Endogenous economic growth theory claims that differences in economic growth rates will occur as ... more Endogenous economic growth theory claims that differences in economic growth rates will occur as a result of economic policies among countries. This policies are related to subjects such as physical capital accumulation, human capital accumulation and technological progress. Endogenous growth models emphasize that economic growth performance is affected by intentional goverment policies For this reason this models guide to developing countries such as Turkey for their growth and development path. In this paper leading endogenous growth models are investigated via searching related literature. According to this perspectives, endogenous growth dynamics and current position of Turkey economy are analyzed. Findings imply that in Turkey there are inedequate macroeconomic enviroment for endogenous economic growth and it was seen that economic performance of Turkey hadn't concluded as per the suggestion of endogenous economic growth.
ABSTRACT According to Romer (1986) and Lucas (1988) endogenous growth models, it is possible to h... more ABSTRACT According to Romer (1986) and Lucas (1988) endogenous growth models, it is possible to have sustainable growth through physical and human capital accumulation not necessarily based on exogenous technologic development. Because, physical and human capital accumulation simultaneously brings the
DIEM : Dubrovnik International Economic Meeting, Oct 9, 2017
Middle income trap is the condition of having the per capita income in a specific level and not h... more Middle income trap is the condition of having the per capita income in a specific level and not having any increase in this income level for many years. The concept of middle income trap is a subject that is frequently discussed in the economic literature in recent years. In this study, it is aimed to evaluate whether Turkey is in middle income trap or not. In addition, the effect of manufacturing industry's share in GDP, schooling rate in higher education and the share of domestic savings in GDP on per capita income level was examined by time series analysis in this context and arguments related with the middle income trap was made. The relationship between the variables in the study was analyzed by Engle Granger cointegration and Engle Granger causality analysis methods. According to the obtained results, a long term relationship was found between the variables which we use. The share of the manufacturing industry within GDP occurred as the cause of the per capita income level. No causality relationship was found between the other variables. According to the evaluations, it is determined that Turkey is not in the middle income trap however it has the risk of having middle income trap.
DIEM : Dubrovnik International Economic Meeting, Oct 9, 2017
This paper focuses on why the debate over neoliberal globalization is so popular around the world... more 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 brought to you by CORE View metadata, citation and similar papers at core.ac.uk DIEM 362 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.
This paper tries to answer to the questions whether or not trade openness causes economic growth ... more This paper tries to answer to the questions whether or not trade openness causes economic growth and trade policy changes are good for Turkey as a developing country in global economy before and after 1980. We employ Johansen co-integration and Granger causality tests with error correction modeling based on vector autoregressive. Using WDI data from the pre-1980 and the post-1980, we find that trade openness and economic growth are cointegrated in the second term only. Also the results suggest a lack of long-run causality between our two variables. These findings may imply that trade policy of Turkey should concentrate more on extra complementary economic reforms.
Merkez bankalarinin temel islevi ekonomideki para yaratimini kontrol etmektir. Merkez bankalari, ... more Merkez bankalarinin temel islevi ekonomideki para yaratimini kontrol etmektir. Merkez bankalari, bir para politikasi amaci olarak fiyat istikrarini veya parasal kontrolu, kredi sistemi, hazine ve dis sektor ile gerek idari gerekse piyasa iliskileri vasitasiyla yerine getirir.Para politikasi ve ekonomi politikasi, fiyat istikrarina ulasabilmek icin belirli politika araclarinin kullanimini icerir. Bu araclar, Acik Piyasa Islemleri, Zorunlu Karsilik Oranlari ve Reeskont Oranidir. Kisa donemde, merkez bankalari bu araclar yoluyla piyasadaki baz parayi ve para arzini etkiler. Merkez bankalarinin bilanco hesaplari para politikasi kararlarinin gozlenmesi acisindan cok onemlidir. Bilanconun varliklar kismi, ekonominin likiditesinin nasil saglandigini gosterir. Diger taraftan, yukumlulukler kismi ekonomideki likidite ihtiyacinin finansman seklini gosterir. Turkiye Cumhuriyeti Merkez Bankasi’nin (TCMB) bilancosu 1990 yilindan sonra degismistir. Ayrica, para politikasi sonuclarinin gorulmesi i...
