professional management, satisfaction from the management approach, satisfaction from the contribution of volunteers, number of paid workers, competence for work achievement, and organizational training influence the organizational performance of CSOs. Furthermore, policy recommendations were developed to improve the human resources and organizational performance of CSOs.Classification-JEL: C02, M10, M12, M53

Emrah Ayhan and Murat Önder

Preferences of Taxpayers for Public Expenditures and Preferences for Paying Taxes for These Expenditures: Turkey SampleAbstract: This study aimed to determine taxpayers' preferences for public expenditures and preferences for paying taxes for these expenditures in Turkey. First, the relevant literature was examined, and then a survey questionnaire was prepared for the study. In this study, in which 782 direct taxpayers from 12 provinces participated, it has been determined that they prefer higher public expenditure on education, health, and safety even if the tax payable by the taxpayer has to increase. The preferences over public expenditures and the preferences over their tax payments for these public expenditures were analysed according to the demographic variables of the province, gender, marital status, age, education level, and monthly personal income. The study's findings contribute to the creation of an expenditure program that would maximize the benefits of both taxpayers and policy makers

Yasemin Ariman and Mehmet Tunçer

An Empirical Analysis Regarding the Effect of Sukuk Outstanding on Growth in Turkey: 2010-2019Abstract: What is called Islamic finance today focuses on providing financial services in line with Islamic rules and ethos. Within the scope of Islamic finance developed since the 1970s, sukuk plays an essential role in Islamic banking (participation banking). In recent years, sukuk has also gained significant attention in Turkey. Despite its central role in Islamic banking and the increasing importance attached to it, the effects of sukuk on macroeconomic variables such as economic growth have not been studied in the literature extensively. Due to these reasons, this paper aims to conduct an econometric analysis about the effects of sukuk on Turkey's growth for the period of 2010-2019. The quarterly data is gathered from HMB (Treasure and Finance Ministry), TKBB (Participation Banks Association of Turkey), and MKK (Central Securities Depository of Turkey). ARDL bound test is utilized to examine the long-term effects of bonds and sukuk on economic growth. According to the results, both the governmental sukuk and the participation banking-based sukuk outstanding have statistically significant effects on Turkish growth. While the effect is positive for the former type, it is harmful to the latter. Nevertheless, for both types, the impact stays relatively minuscule. It is recommended that the governmental sukuk outstanding can be increased

Zeyneb Hafsa Orhan and Nurullah Tirman

Gender Differences in Smoking Behaviour: Analysing the Changes for the 2008-2014 Period in TurkeyAbstract: The motivations and reasons for smoking initiation, continuation, and cessation for women are different from men. This paper investigates the differences in smoking rate and intensity by gender in Turkey from 2008 to 2014. The results indicate significant differences in the decision to smoke and how much to smoke by gender. Results further indicate that the positive effects of the anti-smoking policies are fading away over time. Especially for women, the smoking and consumption levels are higher in 2014 than in 2008. This study argues that policies designed to combat the initialization and the intensity of smoking should account for the behavioural differences observed across genders

Dilek Başar, Selcen Öztürk and Shihomi Ara-Aksoy

The Impact of Media and Cultural Beliefs on Women’s Participation in Sports in Turkey: The Challenges faced by Turkish Women in Professional SportsAbstract: The fight for gender equality in Turkey extends as far as the sports sector of the economy. Although Turkey has recently seen a fast rise in the participation of women in sports, female athletes are still being marginalized for many reasons. The alarming levels of discrimination discourage females from entering into professional sports in Turkey and have inhibited the growth of the female sports sector in Turkey. This research aims to examine the different roles women have to take with emphasis on explaining the relationship between sports and politics in modern Turkey. The present study explores Turkish women's specific constraints and challenges in professional Sports. Qualitative data were generated from semi-structured interviews conducted with 142 female athletes (both amateur and professionals) across different cities in Turkey. The findings of the study indicate that family influence (χ= 4.39 of 5), wage inequality (χ = 4.31 of 5), media misrepresentation (χ = 4.16 of 5), inadequate sports facilities for women (χ = 4.12 of 5) and high levels of sexual harassment (χ = 3.89 of 5) are the constraints that must be addressed to improve the climate for female participation in sports significantly. The study highlights how these physical activities and sports programs play essential roles in increasing awareness of their importance and improving the overall perception of women in sports in Turkey.Classification-JEL: J16, J71, L83

Meltem İnce-Yeni̇lmez

An Evaluation on the GATT, the WTO’s Agreement on Safeguards, and the Dispute Settlement Procedure

