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on Arab World |
| By: | dumludag, devrim |
| Abstract: | This paper compares the political economy of foreign direct investment (FDI) in relation to economic development strategies and legal framework for foreign firms in Egypt and Turkey. The paper briefly examines the FDI performances of these countries starting from the end of the nineteenth century to the first decades of the twenty first century. In addition, in this paper, the legal framework for FDI is analyzed. Finally the paper put emphasis on the similarities between the FDI performances and the obstacles that foreign investors face in these countries. |
| Keywords: | Egypt, Turkey, Economic Conditions, Foreign Direct Investment, Legal Framework |
| JEL: | F23 F21 |
| Date: | 2010–10–24 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:27520&r=ara |
| By: | Benjamin Beranek (Department of Economics, Izmir University of Economics); Alper Duman (Department of Economics, Izmir University of Economics) |
| Abstract: | While the public good experiment has been used to analyze cooperation among various groups in Western Europe and North America, it has not been extensively used in other contexts such as Turkey. This project seeks to rectify that and explore how Turkish university students informally self govern. By employing the public good experiment among a cohort of students attending universities in Ýzmir, Turkey and Adýyaman, Turkey, we hope to quantitatively analyze the factors which lead to altruistic punishment, to antisocial punishment, and ultimately to enhanced cooperation in Turkish society. |
| Keywords: | Cooperation, Free Riding, Altruism, Punishment, Trust, Experimental Economics, Public Good Experiments |
| JEL: | C72 C91 |
| Date: | 2010–10 |
| URL: | http://d.repec.org/n?u=RePEc:izm:wpaper:1004&r=ara |
| By: | Frédéric Docquier (IRES, Université Catholique de Louvain and FNRS); Luca Marchiori (CREA, University of Luxembourg) |
| Abstract: | In this paper, we analyze the consequences of increasing MENA-to-EU migration flows on both sending and receiving regions. In the first part of the paper, we characterize the structure of MENA emigration as well as the demographic trends in the EU and MENA. We show that EU27 is a major destination for 9 MENA countries, including Algeria, Egypt, Morocco and Tunisia. Potential increased flows of MENA-to-EU migration in the future would in all probability particularly impact these countries. Moreover, replacement migration policies encouraging MENA-to-EU flows of working-age people would need to be temporary, as MENA countries themselves will be facing labor shortages in the future. In the second part of the paper, we analyze the economic effects of increased migration using a general equilibrium model. We find that increasing MENA-to-EU migration would generate significant changes in EU15 tax rates and GNI per capita, smoothing the fiscal and economic burdens of aging. Compared to a non-selective immigration shock, selecting immigrants has a moderate impact in reducing tax rates, but leads to a greater impact on GNI per capita in the EU15. On the other hand, increases in emigration, without some compensating policies on education, would have a strong detrimental impact on MENA tax rates, especially if emigrants are high-skilled. Regarding GNI per capita and inequality in MENA, increasing low-skilled emigration leads to strong improvements (mainly due to remittances) while increasing high-high-skilled emigration induces detrimental consequences. Finally, the negative effects of a more selective migration policy in MENA may be considerably mitigated if the brain drain leads to sideeffects or is accompanied by increased education attainment at origin. In particular, our results suggest that a stronger partnership between EU15 and selected MENA countries, involving more high-skilled migration and a greater cooperation in human capital formation, could raise the welfare of all parties concerned. |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:luc:wpaper:10-18&r=ara |
| By: | Polat, Sezgin (Galatasaray University Economic Research Center); Saraceno, Francesco (Observatoire Français des Conjonctures Économiques) |
| Abstract: | We investigate the general equilibrium effects of minimum consumption constraints over labor supply decisions. Within a simple static model, a minimum consumption constraint modifies labor supply decisions of unskilled workers, generating the well-known added worker effect. The results of the model help to analyze the Turkish labor market where added worker effects were observed following the 2001 crisis. We investigate the asymmetric effects of the crisis, using the Household Budget Surveys that cover the period between 2002 and 2005. The substantial decrease in real wages has increased labor supply for unskilled labor, especially for women |
| Keywords: | Added worker; Taxation; Bivariate Probit; Labor Supply; Turkey |
| JEL: | H23 J21 J22 J31 |
| Date: | 2010–12 |
| URL: | http://d.repec.org/n?u=RePEc:ris:giamwp:2010_003&r=ara |
| By: | Serdar Çelik (Department of Mechanical Engineering, Southern Illinois University Edwardsville); William Retzlaff (Department of Biological Sciences, Southern Illinois University Edwardsville); Susan Morgan (Department of Civil Engineering, Southern Illinois University Edwardsville); Ayla Ogus Binatli (Department of Economics, Izmir University of Economics); Cemil Ceylan (Department of Industrial Engineering, Istanbul Technical University) |
