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ABTRACT: Discussions on globalization began to get strength particularly after the collapse of Eastern Bloc. Despite the fact that there were some attempts before 1990s to conceptualize globalization, it became one of the distinguished fields of study in social sciences 1990s onwards. In the last two decade it has been produced a vast amount of works on globalization, and in line with each attempt, there emerged lots of different viewpoints on globalization. One of the most important issues that lead to differentiation in perception of globalization is undoubtedly ideological charging on the term. In this short paper, without becoming ideologically pro- or anti-, it will be attempted to present a proposal that how globalization could be conceptualized within a common context.

This paper examines the importance of revenue surprise in the cross-section of stock returns in Borsa Istanbul. Portfolio-level analyses and multivariate cross-sectional regressions document a statistically and economically significant positive relation between revenue surprise and expected returns. Average excess and abnormal return spreads between equities in the highest and lowest revenue surprise deciles are more than 1% per month. The findings of the paper are robust when well-known firm-specific attributes including earnings surprise are controlled for.

This paper compares from a political economy perspective the financial crisis that broke out in Japan after 1991 and in the US during 2007-2009. Common features of both crises are the initial deregulation in the financial sector and the burst of the consequent asset price bubble. The institutional structure shaped by government interventions in Japan was unable to overcome the crisis and the subsequent long recession while the US government responded relatively quickly to the crisis. This paper comparatively evaluates the causes of the crises from the political economy perspective.

The effect of a change in monetary policy on output operates through monetary transmission channels. The transmission channels of monetary policy may be gathered in five main titles: interest rates channel, asset prices channel, exchange rate channel, credit channel (bank lending channel, balance sheet channel) and expectation channel. Findings obtained from the analysis of the transmission channels can be used in policy determination. This paper empirically analyzes the bank lending channel, one of the transmission mechanisms of monetary policy in Turkey. In this paper, data between 1996:06-2006:09 are examined using VAR methodology. According to the findings, the credit channel in Turkey operates partially.

This paper provides a description of We Can Resolve Our Conflicts education program designed to prevent and reduce aggression in elementary school students and an overview of its theoretical and empirical foundations. The program was based on the theories of empathy, anger control, social information processing, and constructive conflict resolution. Effectiveness of the program was also examined by two empirical studies. The program aims active participation of the students therefore materials interesting for children such as stories, photos, cartoons, posters, films and different techniques such as pen and paper activities, class discussions, plays, role-plays, drama are utilized in the program. Studies examining the effectiveness of conflict resolution education programs have suggested that social and emotional skills can be taught and aggression can be reduced by these acquisitions.

This paper presents the annual increase in the Gross National Product (GNP), which makes countries powerful, provides the social and ecenomic welfare of a country's people and enables the economic development by means of a continuous increase in production each year, over consumption. It also explains the topic of investment analyses which includes stages of preparation of investment projects considering domestic and international markets; examples from Turkey and from various other countries are given. It is also stated in this paper that the most important reason for the economic and the social bottleneck thatTurkey has been going through today is the extravagancy and the expenses made for years without any detailed investment analyses or any kind of plans or programs. In addition to these, an overview of the Turkish economy and its bottlenecks in 1999 have been given in this paper.

This study aims to explore the influence of Human Resource Management (HRM) activities and organizational climate on corporate innovativeness level in United States of America. The data is collected through interviews from 546 employees in US. The study first examines the relative influence of seven HRM activities of i) behavior and attitudes (in recruitment and selection) ii) teamwork iii) extensive training, iv) written policies, (v) training in multiple functions vi) performance appraisal and incentives, vii) feedback on innovativeness level. Secondly, the influence of five factors relating to organizational climate are examined. The second group factors are i) support for innovation, ii) workload pressure, iii) cohesion, iv) organizational boundaries and v) organizational ethics. The paper presents the influence of the two groups of factors on corporate innovativeness level.

To overcome the ambiguity about the content of the concept of modernity, the concept should be analyzed in two stages. First, the concept of modernity denotes the renunciation of the past, the appreciation of the new, and the celebration of the idea of progress. Second, the concept of modernity implies a rationalist and universalist worldview, whose rise was coincident with Descartes’ rationalist epistemology. This paper examines both historically and philosophically the content of the concept of modernity and intends to elucidate what modernity is and why it has recently been criticized.

