Ekonomi ve Finans Çalışmaları
Economics and Finance Studies
Contributor(s): Serhat Alpağut (Editor)
Subject(s): Business Economy / Management, Energy and Environmental Studies, Economic policy, Environmental and Energy policy, International relations/trade, Social development, Economic development, Financial Markets, Accounting - Business Administration, ICT Information and Communications Technologies, Socio-Economic Research
Published by: Özgür Yayın Dağıtım Ltd. Şti.
Keywords: Economics; Finance Studies; globalization; financial systems; economic structures; energy market; trade; labor market;
Summary/Abstract: The financial systems and economic structures of the countries are going through an important development process, especially with increasing globalization. The rise in trade volume, the increase in the mobility of labor and capital, technological innovations, the increase in the quality of human capital, and the increasing social capital investments of people around the world have led to significant and positive developments in both finance and the economy. With the changes in the international conjuncture, the changing macro and micro conditions of the countries force the current economic ecosystem to change. On the other hand, epidemics, natural disasters, war, and terror environments have led to the development of decision mechanisms and policies, both individually and institutionally. The pioneering effects of the changes in consumption and investment first occur in the financial markets. Such important changes require careful examination in terms of their effects, especially in the period in which they occur. Academic studies investigate the effects and consequences of these changes, providing depth to the subjects and acquiring new perspectives. In addition, it contributes to the progress of financial and economic policies on a healthier ground in theory and practice by obtaining advisory inferences for decision-makers. The editorial book titled "Economy and Finance Studies", which we have prepared, deals with the issues that have been widely discussed in the economy, especially in recent years, with valuable academicians and authors. We would like to express our endless thanks to all the parties who contributed to the creation of the book and hope it will be useful for the readers.
- E-ISBN-13: 978-975-447-649-1
- Print-ISBN-13: 978-975-447-649-1
- Page Count: 212
- Publication Year: 2023
- Language: Turkish, English
Türkiye’de Genç İşsizliğin Bazı Makro Ekonomik Göstergelerle İlişkisi
Türkiye’de Genç İşsizliğin Bazı Makro Ekonomik Göstergelerle İlişkisi
(The Relationship of Youth Unemployment with Some Macro-Economic Indicators in Türkiye)
- Author(s):Serhat Alpağut
- Language:Turkish
- Subject(s):National Economy, Labor relations, Economic policy, Economic development, Socio-Economic Research
- Page Range:1-15
- No. of Pages:15
- Keywords:Unemployment; Macro-Economic Indicators; Young unemployment; economic growth; Turkey;
- Summary/Abstract:The rate of young unemployment in Turkey has been increasing in recent years. Young unemployment is an important component of economic growth. Therefore, the determination of macroeconomic factors affecting it is of great importance in determining economic policies to be applied to prevent unemployment and increase employment. For this reason, the study was analyzed by ARDL method for the 1991 and 2020 data period. The results are that the increases in national income in the short term decrease young unemployment. In the long term, it has been found that inflation and increases in national income reduce youth unemployment, and increases in the exchange rate increase youth unemployment. The results are consistent with the literature and theory. Although the effects of the exchange rate on general unemployment have been studied extensively in the literature, the relationship between youth unemployment and the exchange rate has been the subject of this study for the first time as far as it can be determined. In this context, it is aimed to ensure contribute to the literature. It is thought that this positive relationship between the exchange rate and youth unemployment should be taken into account in employment policies.
