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Research background: The relationship between the economy and the environment is one of the most frequently encountered issues recently. Today the issue of environmental sustainability is one of the problems faced by countries. Purpose: This study, it is aimed at investigating the relationship between economic and environmental variables. Research methodology: The existence of the environmental Kuznets curve theory, in other words, the inverted U-connection between per capita carbon dioxide emissions, per capita ecological footprint, and per capita GDP in the examples of 10 developing countries is examined. We analyzed annual balanced panel data covering the period 1992–2014 for an inverted U-link between carbon dioxide emissions and ecological footprint and per capita GDP. Westerlund’s cointegration test was applied as a cointegration test. The Common Correlated Effects Mean Group (CCEMG) and Augment Mean Group (AMG) estimator methods were applied for long-term parameter estimation. The Dumitrescu and Hurlin causality test was applied to determine the causal connections. Results: As a result of the study, a positive and significant effect of electricity consumption on carbon dioxide emission was determined in the long term in the model where the ecological footprint is the dependent variable. In the environmental Kuznets curve hypothesis, an inverted U-shaped relationship was determined. That is, the results confirming the existence of the environmental Kuznets curve have been determined. Finally, bidirectional causal links between carbon emissions and economic growth, between carbon dioxide emissions and the square of economic growth, and between carbon dioxide emissions and electricity consumption; It is observed between the ecological footprint and economic growth, between the ecological footprint and the square of economic growth, and between the ecological footprint and electricity consumption. It is expected that this article will make a significant contribution to the literature with the important results obtained by using both an ecological footprint and carbon dioxide emission as dependent variables. Novelty: In this study, unlike other studies, two models were created with both CO2 emissions and the ecological footprint data as environmental variables.

Bu çalışmanın amacı hem gelişmekte olan hem de gelişmiş ülkelerde ayrı ayrı genç işsizliğinin ekonomik belirleyicilerinin araştırılmasıdır. Çalışmamızda kullanılan ülke örnekleri Dünya Bankası’nın kişi başına GSYH’ye dayalı olarak yapmış olduğu sınıflandırmaya göre seçilmiştir. Analizde kullanılan modelde 1996-2019 dönemi için 40 adet gelişmiş ve 55 adet gelişmekte olan ülke ele alınmıştır. Yapılan ampirik çalışmalardan yola çıkılarak kişi başına GSYH, ticaret, tüketici fiyat endeksi (2010=100) ve doğrudan yabancı yatırım bağımsız değişken olarak belirlenmiştir. Bağımlı değişken olarak toplam genç işsizlik verisi alınmıştır. Kao ve Johansen-Fisher eşbütünleşme testleri ile değişkenler arasında uzun dönemde eşbütünleşme ilişkisi tespit edilmiştir. Gelişmiş ülkelerde DOLS ve FMOLS tahmincisi sonuçlarına göre genç işsizlik ile kişi başına GSYH arasında negatif ve anlamlı bir ilişki belirlenmiştir. Gelişmekte olan ülkelerde DOLS tahmincisi sonuçlarına göre genç işsizlik ile kişi başına GSYH arasında anlamlı bir ilişki belirlenememiştir. Ancak FMOLS tahmincisi sonuçlarına göre kişi başına GSYH’nin genç işsizlik üzerindeki etkisi negatif ve anlamlı olarak belirlenmiştir. Dumitrescu ve Hurlin nedensellik testine göre gelişmiş ülkelerde kişi başına GSYH ile genç işsizlik arasında nedensellik ilişkisi belirlenememiştir. Gelişmekte olan ülkelerde ise kişi başına GSYH ile genç işsizlik arasında çift yönlü nedensellik tespit edilmiştir., The aim of this study is to investigate the economic determinants of youth unemployment in both developing and developed countries separately. The country samples used in the study were selected according to the classification made by the World Bank based on GDP per capita. In the model used in the analysis, 40 developed and 55 developing countries were considered for the period 1996-2019. Based on empirical studies, per capita GDP, trade, consumer price index (2010=100) and foreign direct investment were determined as independent variables. Total youth unemployment was taken as the dependent variable. With Kao and Johansen-Fisher cointegration tests, in the long run a cointegration relationship between the variables was determined. According to DOLS and FMOLS estimator results in developed countries, a negative and significant relationship was determined between youth unemployment and GDP per capita. According to the DOLS estimator results in developing countries, no significant relationship could be determined between youth unemployment and GDP per capita. However, according to the FMOLS estimator results, the effect of GDP per capita on youth unemployment was determined as negative and significant. According to the causality test of Dumitrescu and Hurlin, a causal relationship could not be determined between GDP per capita and youth unemployment in developed countries. In developing countries, bidirectional causality was found between GDP per capita and youth unemployment.