Volkan Sezgi̇n

Adaptive Market Hypothesis and Return Predictability: A Hidden Markov Model Application in Borsa IstanbulAbstract: The adaptive market hypothesis (AMH) has recently attracted significant interest in the financial literature. The AMH has started to be considered an alternative to the efficient market hypothesis. In this respect, this study, first of all, examines the AMH for the BIST100 index of Turkey’s Borsa Istanbul stock exchange market by testing the return predictability. The applications are performed via automatic portmanteau and the generalized spectral (GS) tests using daily closing price data between January 1988 and December 2017. Secondly, the results of these tests are utilized for a hidden Markov model (HMM) application to examine the periods that yield return predictability. According to the results, it is observed that there is strong evidence for the validity of AMH within the scope of Borsa Istanbul’s BIST100. Additionally, the results of the HMM application confirm the periodic predictability regarding the determinants of the index.Classification-JEL: G1, G14, C12, C44

Hasan Arda Burhan and Eylem Acar

Causality Relationships Between Per Capita Income and Research and Development (R&D) Expenditures in Asian Tigers, China, and TurkeyAbstract: This study investigates the relationship between R&D expenditures and per capita income for Asian Tigers (Hong Kong, Korea, Singapore), China, and Turkey. For this purpose, the relationships between variables are investigated using the bootstrap panel causality test developed by Konya (2006). In the study, analyses are made using data between 1998 and 2016. According to the analysis results, there is a unidirectional causality relationship between R&D expenditures to per capita income in Hong Kong and Korea. On the other hand, there is a unidirectional causality relationship from per capita income to R&D expenditures in China and Turkey. The coefficients of these causality relationships are positive

Mustafa Kirca, Şerif Canbay, Veysel İnal and Sema Yilmaz-Genç

The Relationship between Stock Returns, Bitcoin Returns, and Risk Aversion: Evidence from a Multivariate GARCH Model

Ayşen Si̇vri̇kaya, Perihan İren and Tolga Omay

2020, articles 28(46)

Women Shelters as a Social Institution in Struggle against Violence Abstract: Violence against women is a social problem. While various public and private measures are taken to eradicate its existence, certain services are provided to protect women who have been already exposed to violence and to help them adopt a sustainable life thereafter through public and/or private institutions and organizations. Within this framework, “women’s shelters” in Turkey provide temporary services to victims of violence against women by rescuing them from violence, solving psycho-social and economic problems and preparing them for a better future. In this context, the aim of the research is to determine the roles and functions of the shelters in the struggle against violence against women. Descriptive research design was used in the research. In-depth interviews were conducted with 25 women staying in three shelters in İzmir province affiliated to the General Directorate on the Status of Women, Ministry of Family, Labor and Social Services of the Republic of Turkey. The data obtained from these interviews were deciphered and analysed with MAXQDA 18 qualitative data analysis program. In the light of the data obtained from one-on-one interviews, seven main themes were revealed. These themes are as follows: (i) the nature of violence against women, (ii) causes of violence against women, (iii) the societal support to the women victims of violence, (iv) the role of a “women’s shelter” in struggling violence against women, (v) conditions of the “women shelters”, (vi) sustainable living of women post-shelter and (vii) further suggestions for the improvements of “women shelters”

Sevda Demi̇rbi̇lek, Ayşenur Öktem-Özgür and Aliye Çoban

Examination of the Stationarity of Ecological Footprint and its SubComponents in the OECD CountriesAbstract: The basic aim of this study is to test the stationarity of the ecological footprint and its subcomponents with the Fourier KPSS unit root test, which takes both smooth and sharp structural breaks into consideration, in 12 selected OECD member countries over the period between 1961-2016. The analysis results detected that carbon emission and total ecological footprint variables for the USA; forest products footprint variable for Germany; forest products and total ecological footprint variables for Australia; fishery areas and forest products footprint variables for Austria; carbon emission, forest products and total ecological footprint variables for France; fishery areas and forest products footprint variables for the Netherlands; forest products and cropland footprint variables for England; cropland footprint variable for Italy; cropland and total ecological footprint variables for Japan; total ecological footprint variables for Canada and fishery areas and forest products footprints for Turkey are stationary at levels

Ali Eren Alper and Fındık Özlem Alper

Prediction of Gold Prices Using Multilayer Artificial Neural Networks Method

Yakup Söylemez

The Working Conditions of Freelance Journalists in Turkey Abstract: This study aims to analysis the working conditions of freelance journalists in Turkey. In this study, a mixed research design was adopted. Quantitative data were taken from the survey conducted with 300 freelance journalists and qualitative data were taken from one-to-one interviews with 15 freelance journalists. In addition, the data obtained from the expressions of the experiences of freelance employees in the activities carried out periodically with the “Ofissizler” and platform of Dünyada Mekân, which is the common solidarity network of freelancers, were also added. While the survey data were analysed with SPSS 20.0 package program, qualitative data were analysed with descriptive analysis technique. As a result of the research, it was revealed that freelance journalists’ roles changed in the sector. For instance, digital developments provide the opportunity to develop new skills in new jobs and careers, on the other hand, precarious work become widespread in the sector and they are experiencing important problems related to wages, social security, job security and union organization. On the whole, it is one of the first studies to present quantitative data among freelance journalists and it is unique in terms of addressing the issue not only in the context of labour relations but also in the transformation of journalism profession