Türkiye’de Eğitim Durumlarına Göre Kadın ve Erkek İstihdamı Üzerine Bir Değerlendirme
Türkiye’de Eğitim Durumlarına Göre Kadın ve Erkek İstihdamı Üzerine Bir Değerlendirme
(An Evaluation on Female and Male Employment According to Educational Status in Turkey)
- Author(s):Turgay Toksoy
- Language:Turkish
- Subject(s):Gender Studies, Education, Labor relations, Economic policy, Socio-Economic Research, Sociology of Education
- Page Range:17-28
- No. of Pages:12
- Keywords:Turkey; employment; educational status; unemployment;
- Summary/Abstract:Employment and unemployment, which are in the interest of economics, are among the important macroeconomic indicators. Increasing employment or reducing unemployment is of great importance at the point of increasing economic and social welfare. In terms of countries, employment and unemployment are at the center of social policies. Global crises in recent years have caused policy makers to review their current policies in terms of human resources management. Especially in Turkey, despite the high growth figures achieved in recent years, there is a decrease in employment levels in the opposite direction. In this study conducted for Turkey, an evaluation was made for men and women by classifying the current workforce according to their educational status. Labor force statistics for the years 2014-2022 published by the Turkish Statistical Institute were used. Starting from illiterate individuals as education level, a classification was made towards higher education graduates. As a result of the evaluation, it was seen that the employment level increased as the number of educated individuals increased in Turkey. Higher education graduates take the highest share in employment, followed by high school graduates from vocational schools. At this point, the employment creation of vocational education schools is considered as a situation that should be taken into consideration and emphasized.
The Impact of Innovation, Foreign Direct Investments, Trade Openness, Economic Growth on Carbon Emissions in Türkiye
The Impact of Innovation, Foreign Direct Investments, Trade Openness, Economic Growth on Carbon Emissions in Türkiye
(The Impact of Innovation, Foreign Direct Investments, Trade Openness, Economic Growth on Carbon Emissions in Türkiye)
- Author(s):Ahmet Kadiroğlu
- Language:English
- Subject(s):National Economy, Energy and Environmental Studies, Economic history, Environmental and Energy policy, International relations/trade, Economic development, Transformation Period (1990 - 2010), Present Times (2010 - today)
- Page Range:29-42
- No. of Pages:14
- Keywords:trade; renewable energy; Turkey; energy economics;
- Summary/Abstract:The main purpose of this study is to examine the current energy economics literature in Türkiye by considering the role of innovations, foreign direct investments, economic growth and trade openness in the function of carbon emissions. In the study using 1994–2020 data, vector error correction model (VECM) and ARDL bounds test methods were used to examine the effects of innovation, trade openness, foreign direct investment, per capita GDP on CO2 emissions. Accordingly, it was concluded that trade openness and GDP per capita are among the variables affecting CO2 emissions in Türkiye. GDP per capita and trade openness affect carbon emissions positively in Türkiye. On the other hand, the relationship between FDI, innovation coefficient and CO2 emission coefficient is not significant at the 5% level. The sign of the coefficient of the predicted foreign direct investment and innovation variable is positive. In line with the findings, it primarily targets the energy consumption model, since economic growth is the primary driving force of the country's economy. Policy makers should turn to practices that encourage the use of renewable energy sources rather than the use of fossil fuels. While transitioning to renewable energy sources, R&D units in the country can be used for the development of renewable energy solutions.
Türkiye’nin Fındık İhracat Yapısı ve Yaşanan Gelişmeler
Türkiye’nin Fındık İhracat Yapısı ve Yaşanan Gelişmeler
(Hazelnut Export Structure and Developments of Türkiye)
- Author(s):Şeref Kabaoğlu, Mehmet Bozoğlu
- Language:Turkish
- Subject(s):National Economy, Agriculture, International relations/trade, Economic development
- Page Range:43-54
- No. of Pages:12
- Keywords:trade; hazelnut; Turkey; export;
- Summary/Abstract:Hazelnut is the second most widely cultivated nut in the world. Although it is mainly used in chocolate industry and pastry, it is also consumed as nuts. Türkiye produces approximately 2/3 of the world hazelnut production. After Türkiye, the other main producer countries are Italy, Azerbaijan, United States of America (USA), Chile and Georgia, respectively. Having 3/5 of the world's hazelnut export revenue, Türkiye is by far ahead in export as well as in production. Hazelnut exports constitute approximately one percent of Türkiye's total export income. This study aimed to examine the place of Türkiye in the world hazelnut foreign trade and the structure of and developments in Türkiye's hazelnut export. The main secondary data were obtained from the databases and websites of the official institutions. World hazelnut foreign trade and Türkiye's hazelnut export structure and the developments since 2012 were presented using tables, figures and ratios. Processed hazelnuts constitute 42% of Türkiye's total hazelnut exports. Türkiye's hazelnut export amount in 2022 constitutes 0,7% of its total exports, 5,1% of agricultural products exports and 8,1% of crop exports. Hazelnut has been produced for approximately twelve thousand years and it has been traded internationally for six centuries. World hazelnut production is approximately 1 million tons, of which 64,5% is produced by Türkiye. However, Türkiye's hazelnut yield is below the world average. The annual average hazelnut export in the period of 2012-2021 was 293 thousand tons and Türkiye met about 55,5%. Although Türkiye could increase hazelnut export in many countries over the years, it is dependent on the European Union countries and especially Germany, Italy and France in hazelnut export. In order to maintain its place in the world hazelnut market and increase its competitive power, Türkiye should take measures to increase efficiency and quality in hazelnut production immediately. The amount of value-added and branded products in hazelnut export should be increased. Dependency on European Union countries in hazelnut export should be reduced and studies should be carried out to find new markets.