Yatırım ve tasarruf arasındaki ilişkinin belirlenmesi iktisat yazınının önemli bir konusu olmuştur. Bu sebeple Feldstein ve Horioka (1980) tarafından öne sürülen yurtiçi tasarruf ve yatırım korelasyonu gelişmekte olan ekonomiler için gözden geçirilmiş ve 1990-2020 dönemi için test edilmiştir. Veriler panel veri özellikleri, yatay kesit bağımlılık ve heterojenliğin varlığı ile uygun şekilde analiz edilmiştir. Genişletilmiş Ortalama Grup (AMG) Tahmincisi ile katsayı tahmini yapılmıştır. 1990-2020 döneminde tasarrufların yatırımlar üzerinde pozitif ve anlamlı etki oluşturduğu ve tam sermaye hareketliliğinin sağlandığı belirlenmiştir. Sonuçlar, Feldstein ve Horioka hipotezini doğrulamaktadır. Seriler arasındaki nedensel bağlantıları araştırmak için Emirmahmutoğlu ve Köse (2011) panel nedensellik testi uygulanmıştır. Fakat panel genelinde değişkenler arasında nedensel bağlantı bulunamamıştır.

Increases in public debt may have negative effects on many economic variables such as growth, budget deficit and inflation. The increasing cost of borrowing, especially with the emerging uncertainties, leads to an increase in interest rates. On the other hand, increasing interest rates decrease investment rates and result in a decrease in economic growth rates. For this reason, public debt is a very important factor that directly affects the macroeconomic variables of countries through long-term interest rates. The effect of long-term interest rates on public debt is the aim of this study. For this aim, in our study, annual data for the period 1995-2020 were tested with panel data analysis methods to determine the relationship between long-term interest rate, public debt, inflation and economic growth in 15 OECD countries. In this study, no relationship was found between the long-term interest rate and public debt. However, as a result of the causality analysis, a mutual causality relationship was determined between the long-term interest rate and the public debt.Key Words: Long term interest rate, government debt, panel dataJEL Classification: A10, H50, C32, C33, Kamu borçlarında meydana gelen artışlar, büyüme, bütçe açığı, enflasyon gibi pek çok ekonomik değişken üzerinde olumsuz etkilere yol açabilmektedir. Özellikle ortaya çıkan belirsizliklerle birlikte borçlanmanın ortaya çıkaracağı artan maliyet, faiz oranlarının yükselmesine yol açmaktadır. Öte yandan artan faiz oranları yatırım oranlarını azaltarak ekonomik büyüme oranlarının azalmasına yol açmaktadır. Bu nedenle kamu borcu, uzun dönem faiz oranları kanalıyla ülkelerin makroekonomik değişkenlerini de doğrudan etkileyen önemli faktörlerden biri olmaktadır. Uzun dönem faiz oranlarının kamu borcu üzerindeki etkisi bu çalışmanın amacını oluşturmaktadır. Bu amaçla çalışmamızda 15 OECD ülkesinde uzun dönem faiz oranı, kamu borcu, enflasyon ve ekonomik büyüme arasındaki ilişkiyi belirlemek için 1995-2020 dönemine ait yıllık verileri panel veri analizi yöntemleri ile test edilmiştir. Çalışmada uzun dönem faiz oranı ile kamu borcu arasında bir ilişki bulunamamıştır. Ancak nedensellik analizi sonucunda uzun dönem faiz oranı ile kamu borcu arasında karşılıklı nedensellik ilişkisi belirlenmiştir. Anahtar Kelimeler: Uzun dönem faiz oranı, kamu borcu, panel veri JEL Sınıflandırması: A10, H50, C32, C33