Serpil Çi̇ğdem and Ekrem Erdoğan

Characteristic Features of Classical Age of the Ottoman Budgets: Tarhuncu Ahmed Pasha’s Budget

Hüseyin Güçlü Çi̇çek and Süleyman Di̇kmen

Food Security as Global Public Good: An Evaluation for OECD CountriesAbstract: Globalization has led to the increased importance of global public goods in public finance literature. Access to safe and sufficient food is one of these goods and services, where the benefits and harms are felt on a global scale without competition and exclusion. Food security is defined as health services that all people always have physical, social and economic access to safe, sufficient and quality food provided in hygienic conditions to meet their nutritional needs and food preferences for a healthy and active life. This study presents food safety assessment and policy recommendations for OECD countries using the Global Food Security Index

Melek Akdoğan-Gedi̇k

Estimating Electricity Consumption Levels in Dwellings Using Artificial Neural NetworksAbstract: Most of the studies on electricity consumption were conducted using econometric models and statistical methods. Studies that aiming at predicting electricity consumption levels using household characteristics and utilizing machine learning methods couldn’t be found in the literature. This study is aiming at presenting a model proposal that predicts the electricity consumption levels in dwellings as lower consumption and higher consumption classes, using household and dwelling characteristics. Artificial Neural Networks were utilized as a machine learning method in modeling phase. Data were gathered from Turkish Statistical Institution’s Household Budget Survey. The records having no electricity consumption were removed and mean electricity consumption was determined from remaining 32,765 households. Records above the mean were labelled as high-consumption class and that are below the mean were labelled as low-consumption class. ANN model training was carried out using 24,574 (70%) household data. Remaining 8,191 (30%) household data were used for testing the model. The success of the model was 75.11% at training phase, and it was 65.56% at testing phase. As a result, the model proposal predicting electricity consumption levels using household and dwelling characteristics to contribute electricity production and distribution planning is presented

Uğur Ercan, Sezgin Irmak, Kerim Kürşat Çevi̇k and Erokan Canbazoğlu

A Comparison on Conventional and Unconventional Monetary Policy Strategies in the Context of International Transmission ChannelAbstract: In this study, the effectiveness of conventional and unconventional monetary policy strategies is investigated for developing countries (Romania, Poland, Hungary and Turkey) for 2008:1-2017:5 period with panel VAR methodology. Results show that in the post-global crisis period, conventional policy implementations cannot create meaningful and lasting effects on GDP in developing countries. It has been seen that unconventional monetary policy doesn’t have a statistically significant effect on inflation, while its most severe and permanent effect is observed on the real effective exchange rate

Durmuş Çağrı Yildirim and Buket Kirci-Altinkeski̇

The Impact of Financial Stability on Real Economy in Turkey: Based on Linear and Non-Linear ARDL ModelsAbstract: The stability situation of financial system and its impact on real economy is a discussion subject. The aim of the study is to investigate the impact of stability situation of financial system on real economy and reveal reciprocal asymmetric effects between each other. For this purpose, composite financial stability index is developed in order to gauge stability situation of Turkey’s financial system for the quarterly period of 2004-2017. It was seen that index is a good proxy of related period due to reflect domestic and global economic affairs. Linear ARDL model was determined based on unit root structures of variables. Non-linear ARDL model and Hatemi-J causality test were used to analyse stability and instability situations of financial system, separately. The findings indicate that financial stability affects real economy more than instability at the related period

Mesut Alper Gezer and Ramazan Kiliç

Syrian Refugees in the Turkish Labour Market: A Socio-Economic AnalysisAbstract: This article explores the socio-economic conditions of Syrian refugees in Turkey with the help of the Household Labour Force Survey. Firstly, it describes and analyses some of the challenges derived from an expansive population pyramid, low school attendance rates and high labour market attachment from an early age. Then, it assesses the employment and wage structure of Syrian workers, including the estimation of returns to schooling and a test for employer discrimination towards Syrian refugees. On the one hand, the results suggest that refugees are not discriminated against comparable Turkish employees. On the other hand, for Syrians with university degrees, informal work arrangements and lack of prior learning recognition make their return to schooling five times lower than that of formally employed Turkish citizens

Luis Pinedo-Caro

2020, articles 28(45)

Recall Mechanism: Implications of International Representative to TurkeyAbstract: Efforts are underway to ensure that citizens are more active in public administration for accountable, participatory and transparent management through the supervision of local authorities and public officials. The recall mechanism, which connects elected officials to voters and helps neutralize anger and resentment to elected officials who do not respond to the needs of citizens, is found in many countries today. Recall is used as an important tool for covering the flaws of democracy and ensuring public participation as a mechanism that ensures that public officials, elected officials and/or bodies who are dissatisfied with their work or do not fulfill the promises made during the election process are dismissed by a certain percentage of citizens before their normal term of office expires. In this study, after giving the theoretical information about the right of recall, recall practices in different countries of the world will be examined. Besides Turkic tenth place in the political life and Rural Development Plan Draft Law on the recall mechanism began to be discussed will be examined and applicability in Turkey will be discussed