Finans Dünyasında Teknolojik Gelişmeler ve Güncel Teknolojilerin Etkinliği
Finans Dünyasında Teknolojik Gelişmeler ve Güncel Teknolojilerin Etkinliği
(Technological Developments and Effectiveness of Current Technologies in the World of Finance)
- Author(s):Onur Öksüz, Fatih Demir
- Language:Turkish
- Subject(s):Economic development, Financial Markets, ICT Information and Communications Technologies
- Page Range:55-76
- No. of Pages:22
- Keywords:technology; financial markets; technological developments;
- Summary/Abstract:Today, technological developments have brought important innovations in financial markets as well as in many areas. The proliferation of devices such as smartphones, tablets and computers, the ease of access to the internet, and the continuation of breakthroughs in technology without slowing down have brought along a rapid digitalization in all transactions in financial markets. Especially the developments in the software world and the release of powerful processors have allowed the spread of cryptocurrencies and the development of blockchain technology. All these developments have led to a rapid increase in the number of Financial Technologies (FinTech). The first FinTech period lasted about 100 years and important developments were experienced in that period. The second FinTech period lasted about 40 years and compared to the first period, revolutionary financial technologies were offered to companies and users. The third FinTech period is a process that includes the process we are still in and has been going on for about 15 years. Compared to the first two periods, more innovative products and services were offered to users in the third period. Recently, virtual assets have started to replace physical assets, and virtual branches have begun to replace physical branches. The most popular of these is the replacement of country currencies by cryptocurrencies. In this study, technological developments affecting financial markets are explained and the effects of these developments on financial markets and their efficiency of use are evaluated.
The Financial Aspect of Digital Transformation for Businesses: The Road to Sustainable
The Financial Aspect of Digital Transformation for Businesses: The Road to Sustainable
(The Financial Aspect of Digital Transformation for Businesses: The Road to Sustainable)
- Author(s):Adem Özdemir
- Language:English
- Subject(s):Business Economy / Management, Economic development, ICT Information and Communications Technologies
- Page Range:77-89
- No. of Pages:13
- Keywords:Digital transformation; Businesses; sustainability;
- Summary/Abstract:Digital transformation is one of the most popular topics of recent days. Businesses want to gain competitive advantage by digitalizing their processes, increase their market share, increase their efficiency and productivity, and reduce their costs. However, it should not be forgotten that there is a serious cost to be incurred in order to implement digital transformation fully and efficiently. It is important how and where businesses will cover the cost of the investment, they will make to realize digital transformation. In order to implement a successful digital transformation, high quality technology products must be purchased at low costs. At this stage, the finance department of the enterprise should determine what to do and how to overcome this situation with a correct strategic planning. Afterwards, what should be done in order for the investment to be sustainable and to make the expected contribution to the business should be put on the agenda. In this study, the financial dimension of digital transformation is discussed and the relationship between sustainability and digital transformation is tried to be given as a review. As a result, it can be said that the success of digital transformation can be achieved through effective financial management and digital transformation makes a significant contribution to sustainability.
