Authors:Ayhan Korkulu; Yusuf Akan Abstract: The study aims to determine the effect of low-interest business and investment loans provided to producers engaged in agriculture and livestock activities on producers' income. The data used in the research was obtained through a face-to-face survey conducted to producers continuing their production activities in 10 different districts in Erzurum province. The data were evaluated using Ordinal Logistic Regression Analysis and Marginal Effects using SPSS 20 and STATA programs. The analysis revealed that the absence of credit and low loan amounts used increased the probability of being at lower income levels, while higher loan amounts increased the probability of being at higher income levels, highlighting the significant role of credit availability in determining producers' income levels. PubDate: Tue, 30 Jul 2024 00:00:00 +030
Authors:Onur Şeyranlıoğlu Abstract: This study aims to examine the effect of financial development on carbon (CO2) emissions from the manufacturing industry and construction sector in the context of the Environmental Kuznets Curve (EKC) hypothesis with the data from 1960-2014 in Türkiye. In the study, the ARDL bounds test was used to determine the cointegration relationship and the long and short-term coefficients of the model were estimated. FMOLS, DOLS and CCR estimators were used to confirm the accuracy of the long-run coefficients obtained by ARDL bounds test. According to the findings, a long-run relationship was found in the model. According to the long-run coefficients, increases in financial development decrease carbon emissions, while economic growth and energy consumption variables increase them. In addition, the EKC hypothesis is found to be valid. FMOLS, DOLS and CCR estimator findings confirm the ARDL long-run coefficient estimates. The study is considered a candidate to fill an important gap in the literature in determining the determinants of sectoral carbon emissions in the context of the EKC hypothesis. PubDate: Tue, 30 Jul 2024 00:00:00 +030
Authors:Muhammed Veysel Kaya; Şeyda Yıldız Ertuğrul Abstract: The study employed a rigorous methodology to analyse the relationship between Türkiye’s and international food prices. Monthly data from 2005.1 to 2023.3 was used. Initially, the linearity of the series was examined, and upon discovering its nonlinear properties, the study was completed with nonlinear time series models. The applied analysis examined the dynamic correlation between Türkiye’s and world food prices using the DCC-GARCH method. This was followed by using MSR and Kalman filter models for dynamic regression analysis, providing a comprehensive understanding of the relationship. PubDate: Tue, 30 Jul 2024 00:00:00 +030
Authors:Keziban Altun Erdoğdu; Türkmen Göksel Abstract: Recent studies on the economics of happiness have shown that the benefits arising in interpersonal relationships, defined as relational goods, are an important source of happiness. In addition, these studies explain that the increase in income after a certain subsistence level does not lead to an additional increase in happiness (income-happiness paradox). In the survey following the literature, the relationship between relational goods, income and happiness with attachment theory, which is a subtitle of relational happiness theory, was investigated using the fourth wave of the World Values Survey. The findings revealed that the happiness of individuals with insecure attachment, who avoid relationships because they find others unreliable, is not higher because the time they allocate to the production/consumption of relational goods is less. In addition, across the world, it is observed with the help of the figure that the relationship between income and relational goods weakens as the level of real income per capita increases. PubDate: Tue, 30 Jul 2024 00:00:00 +030
Authors:Murat Abutalipov; Mustafa Kemal Değer Abstract: This study aims to explore export diversity and economic growth relations in transition economies. For this purpose, Westerlund co-integration tests, Pesaran CCE tests and Emmahmutoğlu-Köse causality tests were used, considering the years 1995-2020. In addition, transition economies were divided into groups in the study, and empirical results were examined separately on both country groups and a country basis. While the findings have been identified in the transition economies of the European Union, a one-way causality relationship has been determined in exports from product diversity to economic growth; there has been no significant relationship between variables in other transition economies. PubDate: Tue, 30 Jul 2024 00:00:00 +030
Authors:Serap Püren; Recep Yücedoğru Abstract: People in Türkiye often complain about the high tax burden. The study aims to measure the objective tax burden, which can be calculated mathematically, and the subjective tax burden, which is stated to be very difficult to measure in the literature. The study utilised Structural Equation Modelling for this purpose. It concluded that income level and tax payable are effective on objective tax burden. In contrast, tax fairness, complexity, trust in government, and citizenship awareness effectively reduce subjective tax burdens. The study differs from the literature in that the subjective tax burden (58%) is higher than the objective tax burden (25%, 33%). The study makes unique and important contributions to the literature in this context. PubDate: Tue, 30 Jul 2024 00:00:00 +030
Authors:Emine Ayhan; Hakan Güvener Abstract: This study aims to determine the effect of the mushroom management approach on team performance in health care and to investigate regulatory role competition with the mediating role of collective efficacy in this interaction. This study obtained data from 449 health workers using a survey technique with an easy sampling method from public and private health institutions operating in Gaziantep. A structural equation model (SEM) was used to analyse data. It has been determined that the mushroom management approach in health institutions positively affected team performance and that collective efficacy has an intermediary role in this interaction, and competition has a regulatory role. PubDate: Tue, 30 Jul 2024 00:00:00 +030