Oğuzhan Erdoğan

The Reflections of Post-Fordism on Public AdministrationAbstract: After 1970s, the working order of public institutions was affected by Post-Fordism therefore horizontal and flexible business relations started to strengthen in the public sector. The Post-Fordist transformation, in which the state's productive role develops as a regulator, designs the state in accordance with the governance mechanism, weakens the social welfare state by diverting production from the demand, and creates a state model that deals with supply-side problems, competition and innovative capacity. In this study, by using the literature review method, the effects of Post-Fordist production style on business life, public services, social welfare state, development policies, structure of public administration and public employment is analysed. As a result, in the new Post-Fordist era, the principles of flexibility, decentralization, multi-actorism and participation have come to the fore in public administration at macro and micromanagement levels

Uğur Sadi̇oğlu and Sencer Altay

Can Twitter Forecast Uncertainty of Stocks?Abstract: Academic studies have shown that there is a relationship between emotional analysis results of tweets and stock price movements, and then stock prices can be estimated using this relationship. In this study, in which the effect of tweets on the volatility of the stock is estimated, the volatility scores and the emotion scores between the stocks were also revealed. In the scope of the study, sentiment analysis with Naive Bayes was performed on Turkish tweets shared by three phone companies (Alcatel, Turkcell and Vestel) which are in Borsa Istanbul and whose products are sold in Turkey. According to the results of the analysis, it was found that sentiment scores obtained for Turkcell and Vestel significantly increased Alcatel's conditional variance statistically

Gurkan Bozma and Sinan Kul

Bibliometric Analysis of the Articles Published in Journal of Sosyoekonomi: The Period of 2005-2019 Abstract: The purpose of this study is to create a bibliometric profile of the articles published between 2005-2019 in Sosyoekonomi Journal. In this context, 481 articles which published in the journal between the specified years have been examined using bibliometric analysis which is one of the qualitative research methods. The fundamental issues discussed in the scope of the study consist of article analysis, author and institution analysis, subject analysis and citation analysis. As a result of the research, it was determined that English was used extensively in the language of publication and bibliography. In recent years, empirical studies have been observed to be more preponderant than theoretical studies. There is a continuous increase in the number of citations compared to years; it has been found that the amount of citations has reached significant levels especially in recent years. In addition to academics, it has seen that the staff working in various institutions and organization except of universities also contributes to the journal. The distribution of authors contributing to the journal did not accord with Lotka, Price and Pareto laws. The Impact Factor and Immediacy Index of the journal increase regularly. Tax, economic growth and public policies are main topics the matter in hand in the articles

Sedat Polat

Irrigation Systems Transformation in Cotton Production in the Harran District, Turkey: Implications of an Agent-Based Model

Onur Yeni, Zeynep Yener-Gök and Özgür Teoman

An Investigation of the Factors Affecting Inflation Perceptions: A Case Study on Business and Economics Undergraduate Students Abstract: The aim of this study is to investigate the factors behind the inflation perceptions of undergraduate students of economics and business. Factors, such as education in economics, sociodemographic conditions, cognitive abilities, financial situation and consumption habits are investigated. The empirical evidence suggests that economics students on the average estimate a higher level of inflation than the official rate however their perceptions are closer to actual rates compared to the other students. The findings reveal that economic literacy, financial situation, gender, and the degree of trust regarding official measures of inflation, and purchase frequency of goods also influence inflation perceptions significantly

Şule Gündüz, Seçkin Yildirim and Mübeccel Banu Durukan

Industry 4.0-Related Digital Divide in Enterprises: An Analysis for The European Union-28 Abstract: Digital divide has been measured using various indicators in the literature so far. In contrast from the literature, this paper addresses the digital divide within European Union member states according to Industry 4.0-related indicators that have been used for the first time in empirical literature. While Finland, the UK and Germany are among the countries with economic development levels above the EU average, Cyprus, Bulgaria, and Romania are among the countries that are below the Union average in terms of Industry 4.0-related development. It is clear that an Industry 4.0-related digital divide is observable within EU member countries. The European Union should try to decrease the digital gap between member countries by developing and supporting special Industry 4.0 policies, especially for members below the EU average. Therefore, the results of this article will help policy makers in the EU and in member countries

Hayriye Atik and Fatma Ünlü

Success Factors which Affecting Participatory Budgeting: A Case Study on New YorkAbstract: After over 2 decades of military dictatorship Brazil became a democracy in 1988. The Participatory Budget was formally introduced in Porto Alegre under the leadership of the Workers’ Party in coalition with pro-democracy social movements. Interest in participatory budgeting is continuing to grow. Participatory Budgeting has now been instituted in over 1500 cities worldwide. In this study it has been aimed to introduce the basic criteria of participatory budgeting and to examine the factors affecting success in participatory budgeting. The sample of New York City, which is highly compatible with the factors we are dealing with, is analysed and the participatory budgeting process and its results are analysed