Kripto Para Piyasasında Şokların Kalıcılığı ve Finansal Balonlar
Kripto Para Piyasasında Şokların Kalıcılığı ve Finansal Balonlar
(Persistence of Shocks and Financial Bubbles in the Cryptocurrency Market)
- Author(s):Ahmet Tunç
- Language:Turkish
- Subject(s):Business Economy / Management, Financial Markets, ICT Information and Communications Technologies
- Page Range:91-103
- No. of Pages:13
- Keywords:cryptocurrencies; Cryptocurrency Market; cryptocurrency ecosystem;
- Summary/Abstract:Bitcoin, a decentralized digital currency based on cryptographic principles, has aroused great interest globally due to its rapid rise in recent years and certain qualities such as limited supply. Therefore, the foundations, economic consequences and social effects of blockchain technology have become one of the leading topics of academic research. This study aims to investigate the time series properties of Bitcoin (BTC) and Ethereum (ETH) prices and the bubble behaviors exhibited by these prices, using weekly data for the 2015-2023 period. For this purpose, a two-step estimation procedure was followed in the study. In the first stage, time series properties such as stationarity and structural break of the related series are examined. The findings reveal that BTC and ETH cryptocurrencies have been subject to multiple structural breaks during the period and the effects of shocks to the variables tend to be temporary. In the second step, the bubble behaviors of these digital assets were analyzed by using the GSADF test proposed by Phillips vd. (2013). The GSADF test results indicate two main bubble periods, as well as several short-lived bubble periods for BTC prices. The first of these main bubbles corresponds to the period from January 2017, when BTC price exceeded $ 1,000, to the period of January 2018, when it approached $ 20,000, and the second corresponds to the first half of 2021, when BTC price approached $ 60,000. The GSADF test also identified a short-term bubble period in the first week of December 2021, when BTC price reached its historical peak at $67,500. It can be said that the periods when ETH exhibited bubble behaviors largely coincided with BTC bubbles; however, it should be noted that these bubbles tend to be of shorter duration compared to BTC bubbles. As a result, policymakers need to reassess regulatory frameworks to manage the risks associated with price bubbles frequently seen in cryptocurrencies. These frameworks may include implementing measures to improve market transparency, investor protection, and risk management practices in the cryptocurrency ecosystem.
The Dynamics of Jump Intensity in Stock Prices: BIST 100 Example
The Dynamics of Jump Intensity in Stock Prices: BIST 100 Example
(The Dynamics of Jump Intensity in Stock Prices: BIST 100 Example)
- Author(s):Haluk Yener, Burak Alparslan Eroglu
- Language:English
- Subject(s):International relations/trade, Financial Markets
- Page Range:105-120
- No. of Pages:16
- Keywords:jump intensity; Stock Prices;
- Summary/Abstract:This paper is concerned with the estimation of the time-varying jump intensity of the Borsa Istanbul 100 (BIST 100) index. In the estimation phase, we utilize a new two-step method. In the first step, we employ wavelet filters to compute the number of jumps as a counting process. Next, we apply an integer-valued generalized autoregressive conditional heteroscedasticity model to examine the deterministic and stochastic components of the jump dynamics. Our results indicate not only deterministic diurnal patterns but also an autoregressive mechanism in BIST 100 jump dynamics.
Borsa İstanbul (Bist) Sektörlerinin PROMETHEE Yöntemiyle Finansal Performanslarının Analizi
Borsa İstanbul (Bist) Sektörlerinin PROMETHEE Yöntemiyle Finansal Performanslarının Analizi
(Financial Performance of Borsa Istanbul (BIST) Sectors with PROMETHEE Method Analysis)
- Author(s):Muhammed Fatih Yürük
- Language:Turkish
- Subject(s):Business Economy / Management, Financial Markets, Accounting - Business Administration
- Page Range:121-136
- No. of Pages:16
- Keywords:business; financial markets; Borsa Istanbul (BIST);
- Summary/Abstract:During business operations, people with decision-making responsibilities may face complex problems during some periods. These problems are choices among alternatives with multiple criteria. Multi-criteria decision-making techniques, especially in financial preferences, provide an important advantage to their interlocutors. These techniques enable financial decisions to be handled in a more systematic, objective and rational manner and also enable the comparison of risks and returns when analyzing different investment alternatives and help to determine the most appropriate option. Financial choices can often be multidimensional and complex. Multi-criteria decision-making techniques offer the opportunity to evaluate these different criteria separately and integrate them into the decision-making process. One of the multi-criteria decision-making techniques, which is so important in financial investment preferences, is used in this study. The financial performances of 13 sectors traded in Borsa Istanbul (BIST) were analyzed by the PROMETHEE method, one of the multi-criteria decision-making methods that can produce effective and efficient results. The 10 financial ratios most commonly used in the literature to measure financial performance were used in the study. As a result of the study, the "Mining and Quarrying" sector was the sector with the best financial performance. Then, the "Real Estate Activities", "Hotels and Restaurants" sectors have been the sectors with good financial performance respectively. Multi-criteria decision-making techniques are an effective, fast, reliable, scientific method that can be used in financial preferences and problems.
