İktisat Bölümü Yayın Koleksiyonu

Permanent URI for this collectionhttps://hdl.handle.net/20.500.12416/402

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Analysis of distinct asymmetries in financial integration‐growth nexus for industrial, emerging and developing countries
(2020) Yolcu Karadam, Duygu; Öcal, Nadir
This paper examines the threshold conditions in financial integration and growth relationship for a large set of threshold variables and different income group of countries employing Panel Smooth Transition Regression Models. Except developing countries, our findings strongly indicate nonlinear dynamics and imply that the impact of financial integration on growth is asymmetric depending on a number of indicators such as countries' degree of institutional quality, financial sector development, trade openness, budget deficit, inflation volatility and the level of financial integration. Our results show that these threshold effects substantially differ for emerging and industrial countries. As far as whole set of countries is concerned, our findings imply that countries having developed financial systems, qualified institutions and stable macroeconomic environment benefit from financial integration. Moreover, threshold effects are stronger and different for emerging countries compared to the industrial countries. Unlike emerging economies, higher levels of financial integration and trade openness decrease benefits from financial openness for the industrial countries. Besides, high fiscal deficit has more pronounced negative effect on the growth of the industrialized countries compared to emerging economies and other indicators.
Citation - WoS: 4
Citation - Scopus: 5
Analysis of Distinct Asymmetries in Financialintegration-Growthnexus for Industrial, Emerging and Developing Countries
(Wiley, 2022) Ocal, Nadir; Yolcu Karadam, Duygu
This paper examines the threshold conditions in financial integration and growth relationship for a large set of threshold variables and different income group of countries employing Panel Smooth Transition Regression Models. Except developing countries, our findings strongly indicate nonlinear dynamics and imply that the impact of financial integration on growth is asymmetric depending on a number of indicators such as countries' degree of institutional quality, financial sector development, trade openness, budget deficit, inflation volatility and the level of financial integration. Our results show that these threshold effects substantially differ for emerging and industrial countries. As far as whole set of countries is concerned, our findings imply that countries having developed financial systems, qualified institutions and stable macroeconomic environment benefit from financial integration. Moreover, threshold effects are stronger and different for emerging countries compared to the industrial countries. Unlike emerging economies, higher levels of financial integration and trade openness decrease benefits from financial openness for the industrial countries. Besides, high fiscal deficit has more pronounced negative effect on the growth of the industrialized countries compared to emerging economies and other indicators.
Citation - WoS: 8
Citation - Scopus: 6
Distinct Asymmetric Effects of Military Spending on Economic Growth for Different Income Groups of Countries
(Taylor & Francis Ltd, 2023) Ocal, Nadir; Yildirim, Julide; Karadam, Duygu Yolcu
Although possible asymmetries for univariate and multivariate dynamics have been the focus of interest in many areas of economic explorations, it seems that most of the research on military expenditure - economic growth nexus has tended to assume linear relationships. This paper aims to examine possible nonlinearities in military expenditure-economic growth nexus employing data for a sample of 103 countries covering the 1988-2019 period. For this purpose, Panel Smooth Transition Regression, PSTR, models are estimated not only for all countries' sample but also for low income, middle income, and high-income countries' subsamples to reveal possible distinct asymmetric relationships for country groups with different income levels. Empirical results for the whole sample, low income and middle income groups indicate that military expenditure not only governs the regime change, but also low and high levels of military expenditure have distinctive and rising negative effects on economic growth with dissimilar threshold effects. Moreover, empirical findings also indicate that net arms exports govern regime change for high income countries, and as net arms exports rise, the negative impacts of military expenditure on economic growth become deeper.
Does workplace envy always have detrimental consequences in organizations? A study of public and private sector employees
(2020) Şener, İrge; Karabay, Melisa; Elçi, Meral; Erman, Halil
Purpose Based on the situational approach for envy, the purpose of this paper is to examine the effect of two-dimensional workplace envy (being envied and envying others) on the task and contextual performance of employees working in either private or public sector organizations. Design/methodology/approach This study was conducted on survey data collected from 988 private sector employees and 530 employees from the public sector employed in Istanbul. Following a quantitative empirical design, structural equation modeling was used to test the hypotheses. Findings The study results revealed that envying-others dimension has a significant negative effect on both task performance and contextual performance. In addition, the findings indicate more envious feelings of private sector employees than public sector employees. For public sector employees, male participants were found to envy others more than females. Research limitations/implications In addition to the contributions, this study has its limitations. First, although the study was carried out with a comprehensive sample, it is limited to the views of 1,518 employees in Istanbul and is a cross-sectional study. Also, employee performance is evaluated through self-reporting, which forms another limitation; it could have been more reliable for the supervisors to assess their subordinates' performance. Practical implications Apart from scholars, our findings have implications for practitioners. Feelings such as envy that comes with a sense of competition can create an environment that stimulates people, motivates them to work, can make them productive and can also cause an ultimately destructive situation. This makes it critical to manage envy in the workplace. Though there may be facilitators behind it, one crucial factor that fuels envy in the workplace is the lack of fair human