| Abstract: | This paper examines the energy savings, environmental benefits, and economic impact of green roof systems applied to a “micro” region in Western Turkey. This subdivision (Artur) in Karaaðaç, Izmir, consists of 1729 residential units, mostly used as summer homes. The units are in 45m2, 60m2, 90m2, and 105m2 sizes. Five different plant types were considered to be blended and planted in two different choices of growth media. Thermal benefits of the vegetated roofs to the pilot site were evaluated using appropriate heat transfer equations. For analyzing the impact of use of such systems on the local economy, monetary injection into the local economy was calculated and a multiplier effect of 2.66 was assumed. Net present value (NPV) of the generated income for the first 10 years was calculated to be approximately $14.5 million. In addition, approximately 300 new local jobs over a period of 10 years were estimated to be created. |
| Keywords: | Green roofs, Economic impact, Energy conservation, Turkey |
| JEL: | Q2 Q4 Q5 |
| Date: | 2010–09 |
| URL: | http://d.repec.org/n?u=RePEc:izm:wpaper:1001&r=ara |
| By: | Tansel, Aysit (Middle East Technical University); Yaşar, Pınar (State Planning Organization) |
| Abstract: | This study estimates a Keynesian simultaneous, dynamic macroeconometric model to investigate the impact of remittances on key macro variables such as consumption, investment, imports and income in Turkey. The estimated impact and dynamic multipliers indicate that impact of remittances on consumption, imports and income are all positive and reduce gradually while that on investment wears out in the second year. The impact multiplier for income implies a substantial increase in income due to remittances through the multiplier process. The remittances-induced output growth rate is highest during the early 1970s and the early 1980s, but negligible during the other years. |
| Keywords: | dynamic model, remittances-induced output growth, remittances |
| JEL: | F22 F21 C52 |
| Date: | 2010–12 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp5376&r=ara |
| By: | Nour, Samia Satti Osman Mohamed (Faculty of Economic and Social Studies, Khartoum University, and UNU-MERIT) |
| Abstract: | In this paper we discuss the interaction between science policies (and particularly in the area of scientific research) and higher education policies in Gulf and Mediterranean Arab countries. Our analysis reveals a discrepancy between the two sub-regions with respect to integration in the global market, cooperation in scientific research and international mobility of students. The paper discusses the implications of the analysis of reform policies and higher education restructuring. |
| Keywords: | : Higher Education, Science Policies, Arab Region, Regional Influence, Global Influence |
| JEL: | I20 I23 I28 O10 O15 O30 |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:unumer:2010065&r=ara |
| By: | Angel-Urdinola, Diego F.; Semlali, Amina |
| Abstract: | Analysis in this policy note indicates a rapid deterioration in employment opportunities for young individuals transitioning from school to work in Egypt. Despite substantial improvements in labor market outcomes in recent years (in raising employment and participation and in lowering unemployment), unemployment rates in Egypt remain exceedingly high among youth entering the labor market for the first time. A slow school-to-work transition remains the main reason behind high unemployment rates. Young entrants to the labor market have become more educated than ever before: the share of the working-age-population with university education in Egypt has increased significantly between the years 1998 and 2006 (from 14% to 19% among men and from 9% to 14% among women). However, youth are unable to capitalize the time and resources invested in their education as the labor market is not providing enough good-quality jobs for them. To cope with scarce formal jobs, young-educated workers are opting to work in the informal sector and/or withdraw from the labor force, which is contributing to a deadweight loss of recent investments in education. There are three key factors that seem to explain why school-to-job transition remains low in Egypt: investments in the private sector remain low and capital intensive, new graduates are not equipped with the skills demanded by the private sector, and the public sector still provides incentives for educated individuals (mainly women) to queue for private sector jobs. There are several policy options used in the international context to further enhance the performance of the labor market; such as removing obstacles in regulation, enhancing employability of new entrants, reforming the civil service, and designing targeted programs aiming to boost labor demand. |
| Keywords: | Labor markets; Egypt; unemployment; training; labor regulation; school-to-job transition |
| JEL: | J01 J24 J30 |
| Date: | 2010–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:27674&r=ara |
| By: | Nour, Samia Satti Osman Mohamed (Faculty of Economic and Social Studies, Khartoum University, and UNU-MERIT) |