Examining the Relationship Between Economics and Philosophy, 2020
Knowledge determines the relationship between regional development and innovation in a knowledge-... more Knowledge determines the relationship between regional development and innovation in a knowledge-based economy. The Mersin Regional Innovation Strategy (RIS) Plus Project is based on the European Union's new regional innovation strategy referred to as ‘smart specialization' that is related with industrialization and economic development. This approach is an indicator of the change and transformation in the regional development paradigm in terms of knowledge generation and innovation processes. These developments also reflect the impact of complexity in the philosophy and understanding of the 21st century. Complexity Science and Complexity Economics have increasingly become determinants in the formation of institutional structures and policies within the global economic system. This chapter aims to evaluate the basic characteristics of Mersin RIS Plus Project within the framework of complexity science. This study discusses the development potentials of Mersin and TR62 regions...
Bu çalışmada Türkiye'de 2001Q3-2014Q3 dönemleri arası ihracat, ithalat ve GSYH arasındaki nedense... more Bu çalışmada Türkiye'de 2001Q3-2014Q3 dönemleri arası ihracat, ithalat ve GSYH arasındaki nedensellik ilişkileri analiz edilmekte ve bu dönemde sergilenen ekonomik büyümede ihracata dayalı büyüme teorisinin (export-led growth theory) mi yoksa ithalata dayalı büyüme teorisinin (import-led growth theory) mi geçerli olduğu test edilmektedir. Çalışmada belirtilen döneme ait üçer aylık GSYH, ihracat ve ithalat verileri yapısal kırılmalar ve doğrusal zaman serisi yöntemlerinden faydalanılarak incelenmiştir. Sonuç olarak; Türkiye ekonomisinin merkez bankasının bağımsızlığını kazanmasından sonraki dönemine ait büyümesinin "export-led growth theory" den ziyade "import-led growth theory" i ortaya koyduğu görülmekte ve buna göre de 1980'de başlatılan yapısal dönüşümün hedeflediği "ihracata dayalı büyüme" stratejisinin başarılı olmadığı, bilakis, ithalata dayalı bir büyümenin gerçekleştiği sonucuna ulaşılmıştır.
By Ahmet AY and Pınar YARDIMCI; Abstract: İçsel büyüme teorisi gelişmekte olan ülkelerde dış tica... more By Ahmet AY and Pınar YARDIMCI; Abstract: İçsel büyüme teorisi gelişmekte olan ülkelerde dış ticaret ve beşeri sermayenin teknolojik gelişmeyi etkileyerek. ...
International Journal of Diplomacy and Economy, 2018
The concept of middle income trap is a frequently discussed issue in recent years. In this study,... more 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.
Endogenous economic growth theory claims that differences in economic growth rates will occur as ... more Endogenous economic growth theory claims that differences in economic growth rates will occur as a result of economic policies among countries. This policies are related to subjects such as physical capital accumulation, human capital accumulation and technological progress. Endogenous growth models emphasize that economic growth performance is affected by intentional goverment policies For this reason this models guide to developing countries such as Turkey for their growth and development path. In this paper leading endogenous growth models are investigated via searching related literature. According to this perspectives, endogenous growth dynamics and current position of Turkey economy are analyzed. Findings imply that in Turkey there are inedequate macroeconomic enviroment for endogenous economic growth and it was seen that economic performance of Turkey hadn't concluded as per the suggestion of endogenous economic growth.
ABSTRACT According to Romer (1986) and Lucas (1988) endogenous growth models, it is possible to h... more ABSTRACT According to Romer (1986) and Lucas (1988) endogenous growth models, it is possible to have sustainable growth through physical and human capital accumulation not necessarily based on exogenous technologic development. Because, physical and human capital accumulation simultaneously brings the
DIEM : Dubrovnik International Economic Meeting, Oct 9, 2017
Middle income trap is the condition of having the per capita income in a specific level and not h... more Middle income trap is the condition of having the per capita income in a specific level and not having any increase in this income level for many years. The concept of middle income trap is a subject that is frequently discussed in the economic literature in recent years. In this study, it is aimed to evaluate whether Turkey is in middle income trap or not. In addition, the effect of manufacturing industry's share in GDP, schooling rate in higher education and the share of domestic savings in GDP on per capita income level was examined by time series analysis in this context and arguments related with the middle income trap was made. The relationship between the variables in the study was analyzed by Engle Granger cointegration and Engle Granger causality analysis methods. According to the obtained results, a long term relationship was found between the variables which we use. The share of the manufacturing industry within GDP occurred as the cause of the per capita income level. No causality relationship was found between the other variables. According to the evaluations, it is determined that Turkey is not in the middle income trap however it has the risk of having middle income trap.
DIEM : Dubrovnik International Economic Meeting, Oct 9, 2017
This paper focuses on why the debate over neoliberal globalization is so popular around the world... more 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 brought to you by CORE View metadata, citation and similar papers at core.ac.uk DIEM 362 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.
