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on Central and Western Asia |
| By: | Tansel, Aysit; Karaoglan, Deniz |
| Abstract: | This is the first study which provides empirical analysis of the variation in health behaviors for adult men and women in Turkey which is a developing country. The health behaviors considered are smoking, drinking, fruit and vegetable consumption, exercise and body mass index (BMI). We find that in Turkey education is the most important factor that affects the health behaviors. The results indicate that smoking is positively associated with education at all levels with a decreasing effect with the level of education unlike in the developed countries. This result indicates that smoking is a serious public health problem in Turkey at all levels of education. Further, alcohol consumption and schooling are positively related and it increases by the level of education. Higher educated individuals clearly eat more fruits, vegetables and exercise more and their BMI levels are in the normal range compared to less educated and illiterate. We also highlight the importance of demographic factors, labor market status and household income. We use Health Survey of Turkish Statistical Institute (TURKSTAT) for years 2008, 2010 and 2012. This study will provide a baseline for further studies on the various aspects of health behaviors in Turkey. |
| Keywords: | Health Behaviors, Education, Demographic Factors, Turkey |
| JEL: | I10 I12 I2 I20 |
| Date: | 2014–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:57322&r=cwa |
| By: | Arslanli, Kerem Yavuz; Pekdemir, Dilek |
| Abstract: | Turkish REICs background goes back to late 1990s and their portfolio structure diversifies between different assets. Since 2005, REICs became specialized in certain areas, such as retail, residential, logistics and hotel.Residential REICs have a 'develop/sold' strategy while commercial REICs have 'buy/hold' strategy in Turkey. Therefore, residential REICs focus on 'developer's profit' instead of 'rental income and capital gains' and it causes high risk premium due to uncertainty in development projects. Over the period 2005 - 2010, residential investments have delivered higher returns than commercial, while return of commercial investments have been volatile.Turkish REICs present an alternative investment vehicle for both individual and institutional investors. Investors and fund managers search for accurate information on the performance of REITs, so this paper attempt to analyze the underlying drivers of performance of total return for Residential and Commercial REICs of Turkey, over time.This paper is a part of research project titled 'Performance Analysis of Real Estate Investment Companies and Direct Real Estate Investments in Turkey', supported and financed by EPRA. |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2013_115&r=cwa |
| By: | Arslanli, Kerem Yavuz |
| Abstract: | After 2002 economic restructuring encouraged the growth in Turkey. Between the years 2002 and 2006, Turkish economy has grown by 7.5%. Consequently, private consumption expenditure have increased by 8% annually, by 6% per capita and private sector investments in fixed assets have increased by 23%. In parallel, the housing and commercial real estate sectors have also demonstrated a considerable growth. Foreign capital investments and the shares of international investors in commercial real estates have also increased. In this paper multi-centre development of Istanbul is investigated with respect to Office, Retail and Residential markets. The Central Business District of Istanbul begins with the Barbaros Boulevard, continues along the Büyükdere Avenue and reaches to Maslak. The high-rise plaza type offices on the Esentepe-Zincirlikuyu-Levent-Maslak direction have contributed to the development of this central business district. This paper investigates and models the possible outcomes of additional 3 million population among districts of Istanbul as the local planning authority predicts. |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2014_186&r=cwa |
| By: | Coskun, Yener; Watkins, Craig |
| Abstract: | Notions of housing affordability concept are at the heart of debates about access to home ownership, housing finance and social policies globally. The existing housing affordability literature mostly focuses mainly on developed countries. Housing affordability problem in emerging countries are starting to attract increasing attention. This paper seeks to contribute to this emergent literature by analysing housing affordability in Turkey. The paper explores market trends, the nature of the affordability problem and makes some tentative policy suggestions. The paper develops a theoretically informed model to assess affordability using data from 2005 to 2012 on house price to income ratios, the housing affordability index of Turkey (HAIT), and a variety of social and economic indicators. The Turkish results are contrasted with similar measures for other countries. |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2013_12&r=cwa |