| Abstract: | In this paper we use the systematic, descriptive and statistical approaches, fill the gap in the Arab literature and present a more comprehensive analysis of the important ways of enhancing the incidence and transfer of knowledge in the Arab countries. Different from the conventional view in the literature that use the conventional classification of countries according to income level, an interesting element in our analysis is that we use a more comprehensive classification not only by income level but also by geographic location and the structure of the economy to examine the important ways of enhancing the incidence and transfer of knowledge in the Arab countries. We find that somewhat surprising the classification of Arab countries by income level provides inconclusive evidences in terms of capacity to create knowledge. Our findings support the first hypothesis that the components of knowledge show positive correlation with economic growth and hence can be used to enhance economic growth and promote human capital in the Arab countries. Our results corroborate the second and third hypotheses that the incidence and transfer of knowledge can be enhanced by institutional support in the form of subsidies and incentives to knowledge components (education, R&D and ICT). The major policy implication from our findings is that in order to benefit from integration in global knowledge economy the Arab countries should create the most appropriate political, economic, educational, technological and scientific institutions. The Arab countries should stimulate local efforts and incentives for building and transferring knowledge and should pay more attention to enhance institutions setting, especially, effective system of intellectual property rights protection to motivate the creation and transfer of knowledge. Apart from the role of Arab governments, it is essential for Arab societies to support the culture aimed at fostering and enhancing the incidence and transfer of knowledge. |
| Keywords: | : Tacit Knowledge, Codified Knowledge, Transfer of Knowledge, Arab countries |
| JEL: | O10 O11 O30 |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:unumer:2010064&r=ara |
| By: | Staveren, I.P. van |
| Abstract: | The paper looks at several financial crises in the past: the Asian financial crisis, the Brazilian, Argentine and Turkish financial crises, around the turn of the last century. Data are analyzed for a 10-year period around these crises. The data include gender indicators (mostly female-male gaps) in education, health and the labour market and show lack of progress or even declines in gender equality in these periods of crises in the eight countries analyzed. Moreover, a control group of countries is used as counterfactual, indicating better performance on gender equality and hence, a diverging trend between the two country groups. |
| Keywords: | financial crisis;gender;inequality |
| Date: | 2010–12–07 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:euriss:511&r=ara |
| By: | Christian Kalhoefer (Faculty of Management Technology, The German University in Cairo); Sara Shenouda (Faculty of Management Technology, The German University in Cairo); Ahmed Badawi (Faculty of Management Technology, The German University in Cairo) |
| Abstract: | The forward premium puzzle in the exchange rate market, resulting from the deviation and failure of interest rate parity, has awakened the interest of speculators to perform carry trade activities. Across literature the main risk associated and measured for carry trade has been the exchange rate risk and crash risk related to the relevant currencies used. But within the literature, the influence of maintained currencies on the carry trade results has not yet been covered. This paper analyzes the potential performance and the risk of carry trade strategies within a maintained exchange rate regime. For this analysis an empirical study of carry trade strategies applied between the EGP and other currencies has been used and compared to those with the USD as an example for a maintained exchange rate. Our risk and return analysis clearly shows a combination of high return and low risk for the maintained currency carry trade. |
| Keywords: | Carry Trade Performance, Uncovered Interest Parity, Maintained Exchange Rates, Value at Risk |
| JEL: | F31 G15 |
| Date: | 2010–12 |
| URL: | http://d.repec.org/n?u=RePEc:guc:wpaper:24&r=ara |
| By: | Carles Manera Erbina (Universitat de les Illes Balears); Jaume Garau Taberner (Universitat de les Illes Balears); Ramon Molina de Dios (Universitat de les Illes Balears) |
| Abstract: | The explosion of mass tourism since the end of the Second World War has had a tangible effect on crucial flows of manpower, investment and production strategy towards the leisure economy in a large part of the world, with changes that take us back to what occurred two hundred years earlier in the heat of the Industrial Revolution. However, perhaps it is in particular areas (as was the case with the thrust of industrialisation) such as the Mediterranean basin, where this view can be identified more accurately. Both approaches are reflected in the key objectives of the work. In the first section of this research we discuss the major figures available on the growth of tourism since the Second World War, whilst at the same time outlining the fundamental theoretical keystones of the study: the claim with regard to a particular techno-economic paradigm in the case of mass tourism, involved in the fifth technological revolution seen since the Industrial Revolution. The second section deals specifically with the Mediterranean in its main tourism elements, based on the sources available: number of visitors, overnight stays and tourism expenditure. Finally, some conclusions are offered in order to summarise the work. |
| Keywords: | First Comers and Late Comers in Mass Tourism Economics. Techno-economics changes. |
| JEL: | L83 N30 N74 N93 |
| Date: | 2010–12 |
| URL: | http://d.repec.org/n?u=RePEc:ahe:dtaehe:1014&r=ara |