Göç, son yıllarda sık sık tartışılan konulardan biridir. Bu nedenle bu çalışmanın amacı seçilmiş ülkelerde göçün ekonomik büyüme üzerindeki etkisini ortaya koymaktır. Çalışmada göç ve ekonomik büyüme ile ilgili ampirik literatür incelenerek farklı ülkeler üzerinden örnekler verilmektedir. Göçün seçilmiş ülkelerin ekonomik büyüme üzerindeki etkileri, 20062017 dönemine ait verilerle tahmin edilmektedir. Ülke seçiminde 2011 yılından itibaren en fazla Suriyeli mülteci alan ülkeler kriteri dikkate alınmıştır. Bu kapsamda analizde Türkiye, Lübnan, Ürdün, Almanya, Irak, Mısır, İsveç, Avusturya, Amerika ve Kanada’ya ait veriler kullanılmıştır. Çalışmamızın sonucunda ülkeye gelen mültecilerin ekonomik büyümeye katkısının pozitif ve istatistiksel açıdan anlamlı olduğu belirlenmiştir. Ülkeye gelen mülteci sayısında %1 oranında artış ekonomik büyüme oranında %0.01’lik artışa sebep olmaktadır., Migration is one of the topics that has been discussed frequently in recent years. Therefore, the aim of this study is to reveal the effect of migration on economic growth in selected countries. In the study, empirical literature on migration and economic growth is examined and examples are given from different countries. The effects of migration on economic growth of selected countries are estimated with data for the period 2006–2017. In country selection, the criteria of countries receiving the highest number of Syrian refugees since 2011 have been taken into account. In this context, data from Turkey, Lebanon, Jordan, Germany, Iraq, Egypt, Sweden, Austria, America and Canada were used in the analysis. As a result of our study, it was determined that the contribution of refugees to the country's economic growth was positive and statistically significant. An increase of 1% in the number of refugees coming to the country causes an increase of 0.01% in the economic growth rate.

The relationship between the environment and the economy is one of the most frequently encountered issues recently. One of the problems that countries have faced recently is environmental sustainability. Therefore, this study is purposed to examine the relationship between environmental and economic variables. In the example of 24 OECD member countries, the entity of Environmental Kuznets curve theory is examined in the inverse U-link between per capita GDP and per capita carbon dioxide emissions. We analyzed the inverted U-link between CO2 emissions and per capita GDP in annual balanced panel data covering the period 1980–2014. Westerlund’s cointegration test was used for analysis. For long-term parameter estimation, PMG (Pooled Mean Group) estimator methods were applied. Dumitrescu and Hurlin Granger causality test was performed to specify causal connections. As a result of the study, it is pointed out that first of all, electricity consumption has a positive and significant effect on CO2 emissions in the long run. Secondly, our findings show that environmental degradation is in an inverted U shape in the Environmental Kuznets Curve hypotheses. That is to say, results were obtained verifying the existence of the Environmental Kuznets Curve theory. Eventually, bidirectional causal links are observed between CO2 emissions and economic growth and between CO2 emissions and electricity consumption.

It is known that extraordinary events such as epidemics, political events, and earthquakes have impacts on stock market returns. The study aims to explain the impact of Covid-19 outbreak on stock market returns in emerging market economies. Therefore, in the study, two different models are established to measure the impact of both Covid-19 cases and deaths related to Covid-19. In the study, Arellano, Froot and Rogers Random Effects Estimator and Arellano–Bond GMM Estimator are applied. As a result of the study, according to Arellano, Froot and Rogers Random Effects Estimator results, it is determined that Covid-19 cases have a positive and significant effect on the stock market. However, according to the Arellano–Bond GMM Estimator results, no significant effect of Covid-19 cases on the stock market is found. The effect of Covid-19 deaths on the stock market index is determined as positive and statistically significant according to both Arellano, Froot and Rogers Random Effects Estimator and Arellano Bond estimator., Salgın, siyasi olaylar, deprem gibi olağanüstü durumların borsa getirileri üzerinde etkisi olduğu bilinmektedir. Bu çalışma, yükselen piyasa ekonomilerinde Kovid-19 salgınının borsa getirileri üzerindeki etkisini açıklamayı amaçlamaktadır. Bu nedenle çalışmamızda hem Kovid-19 vakalarının hem de Kovid-19’a bağlı ölümlerin etkisini ölçmek amacıyla iki ayrı model kurulmuştur. Çalışmamızda Arellano, Froot ve Rogers Tesadüfi Etkiler Tahmincisi ve Arellano–Bond GMM Tahmincisi uygulanmıştır. Çalışmanın sonucunda Arellano, Froot ve Rogers Tesadüfi Etkiler Tahmincisi sonuçlarına göre Kovid- 19 vakalarının borsa piyasası üzerinde pozitif ve anlamlı bir etkisi olduğu belirlenmiştir. Ancak Arellano–Bond GMM Tahmincisi sonuçlarına göre kovid-19 vakalarının borsa piyasası üzerinde anlamlı bir etkisi bulunamamıştır. Kovid-19 ölümlerinin borsa endeksi üzerindeki etkisi ise hem Arellano, Froot ve Rogers Tesadüfi Etkiler Tahmincisi hem de Arellano Bond tahmincisine göre pozitif ve istatiksel olarak anlamlı belirlenmiştir.

