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Yayın 1995-2011 döneminde Avrasya ekonomilerine yapılan doğrudan yabancı yatırımların (DYY) dünya trendi ile karşılaştırılması(2013) Tuzla, Hayri; Teker, SuatKüreselleşen ve gün geçtikçe sınırların azaldığı dünyamızda doğrudan yabancı sermaye yatırımları, başta ekonomik büyüme ve işsizlik olmak üzere, ülkelerin birçok farklı makro verisini etkilemektedir. Mevcut araştırmalar, doğrudan yabancı sermaye yatırımlarının ekonomik büyümeyi etkilemesi yönünde güçlü bir nedensellik ilişkisi olduğunu desteklemektedir. Ekonomik büyümenin doğrudan yabancı sermaye yatırımlarınıetkilemesi yönünde ise, daha zayıf bir pozitif nedensellik ilişkisi tespit edilmiştir. Böylece, ekonomik büyümenin bir sonucu olarak, işsizlik oranlarında bir azalma beklenebilir. Bu çalışma, yedi Avrasya ülkesinin (Azerbaycan, Kazakistan, Kırgızistan, Tacikistan, Türkiye, Türkmenistan ve Özbekistan) 1995 yılından 2011'e kadar çekmiş olduğu doğrudan yabancı sermaye yatırımları trendini, hem bu ülkeler arasında hem de dünya trendi ile karşılaştırmaktadır.Yayın Financial inclusion for selected OECD countries(PressAcademia, 2023-07-30) Teker, Dilek; Teker, Suat; Güzelsoy, HalitPurpose- Financial inclusion is defined as a process that ensures the ease of access, availability, and usage of the formal financial system for all members of an economy by emphasizing the use of accessibility and availability of financial services. A financial sector is measured and compared on four main features; debt is the size of financial institutions, access is the access and use of financial services by the users, efficiency is the efficiency in the provision of financial services, and stability is the stability in the provision of financial services. Financial inclusion, in short, is adults' access to and use of financial services. This study aims to measure the financial inclusion level for selected OECD countries from 2010-2021. Also, this study aims to estimate the effect of financial inclusion on economic growth and income inequality for selected countries. Methodology- The data used in this study cover a range of variables related to financial inclusion from various institutions, including the IMF-Financial Access Survey (IMF-FAS), the World Bank - World Development Indicators (WB-WDI), the World Bank - Global Financial Development Database (WB-GFDD) and the Standardized World Income Inequality Database (SWIID). These variables provide insights into the dimensions and determinants of financial inclusion and their impact on economic and social outcomes for selected OECD countries. In the study, we run panel data regressions for each group separately, using GDP per capita as the dependent variable to determine the impact of the Financial Inclusion Index on economic growth. We also construct two different models for each group of countries with and without the added control variables into the models. Findings- The analysis reveals that the effect of financial inclusion on economic growth is negative for all groups of countries. The impact is significant for Group 1 and Group 2. The magnitude of coefficients changes when we add control variables to the model. However, it does not change the significance level of the coefficients. The magnitude of the coefficients increases as countries’ per capita income increases. At the same time, the effect of financial inclusion on the GINI index is significant only in the model for Group 3 with control variables. The sign of the impact is negative. It implies that the GINI index decreases as the financial inclusion index increases. So, the effect of financial inclusion on income inequality is positive for countries in Group 3. Conclusion- The empirical results did not support the relationship between financial inclusion and economic growth (GDP per capita). These results may be explained by advocating the financial sector's quick and fundamental digital transformation. Hence, the rules for availability, accessibility, and usage of financial products and system are completely changed in the past ten years. On the other hand, the relationship between financial inclusion and income inequality, measured by GINI Index, is consistent with the literature only for Group 3 countries (developing countries). The increase in the gap between rich-developed and developing countries may explain these results. An increase in financial inclusion still supports adjustments in income inequality in developing countries, but its effect is disappeared in developed countries in the last 12 years.Yayın The relationship between patents and economic growth: a panel VAR and causality analyses on OECD countries(Işık Üniversitesi, 2023-06-21) Özkan Yıldız, Öznur; Görkey, Selda; Işık Üniversitesi, Lisansüstü Eğitim Enstitüsü, Uygulamalı Ekonomi Yüksek Lisans ProgramıThe patent subject requires a comprehensive analysis both theoretically and empirically as it is related to many concepts. Patenting is important not only for the patent owner, but also for society and the country. Over the years, the causes of economic growth have been put forward in various ways in different growth models. Sustainable economic growth can be achieved by the creation of innovation by industries that carry out R&D activities and the continuous feeding of innovation with R&D, according to R&D-based endogenous growth models. The innovation process is depicted as a cumulative one in which new innovations build on past achievements. Empirical evidence demonstrates that patents, as a form of intellectual property rights contribute to economic growth. Especially in knowledge-based new economies, patents play a essential role in the decisions of countries and companies to invest