İsmail Güneş

Institutions and International Trade Linkages: An Investigation with Panel Data Analysis on Transition Economies Abstract: The purpose of the paper is to analyze the impact of governance indicator as a measure of institutional quality on international trade over transitions economies for the period 1996-2016. The relationship between institutions and exports and total international trade has been evaluated according to cointegration tests with and without structural breaks. As a result of the empirical analysis, cointegration relationship is determined between the variables in tests that did not consider structural breaks. When the relationship of the exports of goods with the governance indicators is analyzed by CCE and the Baltic countries and the CIS separately, a significant positive relation is found between the export level of goods and the governance indicators of CEE and Baltic States

Pınar Çuhadar and Ömer Doru

An Analysis of Value-Added Production and Macroeconomic Performances of the Turkic Countries via DEMATEL and COPRAS Methods Abstract: In this study, the macroeconomic and value-added production performances of Azerbaijan, Kazakhstan, Turkmenistan, Uzbekistan, and Turkey between 2008 and 2016 are analyzed with DEMATEL and COPRAS methods. The results show that Turkey and Turkmenistan displayed the best macroeconomic and worst value-added production performances, however, Kazakhstan, Uzbekistan, and Azerbaijan are ranked below Turkey and Turkmenistan in terms of macroeconomic performances although they show much better value-added production performances than these two countries. This indicates that Kazakhstan, Uzbekistan, and Azerbaijan cannot utilize their income efficiently, while Turkey and Turkmenistan better utilize their income that they generate through nonproduction fields of activity

Ahmet Serhat Uludağ and Asiye Öznur Ümi̇t

The Effect of Oil Prices Mobility on Basic Macroeconomic IndicatorsAbstract: In this study, it has been aimed to determine the effect of oil prices on basic macroeconomic indicators econometrically by using the monthly data of the Turkish economy of the 2007-2018 period. Johansen Cointegration method has been used to determine the long-term relationship, and FMOLS, DOLS, and CCR methods have been used to calculate the long-term coefficients. According to the empirical results, oil price mobility is cointegrated with the main macroeconomic indicators in the long run, and have a positive effect on the interest rate, inflation, industrial production index, real effective exchange rate and employment and a negative effect on the current account deficit

Murat Aykiri

Structural Equation Modelling for Premium and Tax Perception of Retired and Employees: Istanbul ExampleAbstract: Tax perception is defined as a concept that affects tax consciousness and the attitudes of the individuals regarding the tax. In this context, many studies are available in the public finance literature. On the other hand, due to the similarity with taxes, there are few studies on how the social security premium can reveal a relationship with the tax perception. It is essential how these perceptions can generate results in terms of retirees and employees. This situation constitutes the motivation for the study. The study aims to reveal the differences in the tax and premium perceptions regarding young employees in the age range of 18-35 and retirees. In order to determine this difference, test results within the scope of structural equation modeling were considered. The use of the tests regarding structural equation models that provide more reliable results than parametric or nonparametric tests contributes to the public finance literature. According to the results of this study, the effect level concerning employees’ perceptions of premiums on their tax perceptions may be higher than that of retirees

Ufuk Gergerli̇oğlu, Deniz Aytaç and Mete Di̇bo

Impact of the Provinces’ Gross Domestic Product Per Capita on the Better Life Index: An Analysis at the Level of Provinces Abstract: Recent studies on determining the impact of income on quality of life, better living level and life satisfaction suggest that the use of Gross Domestic Product per capita should be treated with suspicion. The aim of this study is to investigate whether there is a relationship between the better life index level and the Gross Domestic Product per capita of the provinces. In order to achieve this objective, the data used in the research was obtained from the Turkey Statistical Institute database and analyses were performed with SPSS 17. As a result of hierarchical multiple regression analysis, it was concluded that as the per capita income levels of the provinces increased, better living level index values improved

Serap Taşkaya

The Role of House Prices in the Monetary Transmission MechanismAbstract: Housing markets have an essential role in the process leading up to the 2008 financial crisis. The problems in the housing markets started with monetary tightening. These developments revealed the importance of the relationship between monetary policy, housing markets, and the real sector. Besides, the role of housing prices in the monetary transmission mechanism has begun to examine. In this context, the paper aims to investigate the role of housing prices in the monetary transmission mechanism in the Turkish economy empirically. The analysis method of the study is Structural VAR. The analysis period is 2011:1-2019:4. According to the results of the analysis, monetary policy affects housing prices. However, housing prices have no impact on consumption and housing investment. When these two situations evaluated together, housing prices have no role in the monetary transmission mechanism. On the other hand, the analyses indicate that the Central Bank of the Republic of Turkey closely followed the housing prices. In this framework, it reacts rapidly to the appropriate policy response

