Browsing by Subject "Economic activity"

Now showing 1 - 4 of 4

Open Access
Capital maintenance as a key development tool
(Wiley-Blackwell Publishing Ltd., 2010) Boucekkine, R.; Martinez, B.; Saglam, C.
We construct optimal growth models where labor resources can be allocated either to production, technology adoption or capital maintenance. We first characterize the balanced growth paths of a benchmark model without maintenance. Then we introduce maintenance activity via the depreciation rate of capital. We characterize the optimal allocation of labor across the three activities. Although maintenance deepens the technological gap by diverting labor resources from adoption, we show that it generally increases the long run output level. Moreover, we find that equilibrium maintenance and adoption efforts respond in opposite directions to policy or technology shocks. Finally, we find that the long-term output response to policy shocks is slightly higher in the presence of maintenance. © 2010 The Authors. Scottish Journal of Political Economy © 2010 Scottish Economic Society.
Open Access
Exchange rate volatility and exports: a firm-level analysis
(Routledge, 2008) Solakoglu, M. N.; Solakoglu, E. G.; Demirag, T.
The relationship between real exports and exchange rate volatility is investigated using panel data analysis at the firm level. Results indicate that there is no negative or positive relationship between volatility and real exports. In addition, firm size and level of international activity do not influence the size and significance of the volatility effect on exports. However, there is some evidence that firms use import revenue to lower their exchange rate exposure.
Open Access
Liquidity and price volatility of cross-listed French stocks
(2005) Bayar, A.; Önder, Z.
The changes in the volatility and liquidity of French stocks are examined before and after their cross-listing on the German electronic market, the Xetra. The results are mixed in terms of the change in liquidity and volatility of stocks after cross-listing. It is found that for many stocks volatility of stock prices increases and liquidity declines after cross-listing. Furthermore, similar results are obtained when market volatility in the Paris Bourse is controlled for. These results suggest the migration of orders to the Xetra and the deterioration of the quality of the Paris Bourse with the cross listing of French stocks on the German market, especially for those stocks that are continuously traded on the Xetra. These results seem to be against the integration of the French and German markets during the period analysed in this study. Furthermore, the findings indicate that the trading scheme and the characteristics of the stock should be considered in examining the cross-listing effects.
Open Access
The shopping mall as an emergent public space in Turkey
(SAGE, 2003) Erkip, F.
The shopping mall as a part of the recent transformations in Turkish urban lifestyle is the focus of this research. Characteristics of the Turkish way of using shopping malls, and their social and spatial consequences, are investigated and analyzed through a case study in Ankara, the capital of Turkey. The field survey was carried out in Bilkent Shopping Center, a newly built shopping mall in a suburban area which was also established recently as a high-income housing settlement. This shopping mall is an appropriate example of spatial transformations under the influence of global forces, which may also give clues about changes in urban lifestyle. A field survey was carried out through user surveys, and various observations are used to enrich the analysis. The results indicate that the shopping mall as a postmodern site matched the changing shopping and consumption requirements of Turkish urban citizens. The development of the shopping mall turns out to be timely for the Turkish urban citizen searching for modernity through new identity components in consumption patterns. Some benefit from this development more than others, for example, working women, indicating the process of feminization of the flaneur. However, these sites simultaneously produce a new arena of negotiation and conflict as well, creating new forms of exclusion-particularly for the urban poor. Although malls appear more public and democratic than the streets for the time being, the potential for segregation is implicit in their private character.