in innovation. This study first theoretically reviews the economic effects of patent and patent system. For this purpose, it explains the impact of patents on economic growth, starting from their role as an innovation indicator and considering the main benefits of the patent system. The study then empirically investigates the relationship between patents and economic growth for a panel of OECD countries between 1990 and 2019. By employing panel vector autoregression (VAR) approach and panel-VAR Granger causality analysis, the research distinguishes patents into patent applications and grants. According to the findings of the Granger causality analysis, there is no two-way causality relationship between patents and economic growth, but there is a causality relationship from patents to economic growth. The findings from the empirical estimates confirm a significant contribution of patents to economic growth in OECD countries. The empirical results show that an improvement in patent grants play a decisive role rather than patent applications in enchancing gross domestic product.Yayın Employment intensity of economic growth in Southern Europe: evidence from multidimensional panel data(2023-06-26) Görkey, Selda; Şen Taşbaşı, AslıThis paper examines the employment intensity of economic growth in Southern Europe during the so-called “post-crisis” recovery years. A labor demand estimation model based on multidimensional panel data from 2010 to 2019 was utilized. Findings from our macroeconomic analysis of eight different industries refute the predictions of neoclassical labor theory in the region. The results further indicate the presence of jobless growth in the areas of overall employment, fulltime employment, and overall employees. They also signal that economic growth may have created job opportunities in part-time and youth employment, and among temporary employees, rather than full-time jobs. The paper links these findings to particular characteristics of the regional labor market, discusses their.Yayın Whether development indices affect economic growth: a cross-country analysis(Elsevier Science BV, 2016-11-23) Teker, Suat; Güner, AyşegülThis study aims to examine the relationship between economic growth and highly featured development indices using a cross sectional data of 12 countries from both developed and developing world between the years 2000 and 2013. The indices of corruption, democracy, freedom of press, human development, global competitiveness, economic freedom, and the featured development indicators of World Bank such as average schooling years, life expectancy, female labour force participation rate, health expenditures rate in GDP, export rate of high technology, and employment rate are used to investigate the relationship in between economic growth and development indices. In order to exploit this relationship, all individual indices are reformed to produce form a single index, what we call harmonic index. The findings show that the higher scores of harmonic Index are associated with higher GDP per capita all levels except Saudi Arabia.Yayın AB-27 ülkeleri ve Türkiye'de ekonomik büyümeyi etkileyen faktörlerin belirlenmesi: statik panel veri modeli uygulaması(2014) Pala, Aynur; Teker, DilekBu çalışmada, 2000-2011 yıllarına ilişkin EU-27 ülkeleri ve Türkiye için ekonomik büyümeyi etkileyen faktörlerin belirlenmesi amaçlanmıştır. Analizde, gayri safi milli hasıla (GSYİH) büyümesi, nüfus artışı, bankacılık sektörünün yurtiçine sağladığı kredilerinin GSYİH'ye oranı, özel sektör kredilerinin GSYİH'ye oranı, dış ticaret hacminin GSYİH'ye oranı, tüketici enflasyonu ve net tasarrufların Gayri Safi Milli Hasıla (GSMH)'ya oranı değişkenleri kullanılmıştır. Ekonometrik model statik panel veri regresyonu ile tahmin edilmiştir. Model sonuçlarına göre, ekonomik büyüme üzerinde, nüfus artışı, özel sektör kredilerinin GSYİH'ye oranı, net tasarrufların GSMH'ye oranı değişkenleri pozitif yönde etkili iken, tüketici enflasyonu ve bankacılık sektörünün yurtiçine sağladığı kredilerinin GSYİH oranı gibi değişkenler negatif yönde etkilidir.Yayın Financial inclusion and economic development: Turkey and Greece(PressAcademia, 2023-02-01) Teker, Suat; Teker, Dilek; Güzelsoy, HalitPurpose- Financial inclusion means individuals and businesses have access to useful and affordable financial products and services to deliver their needs in a responsible and sustainable way. A financial sector is measured and compared on four main features; debt is the size of financial institutions, access is the access and use of financial services by the users, efficiency is the efficiency in the provision of financial services, and stability is the stability in the provision of financial services. The purpose of this paper is to measure the level of financial inclusion of Turkey and Greece from 2000 to 2020 and compare its relationship with the economic growth and income inequality of both countries. Methodology- The World Bank data covering the 2000-2020 period is extracted from Turkey and Greece from the world bank report. The whole financial system for both countries is defined as a combination of banks, nonbanks financial institutions, and stock exchange markets. The related indicators for each of the subsectors of the financial system are determined for banks, nonbanks financial institutions, and stock exchange markets. Thus, 32 indicators for banks, 6 indicators for nonbanks, and 16 indicators for stock exchange markets are determined for the financial inclusion index. All indicators are in percentages. All individual indicators are summed for the computation of subsectoral indexes and then the growth rate in each subsectoral indexes are computed. The growth rates of each