Musa Bayir

The Performance of Education System in Different Welfare Regimes in School to Work Transitions: Denmark, France, Spain, Greece, and TurkeyAbstract: School systems and their links with the labor market play an important role in students’ success or failure and, consequently, facilitate (or not) their later access to the labor market. This article presents a comparison of the effects of different welfare regimes on school to work transitions. By drawing on an intense desk study and secondary analysis, the article examines five countries with different welfare regime types and reveals how they shape schooling and school to work transitions, particularly for disadvantaged groups. These countries are Denmark (universalistic regime), France (employment-centered regime), Spain, Greece, and Turkey (sub-protective regime). The article also addresses potential policy transfers in the findings

Çetin Çeli̇k

Is PMI a Leading Indicator: Case of TurkeyAbstract: In this study, the causal relationships of the Purchasing Managers Index (PMI) with various financial factors are examined. As a result of the analysis, it is determined that the change in the Istanbul-Stock-Exchange-Industry Index (ISEIND) causes the change in the PMI and the changes in the PMI also causes the changes in the Industrial-Production Index (IPI) and the Capacity-UtilizationRates (CUR). It is also determined that the causality towards to PMI from the ISEIND and causality towards IPI from PMI is valid in the medium- and long-run, whereas the causality towards PMI to CUR are valid for the all periods. According to these results, PMI can be considered as a leading indicator for the real sector. However, the same result does not apply to the financial sector

Saffet Akdağ, Ali Deran and Ömer İskenderoğlu

Arms Race Between Turkey and Greece: Time-Varying Causality Analysis Abstract: An arms race is the dynamic process followed by states in the acquisition of weapons. An arms race requires mutual military expenditures during this process to support the arms race hypothesis among states. This study elaborated on the arms race hypothesis between Turkey and Greece for the period 1960-2016 with the help of time-varying causality testing as well as bootstrap causality testing and asymmetric causality testing. The bootstrap causality test results proved that there is a unidirectional causality relation between Greece’s defense expenditures and Turkey’s defense expenditures, whereas the asymmetric causality testing results proved that a mutual relationship exists between the two states’ defense expenditures. Further, according to the time-varying causality testing results, the presence of an arms race can be confirmed between the two countries for the periods 1975- 1990 and 2000-2014

Asiye Tütüncü and Burak Şahi̇ngöz

Does Public Health Insurance Provide Financial Protection Against Out-Of-Pocket Health Payments? Evidence from TurkeyAbstract: Turkey hasinitiated comprehensive reformsto increase equity among its citizensfor healthcare financing, access to health services, and health outcomes. A significant change in this process was expanding the benefits package for the non-contributory public health insurance for low-income households. This study examines the impact of the public insurance expansion on out-of-pocket healthcare expenditures for the poor. We find that public insurance helped the beneficiaries not spend a sizeable portion of their income to get medical treatment. Overall, the public insurance program provided financial protection for the poor households by decreasing out-of-pocket health expenditures

Abdullah Ti̇rgi̇l and Fatih Cemil Ozbugday

2020, articles 28(44)

Testing the Convergence Hypothesis for OECD Countries: RALS Panel Fourier SURADF Unit Root Test

Veli Yilanci and Esra Canpolat-Gökçe

Earnings Management and Financial Performance: An Empirical Investigation of the Istanbul Stock Exchange

Koray Tuan and Metin Borak

The Relationship Between Political Instability and Budget Consistency: 1984- 2018 Period Analysis in Turkey

Ayşe Atilgan-Yaşa, Selim Şanlisoy and Ahmet Özen

Political Polarization and Size of Government

Nazlı Keyi̇fli̇ and Sacit Akdede

Asymmetries and Macroeconomic Shocks: The Pre-Crisis Period and Evidence for Europe

Naib Alakbarov and Utku Utkulu

Decentralization Matter of Healthcare and Effect on Regional Healthcare Efficiency: Evidence from Turkey

Gökçe Manavgat and Ayhan Demi̇rci̇

Industry 4.0 and Transformation in Public Finance: An Assessment by Government Expenditures

Miraç Fatih İlgün

Contingent Liabilities as a Risk Factor in Public Finance: The Case of Turkey

Semih Şen and Mircan Tokatlioğlu

The Effect of Investor Attention on Equity Markets: Panel Data Analysis on Banks Traded on Borsa Istanbul

Tuğba Nur-Topaloğlu and İlhan Ege

Long Term Analysis of Intersectoral Interdependence of Turkey’s Economy with Input Output Analysis Approach

Ferhat Pehli̇vanoğlu and Muhammet Rıdvan İnce

The Playing Field of Innovative Entrepreneurship: A Multilevel Analysis of Institutional Effects on Female Entrepreneurship

