Istanbul Iktisat Dergisi最新文献

{"title":"Türkiye’de Petrol Fiyatları ve Reel Döviz Kuru İlişkisinin Asimetrik Fourier Nedensellik Analizi ile İncelenmesi","authors":"Fatma Kızılkaya","doi":"10.26650/istjecon2021-1019608","DOIUrl":"https://doi.org/10.26650/istjecon2021-1019608","url":null,"abstract":"Oil-importing developing countries such as Turkey may be adversely affected by the increase in oil prices, which can raise production costs and the overall level of consumer prices. Increases in oil prices in international markets may also adversely affect the foreign trade balance of oil-importing countries. In this study, annual data for the period 1960–2019 in Turkey are used to investigate asymmetric causality relationships between oil prices and real exchange rate variables. Causality relationships between oil prices and real exchange-rate series, and between positive and negative shocks of these series, are examined using the Fourier Toda–Yamamoto method. The results show no symmetric causality relationship between oil prices and real exchange rate variables. However, a one-way causality relationship is revealed from positive oil price shocks to positive real exchange rate shocks, indicating that an increase in oil prices causes an increase in the real exchange rate in Turkey. According to these results, asymmetric effects should be considered when examining the relationship between oil prices and exchange rates in Turkey. EXTENDED ABSTRACT Petroleum and petroleum products are vital for the continuous operation of economic operations in countries around the world. Petroleum products are also an important foreign trade commodity that generates considerable income for oil-exporting countries, as well as an imperative production input of significant expenditure for oil-importing countries. These two opposing effects also represent an essential export/import commodity subject to trade between countries. Export revenue from petroleum products in the international market and import expenditure for petroleum products are among the critical variables that determine countries’ macroeconomic performance. For this reason, in the face of sudden shocks in global markets (e.g., oil supply–demand and exchange rate shocks), countries may face adverse conditions, such as stagnant economic growth, decreased foreign trade, and inflation, which can have negative effects on national welfare. like dollar such","PeriodicalId":33072,"journal":{"name":"Istanbul Iktisat Dergisi","volume":"1 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2021-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69058548","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Inequality and the Import Demand in Turkey","authors":"Zühal Özbay Daş","doi":"10.26650/istjecon2021-943291","DOIUrl":"https://doi.org/10.26650/istjecon2021-943291","url":null,"abstract":"Citation: Ozbay-Das, Z. (2021). Inequality and the import demand in Turkey. İstanbul İktisat Dergisi Istanbul Journal of Economics, 71(2), 395-410. https://doi.org/10.26650/ISTJECON2021-943291 ABSTRACT The study aims to see whether the long-run relation between inequality and import demand exists in Turkey. The Autoregressive Distributed Lag (ARDL) cointegration technique is used in this study to estimate the long-run relationships between real imports, income, relative price, real exports, and inequality for the period 1982-2015. The results revealed that the income elasticity of imports is greater than one as the literature suggests. The sign of the coefficient of relative price and its magnitude is also compatible with the literature, while it is not statistically significant. However, the results further reflect that inequality is positively associated with real imports in Turkey contrary to assumptions of the relation between inequality and imports that is found to be negative for lower income countries in some studies. Short-run coefficients reflect that real income and relative prices are associated with real imports, whereas exports and not surprisingly, inequality variables are not in the shortrun. The coefficient of income parameter is less in magnitude in the short-run but still greater than one. However, the sign of the coefficient of the relative price turns out to be positive in the short-run.","PeriodicalId":33072,"journal":{"name":"Istanbul Iktisat Dergisi","volume":"1 