subsectoral index are summed and weighted by the subsectoral asset sizes or trading volüme. Finally, the causal relationship between the financial inclusion index, Gini coefficient, Poverty Headcount ratio, and GDP per capita was examined. Findings- The average growth rate for the financial inclusion index for the 21 years is 2,83% for Turkey and 0,97% for Greece. According to the analysis, we found that the financial inclusion index Granger-cause GDP per capita, Gini index Granger-cause financial inclusion index and there is a bidirectional relationship between the financial inclusion index and Poverty Headcount ratio for Turkey. On the other hand, there is a bidirectional relationship between GDP per capita and the financial inclusion index and a bidirectional relationship between the financial inclusion index and the Poverty Headcount ratio for Greece. Conclusion- Financial inclusion simply means a larger size of financial institutions and a variety of financial products and services available for the use of adult individuals, businesses, and governmental agencies. Economic growth is supported and accelerated by an increase in financial inclusion. The empirical analysis supports the literature that the growth in the financial inclusion index enhances a higher growth in GDP and a much higher growth in GDP per capita for both Turkey and Greece. The project titled “Istanbul as an International Financial Center” may easily improve the level of financial inclusion in Turkey.Yayın The impact of real effective exchange rate and its volatility on economic growth in the OECD(Işık Üniversitesi, 2023-11-30) Dada, Samson Adewale; Görkey, Selda; Işık Üniversitesi, Lisansüstü Eğitim Enstitüsü, Uygulamalı Ekonomi Yüksek Lisans ProgramıThis study examines the effects of the real effective exchange rate (REER) and its volatility on economic growth from 1996 to 2020 in 36 OECD countries utilizing fixed effects (FE) and random effects (RE) methodologies from panel data econometrics. For empirical analysis, the Hausman test indicates that the fixed effect method is superior to the random effect method; and there were presence of cross-sectional dependencies, autocorrelation, and heteroskedasticity in the FE model. The robust estimates derived by the FE estimation using DRK S.E. indicate that the impact of the real effective exchange rate on economic growth is negative and statistically significant whereas the REER volatility has an insignificant effect on economic growth in the OECD throughout the examined period. The findings from the FE model with robust S.E. further evidence a significantly negative impact of GCE and a significantly positive impact of GCF on economic growth. While population growth and trade do not result in any significant impact on economic activity, the influence of inflation on GDP growth presents mixed findings on significance levels both of which point out to negative impacts. This study presents crucial outcomes in that the impacts of REER and REER volatility on economic growth present diversified outcomes over the past decades in the OECD.Yayın Renewable electricity consumption and economic growth nexus – evidence from high-,middle- and low-income countries(Işık Üniversitesi, 2024-01-23) Brown, Mustapha Abekah; Şen Taşbaşı, Aslı; Işık Üniversitesi, Lisansüstü Eğitim Enstitüsü, Uygulamalı Ekonomi Yüksek Lisans Programı; Işık University, School of Graduate Studies, M.A. Applied Economics Master ProgramRecent decades have witnessed growing concerns over sources of energy consumption and their role in economic development. Renewable energy and electrification have been touted by experts as a solution to mitigate these global issues. Considering this, the study investigates the intricate relationship between economic growth and renewable electricity consumption between the years 2000 to 2021 across a diverse spectrum of countries categorized by income levels. Renewable electricity consumption and economic growth data was collected for 48 countries. These countries were then further divided according to their income levels. The current study examines the relationship between renewable electricity consumption and economic growth through the lens of four distinct perspectives: the feedback hypothesis, the neutrality hypothesis, the growth hypothesis, and the conservation hypothesis. The Panel ARDL methods including the PMG, MG and DFE were employed to explore the presence of cointegration and the impact of renewable electricity usage on economic growth. The outcome of the methods indicate clearly that green electricity usage has a positive impact on economic growth across all income levels albeit at varying magnitudes. The findings contribute to the understanding of sustainable development and energy policies tailored to the specific economic contexts of countries at various income levels.Yayın Foreign direct investments: Asian and European transition economies(Econjournals, 2014) Teker, Suat; Tuzla, Hayri; Pala, AynurTransition economies in Asian and European region have been showing a great performance and attracting large sum of foreign direct investments in recent years. Although the foreign direct investments totaled only 500 million USD in 1992 for all these transition countries, it is around 270 billion USD as of 2011. This study investigates the trends and dispersion of foreign direct investments in these two geographically distinct regions for the period of 1992-2011. The results show that the transition economies in the Asian side look to perform better for accumulating much larger sum of foreign direct investments while the transition economies in the European side are more successful for having a higher foreign direct investments per capita.