The paper empirically examines relationship between trade openness and inflation in Pakistan using annual time-series data for the period 1947 to 2007. The empirical analysis shows that a positive relation holds between trade openness and inflation in Pakistan. The results are robust to controlling for other inflation determining variables and performing sensitivity analysis. Flexible exchange rate regime and an increase in the level of development inflate domestic inflation. Other control variables i.e. money supply, fiscal deficit, exchange rate depreciations, foreign inflation, terms of trade, foreign debt and democracy significantly affect inflation in the expected directions., Bu çalışma, 1947–2007 dönemini kapsayan yıllık veriler kullanılarak Pakistan’da dış ticaret alanında dışa açıklık ile enflasyon arasındaki ilişki ampirik olarak incelenmiştir. Ampirik analiz sonuçları, Pakistan’da dışa açıklık ile enflasyon arasında pozitif bir ilişki olduğunu göstermektedir. Sonuçlar, enflasyonu belirleyen diğer değişkenlerden ve duyarlılık analizlerinden etkilenmemektedir. Esnek kambiyo rejimi ve gelişme düzeyindeki artış yurtiçi enflasyonu artırmaktadır. Diğer kontrol değişkenleri olan para arzı, mali açık, döviz kurunun değer yitirmesi, dış enflasyon, ticaret haddi, dış borç ve demokrasi enflasyonu beklenen yönde anlamlı bir şekilde etkilemektedir

Most of the empirical papers researching the validity of Okun’s law have been assumed a symmetric relationship between change of unemployment and real output growth. However, the effect of real output growth on unemployment may be different in growth cycles expansion and contraction periods. This assumption which assumes a asymmetry in Okun’s law has been verified in the recent studies. In the study, whether Okun’s relationship is symmetric or not has been investigated for Turkish economy in the period 1950-2007 using annual time series data. Co-integration analyses including TAR and M-TAR models have been used to test the asymmetric relationship. The findings of the study have shown that Okun’s law is valid in the long run and this relationship is asymmetric for the Turkish economy.

In this paper, it is tried to predict the market shares of the largest three companies in the white goods sector in Turkey through the use of the analytic network process. These companies are highly competitive in the white goods sector. To attract new customers and to retain the current ones, they have to compete by setting reasonable prices, produce high quality products and expand their service networks. In line with the sequence of analytic network process, first of all, an estimation of market share problem has been structured and modeled. Next, it is assessed the importance of the factors affected the market share and it is estimated the market shares of the white goods companies in Turkey using analytic network process. The estimated market share values have been compared with actual ones for the validation of the decision model.

In this paper we estimate the effects of inflation uncertainty on output gap in Turkey using monthly data for the 1986 - 2006 period. Since it includes both high and low inflationary periods, the said period offers a good sample for assessing the effects of uncertainty on output. The results suggest that inflation uncertainty had negative and statistically significant effects on output both in high inflation and disinflation periods. Our findings imply importance of stabilising inflation at low levels for economic growth.

This paper examines the short and long-run relationship between goverment revenues, expenditures, GNP and interest rates for Turkey for the period 1987:1-2003:3, using error correction model (ECM) and the augmented vector autoregressive (VAR) model developed in Toda-Yamamoto (1995). The results indicate that there is one long-run equilibrium relationship among the four variables, and the causal relationship flows unidirectionally from government revenues to expentitures both in the short and long-run, providing support for the tax-spend theory.The results further reveal that the unidirectional causal impact of revenues on expentitures is significantly negative as hypothesized by Buchanan and Wagner. Thus, higher taxes seem an optimal resolution to the budget deficits in Turkey.

The relationship between inflation and growth in Turkey is examined in this paper with time series analysis using quarterly data related to 1987-2002 period. A unidirectional casuality runs from inflation to growth within the Granger casuality analysis. The regression analysis we have made points out that inflation effects growth negatively. Every 1 point increase in inflation is found to decrease growth rate by 0.37 points during the examined period.

The paper introduces a generic quality model for application in higher education environment and investigates the role that the International Standards Organisation (ISO) 9000 requirements could play in such a model. The ISO terms have been translated into education terms and priority action plans have been developed to aid implementation. The generic model and the ISO system have been complemented with a quality manual. The latter identifies a number of processes and how these processes can be implemented in theory and in practice. A university has been selected to test the applicability of the various elements of the generic and ISO models and how the two approaches could be integrated and what else needs to be considered. Special references are made to higher education institutions that have adapted an ISO 9000 based system.

Orhan Pamuk’s latest novel Benim Adim Kirmzi (My Name is Red) is a historical, detective and love story concerning the 16th century Ottoman nakkas (a general term for painters, illuminators and miniaturists in Islamic art). In this novel, Pamuk intends to build up a dialogue between the 16th century Ottoman artists and the 20th century Turkish reader. The writer desires to construct a second type of dialogue, which is between the East and the West, through the novel’s postmodern metafictional form. The aim of this paper is to analyze how Pamuk introduces the art of the East by using the technique of the West. To achieve this aim, first the discussion among the nakkas on stylistic differences in Western and Eastern art will be examined, then the structure of the novel will be scrutinized.