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on Central and Western Asia |
| By: | Badalyan, Gohar; Herzfeld, Thomas; Rajcaniova, Miroslava |
| Keywords: | Research Methods/ Statistical Methods, |
| Date: | 2014–05–19 |
| URL: | http://d.repec.org/n?u=RePEc:ags:eaa142:168922&r=cwa |
| By: | Tansel, Aysit; Dalgıç, Başak; Güven, Aytekin |
| Abstract: | This paper investigates wage inequality and wage mobility in Turkey using the Surveys on Income and Living Conditions (SILC). This is the first paper that explores wage mobility for Turkey. It differs from the existing literature by providing analyses of wage inequality and wage mobility over various socioeconomic groups such as gender, age, education and sector of economic activity. We first present an overview of the evolution of wages and wage inequality over the period 2005-2011. Next, we compute several measures of wage mobility and explore the link between wage inequality and wage mobility. Further, we compute the transition matrices which show movements of individuals across the wage distribution from one period to another and investigate the determinants of transition probabilities using a multinomial logit model. The results show that overall the real wages increased over the study period and wage inequality exhibits a slight increase.. Wage inequality is one of the highest among the European Union (EU) countries. The wage mobility in Turkey is lower than what is observed in the European Union countries although it increases as time horizon expands. Wage mobility has an equalizing impact on the wage distribution, however; this impact is not substantial enough to overcome the high and persistent wage inequality in Turkey. |
| Keywords: | Wage Inequality, Wage Mobility, Heterogeneity, Turkey |
| JEL: | D31 D63 J31 J60 |
| Date: | 2014–11–05 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:59764&r=cwa |
| By: | Asli M. Colpan (Kyoto University, Graduate School of Management); Geoffrey G. Jones (Harvard Business School, General Management Unit) |
| Abstract: | This working paper examines the origins and development of the Koç Group, which grew to be the largest business group in Turkey. This enterprise was an important actor in the emergence of modern business enterprise in the new state of the Republic of Turkey from the 1920s. After World War II it diversified rapidly, forming part of a cluster of business groups which dominated the Turkish economy alongside state-owned firms. This study shows how the founder of the Group, Vehbi Koç, formulated his business model, and analyzes how his firm evolved into a diversified business group. The research supports prevailing explanations of business groups which identify the role of institutional voids, government policies and contact capabilities, but it also builds on and extends earlier suggestions in both the management and business history literatures that entrepreneurship needs incorporating more strongly as an explanatory factor. This working paper argues that Koç acted as both a Kirznerian and Schumpeterian entrepreneur to build his business group, both in its formative stages and later in its subsequent growth into a diversified group. |
| Keywords: | business groups, Turkey, Entrepreneurship in emerging markets. |
| Date: | 2014–11 |
| URL: | http://d.repec.org/n?u=RePEc:hbs:wpaper:15-035&r=cwa |
| By: | Deger, Cagacan |
| Abstract: | It is frequently stated that Turkey's trade orientation has shifted in the last decade away from Europe and more towards the East, specifically Arab countries and Middle East. However, comprehensive presentation of the situation is lacking, causing concern over the validity of the statement. This paper examines the foreign trade of Turkey for years 1995 to 2012. The analysis focuses on a number of country groups and product categories. The analysis confirms the shift away from EU and towards not only Arab countries but Asia as a whole, primarily due to gas imports from Russia. It is observed that Turkey's exports are becoming more focused towards manufactured goods and increasing in technological complexity. An interesting observation is the increase in the share of “commodities and transactions not elsewhere classified”, especially with the Arab countries. |
| Keywords: | international trade; Turkey; trade patterns |
| JEL: | F10 F14 |
| Date: | 2014–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:59817&r=cwa |
| By: | Hatice Jenkins (Department of Banking and Finance, Eastern Mediterranean University, North Cyprus); Monir Hussain (Department of Banking and Finance, Eastern Mediterranean University, North Cyprus) |