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2021-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69059653","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Nonlinear Relationship between Economic Growth and Tax Revenue in Turkey: Hidden Cointegration Approach","authors":"Merve Altaylar","doi":"10.26650/ISTJECON2021-908769","DOIUrl":"https://doi.org/10.26650/ISTJECON2021-908769","url":null,"abstract":"The tax revenues, which constitute the most important income item of the state, provide the necessary financing for sustainable economic growth in evolved countries, development efforts in developing economies, and form the basis of social welfare. Therefore, the relationship between economic growth and tax revenues is significant and numerous empirical studies have been carried out on this subject. However, there is no study testing the hidden cointegration. This paper aims to test the presence of hidden cointegration between economic growth and tax revenues and intends to develop further typologies. To test the relationship, data on the ratio of annual tax revenues/ GDP between 1985-2018 in Turkey was used, and Hidden Cointegration Approach developed by Granger and Yoon (2002) and crouching error correction model were applied. The analysis results demonstrated that the tax revenues decreased across variables and that there was a cointegration relationship in periods when the GDP increased. This manuscript is a contribution to the literature since a different technique was performed to examine the relationship between growth and tax revenues, and the results obtained will be crucial for decision-makers.","PeriodicalId":33072,"journal":{"name":"Istanbul Iktisat Dergisi","volume":"1 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2021-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69059329","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Kapitalist Gelişim İçinde Samsun Köylüsü: Bir Alan Araştırmasının Gösterdikleri","authors":"Ezgi Turmuş Binici","doi":"10.26650/istjecon2021-929145","DOIUrl":"https://doi.org/10.26650/istjecon2021-929145","url":null,"abstract":"","PeriodicalId":33072,"journal":{"name":"Istanbul Iktisat Dergisi","volume":"1 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2021-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69059422","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Öğrencilerin Girişimcilik Eğilimi Üzerinde Aile Etkisinin Çok Yönlü Frekans Tabloları Analiziyle Belirlenmesi","authors":"Sema Ulutürk Akman","doi":"10.26650/istjecon2021-915975","DOIUrl":"https://doi.org/10.26650/istjecon2021-915975","url":null,"abstract":"","PeriodicalId":33072,"journal":{"name":"Istanbul Iktisat Dergisi","volume":" ","pages":""},"PeriodicalIF":0.3,"publicationDate":"2021-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49146583","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Introducing the Moniac: Its Historical Process in the Istanbul University Faculty of Economics","authors":"H. Bektaş","doi":"10.26650/ISTJECON2021-944190","DOIUrl":"https://doi.org/10.26650/ISTJECON2021-944190","url":null,"abstract":"Monetary National Income Analog Computer (MONIAC) is a hydraulic machine that we can describe as an analog simulator modeling macroeconomic relationships. It was invented by the famous economist A. W. Phillips in 1949 and produced in limited numbers. The circulation of water in the machine shows the circulation of money in the economy. The economic behaviors of units such as households, firms, government, export, and import segments, and the economic variables by which these behaviors are affected can be observed while the water circulates the machine. The working principle of this machine reflects the assumptions of both Keynesian and Classical economics schools regarding economic functioning. The machine was brought to Istanbul University Faculty of Economics in the 1950s, by Prof. Dr. Besim Ustunel, one of the late faculty members. A sensational scientific production for the international academic community at that time, thus, was brought to Turkey in a very short period of time. The fact that the machine was introduced to Turkish higher education shortly after its invention is an important indicator of the ability of the Faculty of Economics to adapt to current scientific developments. Although MONIAC has been