Mehmet Nasih Tağ and Duygu Hidiroğlu

Fiscal Decentralization with a Redistribution Rule vs. Fiscal Centralization

Zeynep Burcu Bulut-Çevi̇k

The Effect of International Trade on Employment in Turkey

Seren Savaci and Ayşe Dilek Seymen

The Relationship between Real Per Capita Income, Foreign Direct Investment, Trade Openness and Carbon Emissions Under Structural Break in Turkey for the Period of 1974-2016

Salih Öztürk and Selin Saygin

Revisiting the Finance-Growth Nexus in Turkey: Bayer-Hanck Combined Cointegration Approach over the 1970-2016 Period

Onur Özdemir

The Effect of Democracy on Economic Growth in Developing Countries

Asiye Tütüncü

A Multivariate Investigation of Overall Happiness, Job Satisfaction and Income Satisfaction of Women and Men in TurkeyAbstract: This paper examines the factors affecting working women’s and men’s overall happiness, job satisfaction and income satisfaction levels and the association between these three measures of happiness. Women and men who are satisfied with their workplace relations relative to those who are not are more likely to report that they are satisfied or very satisfied with their life, job and income. Women’s job and income satisfaction and men’s all three means of happiness are more likely to be high for those who received a pay rise last year. The strongest correlation is observed between job satisfaction and income satisfaction for both genders, which is slightly stronger for women that challenges the arguments on women’s financial motivation to be not as strong as men at work. Spillover hypothesis is confirmed in all pairwise combination of the three happiness measures according to findings

Aslı Ermi̇ş-Mert

2020, articles 28(43)

Fiscal Sociology and Veblen’s Critique of Capitalism: Insights for Social Economics and the 2008 Crisis

Ceyhun Gürkan

Social Security Membership and Saving: The Turkish Case

Çağaçan Değer and Elif Erer

The Impact of Health Financing on Health Systems’ Performance: An Assessment for European Union and Candidate Countries

Şenol Demi̇rci̇, Murat Konca and Gülnur İlgün

Financial Crises and Signal Indicators in BRIC-3 Countries

Hilal Alpdoğan and Mustafa Akal

The Relationship Between Economic Growth and Income Inequality: A Panel Data Analysis

Kemal Erki̇şi̇ and Turgay Ceyhan

Determining of Social-Cultural, Environmental and Economic Impacts of Winter European Youth Olympic Festival

Tevfik Şükrü Yaprakli and Musa Ünalan

Measuring the Efficiency of Selected European Football Clubs: DEA and Panel Tobit Model

Halil İbrahim Keski̇n and Hakan Öndes

Perception towards Drivers of Entrepreneurship: A Crosscultural Study on the University Students from Kyrgyzstan, Bhutan & Taiwan

Azamat Maksudunov, Samten Jamtsho and Omurbek Ilimbekov

Forecasting Stock Market Indices with the Composite Leading Indicators: Evidence from Turkey

Esra Nazmiye Kilci

The Determinants of Airline Operational Performance: An Empirical Study on Major World Airlines

Kasım Ki̇raci and Mehmet Yaşar

The Matrix Exponential Spatial Specification Approach for Big Datasets: The Analysis of Istanbul Office Market

Sinem Güler Kangalli-Uyar

Impact of Syrian Forced Migration on Turkish Economy

Burçak Müge Tunaer-Vural

A Fiscal Space Analysis In Terms Of Turkey’s Domestic Debt

Süleyman Kasal and Özay Özpençe

Factors Influencing the Household Relative Poverty in Turkey: Logistic Regression Analysis

Nurgül Evci̇m, Sevcan Güneş and Hacer Simay Karaalp-Orhan

2020

An Analysis of the Optimal Design of Feed-in Tariff Policy for Photovoltaic Investments in TurkeyAbstract: Feed-in Tariff (FIT) is the long-term agreement between governments and firms investing in solar energy, where governments guarantee to purchase the energy produced by firms. This research aims to reveal the optimal FIT design for Photovoltaic (PV) investments in Turkey. Choice Experiment based questionnaire was conducted on solar energy firms to investigate the investment preferences and monetary worth of each FIT component for investors. We found that FIT design with longer contract duration creates positive value for PV investments, while low payment amount per kWh, tax policy for imported PV panels, and license fee decrease the attractiveness of PV investments

Duygu Kural and Shihomi Ara

The Dynamic Relationships between Environmental Protection Expenditures, Income Inequality and Economic Growth: Panel Causality Approach for Selected OECD Countries Abstract: In this study, relationships between environmental protection expenditures, income inequality, and economic growth were examined for selected OECD countries for the period 1995–2017 using Emirmahmutoğlu and Kose (2011), and Kónya (2006) panel causality tests. When the results obtained from the study are evaluated in general, it has been found that there is a causality relationship between environmental protection expenditures and economic growth from environmental protection expenditures to economic growth and there is a bidirectional causality relationship between environmental protection expenditures and income inequality