Is Gold Safe Haven for Turkish Stocks During the Russia-Ukraine War?
Is Gold Safe Haven for Turkish Stocks During the Russia-Ukraine War?
(Is Gold Safe Haven for Turkish Stocks During the Russia-Ukraine War?)
- Author(s):Yunus Karaömer
- Language:English
- Subject(s):National Economy, Economic history, Financial Markets, Russian Aggression against Ukraine
- Page Range:137-151
- No. of Pages:15
- Keywords:gold; Turkish stocks; Russia-Ukraine War;
- Summary/Abstract:This study aims to investigate the safe haven property of gold against Turkish stocks, namely, the BIST tourism, BIST construction, BIST food-beverage, and BIST chem petrol plastic during the Russia-Ukraine war. In the study, the dynamic conditional correlation-GARCH (DCC-GARCH) model is preferred to investigate the dynamic correlation between gold and Turkish stocks. To check the robustness of the DCC-GARCH empirical findings, the corrected dynamic conditional correlation-GARCH (cDCC-GARCH) model is applied to investigate the dynamic correlation between gold and Turkish stocks. Empirical results show that the correlations between the gold and BIST tourism, BIST construction, and BIST food-beverage returns are negative from February 24, 2022, to February 28, 2022. Gold could act as a safe haven during war periods for BIST tourism, BIST construction, and BIST food-beverage. The gold and BIST chem petrol plastic are positive from February 24, 2022, to February 28, 2022. For BIST chem petrol plastic, gold could not act as a safe haven during war periods. Besides, the empirical findings of the cDCC-GARCH support the empirical results of the DCC-GARCH. This study finds that gold exhibits safe haven properties during the Russia-Ukraine war.
Türkiye’nin Yenilenebilir Enerji Potansiyeli ve Kapasite Kullanım Oranının Değerlendirilmesi
Türkiye’nin Yenilenebilir Enerji Potansiyeli ve Kapasite Kullanım Oranının Değerlendirilmesi
(Evaluation of Turkey's Renewable Energy Potential and Capacity Utilization Rate)
- Author(s):Emre Akusta
- Language:Turkish
- Subject(s):National Economy, Energy and Environmental Studies, Environmental and Energy policy
- Page Range:153-169
- No. of Pages:17
- Keywords:Turkey; renewable energy resources; energy;
- Summary/Abstract:Turkey, despite being rich in renewable energy resources, is not able to utilize its existing potential sufficiently. As a result, Turkey cannot meet its high energy demand with domestic resources and remains dependent on energy imports. The increasing import of fossil fuel-based energy in particular exacerbates the challenges Turkey faces in sustainable energy use and environmental conservation. Furthermore, the fact that natural gas, imported coal, and lignite have the highest share in Turkey's electricity generation indicates the continued dependence on fossil energy sources. In this study, Turkey's renewable energy potential is compared with the current generated energy and a capacity utilization rate is calculated. According to the results of the study, Turkey's solar energy potential is 215 GW. However, Turkey's installed solar energy capacity is only 8 GW. The amount of electricity generated is 14 TWh. The capacity utilization rate is calculated to be 0.74%. Turkey's wind energy potential is stated as 182 GW, with an installed capacity of 11 GW. The amount of electricity generated is 31 TWh. The capacity utilization rate is calculated to be 1.97%. These rates indicate that only a small portion of the existing potential of solar and wind energies is being utilized. Turkey's hydropower energy potential is calculated as 53 GW, with an installed capacity of 31 GW. The amount of electricity generated from hydropower is 56 TWh. The capacity utilization rate is calculated to be 12.05%. This high-capacity utilization rate demonstrates that hydropower energy extensively benefits from its existing potential. Turkey's geothermal energy potential is calculated as 32 GW. However, the installed capacity is only 2 GW. The amount of electricity generated is 11 TWh, and the capacity utilization rate is calculated to be 3.91%. This rate indicates that the potential of geothermal energy is still being underutilized. Turkey's biomass energy potential is stated as 10 GW, with an installed capacity of 2 GW. The amount of electricity generated is 8 TWh. The capacity utilization rate is calculated to be 0.68%. Accordingly, the potential of biomass energy is also not being adequately utilized.
