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Copyright of Bingol University Journal of Economics & Administrative Science is the property of Bingol University Journal of Economics & Administrative Science and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The environmental pollution caused by climate change and global warming pose significant risks to health. This raises the question how environmental disturbances can affect health expenditures. Based on this, this study examines the asymmetric effect of environmental quality on health expenditures in Türkiye using the non-linear ARDL (NARDL) model for the 1975–2019 period. In addition to environmental quality, natural resources, economic growth, and trade openness variables are also included in the health expenditure model. The findings support the existence of an asymmetric cointegration relationship between the series. The findings also indicate that positive environmental pollution shocks affect health expenditures positively in the long run, while negative environmental pollution shocks do not have a statistically significant effect on health expenditures. Positive and negative natural resource shocks affect health expenditures negatively in the long run. Despite the effect of positive economic growth shocks on health expenditures is positive but statistically insignificant, the effect of negative economic growth shocks is positive and significant. Besides, positive trade openness shocks have a negative effect on health expenditures and negative trade openness shocks have a positive effect. The findings prove that the steps to be taken to protect the environment in the current period will increase the effectiveness of health expenditures in the future. This situation has a guiding feature for policy-makers in terms of policy decisions. [ABSTRACT FROM AUTHOR]

The income inequality-economy link has been argued by researchers a long time. But the impact of income inequality on environmental pollution is a new investigation topic for developing countries. Turkey is well known as an emerging economy which has a high level of income inequality and CO2 emissions. Therefore, this paper concentrates on the income inequality-CO2 emissions link in Turkish economy by applying a nonlinear analysis. This paper integrates economic growth and financial development to the CO2 emissions specification over the period of 1987–2019. We employ the nonlinear autoregressive distributed lag approach to explore the long-run nonlinear linkages between the series. Our findings reveal an asymmetric cointegration among variables. Positive and negative income inequality shocks positively affect CO2 emissions implying that positive and negative shocks of income inequality enhance CO2 emissions in the long run. Negative economic growth shocks decrease CO2 emissions, while positive shocks to financial development increase CO2 emissions in the long run. We provide important policy suggestions that might be useful to the policymakers to decrease CO2 emissions in Turkey. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Emerging Economies & Policy is the property of JOEEP: Journal of Emerging Economies & Policy and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Renewable energy is an important alternative energy source in terms of both sustainable growth and climate change. In this paper, the causality nexus between renewable energy consumption and economic growth is analyzed in 15 emerging countries covering the period from 1990 to 2015. The paper adopts the bootstrap panel causality test which is developed by (Kónya, Econ Model 23:978–992, 2006) to consider the cross-sectional dependence. The results of (Kónya, Econ Model 23:978–992, 2006) prove the validity of the neutrality hypothesis in all countries. Then, we analyze asymmetric causality among the variables. Asymmetric test denotes a causality from negative shocks of economic growth to negative shocks of renewable energy consumption in South Africa, Thailand, and Turkey. Thus, a negative shock in economic growth hampers renewable energy consumption in these countries. Our results demonstrate the consequences of the application of disaggregated data in the analyses. [ABSTRACT FROM AUTHOR]

Unemployment is a preferential and important problem for all societies to overcome. Unemployment causes loss in the economic potential and in addition to this, unemployment has psychological, social, economic, and political aspects, so the problem becomes multidimensional. In this study, the effect of economic growth on the types of unemployment is examined in the scope of Okun's Law and Jobless Growth hypothesis. The data was compiled from the World Bank database and covers the years 1988-2018. As unemployment rates; total, male, female, youth, young-male, and young-female data are taken. After unit root tests, the causality relationship between the variables is examined with the asymmetric causality test developed by Hatemi-J and E. Roca. According to the results obtained; internal and external economic shocks cause structural breaks and so hysteresis effect becomes valid on the unemployment series. There is an asymmetrical relationship between the variables. Economic growth causes a decrease in general, youth, and female unemployment rates and Okun's Law is valid to these series. The Jobless growth approach applies for relations from economic growth to general-male and young-male unemployment rates. As a result; Turkey may/should apply macroeconomic policies focused on economic growth in order to eliminate hysteresis effect and reduce unemployment rates. [ABSTRACT FROM AUTHOR]