Authors:Murat Mahmutoğlu Abstract: Macro-prudential policies have an important role in ensuring financial stability and have been extensively applied in Türkiye after the 2008 global financial crisis. As a result of the decisions taken by the Banking Regulation and Supervision Agency during the COVID-19 epidemic, the share of banks' non-performing loans in total loans decreased, and loans under close monitoring began to express the sector's credit risk better. The study aims to analyse the effects of macroprudential policies implemented to ensure financial stability in Türkiye after 2008 on the credit risk of the Turkish banking sector. According to the dynamic panel data model estimation results carried out with the Generalized Method of Moments estimators, the effect of the tightening and expansionary macroprudential index on banks' lending tendency is statistically insignificant. However, the increase in the macroprudential policy index also reduces banks' credit risk in a statistically significant way. In other words, macroprudential policies positively affect credit risk. According to the findings of international academic studies, while the effect of macroprudential policies on banks' lending tendency and risk level is strong in developed Western countries, its effect is relatively weak in Türkiye. PubDate: Tue, 30 Jul 2024 00:00:00 +030
Authors:Muhammed Furkan Taşcı; Nil Esra Dal Abstract: This research aims to analyse the factors that affect the willingness to pay a price premium and the effect of brand experience on these factors. It also focuses on the relationship between price premium and online purchase intention. The research data were collected from 391 participants aged 18-25 using the online questionnaire technique with the convenience sampling method. Frequency analysis, normality test, correlation analysis, confirmatory factor analysis and path analysis were applied with appropriate statistical analysis programs. As a result of the research, it has been determined that brand experience affects perceived uniqueness, brand choice and brand reliability. In addition, the effect of brand reliability on willingness to pay price premiums and the relationship between price premiums and purchase intention are highlighted. PubDate: Tue, 30 Jul 2024 00:00:00 +030
Authors:Yusuf Kalkan Abstract: This study aims to examine the spatial (neighbourhood) relations of 163 countries in terms of economic risk (ER), economic freedom index (EFI), corruption perception index (CPI) and human development index (HDI). Moran I, Geographically Weighted Regression (GWR) and Multiscale Geographically Weighted Regression (MGWR) methods were used for spatial analysis. The MGWR models demonstrated that countries globally have strong spatial relationships with their neighbouring countries regarding ER, EFI, and CPI but are not significant regarding HDI. This result can be explained by the fact that ER, EFI and CPI indicators are mostly related to the country's economy and that countries have become economically interdependent today. However, HDI may not have resulted in significant spatial relationships due to its focus on human quality of life and social-cultural differences among countries. PubDate: Tue, 30 Jul 2024 00:00:00 +030
Authors:Zeynep Kalaycıoğlu; Ahmet Kurtaran Abstract: This study examines the effects of fundamental public offering indicators in seasoned public offering companies on current ratio, return on equity and financial leverage ratio in the long and short term. For this reason, the Panel ARDL error correction model was applied by using the data of 40 stocks between 2005-2022. The analysis results are consistent with the literature, and it is found that the degree of financial leverage decreased and liquidity increased after the public offering; it was emphasised that this financial recovery has regressed in the long term. In this context, a perspective supporting the literature within this spectrum could be presented about the effects of fundamental public offering indicators on the current ratio, return on equity and financial leverage ratio in seasoned public offering companies in the long and short term. PubDate: Tue, 30 Jul 2024 00:00:00 +030
Authors:Önder Deniz Abstract: The Bolshevik Revolution marked a pivotal shift in Turkish-Russian relations, ending longstanding conflicts and fostering political and economic cooperation. Notably, economic ties flourished, benefitting Türkiye significantly. Emulating the Soviet Union's Five-Year Plan, Russian experts devised an industrialisation plan for Türkiye, focusing on agriculture and underground resources. The plan's execution, aided by Soviet loans, machinery, and expert labour, saw the establishment of Soviet-style facilities in Anatolia from the 1930s onwards. The transfer of Soviet expertise and technology played a crucial role in Türkiye's industrialisation, showcasing the substantial impact of the Soviet five-year plans on Turkish industry post-1928. PubDate: Tue, 30 Jul 2024 00:00:00 +030
Authors:Ali İlhan; Coşkun Akdeniz Abstract: This paper analyzes the effect of real wages on employment in the Turkish manufacturing industry after the 2008 global financial crisis. The effect was estimated for 24 manufacturing sectors using panel data analysis covering the period from 2009Q1 to 2019Q4. The panel cointegration results demonstrated a significant long-run relationship between real wages and employment, while the panel augmented mean group (AMG) estimator results indicated a significant long-run positive effect of real wages on employment. At the sectoral level, the effect was either insignificant or positive except for one sector. These findings indicate that an increase in real wages can raise employment by positively affecting the goods market and national income through the effective demand channel. That is, the manufacturing industry’s wage policies for enhancing effective demand can raise employment in Türkiye. PubDate: Tue, 30 Jul 2024 00:00:00 +030