Koşullu Değişen Varyans Modeli ile Elektrik Tüketim Miktarının Tahmini
Koşullu Değişen Varyans Modeli ile Elektrik Tüketim Miktarının Tahmini
(Estimation of Electricity Consumption Amount with Autoregressive Conditional Heteroscedasticity Model)
- Author(s):Savaş Tarkun
- Language:Turkish
- Subject(s):Energy and Environmental Studies, Environmental and Energy policy, Social development, Economic development, Socio-Economic Research
- Page Range:171-194
- No. of Pages:24
- Keywords:Electricity; consumption; energy; Autoregressive Conditional Heteroscedasticity Model;
- Summary/Abstract:Electricity is a type of energy that plays an essential role in sustainable life and has a very high added value in various sectors. Electricity is one of the most critical actors in economic prosperity and growth, as it has strategic importance in socio-economic development. This type of energy, which cannot be stored due to its nature and must be consumed as soon as it is produced, has always been up to date in electricity demand forecasting studies since it is integrated with all aspects of economic development. At the same time, a single model does not always give accurate forecasts. In the study, the volatility of the electricity consumption amount for the period 2007:01 - 2020:12 was tried to be determined with the Autoregressive Conditional Heteroscedasticity Model. The ARCH effect determines the electricity demand variable during the study period. This result caused the error term to lose its constant variance feature due to the significant increase or decrease in the electricity demand series. Therefore, this result shows a symmetrical effect on electricity demand. In other words, the ARCH (1) model shows that positive and negative shocks are related to the squares of prior period shocks, and volatility is affected by this relationship similarly. The study model calculated the ARCH coefficient as (0.55). Due to seasonal effects, it has been concluded that the duration of the volatility will not be very long, but it causes volatility.
Kurumsal Kaynak Planlaması ve Muhasebe
Kurumsal Kaynak Planlaması ve Muhasebe
(Enterprise Resource Planning and Accounting)
- Author(s):Türkan Tuğba Ural, Ali Apalı
- Language:Turkish
- Subject(s):Business Economy / Management, Policy, planning, forecast and speculation, Accounting - Business Administration
- Page Range:195-212
- No. of Pages:18
- Keywords:Accounting; enterprise resource planning;
- Summary/Abstract:The subject of this study is enterprise resource planning, which includes a broad network from stock to the warehouse, from supplier to customer, from stock to warehouse, and from supplier to customer, to be able to follow and manage the enterprise from anywhere at any time, regardless of whether it is a small business or a holding, to stay in the market under ever-changing and developing economic conditions. Within the scope of this subject, the study aims to provide information about the definition, historical process, general features, general module structure, and advantages and disadvantages of enterprise resource planning. Regardless of whether the enterprise is small, medium-sized enterprise or large enterprise, regardless of the position of the personnel in the enterprise, enterprise resource planning software, which provides time savings in every sense as a result of the software programs used, has become indispensable in the accounting field. Regardless of whether the business is a small business, medium-sized business or large business, regardless of the position of the personnel in the business, enterprise resource planning software, which provides time savings in every sense as a result of the software programs used, has become indispensable in the accounting field. In the last part of the study, the issue of accounting with enterprise resource planning is discussed, and as a result of the use of enterprise resource planning, whether it is an accounting staff working within the enterprise or a financial advisor, thanks to this software, they can follow the follow-up of the documents of the enterprise/taxpayers more easily and quickly, they can access the reports and documents requested by the taxpayer faster, and they can also benefit from programs such as reporting and book submission.