• This paper examines asymmetric effects of MP shocks on economic activity in Turkey. • Using Markov Switching Model, the paper uses both business cycle and credit cycles. • Economic activity responds asymmetrically to MP shocks. • Shocks during contractions are more significant than shocks during expansions. • The asymmetric effect is stronger when credit cycles determine the state of economy. In this paper, we examine the asymmetric effects of monetary policy shocks on economic activity in Turkey. We use quarterly data for the gross domestic product (GDP) and industrial production along with their sub-sectors for the 2006Q1–2017Q4 period. We implement a Markov Switching Model to endogenously determine the states of the economy with two different variables: we first use real aggregate GDP data to determine the expansionary or contractionary business cycles and then we use credit data to determine expansionary or contractionary credit cycles. We find that the monetary policy shocks have stronger effects on both the GDP, industrial production and their sub-components during contractionary periods, while the results are much weaker for the expansionary periods. Moreover, the asymmetric effects become more apparent when we use credit cycles for the determination of economic states. [ABSTRACT FROM AUTHOR]

In this study, it was aimed to reveal the effect of tourism sector in Turkey on the economy between the years of 1980-2016. Within this context, the effect of tourism incomes on the growth rate of GDP per capita in the ARDL model established. According to error correction factor found as a result of the analysis, the effect of shock that is possible to occur in the short term within the model without constant term can be eliminated in 1/1.10 term whereas the effect of shock in the model with constant term can be eliminated in 1/1.95 term. Moreover, a significant and positive relation between the factors was identified in the short and long term. It is believed that the sector should be featured more in order to increase these positive effects of Turkish tourism on economy. [ABSTRACT FROM AUTHOR]

This study analyzes the asymmetric causality between tourism development and economic growth for the period 1995–2016 in 9 emerging countries. Kónya [2006. Exports and growth: Granger causality analysis on OECD countries with a panel data approach. Econometric Modelling, 23(6), 978–992] panel causality test results indicate that there is no causality between tourism development and economic growth. However, the asymmetric panel causality test, which examines hidden causality between variables, shows that there is causality from the positive shocks of tourism development to the positive shocks of economic growth in Argentina and Turkey. In terms of negative shocks, causality is determined only for the Philippines from tourism development to economic growth. These results denote that the hidden tourism-led growth hypothesis is valid in Argentina, Turkey, and the Philippines. [ABSTRACT FROM AUTHOR]

Copyright of Istanbul Commerce University Journal of Social Sciences / İstanbul Ticaret Üniversitesi Sosyal Bilimler Dergisi is the property of Istanbul Commerce University Journal of Social Sciences and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of bilig: Journal of Social Sciences of the Turkish World is the property of bilig: Journal of Social Sciences of the Turkish World and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Financial stability is a situation in which a financial system can absorb shock without significant disturbances in its current and future functioning and which has no negative impact on the economy. After 2007 global crisis, the Importance of bank stability better understood. This paper investigates the determinant of bank stability in selected Balkan countries and Turkey. For this aim, we used to Z-score and NPL as dependent variables. We used bank performance, financial structure and macro variables as independent variables. According to ANOVA test and regression analysis, the strongest correlation between non-performing loans as the dependent variable of the Western and some EU Member countries (Bosnia and Herzegovina, Serbia, Croa- tia, Slovenia, Montenegro, Macedonia) and Turkey was achieved with the following independent variables: the total non-interest income to total income and foreign bank assets to total bank assets. Observed on the other hand, the weakest link between NPLs as a dependent variable was achieved with the following independent variables: the gross domestic product, the net interest margin ratio, Lerner index and the cost to income. Another dependent variable, i.e. Z-score was recorded the strongest correla- tion with the following independent variables in the model: the gross domestic product, the Lerner index, the net interest margin and the cost to income. The weakest link was achieved with the following independent variables: the total non-interest income to total income and the foreign bank assets to total assets. The survey covers the period from 2006-2017 as yearly. Therefore, through a multiple regression analysis, non-per- forming loans and Z-Score to changes in endogenous variables will be tested. [ABSTRACT FROM AUTHOR]