reoperational with a project initiated by the Faculty of Economics in 2017, it is not possible to use the machine actively in lessons today, which used to be one of its primary functions. However, based on this analog machine, the digital simulation that we carry out within the scope of the project can be used as an educational tool. MONIAC, in its restored original form, has been preserved by the Faculty of Economics as a historical value of the Faculty.","PeriodicalId":33072,"journal":{"name":"Istanbul Iktisat Dergisi","volume":"1 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2021-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48433722","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Türkiye Ekonomisine Kaldoryan Bakış (1980-2020)","authors":"Gülbahar Atasever","doi":"10.26650/ISTJECON2021-886478","DOIUrl":"https://doi.org/10.26650/ISTJECON2021-886478","url":null,"abstract":"The most basic economic indicators used in international comparisons are inflation rate, unemployment rate, economic growth rate, and current account balance. In this context, when these variables are taken together within the framework of an index, they offer a practical perspective on a single country basis or in international comparisons. In this study, variables were analyzed using the TOPSIS method. During the 1980–2020 period, the narrow context of the aforementioned variables for the core, extended core, Keynesian, and heterodox Boratav year indices were calculated to make comparisons on the basis of time periods in the Turkish economy. The results obtained indicate that breakdowns in the indices by year are very similar; however, the indices differ considerably in interpreting periodic macroeconomic performance. Regarding the designated best period in terms of macroeconomic performance, while1980–1989 was the period in extended core and Keynesian indices, it was 1990–1999 according to the Boratav heterodox index, 2010–2020 according to the narrow core index, and 2000–2009 according to TOPSIS method. This result demonstrates that the Kaldorian perspective is insufficient for efficiency comparisons between periods, as factors such as human capital, productivity, institutions, and populations are excluded from the analysis.","PeriodicalId":33072,"journal":{"name":"Istanbul Iktisat Dergisi","volume":" ","pages":""},"PeriodicalIF":0.3,"publicationDate":"2021-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49488111","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Avrupa Birliği’nin Enerji Güvenliği: Enerji İthalatı Bağımlılığı ve Ekonomik Büyüme İlişkisi","authors":"Serap Elüstü","doi":"10.26650/ISTJECON2021-942116","DOIUrl":"https://doi.org/10.26650/ISTJECON2021-942116","url":null,"abstract":"Enerji piyasasinin cografi kosullar nedeniyle oligopolistik bir yapiya sahip olmasi, bazi ulkeler icin enerji urunlerinin ithal edilmesini zorunlu kilmaktadir. Ozellikle Avrupa Birligi, politik acidan riskleri olan Rusya ve MENA (Orta Dogu ve Kuzey Afrika) bolgesi ile bagimliliga ulasan onemli enerji iliskilerine sahiptir. Enerji guvenligini aksatan bu durum, AB icin ekonomik acidan risk olusturmaktadir. Calismada AB’ye uye ve aday ulkelerin 2014-2018 donemi petrol ve petrol urunleri, dogal gaz, kati yakit ithalati ve enerji ithalati bagimliliginin ekonomik buyume ile iliskisi panel veri analizi ile arastirilmaktadir. Modele yonelik temel varsayim testlerinin sonucunda Driscoll-Kraay tahmin modelinin kullanilmasi uygun bulunmustur. Bulgular, AB ulkelerinin petrol ve petrol urunleri ithalatinin ekonomik buyumeleri uzerindeki etkisinin istatistiksel olarak anlamli ve pozitif; enerji ithalati bagimliliginin ise ekonomik buyumeleri uzerinde istatistiksel olarak anlamli ve negatif yonlu oldugu seklindedir. Dogal gaz ve kati yakit ithalatinin ekonomik buyume uzerindeki etkisi ise istatistiksel olarak anlamsiz bulunmustur. Petrol ve petrol urunleri ithalatinin ekonomik buyume ile ayni yonde hareket etmesi, Avrupa Birligi’nde GSYIH’nin buyuk kisminin hizmetler sektorune bagli olmasi, hizmetler sektorunun en buyuk parcasini ise petrol ve petrol urunlerinin yogun olarak kullanildigi ulastirma sektorunun olusturmasi ile aciklanabilir. Enerji ithalati bagimliligi ise beklendigi uzere ekonomik buyumeyi olumsuz yonde etkilemektedir. Calisma sonucuna gore AB’de yenilenebilir enerji kullanimi, enerji verimliliginin