| By: | Coskun, Yener |
| Abstract: | The objective of the paper is to define conditions of mortgage market development in Turkey by presenting the findings of dynamic causal relationships between housing loans and selected socio/macro-economic indicators for the term 2005/01-2011/09. By using monthly time series, we employ granger causality tests, co-integration analysis and vector error correction model (VECM) in the research. The paper specifically aims to analyze the impacts of financial stability, financial risks, monetary policy, households' income/net wealth and housing demand to mortgage credits. We conclude based on the co-integration analysis that housing credit, interest rates, occupancy permits, real GDP per person and monetary aggregate (M2) have long term relationship with housing credits in Turkey. In the paper, we argue that the outcome has important policy implications for both Turkey and emerging economies. In this context, we underline that mortgage market policies in emerging economies should have a balanced approach between market economy and social needs. |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2013_11&r=cwa |
| By: | Aytekin Güven (Abant İzzet Baysal Üniversitesi, İktisat Bölümü, Turkey); Başak Dalgıç (Hacettepe Üniversitesi, Maliye Bölümü, Turkey); Aysit Tansel (Orta Doğu Teknik Üniversitesi, İktisat Bölümü, Turkey) |
| Abstract: | Son dönemlerde dünya genelinde artan gelir eşitsizlikleri, iktisatçıların dikkatlerini eşitsizlikleri dengeleyici faktörlerden biri olarak görülen bireylerin gelir durumlarını daha üst ya da daha alt gelir gruplarına taşıyabilmeleri olarak adlandırılan gelir hareketliliği konusuna çevirmelerine neden olmuştur. Gelir hareketliliği ve eşitsizlikler üzerindeki etkileri 2000’li yıllardan sonra ve daha çok gelişmiş ülkeler için incelenmeye başlanmış ve genel bir sonuca ulaşmak için henüz yeterli sayıda çalışma yapılmamıştır. Bu çalışma gelir dağılımı en adaletsiz ülkeler arasında yer alan Türkiye için bir gelir eşitsizliği ve gelir hareketliliği analizi yaparak gelişmekte olan ülke örneği ile literatüre katkı sunmayı amaçlamaktadır. Çalışmadan elde edilen sonuçlar özetle şöyledir: i) Ele alınan dönem uzadıkça gelir hareketliliği atmaktadır ancak bu hareketlilik gelir eşitsizliğini azaltıcı nitelikte değildir. ii) Gelir dağılımının an alt ve en üst grupları diğer gruplara göre daha hareketlidir. iii) Ele alından alt dönemlerde en alt gelir grubundaki bireylerin %30’u işsiz durumuna düşerken, yalnızca %1,5’i en üst gelir grubuna yükselebilmiştir. |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:tek:wpaper:2014/07&r=cwa |
| By: | Esen, Bugra Kagan |
| Abstract: | It has been more than a decade now, since the inflow of foreign money has created a real estate boom in Turkey, which was a globally safe harbor. In addition with the lower rate mortgage loans, Turkey’s property values have skyrocketed. Many independent research works show that real estate is by far the best investment choice of the Turkish people. As they become wealthier, they tend to buy more and more properties. It is interesting to analyze; what is the motivation of buyers when they consider such a property purchase and what kind of properties do the Turkish people demand as they obtain surplus money?The two questions may have some many answers, which can be reduced to two: function and status. For single property owners, function generally means a larger, safer, warmer, living place with better features. Function, for multiple property owners, also means a money flow from monthly rent.Status, however, is a more interesting issue. Some properties in major cities are purchased for prestige, where their values cannot be justified by functionality or rent inflow. This is also because some properties are limited in quantity or may not be available at once. Waterside residences in Istanbul for instance, may be sold for up to tens of millions of Dollars. Every major Turkish city has such extremes, which are also high in number. This Paper’s contribution to the real estate sciences may be twofold: It questions the property valuation parameters in a more macroeconomic awareness and it may theoretically help well-off individuals find different ways of investment. |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2014_68&r=cwa |
| By: | Esen, Bugra Kagan |