Copyright of Kastamonu University Journal of Economics & Administrative Sciences Faculty / Kastamonu Üniversitesi Iktisadi ve Idari Bilimler Fakültesi Dergisi is the property of Kastamonu University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Persistence of shocks to economic time series may differ depending on the sign of the shock or on a threshold value. Threshold moving average (TMA) models, by explicitly taking into account threshold behavior, can help discriminate whether there exists persistence asymmetry. This article considers TMA models in which both contemporaneous and lagged asymmetric effects are both present and examines the properties of simulation-based efficient method of moments estimation using Monte Carlo simulation experiments. The model is applied to analyze the persistence properties of shocks to growth rates of gross domestic product and industrial production index in Turkish economy. [ABSTRACT FROM AUTHOR]

This is the first study that aims to investigate policy shocks to energy consumption in terms of unit root properties by sector. More precisely, we analyze the stationarity of electricity consumption for 12 regions of Turkey by four sectors in addition to total electricity consumption by region (for a total of 60 cases). We find that 48 cases are non-stationary and 12 cases are stationary. Thus, policies to decrease or stimulate the use of electricity have permanent effects on electricity consumption in 80% of the cases and transitory effects in the rest. Findings and policy implications are further discussed. [ABSTRACT FROM AUTHOR]

This study investigates the asymmetric effects of monetary policy shocks on the macroeconomic variables of exchange rate, output and inflation for an emerging economy ‒ Turkey ‒ by using monthly data between 1990 and 2014. We employ the innovative nonlinear vector autoregressive model of Kilian and Vigfusson (2011), which allows us to observe the effect of different stances (tight or loose) and different sizes (small or large) of monetary policy actions. Our empirical evidence reveals that tight monetary policy, which, in this case, is captured with a positive shock to interest rate, decreases exchange rate, output and prices, as economic theory suggests. Loose monetary policy, which is captured with a negative shock to interest rate, has the opposite effect on these variables. However, the effects of loose monetary policy are weaker than the effects of tight monetary policy because loose monetary policy shocks are less effective than tight monetary policy shocks. Moreover, as the magnitude of a shock increases, the difference between the effects of tight and loose monetary policy policies also increases. [ABSTRACT FROM AUTHOR]

This research has attempted to demonstrate what were the real reasons whether internal or external factors, behind the Turkish financial crisis in 2001. The Turkey economy had been affected by some unfavourable external shocks such as, rise in crude oil prices which increased the current account deficit. However, external factors effects on the economy can be eliminated by right monetary policy. On the other hand, there were many internal factors behind the crisis such as fragile finance and banking system, ruling out dis-inflation negative effects and seasonal factors and so on. It could be advocated that these factors led the Turkish economy into uncertain situation because, when the last global financial crisis was occurred in 2008, although all unexpected external factors were soared, the Turkish economy was less affected, because the Turkish economy has been become more durable by solving the internal triggering factors. [ABSTRACT FROM AUTHOR]

The 'Incentives Programme for the Tourism Industry in Turkey' foresees a high growth rate in inbound tourism revenues in the next 10 years. This study analyses the impact of various shocks on inbound tourism demand for Turkey. First, domestic and inbound tourism activities are separated by using the information provided in inputoutput tables and tourism satellite accounts. Second, social accounting matrix-based price multipliers are calculated to carry out analyses in which inbound tourism is included explicitly as one industry. The policy shocks involve a fall in energy prices and in the tax rate on tourism output. Hence, an upward pressure on inbound tourism demand is targeted via price changes in both the supply and demand sides of the industry. The empirical findings show that inter-industry effects are larger than the effects on inbound tourism, revealing that 'price' alone is not a satisfactory policy instrument for promoting the tourism industry. In other words, neither of the shocks employed is sufficiently influential to enable the tourism industry to reach the targets envisaged. [ABSTRACT FROM AUTHOR]

