Browsing by Subject "National economy"

Now showing 1 - 6 of 6

Open Access
The effect of foreign income on economic performance of a small-open economy: evidence from Turkey
(Routledge, 2004) Berument, Hakan; Kilinc, Z.
The effect of a shock in the foreign economic performance on the domestic economy is an attractive research area. It has consistently been found that this effect is non-negligible. However, the countries examined are mostly developed countries. In this study, the effects of a shock in foreign economy on the economic performance of Turkey are examined. The estimates suggest that a positive shock in the foreign economy positively affects Turkish output, increases the inflation rate, and appreciates the real exchange rate. © 2004 Taylor and Francis Ltd.
Open Access
The effects of exchange rate risk on economic performance: the Turkish experience
(Routledge, 2004) Berument, Hakan; Dincer, N. N.
This study examines the effects of real exchange rate risk on the economic performance for an emerging, small open economy: Turkey. When the ratios of the total foreign exchange liabilities of the Central Bank of the Republic of Turkey (CBRT) to: (1) total reserves; (2) the CBRT's reserves; and (3) the CBRT's total Turkish lira liabilities are taken proxy of exchange rate risk, the empirical evidence suggests that the increase in exchange rate risk causes a depreciation in the real exchange rate, an increase in prices and a decrease in output. © 2004 Taylor and Francis Ltd.
Open Access
Macroeconometric modelling and Pakistan's economy. A vector autoregression approach
(1992) Chishti, S. U.; Hasan, M. A.; Mahmud, S. F.
Recent applications of the Vector Autoregression (VAR) technique pioneered by Sims, Litterman and Doan has become popular in macroeconomic modelling, particularly when knowledge about 'true' structural relations is absent. This study represents the first attempt to apply such a technique to Pakistani data for ten key macroeconomic variables. Unlike some of the earlier studies on Pakistan's economy our empirical results are intuitive and consistent with the predictions of the standard new neoclassical model. More importantly, based on these results, perhaps, one may also shed light on some of the dominant recurring macroeconomic issues of Pakistan's economy. © 1992.
Open Access
On structural sources of the 1994 Turkish crisis: a CGE modelling analysis
(Routledge, 1998) Yeldan, A. E.
This paper investigates the impact of the Turkish public sector imbalances on the evolution of the economic crisis during 1990-93. A computable general equilibrium model is used. The theoretical basis of the model rests upon the strucutralist/Keynesian macro foundations. Its distinguishing features entail accommodation of oligopolistic market-up pricing rules in the industrial sectors, and endogenous solution of capacity utilisation and unemployment levels through Keynesian mechanisms of effective final demand. The results of the model underscore the importance of intra-class relations of income distribution and conflict in the evolution of price movements in the Turkish economy. It is further argued that the sources of the crisis lie in the administrative interventions of the state towards protection of the capitalist and rural incomes, which would otherwise be squeezed out in favour of wage-labour in the early 1990s.
Restricted
On the path to a Turkish national economy: the expulsion of Greeks from the Aegean villages
(Bilkent University, 2020) Sajjad, Roha; Abdeen, Abdullah; Bin Roslan, Muhammad Firdaus; Hanyyev, Suleyman; Ballyyev, Muhammet
This research paper is based on the events that took place in 1914 in the Aegean town named Phocaea where the Greek Orthodox subjects faced first a commercial boycott, then plundering and murder. This paper gives an idea about the 1914 incidents within its wider context. In this paper, we sought to describe the tragedy in detail and to explain the motives and reasons behind it with the help of contemporary sources. This study endeavored to understand the involvement of the Ottoman government and CUP ideologies such as the creation of a national economy, and its relation with the Balkan Wars. The 1914 tragedy was described in detail. The aftermath of all the events and the condition of the Ottoman Empire was explained later, including reactions of other countries.
Open Access
Optimal versus adequate level of international reserves: evidence for Turkey
(Routledge, 2005) Ozyildirim, S.; Yaman, B.
The determination of international reserve balance for emerging economies is part of the efforts to strengthen the immunity of these economies to crises. However, there is still evidence on crises even for the countries with large foreign reserves. It has usually been experienced that the countries with greatest need for reserves economize more than others on their holdings since they might underestimate the cost of crisis. In this study, the official international reserves of Turkey are tested against optimality and adequacy. During 1988-2002, the actual reserves fell short of both the optimal and the adequate levels. They are only optimal when the expected cumulative contraction is about 5.2% of real GDP under crisis. However, early evidence from emerging economies and Turkey show that crises hit more heavily. Hence, it is found that the current financial structure in Turkey such as the absence of capital controls and a highly dollarized banking system necessitates more foreign reserves for preventing any future economic and/or financial shocks.