Authors:Filiz Aslan Çetin; Seyhan Öztürk, Osman Nuri Akarsu Abstract: The relationship between companies' environmental, social, and governance (ESG) data and their financial performance is of significant interest. The primary aim of this study was to investigate whether the ESG scores of companies in the BIST Sustainability Index impact their financial performance. By analysing the relationship between ESG scores and financial performance indicators of 26 companies, whose ESG scores were calculated by S&P Global for the period 2018-2022, using the panel data analysis method, we found compelling results. ESG factors were found to have a significant and positive effect on return on assets (ROA), return on equity (ROE), net profit margin (NPM), and asset growth (AGR) but a negative effect on the market-to-book ratio (MBR). PubDate: Tue, 30 Jul 2024 00:00:00 +030
Authors:Haşmet Sarıgül Abstract: Several studies around the world identify a gender gap in financial literacy against women regardless of age, education level, and socioeconomic status. Although gender is included as one of the variables in many studies focusing on Türkiye, as far as we know, none of them particularly has examined the gender difference. This paper integrates the outputs of these studies in terms of gender and combines them into one measure by conducting meta-analysis techniques. The results reveal a gender gap in financial literacy among women. Financial literacy is essential for women who mostly experience the gender pay gap, face more significant employment interruption challenges and tend to live longer than men. Given those issues, this study highlights implementing inclusive education policies and establishing comprehensive, long-term education programs to improve women’s financial literacy. PubDate: Tue, 30 Jul 2024 00:00:00 +030
Authors:Ziya Can Abstract: This study aims to discuss potential alternatives for economic development in developing countries, with contributions from the theoretical background of Thirlwall's law. Developing countries' foreign trade constraints will be highlighted, followed by a comparison of Türkiye's past growth performance with results obtained from Thirlwall’s Law equations using balance of payments data. Türkiye's actual growth rates closely resemble the growth forecast of Thirlwall’s model, which indicates that post-Keynesian approaches are worth considering to alter the current situation. While providing a perfect solution that could reverse everything for developing countries may be a distant goal, this study aspires to foster a mindset capable of changing the course of events. PubDate: Tue, 30 Jul 2024 00:00:00 +030
Authors:Cihan Yılmaz; Hakan Yıldırım Abstract: This study investigates the impact of digitalisation in financial inclusion on the financial performance of deposit banks operating in Türkiye between 2010 and 2021. The study's dependent variables are the financial performance indicators, namely the return on assets (ROA) and return on equity (ROE). The number of ATMs and data related to Internet banking are explanatory variables, while asset size, equity ratio, and economic growth are control variables. The analyses conducted using the Two-Step System GMM method reveal that the lagged values of profitability indicators, the number of internet banking customers, financial transactions made through internet banking, equity ratio, asset size, and economic growth have a positive effect on profitability, while the number of ATMs has a negative impact. PubDate: Tue, 30 Jul 2024 00:00:00 +030
Authors:Yunus Gülcü Abstract: This study examines the relationship between inflation and financial development indicators for the Fragile Five countries between 1981 and 2021. The study analysed the relationship between symmetric and asymmetric distributed lag regression models. Inflation appears to have a negative impact on financial development in countries other than Brazil and India. The results prove that the most extended correction process was experienced in India, and the shortest was experienced in Indonesia among the Fragile Five countries. Research results emphasise that high inflation negatively affects financial development in these economies by increasing the cost of financial intermediation. PubDate: Tue, 30 Jul 2024 00:00:00 +030
Authors:Savaş Gayaker; Ahmet Güney Abstract: The main focus of this study is examining the time-varying effects of house prices on monetary policy in Türkiye from February 2010 to November 2021. We analyse these effects using a time-varying parameter vector autoregressive model with stochastic volatility (TVP VAR-SV). The evidence indicates that responses of inflation to positive house price shocks decrease over time. The response of credit and interest rates to positive house price shocks increases after 2018. The results reveal that the responses of the Central Bank of the Republic of Türkiye (CBRT) to the changes in the housing market have changed over time. PubDate: Tue, 30 Jul 2024 00:00:00 +030
Authors:Arzu Alvan Bozdereli; Derviş Kırıkkaleli, Şükrü Umarbeyli Abstract: This study aims to examine the impact of COVID-19 on the Turkish Banking Index of the Istanbul Stock Exchange. Bayer-Hanch Cointegration Test, a Canonical Cointegrating Regression, and a Fully Modified Least Squares test were examined. Gold price, Repo, exchange rate, and the COVID-19 cases exhibit a long-run relationship with the banking index. During the pandemic, COVID-19 cases affected banks' performance in a negative way at the Istanbul Stock Exchange. No study in the literature has specifically examined the impact of COVID-19 on the Turkish Banking Index using the Bayer Hanch Co-integration strategy. Therefore, this study provides valuable insight into the literature. PubDate: Tue, 30 Jul 2024 00:00:00 +030
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