Browsing by Subject "Transition"

Now showing 1 - 5 of 5

Open Access
Central bank independence and economic performance in eastern Europe
(Elsevier BV, 2001) Neyapti, B.
Following the breakdown of central planning by the early 1990s, transition economies faced varying measures of the need for economic restructuring and stabilisation. This paper examines both the trends in economic performance in eight eastern European countries and the degree of central bank independence (CBI) granted after reforms. The evidence of the paper indicates that both the measures of CBI and the measures of financial market development (FMD) show significant association with macroeconomic variables. Also, the sample exhibits positive association between CBI and measures of FMD. © 2001 Elsevier Science B.V. All rights reserved.
Open Access
The effects of transition and political instability on foreign direct investment inflows: Central Europe and the Balkans
(Wiley-Blackwell Publishing Ltd., 2006) Brada, J. C.; Kutan, A. M.; Yigit, T. M.
This paper examines the effects of transition and of political instability on foreign direct investment (FDI) flows to the transition economies of Central Europe, the Baltics and the Balkans. We find that FDI flows to transition economies unaffected by conflict and political instability exceed those that would be expected for comparable West European countries. Success with stabilization and reform increased the volume of FDI inflows. In the case of Balkan counties, conflict and instability reduced FDI inflows below what one would expect for comparable West European countries, and reform and stabilization failures further reduced FDI to the region. Thus, we find that the economic costs of instability in the Balkans in terms of foregone FDI have been quite high. © 2006 The Authors Journal compilation © 2006 The European Bank for Reconstruction and Development.
Open Access
Fiscal convergence in the European Union
(Elsevier BV, 2008) Kocenda, E.; Kutan, A. M.; Yigit, T. M.
We empirically examine the fiscal convergence of the recent ten European Union (EU) members using the Maastricht fiscal convergence criteria. We test for absolute beta and sigma convergence of the new members in comparison to the Maastricht benchmarks, as well as the EU15 figures, using methodologies that allow for structural breaks. The results show poor fiscal performance in the European Union in general, suggesting that monetary unions do not necessarily encourage fiscal convergence for its members. © 2008 Elsevier Inc. All rights reserved.
Open Access
Highly conducting lyotropic liquid crystalline mesophases of pluronics (P65, P85, P103, and P123) and hydrated lithium salts (LiCl and LiNO3)
(American Chemical Society, 2014) Barım, G.; Albayrak, C.; Yilmaz, E.; Dag, Ö.
Demand for ionically conducting materials, as membranes and electrodes, is one of the driving forces of current research in chemistry, physics, and engineering. The lithium ion is a key element of these materials, and its assembly into nanostructures and mesophases is important for the membrane and electrode technologies. In this investigation, we show that hydrated lithium salts (such as LiCl·xH2O and LiNO3· xH2O, x is as low as 1.5 and 3.0, respectively) and pluronics (triblock copolymer such as PX where X is 65, 85, 103, and 123) form lyotropic liquid crystalline mesophases (LLCM), denoted as LiY·xH2O-PX-n (Y is Cl− or NO3 −, and n is the salt/PX mole ratio). The structure of the mesophase is hexagonal over a broad salt concentration and transforms to a cubic mesophase and then to disordered gel phase with an increasing salt content of the mixtures. The mesophases are unstable at low salt contents and undergo a phase separation into pure pluronics and salt-rich LLCMs. The salt content of the ordered mesophase can be as high as 30 mole ratio for each pluronic, which is a record high for any known salted phases. The mesophases also display high ac ionic conductivities, reaching up to 21 mS/cm at room temperature (RT), and are sensitive to the water content. These mesophases can be useful as ion-conducting membranes and can be used as media for the synthesis of lithium-containing nanoporous materials.
Open Access
Pilgrims to the Eurozone: how far, how fast?
(Elsevier BV, 2006) Kocenda, E.; Kutan, A. M.; Yigit, T. M.
In our analysis, we re-examine the nominal and real convergence of all recent 10 European Union (EU) members to EU standards. Testing for monetary convergence has significant implications for interim optimal exchange rate and monetary policies before a formal and permanent link to the euro, while real convergence is the ultimate objective of economic integration. Novel features of the paper include broader measures of real convergence in both euro as well as local currencies, an examination of inflation and interest rate convergence with respect to the Maastricht benchmarks, and employment of more appropriate tests of convergence allowing for structural breaks. The results indicate slow but steady per-capita real income convergence towards EU standards. On the other hand, evidence indicates significant strong inflation and interest rate convergence. Policy implications of the paper are also discussed. © 2006 Elsevier B.V. All rights reserved.