| Abstract: | In the last couple of years, urban renewal practices in Turkey, has become a more interesting topic for researchers than ever. One reason is that, the evidences of these decade-lasting projects have now become physically tangible and thus, subject to a spectrum of concerns. The other reason, however, relates more to the top-down style that these projects are implemented. Most of the time, it is argued that, the decision making process heavily depends on the local or central governmental authorities, which lack the participation of the people as well as the academic or civil parties. In light of these facts, this paper questions in what extend it is possible to modify –or flex- urban renewal projects according to changing times and conditions, which represent a timeline of administrative, legal, technical, social, political and financial aspects. On one hand, from the authorities viewpoint, it is seen crucial to make solid decisions and comply with these projects without hesitation. On the other hand, it is not always possible to foresee what time would bring and make decisions to cover this fourth dimension. In this paper, one real-life example from the capital city, the New Mamak Urban Renewal Project including 18.000 dwellings, has been analyzed to show how things may get out of hand due to changing conditions in time and how modifications may be needed in the half way. This paper aims to contribute to the real estate sciences in the sense that; complicated and long lasting urban renewal projects can be better accomplished if some flexibility techniques, as suggested in the paper, can be taken into consideration in a well established way. |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2013_177&r=cwa |
| By: | Loschman C.; Parsons C.R.; Siegel M. (UNU-MERIT) |
| Abstract: | Forced migration, often resulting from violent conflict, imposes large economic costs on both sending and receiving countries, on those agencies that coordinate humanitarian services and most importantly upon the forced migrants themselves. Programmes encouraging the return of refugees are therefore potentially crucial interventions, which can result in all parties benefiting. In this paper, we assess the UNHCR post-return shelter assistance programme in Afghanistan between 2009 and 2011, the country most affected by refugee movements, where no less than one-third of the population is a returnee. Given the infeasibility of randomizing shelter assistance to those repatriated, we implement a variety of matching techniques to insulate our results from selection biases. Adopting a multidimensional approach, our results show that shelter assistance reduces multidimensional poverty by around six percentage points. This reduction in poverty is driven by particular indicators of deprivation including dietary diversity, food security and heating, all of which are shown to fall by five to six percent depending on the matching specification. The former results are particularly encouraging in the context of Afghanistan given the prevalence of chronic malnutrition in the country. |
| Keywords: | International Migration; Measurement and Analysis of Poverty; |
| JEL: | F22 I32 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:unm:unumer:2014051&r=cwa |
| By: | Wong P-H. (UNU-MERIT) |
| Abstract: | Recent studies in general are positive regarding the effectiveness of US counterinsurgency programs in Iraq. The right mix of coercion, ethnic strategy, and public goods provision, it is argued, makes Iraqis less likely to rebel against the US army and the Iraqi government, thus reducing insurgent violence. In fact, the number of insurgent attacks dramatically declined shortly after the change in the counterinsurgency strategy in 2007. How robust is the positive finding A common assumption behind previous analyses is that insurgent attacks have a strong local root and is unlikely to be reproduced in other areas. Violation of this spatial independence assumption, however, can potentially bias towards the positive result. Based on the novel spatial dynamic panel data SDPD model, my analysis shows that spatial dependence should be addressed and cannot be assumed away. Results based on the new model also reveal that, conditional upon other strategies, the effects of a counterinsurgency strategy vary considerably both in magnitude and direction, suggesting that some policy mixes could be counterproductive. Policy makers seeking to adopt similar strategies in Afghanistan should take the relocation into account in their policy evaluations. |
| Keywords: | Conflict; Conflict Resolution; Alliances; International Conflicts; Negotiations; Sanctions; National Security; Economic Nationalism; National Government Expenditures and Welfare Programs; National Security and War; Economywide Country Studies: Asia including Middle East; |
| JEL: | D74 F51 F52 H53 H56 O53 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:unm:unumer:2014045&r=cwa |