Browsing by Subject "Economic development--Turkey."

Now showing 1 - 3 of 3

Open Access
Finance growth nexus following the 2001 crisis in Turkey
(2012) Songül, Hüseyin
Diverse economic growth rates of countries have engaged the attention of economists. Recently, researchers have studied the role of financial development to explain the cross-country differences in growth. In particular, the direction of causality between financial sector development and economic growth has been analyzed in the context of two conflicting hypotheses. According to supply-leading hypothesis financial development leads to economic growth, however demandfollowing hypothesis claims that the direction of the relationship runs from economic growth to financial development. Beside these two competing hypotheses, bi-causality between economic growth and financial development has been argued in the literature as well. This paper examines the causal relationship between financial development and economic growth in Turkey for the period 2002:1-2011:2, using the technique of Granger causality. Our model reveals that there is a bidirectional long run relationship between the economic growth and banking sector development. On the other hand, the long run causality between the stock market development and economic growth is from stock market development to economic growth.
Open Access
The role of human capital in productivity spillovers from FDI : an empirical analysis on Turkish manufacturing firms
(2009) Köymen, Seda
This thesis studies whether the existence or magnitude of possible productivity spillover effects from FDI differs across domestic firms that possess different levels of human capital. The human capital as an absorptive capacity has been investigated in the macro literature by Borensztein et al. (1998) and Xu (2000). The aim of this analysis is to investigate their question at firm level. To test for this, a firm-level unbalanced panel data from Turkish manufacturing industry over the period 1990-2001 is used. First, firm-level total factor productivity (TFP) is calculated using the Levinsohn-Petrin methodology. Then, the evidence regarding the productivity spillovers from FDI is provided. The analysis is conducted using both level and growth of TFP as dependent variable. The results of this spillover analysis suggest that there are negative spillovers through forward linkages on the TFP level but not on the growth rate of TFP. On the other hand, only evidence of positive backward spillovers and negative horizontal spillovers are found for the growth of TFP. Finally, a deeper investigation of whether domestic firms with higher human capital benefit more from these spillovers is undertaken. In level regressions,results show that domestic firms benefit from FDI through backward linkages if they possess human capital under a certain level. In growth regressions, the domestic firms benefit from FDI through horizontal channel if they possess above a minimum threshold level of human capital.
Open Access
The role of natural resources in economic development: Turkey's boron experience
(2008) Okan, Menekşe
This master thesis aims to analyze the utilization of boron deposits in Turkey and to elaborate Turkey’s performance in deriving economic benefits from boron production. This research finds out that there is not a prescribed contribution of natural resources to economic development unless the resources are associated with comprehensive policies that are placing the investment in knowledge in the forefront. In this regard, this thesis asserts that, deriving significant contributions for its economy depends on Turkey’s ability in knowledge creation for high value added production rather than geological endowment.