| Abstract: | Providing SMEs with access to external finance has been a major concern for many governments and international organizations for three decades. In recent years the experiences of emerging market countries suggest that a paradigm shift is taking place in SME finance. Particularly in fast-growing emerging market countries, banks are increasingly targeting SMEs as a new line of banking business. This research analyzes how the macroeconomic factors have contributed to the increased commercial bank lending to SMEs in Turkey, a fast-growing emerging market country. Based on an econometric analysis it is found that a high GDP growth rate and increasing competition in the Turkish banking sector have contributed to the growing banking sector credit to SMEs. The findings also reveal that curbing the high inflation rate and reducing government domestic borrowings have significantly helped to encourage bank lending to the SME segment. This research contributes to the literature by providing empirical evidence to much-discussed theoretical arguments on the characteristics of an enabling macroeconomic environment for SME finance. |
| Keywords: | SME lending, macroeconomics, banking sector, emerging markets, access to credit |
| JEL: | G21 G28 O12 |
| Date: | 2014–06 |
| URL: | http://d.repec.org/n?u=RePEc:qed:dpaper:261&r=cwa |
| By: | Aysenur Acar (Bahcesehir University Center for Economic and Social Research); Cem Baslevent (Istanbul Bilgi University) |
| Abstract: | Using a balanced panel drawn from Turkstat’s Survey of Income and Living Conditions (SILC), we aim to identify the main determinants of Turkish households’ entry into and exit from poverty. During the 4 year period (2007-2010) examined, the relative income poverty rate declined moderately, implying that households were more likely to exit than enter poverty. In addition to a descriptive analysis where poor, non-poor, entrant, and exitor households are compared in terms of basic household and household head characteristics, the empirical work involves the estimation of binary choice models that analyze the relative importance of these factors. Our models reveal that the employment status and schooling of the household head and household size are closely associated with poverty status changes. The probability of entry into poverty, for instance, is higher for larger households with many inactive/dependent members. However, model specifications that produce the best fit are the ones that take into account the changes in household composition and the amounts of income types received. |
| Keywords: | poverty transitions, relative income poverty, binary choice models |
| Date: | 2014–11 |
| URL: | http://d.repec.org/n?u=RePEc:bae:wpaper:015&r=cwa |
| By: | Gotz, Linde; Djuric, Ivan; Glauben, Thomas |
| Abstract: | This study analyzes the domestic price effects of export controls for all 3 KRU countries during the 2007/08 as well as the 2010/11 commodity price peaks. We develop two indicators to measure the strength of the export controls’ price damping and price insulating effect within a non-linear long-run price transmission model. Our analysis comprises 11 cases of export controls, distinguishing regional price effects within Russia. We observe heterogeneity in the damping and insulating effects of the export controls among the KRU and among the regions of Russia. Our model identifies the strongest domestic price effects during the export ban in North Caucasus (Russia), which were transmitted to Central, Black Earth and Volga regions by wheat flows from North Caucasus. For Ukraine the strongest price effects are observed during the export tax system 2011. The price effects identified for the 2006/7, 2007/8 and 2010/11 export quota systems are comparable to those observed for Central, Black Earth and Volga region. Contrary, our results do not identify any price effects of the export ban in Russia on Ural and West Siberia. We also do not find price decreasing effects during the export ban in Kazakhstan and the export tax system in Russia 2007/8. Concluding, the effectiveness of export controls in the KRU to dampen and decouple domestic wheat prices from world market price developments is generally rather limited. |
| Keywords: | export controls, market integration, price transmission, crisis policy, Russia, Crop Production/Industries, Demand and Price Analysis, |
| Date: | 2014–09 |
| URL: | http://d.repec.org/n?u=RePEc:ags:gewi14:187448&r=cwa |
| By: | Kavtaradze, Lasha |
| Abstract: | This paper examines inflation dynamics in Georgia using a hybrid New Keynesian Phillips Curve (NKPC) nested within a time-varying parameter (TVP) framework, which incorporates both forward-looking and backward-looking components. Estimation of a TVP model with stochastic volatility shows low inflation persistence over the entire time span (1996-2012), while revealing increasing volatility of inflation shocks since the “Rose Revolution” in 2003. Moreover, parameter estimates point to the forward-looking component of the model gaining importance following the National Bank of Georgia (NBG) adoption of inflation targeting in 2009. However, since 2011 the inertia of the expected future inflation takes a declining process while the backward-looking (lagged) component gradually climbs upward, thus, challenging the NBG in revising its target benchmark of 6%. |
| Keywords: | Inflation dynamics, Georgian economy, hybrid NKPC models, time-varying parameters, MCMC sampling method, Kalman filter. |
| JEL: | E31 E32 E52 E58 |
| Date: | 2014–07–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:59966&r=cwa |