This paper tries to answer to the questions whether or not trade openness causes economic growth ... more This paper tries to answer to the questions whether or not trade openness causes economic growth and trade policy changes are good for Turkey as a developing country in global economy before and after 1980. We employ Johansen co-integration and Granger causality tests with error correction modeling based on vector autoregressive. Using WDI data from the pre-1980 and the post-1980, we find that trade openness and economic growth are cointegrated in the second term only. Also the results suggest a lack of long-run causality between our two variables. These findings may imply that trade policy of Turkey should concentrate more on extra complementary economic reforms.
Merkez bankalarinin temel islevi ekonomideki para yaratimini kontrol etmektir. Merkez bankalari, ... more Merkez bankalarinin temel islevi ekonomideki para yaratimini kontrol etmektir. Merkez bankalari, bir para politikasi amaci olarak fiyat istikrarini veya parasal kontrolu, kredi sistemi, hazine ve dis sektor ile gerek idari gerekse piyasa iliskileri vasitasiyla yerine getirir.Para politikasi ve ekonomi politikasi, fiyat istikrarina ulasabilmek icin belirli politika araclarinin kullanimini icerir. Bu araclar, Acik Piyasa Islemleri, Zorunlu Karsilik Oranlari ve Reeskont Oranidir. Kisa donemde, merkez bankalari bu araclar yoluyla piyasadaki baz parayi ve para arzini etkiler. Merkez bankalarinin bilanco hesaplari para politikasi kararlarinin gozlenmesi acisindan cok onemlidir. Bilanconun varliklar kismi, ekonominin likiditesinin nasil saglandigini gosterir. Diger taraftan, yukumlulukler kismi ekonomideki likidite ihtiyacinin finansman seklini gosterir. Turkiye Cumhuriyeti Merkez Bankasi’nin (TCMB) bilancosu 1990 yilindan sonra degismistir. Ayrica, para politikasi sonuclarinin gorulmesi i...
Examining the Relationship Between Economics and Philosophy, 2020
Knowledge determines the relationship between regional development and innovation in a knowledge-... more Knowledge determines the relationship between regional development and innovation in a knowledge-based economy. The Mersin Regional Innovation Strategy (RIS) Plus Project is based on the European Union's new regional innovation strategy referred to as ‘smart specialization' that is related with industrialization and economic development. This approach is an indicator of the change and transformation in the regional development paradigm in terms of knowledge generation and innovation processes. These developments also reflect the impact of complexity in the philosophy and understanding of the 21st century. Complexity Science and Complexity Economics have increasingly become determinants in the formation of institutional structures and policies within the global economic system. This chapter aims to evaluate the basic characteristics of Mersin RIS Plus Project within the framework of complexity science. This study discusses the development potentials of Mersin and TR62 regions...
Bu çalışmada Türkiye'de 2001Q3-2014Q3 dönemleri arası ihracat, ithalat ve GSYH arasındaki nedense... more Bu çalışmada Türkiye'de 2001Q3-2014Q3 dönemleri arası ihracat, ithalat ve GSYH arasındaki nedensellik ilişkileri analiz edilmekte ve bu dönemde sergilenen ekonomik büyümede ihracata dayalı büyüme teorisinin (export-led growth theory) mi yoksa ithalata dayalı büyüme teorisinin (import-led growth theory) mi geçerli olduğu test edilmektedir. Çalışmada belirtilen döneme ait üçer aylık GSYH, ihracat ve ithalat verileri yapısal kırılmalar ve doğrusal zaman serisi yöntemlerinden faydalanılarak incelenmiştir. Sonuç olarak; Türkiye ekonomisinin merkez bankasının bağımsızlığını kazanmasından sonraki dönemine ait büyümesinin "export-led growth theory" den ziyade "import-led growth theory" i ortaya koyduğu görülmekte ve buna göre de 1980'de başlatılan yapısal dönüşümün hedeflediği "ihracata dayalı büyüme" stratejisinin başarılı olmadığı, bilakis, ithalata dayalı bir büyümenin gerçekleştiği sonucuna ulaşılmıştır.
By Ahmet AY and Pınar YARDIMCI; Abstract: İçsel büyüme teorisi gelişmekte olan ülkelerde dış tica... more By Ahmet AY and Pınar YARDIMCI; Abstract: İçsel büyüme teorisi gelişmekte olan ülkelerde dış ticaret ve beşeri sermayenin teknolojik gelişmeyi etkileyerek. ...
International Journal of Diplomacy and Economy, 2018
The concept of middle income trap is a frequently discussed issue in recent years. In this study,... more 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.
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