Department of Economics

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Browsing Department of Economics by Author "Acar, S."

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    Energy and environmental policy against climate change in Turkey
    (Academic Press, 2018) Acar, S.; Voyvoda, E.; Yeldan, Alp Erinç
    Based on the structure of the economy in general but especially focusing on the duality patterns laid out in Chapter 2, this chapter first examines the recent energy and environment statistics in Turkey, and second, evaluates the existing (energy and environmental) policy framework and future potential of these policies in terms of their implications for climate change. We argue that the lack of mitigation at the aggregate national level finds its manifestation in the widening gap across regional GHG emissions as a consequence of the dual economic structure and the lack of differential policies across the regions.
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    Environmental impacts of coal subsidies in Turkey: a general equilibrium analysis
    (Elsevier, 2016) Acar, S.; Yeldan, Alp Erinç
    In this study we aim at providing an analytical framework for Turkey to study the macroeconomics and environmental impacts of the existing coal subsidization scheme. To this end we develop a regionally differentiated applied general equilibrium model spanning over 2015-2030. Our analytical apparatus focuses exclusively on the fiscal implications as well as the environmental repercussions of the removal of the subsidies on greenhouse gas emissions. With the aid of a set of alternative policy scenarios against a "business as usual" path, we study the regional and sectorial performances of growth, employment, investment and capital accumulation, consumption/welfare and trade balance. Our results indicate that by simple elimination of the coal subsidization scheme, Turkey can reduce its aggregate gaseous emissions by as much as 5% without a significant loss in its GDP.
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    Introduction
    (Academic Press, 2018) Acar, S.; Voyvoda, E.; Yeldan, Alp Erinç
    This chapter serves as an introduction to the main research questions, background, and objectives of the study. It describes the context (i.e., conceptualization of duality) and the modeling tools for decarbonized sustainable growth pathways as a way of pursuing a regionally-equitable development strategy.
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    Investigating patterns of carbon convergence in an uneven economy: the case of Turkey
    (Elsevier B.V., 2018) Acar, S.; Yeldan, A. Erinç
    Turkey is known to suffer from severe volatility in its growth patterns, as well as from the uneven sectoral growth and employment. Volatile rates of emissions across sectors are further manifestations of this uneven structure. The purpose of this study is two-fold: first, we check for dynamic patterns of convergence of carbon dioxide (CO2) emissions across sectors; and second, using evidence from panel data econometrics, we search for the determinants of these processes utilizing macroeconomic explanatory variables. We find that, based on various alternate criteria, CO2 emissions display conditional convergence mainly driven by the business cycle. Furthermore, across sectors, high technology activities display convergence over time; and yet, medium technology sectors that constitute the bulk of the aggregate value added display either poorly convergent or divergent trends. These results reveal that much of the emissions convergence is driven by the business cycle rather than the workings of discretionary mitigation policy.
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    Modeling for green growth: environmental policy in a dualistic peripheral economy
    (Academic Press, 2018) Acar, S.; Voyvoda, E.; Yeldan, Alp Erinç
    The chapter introduces the main components of the applied general equilibrium model to represent the dual structure of Turkey. It discusses the distinguishing features and its contribution to the modeling literature with its unique emphasis on duality, regionalization and social relevance. It further conceptualizes a Social Accounting Matrix for the Regionally Fragmented Dual Economy to accommodate Turkish macro-level data. Given the theoretical structure of the CGE model, the main data sources of the modeling paradigm are introduced and tabulated within the discipline of Walrasian general equilibrium. The unique contribution of the chapter is its accommodation of regional differentiation and of dualistic labor markets and preparation for the database in social accounting matrix format. This chapter purports to extend the traditional neoclassical (Walrasian) growth modeling based on one-sector depictions of the aggregate economy with a balanced growth path notion towards the steady state, and as such, we aim to contribute to the empirics of the traditional growth paradigm via questioning the long run equilibrium path way towards a balanced steady state.
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    Patterns of growth in dual economies: challenges of development in the 21st century
    (Academic Press, 2018) Acar, S.; Voyvoda, E.; Yeldan, Alp Erinç
    This chapter attempts to examine patterns of growth in dual economies within the context of challenges of development for the 21st century. To this end, we first study the broad contours of growth and adjustments in the global economy, before, during, and after the 2008–09 global crisis. Here four general patterns emerge, namely, stagnation of wage incomes; declining investment effort; consequent decline in the rates of growth of productivity; and a compensatory rise in corporate and household indebtedness. The chapter continues with a deeper investigation of the structural sources of deindustrialization and widening duality in both labor markets and technological diffusion. Finally, we link all these ideas with the macroeconomics of global climate change and implications on the feedback effects of the economy-resource use-environmental degradation nexus.
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    Policy analysis: toward a green development pathway for the peripheral world
    (Academic Press, 2018) Acar, S.; Voyvoda, E.; Yeldan, Alp Erinç
    This chapter uses the analytical model described in Chapter 4 to quantitatively investigate the set of viable macroeconomic policy instruments for combating climate change, and addresses a set of duality characteristics of the Turkish economy. The chapter initially characterizes the business-as-usual pathway over the first half of the 21st century (until 2040), and then studies a strategic policy scenario to attain multiple objectives of reduced informalization, more equitable regional social welfare, and environmental abatement. The results indicate that by pursuing a coherent macroeconomic strategy toward taxing fossil fuel use and earmarking fiscal revenues for expansion of the renewables sector strategically located within a regional development program, Turkey can mitigate gaseous emissions and expand its income and employment within a more equitable and sustained development pathway.