artirilmasi gibi enerji ithalati bagimliligini azaltici politikalarin reel GSYIH’yi artirici etki yaratmasi beklenmektedir. Enerjinin ithal edildigi kaynaklarin cesitlendirilmesinin de, ihracatcidan kaynaklanan tedarik risklerini aza indirmesi ve boylece enerji guvenligini olumlu etkilemesi ongorulmektedir.","PeriodicalId":33072,"journal":{"name":"Istanbul Iktisat Dergisi","volume":"1 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2021-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69059644","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Covid-19 Pandemisinin Türkiye’de Bankacılık Sektörü İstihdamı Üzerine Etkileri","authors":"Kadir Tuna","doi":"10.26650/ISTJECON2021-933821","DOIUrl":"https://doi.org/10.26650/ISTJECON2021-933821","url":null,"abstract":"Covid-19 krizinde en buyuk degisim ve donusumun istihdam piyasasinda olmasi beklenmektedir. Bircok sektorde faaliyet gosteren isletme salgin doneminde esnek, uzaktan ve hibrit calisma modellerini kalici hale getirmeyi planlamaktadir. Boyle bir degisimin dunya ekonomisini buyuk bir issizlik dalgasi ile karsi karsiya birakacagi beklenmektedir. Bu surecten en fazla etkilenecek sektorlerin basinda bankacilik gelmektedir. Bankacilik, salgin doneminde esnek ve uzaktan calisma modellerini en fazla uygulayan sektorlerin basinda gelmektedir. Bankacilik sektorunun en buyuk avantaji, sube disi alternatif dagitim kanallari olarak tanimlanan ATM, cagri merkezi, internet ve mobil bankacilik hizmetlerine sahip olmasidir. Salgin doneminde sube disi kanallarin yogun kullanimi, sektorun istihdam yapisini donusume zorlamaktadir. Ulkemizde halihazirda bankacilik sektoru teknolojiye ve insan kaynagina en fazla yatirim yapan sektorlerin basinda gelmektedir. Bankacilik sektoru salgin doneminde alternatif dagitim kanallarini kullanarak, musterilerin subeye gitme ihtiyaci kalmadan taleplerini karsiladi. Bu calisma, pandemi doneminde Turkiye’de bankalarda sube disi alternatif kanallarinin kullanim yogunlugunun sektorun istihdam yapisini nasil etkiledigi analiz edilmistir.","PeriodicalId":33072,"journal":{"name":"Istanbul Iktisat Dergisi","volume":"1 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2021-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69059038","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Kripto Paralarda Miktar Teorisi Uygulaması: Bitcoin Örneği ve Covid-19 Salgının Etkisi","authors":"E. Daşdemir","doi":"10.26650/ISTJECON2021-879423","DOIUrl":"https://doi.org/10.26650/ISTJECON2021-879423","url":null,"abstract":"This study tests the validity of the quantity theory for cryptocurrencies. They have been on the agenda of financial markets in recent years, and they are perceived as a new type of money. Considering the historical development of money, the emergence of cryptocurrencies is similar to the evolution of traditional currency. Therefore, great deficiency exists in the in the existing literature because money rules are not tested for cryptocurrencies, which have been referred to as the money of the future. Within the scope of this study, releases and the use of cryptocurrencies were comparatively discussed with other types of money, and Fisher’s quantity theory model was tested for crypto coins. Using the market value and amount of Bitcoin, the time series analysis is performed with monthly frequency data covering a period from August 2010 to April 2021. As a result of the analysis, it is understood that a linear relationship prevails between the amount and value of Bitcoin. The main reason for this situation can be explained by cryptocurrency mining activities that use the blockchain method. the econometric analysis shows that the Covid-19 outbreak has strengthened the positive relationship between Bitcoin amount and market value. To understand the results of the analysis and fill the gap in the literature, issues such as money supply, emission and seigniorage income for cryptocurrencies are discussed and the operating processes for each are explained. This study contributes to the literature by showing that the Fisher Quantity Theory is not valid for cryptocurrencies.","PeriodicalId":33072,"journal":{"name":"Istanbul Iktisat Dergisi","volume":"1 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2021-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69059267","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}