The aim of this study is to investigate the effects of government spending shocks on the real exchange rate and foreign trade balance in Turkey for the period of 2002:01–2012:04 within a structural VAR framework. The analysis shows that a positive shock to the government spending tends to induce real exchange rate appreciation and deterioration in trade balance. We also find that the composition of the government spending matters. Although shocks to the government nonwage consumption generate an appreciation in the real exchange rate and worsening of the trade balance, the effects of government investment shocks remain insignificant. Furthermore, the analysis demonstrates that shocks to government spending are associated with a rise in taxes, which is indicative of a spending-driven tax adjustment process in Turkey. [ABSTRACT FROM AUTHOR]

Exogenous shocks to terms of trade make relative price adjustments in small countries through exchange rate changes. Also, shocks in crude oil prices affect exchange rates. In this context, real exchange rate, foreign trade rate, and world oil price indices were tested by applying structural VAR model for the period from 1995Q1 to 2010Q2. Research findings demonstrate that a shock experienced in terms of trade affects real exchange rate in the same direction, though its effect diminishing continuously. Approximately 6% of the changes in the real exchange rate are explained by the terms of trade. A shock emerging in crude world oil prices causes a rapid fall in real exchange rates, and explains nearly 21% of the changes in the real exchange rates. [ABSTRACT FROM AUTHOR]

This study analyzes unit root properties of total and sectorial energy production and consumption series of urkey. This study is the first to analyze unit root properties of urkish energy production and consumption in detail. The unit root analysis of energy production and consumption are tested by using unit root tests based on M considering without structural break and with one and two structural breaks. According to unit root test without structural break, the unit root hypothesis is rejected only for consumption of natural gas. The unit root hypothesis is rejected for 15 out of the 33 series by the LS test with one structural break. When unit root test with two structural breaks are conducted, 25 out of the 33 series are found to be stationary around a deterministic trend. The production of hydraulic and the consumption of lignite, electricity, petroleum, coal and electricity, total energy and petroleum consumption in ransportation sector are found to be nonstationary, which indicates that the impacts of innovations on these variables will be permanent. The policy implication of the results suggests that the impacts of shocks on energy consumption and production will be temporary and not have a long memory for most of variables [ABSTRACT FROM AUTHOR]

The aim of this paper is to examine the issue of whether shocks to labor market indicators namely, unemployment, employment, labor force participation rates expressed as aggregated and disaggregated by gender are persistent or transitory by employing a range of unit root tests and long memory analysis for the period 2005:1-2011:11. The results of unit root tests without a structural break are inconclusive. The findings from the unit root test with structural breaks and long memory analysis based on Geweke Porter-Hudak, however, are conclusive, suggesting that shocks will have a permanent effect on the variables under examination. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Management & Economics Research is the property of Journal of Management & Economics Research and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In this article we aim to analyse the role of credit channel in the monetary transmission mechanism under different inflationary environments in Turkey covering the period from January 1986 to October 2009. Our results suggest that traditional interest rate channel is only valid for the post-inflation targeting period. This variable is also a more effective monetary policy tool in terms of its impacts on economic activity in both the regimes. Credit shocks itself have significant power on economic activity and prices. However, the effect of monetary shocks on credit volume is very limited, especially in the low-inflation regime. [ABSTRACT FROM AUTHOR]

Copyright of Academic Review of Economics & Administrative Sciences is the property of Academic Review of Economics & Administrative Sciences and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Price stability indicates that price levels' is being constant in time or increasing by small rates. When the price stability is the final target of the monetary policy, it becomes important that which method will be used. In Turkey, Central Bank, whose main purpose is price stability, imposes different methods and tools in different periods in order to achieve to this purpose. However, there is no permanent recover in inflation. Whereas, this failure in the stabilizing price levels leads to questioning existing policies like monetary and exchange rate targeting, it requires a new inflation targeting strategy which reduces the effects of external shocks. Although, this strategy is evaluated as more useful than others, because of its failures, it cannot be said that it is perfect. Turkey tried to impose monetary and exchange rate targeting policies in previous terms but failed. Turkey applied inflation targeting policy implicitly after 2002 and explicitly after 2006. [ABSTRACT FROM AUTHOR]