Tunahan Deği̇rmenci̇ and Mehmet Aydin

Financial Value of Analyst Recommendations: Talent or Risk Factor? Abstract: Financial analysts not only contribute to the informational efficiency of stock markets with their detailed reports, they also have the power to influence portfolio decisions of the larger financial investment industry through their recommendations. This study aims to explain the returns of portfolios formed based on analyst recommendations on Borsa Istanbul (BİST) stocks via known risk factors and to test the success of such recommendations in generating risk-adjusted alphas. In that regard, the returns of equal and value weighted portfolios based on analyst recommendations have been tested via CAPM, Fama-French and Carhart models. Furthermore, the financial value of analyst recommendations at times of economic turmoil is tested by taking recession periods into consideration. Although, positive recommendations from analysts seem to generate additional returns; when explained through well-known risk factors, the existence of an excess return with economic and statistical significance appears questionable. Our findings show that, analyst recommendations cannot be utilized to generate a meaningful alpha above and beyond the well-known risk factor premiums for BİST within respective period

Arhan Ertan, Cenk Cevat Karahan and Ahmet Musa Köseli̇

Regional Housing Market in Turkey: Convergence Analysis for NUTS-2 Abstract: Economic impact of price bubbles that may occur in housing market and risks they pose for the housing market make it necessary to observe the course housing prices. Therefore, the aim of this study is to analyse whether changes in regional housing prices converge to changes in national housing prices in Turkey. In this context, relative house price index (HPI) is generated by monthly house prices for the NUTS-2 regions of Turkey. As a result of the application of unit root tests to the relative HPI generated, it was determined that the changes in housing prices diverged. This shows that the price changes in regional housing markets in sub-market position are independent from the price changes in national housing market. The results obtained from Zivot-Andrews test, which takes into account the structural breaks, shows that the changes in housing prices in the TR22, TR41 and TR42 regions converge to the changes in national housing prices with structural breaks

Ali Yildirim and Ayten Ayşen Kaya

Environmental Disclosure: Determinants and Effects on Financial Performance? An Empirical Evidence from TurkeyAbstract: This article investigates the determinants of public disclosure of environmental information by firms and its effect on their financial performance. Using a sample of 66 firms listed on Istanbul Stock Exchange during the period of 2014-2018, we find that highly leveraged and larger firms, and firms with higher equity agency costs are more likely to disclose environmental information. However, the results indicated that profitability, industry type, information asymmetry, investment opportunities and business risk do not affect the probability that the firm will disclose environmental information. Finally, we find a weak evidence that environmental disclosure affects the financial performance of Turkish firms

Ismail Kalash

External Audit and Asymmetric Information Problem: Alternative Framework in Public BankingAbstract: As an important policy instrument within the financial system, public banks assumed greater responsibility with the expansion of statist policies during the Great Depression of 1929. While maintaining and expanding its market share in the banking sector, Turkish Public Banking has undertaken the task of providing service for the benefit of the public and has increased its efforts to compete in global markets through the expansion of its customer portfolio - product range and financial innovations in information technologies lately. On the other hand, asymmetric information problem stemming from information pollution prevents the effective functioning of the audit mechanism, which is normally set to run based on accurate and complete information, and adversely affects the risk management processes of public banks. This study presents a proposal of an external audit model-“The Insured Customer-Based External Audit in Public Banking Model”. The model proposed will contribute to the present financial system in terms of strengthening the legal power of the related institutions with the aim of reducing asymmetric information and increasing efficiency of external auditing in public banks. SWOT analysis has been conducted over the proposed model for greater understanding of its applicability and to reveal its possible effects in the banking sector. The results derived from the preferred method used in the study will pave way for the implementation of different numerical research methods in the future such as multi-criteria decision-making techniques in the same area of research

Seda Sönmez-Özeki̇ci̇oğlu and Filiz Yeti̇z

Are Shadow Economy and Corruption in US States Substitutive or Complementary? An Empirical InvestigationAbstract: An empirical investigation of the 50 US States shows that the relationship between shadow economy and corruption is negative (substitutive) when the shadow economy is relatively small; it is positive (complementary) when the shadow economy is large. According to the robust regression results for 50 American states between 2001 and 2008, the turning point from negative to positive is when the shadow economy of a state is at 7.61 of its GDP. Shadow economy and corruption are first substitutive and then complementary. The lesson to learn is that there is no simple anti-corruption policy rule if one takes into account the varying interaction between corruption and the shadow economy

Omer Gokcekus and Friedrich Schneider

Efficiency Analysis of Turkish Higher Education Institutions: Stochastic Frontier Model

Fatih Karasaç

Desired Labour Supply of the Unemployed in Turkey

İsmail Şentürk

Gastronomi Turizmi Aracılığıyla Yerel Mutfağın Dönüşümü

Serkan Polat and Semra Aktaş-Polat

Explaining Tax Non-Compliance from a Neo-Institutionalist Perspective: Some Lessons from a Public Opinion Survey in Turkey

Ayşegül Kayaoğlu and Colin C. William