Today, it is expected that the technological developments will reduce the working hours and allow more leisure time for people. However, the thought that this will negatively affect the economic output is an obstacle to the realization of this expectation. For this reason, the relationship between working hours and per capita output across countries should be examined. In this study, which was conducted to investigate whether the annual working hours affect the output per employee, in other words the labor productivity, except factors such as capital stock, human capital and technology level, a dynamic panel analysis was made using the annual data of 61 countries from 1950 to 2014. According to the estimation results, there is a non-linear relationship between the annual working hours and the labor productivity of the country. While labor productivity increases as working hours increase up to a certain level, increases above this level affect labor productivity in the negative direction. This shows that it is possible and necessary to reduce working hours through legal regulations in countries where working hours are high enough to reduce labor productivity.

This study is including fast-growing emerging countries (Brazil, Russia, India, China, South Africa, and Turkey) and using the panel data analysis methods for high-technology exports of determinants 1996–2017 period. We chased some variables for our analyses, they are as follows: high-technology export is dependent variable, and economic growth, foreign direct investment, gross capital formation, patent, and trade openness were used as independent variables. After the stability of the variables was tested with first-generation unit root tests, cointegration tests were used to investigate the long-term relationship between the variables. As a result of the study, long-term relationship was determined between the variables discussed. After determining the cointegration relationship, the coefficients were estimated with the FMOLS (Full Modified Ordinary Least Square) estimator. The effects of economic growth, foreign direct investments, patents, and trade deficit on high-technology exports were found to be significant. As a result, product exports should be increased with the support of high technological product exports.

The aim of this study was to investigate the health-led growth hypothesis in selected 19 OECD countries. Therefore, in this study, different cointegration tests were applied to investigate the relationship between health expenditures and economic growth for the period 1980-2017. The coefficients of the panel regression equation were estimated by the fixed effect method. According to the results, long-term relationship between health expenditures and economic growth was found. Health-led growth hypothesis for selected OECD countries (Australia, Austria, Belgium, Canada, Denmark, Finland, Iceland, Ireland, Japan, Korea, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, United Kingdom, United States) are supported. That is, a long-term relationship between health expenditure and economic growth has been found., Cilj ove studije je istražiti hipotezu rasta vođenog zdravljem u izabranih devetnaest zemalja OECD-a. Zbog toga su u ovoj studiji primijenjeni različiti testovi kointegracije kako bi se istražila povezanost zdravstvenih rashoda i gospodarskog rasta za razdoblje 1980.-2017. Koeficijenti panel regresije procijenjeni su metodom fiksnog učinka. Prema rezultatima pronađena je dugoročna veza između zdravstvenih rashoda i gospodarskog rasta. Hipoteza rasta predvođena zdravljem provedena u izabranim zemljama OECD-a (Australija, Austrija, Belgija, Kanada, Danska, Finska, Island, Irska, Japan, Koreja, Nizozemska, Norveška, Portugal, Španjolska, Švedska, Švicarska, Turska, Velika Britanija, Sjedinjene Države) je potvrđena. Drugim riječima, pronađena je dugoročna veza između izdataka za zdravstvo i gospodarskog rasta.