resources policies and systems. Still, human resources management is undeveloped in most public organizations. With effective human resources management, there may be some roadmaps for managers to dissolve conflicts arising from envy. First, it is imperative to have systems that will separate the employee from the others, which everyone will accept, strengthening the feelings of justice among employees. Envy often occurs following a social comparison. Management can implement an incentive system that supports employee collaboration and avoid nepotism. Especially in private organizations where the competition is more among employees, managers should give more attention to understand their subordinates' feelings. The managers' attention to expressing their feelings toward their subordinates could establish an equal distance within the workplace. In this sense, language selection is critical, and managers should be mindful of linguistic triggers. Managers should not avoid giving both positive and negative feedback to their employees. Unwarranted and unsystematic reward and/or punishment systems, made with the good intentions of increasing competition, can trigger envy. Finally, managers should implement an open-door policy and open communication that will encourage all team members to be transparent to each other. Originality/value The study was based on a rationale that envy has detrimental workplace outcomes that lead to low task and contextual performance. Although there exists a recent interest for examining the relation between workplace envy and employee performance, based on being envied and envying others dimensions, these studies are limited. This study focuses on these dimensions and performance relations, and it also provides a comparative outlook for public and private sector employees in Turkey in terms of workplace envy.
Citation - WoS: 12
Citation - Scopus: 16
Labor Mobility Across the Formal/Informal Divide in Turkey Evidence From Individual-Level Data
(Emerald Group Publishing Ltd, 2017) Acar, Elif Oznur; Tansel, Aysit
Purpose - This paper, the first one to use individual-level Turkish panel data, examines the labor market transitions in Turkey along the formal/informal employment divide. The purpose of this paper is to contribute to the limited body of empirical evidence available on mobility and informality in the Turkish labor market. Design/methodology/approach - Toward this end, the authors use Turkish income and Living Conditions Survey panel data for 2006, 2007, 2008 and 2009 to compute the Markov transition probabilities of individuals moving across six different labor market states: formal-salaried (FS), informal-salaried, formal self-employed, informal self-employed, unemployed and inactive. In order to examine the nature of mobility patterns in more detail, the authors then estimate six multinomial logit models individually for each transition adopting a number of individual and employment characteristics as explanatory variables. Findings - The authors find evidence that mobility patterns are fairly similar across different time spans, the probability of remaining in initial state is higher than the probability of transition into another state for all the labor market states, except for unemployment, there is only very limited mobility into the FS state. Gender, education and sector of economic activity are observed to display significant effects on mobility patterns. The results reveal several relationships between the covariates and likelihood of variant transitions. Research limitations/implications - This study provides a comprehensive and detailed diagnosis of the Turkish labor market. The market is observed to display a rather static structure throughout the period considered. The results indicate that a well recognition of underlying dynamics may help policy makers to produce various effective tools for addressing informality. Originality/value - First study to analyze labor market mobility across formal/informal sectors using newly available panel data.
Citation - WoS: 2
Citation - Scopus: 2
On the Heterogeneous Effects of Tax Policy on Labor Market Outcomes
(Wiley, 2022) Adnan, Wifag; Arin, Kerim Peren; Corakci, Aysegul; Spagnolo, Nicola
Many recent studies have documented the heterogeneous effects of government-spending shocks on major macroeconomic variables, particularly on output. We delve deeper into the heterogeneous effects of fiscal policy innovations, but focus on the tax policy innovations and their impact on the labor market, while accounting for gender, race, ethnicity, and the business cycle. Using microlevel data from the United States, we find that: (i) Tax shocks have varying employment effects depending on gender, race, and the stage of the business cycle; (ii) Sector, industry, and occupational segregation in labor markets by gender, race, and ethnicity can explain most of the variation in response to fiscal policy shocks.
Citation - Scopus: 1
Real Exchange Rates and Job Flows: Evidence From Turkey
(Routledge Journals, Taylor & Francis Ltd, 2018) Islam, M. Qamarul; Yazici, Mehmet; Dogan, Ergun
This study investigates the effects of the real exchange rate on job flows in Turkish manufacturing industries between 2006 and 2015 using data at the four-digit NACE Revision 2 level. Using dynamic panel data models, we find that a real appreciation increases gross and net job creation rates, and that the effect of appreciation is magnified as the exposure to international competitiveness of industries increases. We think that this is because Turkish manufacturing firms import a greater share of their inputs compared to the firms in developed countries. Hence, an appreciation creates more jobs because lower imported input costs enable firms to outcompete foreign producers.
Citation - WoS: 4
Citation - Scopus: 9
Turnover, Ownership and Productivity in Malaysian Manufacturing
(Routledge Journals, Taylor & Francis Ltd, 2013) Dogan, Ergun; Wong, Koi Nyen; Yap, Michael M. C.
Applying Foster, Haltiwanger, and Krizan's decomposition of productivity growth method to Malaysian manufacturing census data for 2000 and 2005, we analyze if firm turnover by ownership (domestic vs. foreign) has any impact on the sector's aggregate productivity growth. The findings show that turnover matters regardless of ownership, but more importantly, attracting foreign direct investment inflows could induce positive net entry effect'. The analysis shows that large-sized foreign and domestic entrants are more productive than medium-sized and especially small-sized ones. The study provides important implications for government policies based on ownership and firm size.

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