Monetary policy determinants determine economic and monetary policies by taking some variables as reference. In this regard, fourteen developing countries with similar characteristics with Turkish economy and the relationships between macroeconomic variables and monetary policy shall be described. In this study, relationships between monetary policy and macroeconomic variables are investigated for emerging countries. We used 2010M1-2018M12 period and analyzed the relationship between panel data analysis methods, money supply, inflation, interest rate, exchange rate, export, import and oil prices. A cointegration analysis was used to investigate the long-term relationship between variables. According to the results of the panel data analysis, long term relationship was found between the variables. Inflation, interest rate and oil prices had a decreasing effect on money supply, while exchange rate and exports had a positive effect on money supply.

There are studies examining the relationship between real wage, inflation and labor productivity in the economic literature. Increase in real wages causes to an increase in labor productivity. On the other hand, productivity increases also induce inflation to fall. Therefore, the aim of this study is to investigate the relationship between real wage, inflation and labor productivity in the 22 OECD countries (Australia, Belgium, Canada, Chile, Czech Republic, France, Greece, Hungary, Japan, Korea, Latvia, Luxembourg, Mexico, Netherlands, New Zealand, Poland, Portugal, Slovak Republic, Slovenia, Spain, Turkey, United States) in the period of 1995-2017 by panel data methods. According to results, the cointegration relationship between real wage, inflation and labor productivity was found. In addition, mutual causality was determined between the variables we discussed.

Economics is the art of providing unlimited human needs with scarce resources as it comes to teaching. Very few of these resources have been used in such a way that they are ready in nature. Almost all of the goods and services that can meet the needs are obtained by the application of human labor (labor force) and capital to commodity. In recent years, labor capital and commodity factors were first added to entrepreneurs and then technology. Thus, the system we call the production process emerges. This study based on the information economy, the information economics indicator with Turkey's latest data is intended to demonstrate the performance. First of all, after the conceptual framework of the information economics, its distinctive qualities and development process, the effects of these developments on societies and economies will be evaluated. For the intended purpose, indicators such as R&D activities and R&D personnel employment, patent application and registration numbers, number of scientific publications and access to information were examined in Turkish economy. Finally, Turkey made the comparison with developed countries in economic terms and has been observed that the desired level of the Turkish economy in terms of the information economics.

From the second half of the twentieth century, human capital has begun to be added in an increasing manner, especially to the basic production factors considered as labor, capital, entrepreneur and natural resource in classical economic theory. With this structural change in production, the development of human capital has become of great importance for internal growth models. Nowadays, as the strength of the arm power is greatly reduced in production, the brain power has increased in importance, and the idea of people investing in themselves has begun to be widely accepted. Education, which is one of the important dynamics of human capital with health, plays an important role in this context. Increasing the level of success with the higher education level, recruitment of qualified workers, better employment opportunities and increased earnings are significant contributors to growth and prosperity in OECD countries. In this study, the relationship between educational expenditures and economic growth for selected 19 OECD countries is analyzed using the panel data method.

This paper focuses on why the debate over neoliberal globalization is so popular around the world at the beginning of the 21st century and investigates the new instituonal economics responses. Crises are not new to capitalism, but we all have been witnessing devastating economic, social, cultural, and political fluctuations in the global economic order. Classical welfare economics ignores distributional effects of theory and morality. Global poverty, inequality, unemployment, unfair trade, migration, environmental disasters etc. are paradoxes or evils of neoliberalism and not sustainable for future of humanity. In order to explain evolution of major causes of the conflicts related to globalization historically, we review a wide range of the literature and analyze the recent discussions of controversial topics on global welfare and governance implications of neoclassic economic thought. The study concludes that there is a growing consensus on the inedequacy of welfare economics in global society. Technological progress and corporate-led economic globalization in real World result in economic nationalism. Retreat from globalisation may be the beginning of a new phase of capitalism. The new instituonal economics says that institutions and social order matter on well-being and development. So we should rethink losers and winners from neoliberal globalization and reshape rules of global economic order in favor of global losers.

The concept of middle income trap is a frequently discussed issue in recent years. In this study, time series analysis was conducted using annual data for the period 1971-2015 in Turkey. This study, GDP per capita, manufacturing industry, domestic savings and schooling rate in higher education were selected as variables in the study considering the frequency of use in the literature. Findings show the existence of a long-term relationship between the variables we use. It is also determined that manufacturing industry and gross domestic savings are the cause of GDP. Policies for manufacturing industry should be developed, and domestic savings rate should be increased not to fall into the middle income trap of Turkey's.