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on Central and Western Asia |
| By: | Tansel, Aysit (Middle East Technical University) |
| Abstract: | This study investigates inequality of opportunity in educational achievements in Turkey over time. For this purpose we use test scores of PISA in mathematics, science and reading achievement of 15-year-olds over the period 2003-2012. Since the different waves of the samples cover only a fraction of the cohorts of 15-year olds we take into account the inequality of opportunity in access to the PISA test as well as the inequality of opportunity of the academic achievement in the PISA test. This procedure enables proper over time comparisons. We estimate the effect of circumstances children are born into on their academic achievement as evidenced in their PISA test scores. The main findings are as follows. First, confirming the previous studies we find that inequality of opportunity is a large part of the inequality of educational achievement in Turkey. Second, the inequality of opportunity in educational achievement shows a slightly decreasing trend over time in Turkey. Third, the inequality of opportunity figures based on the mathematics, science and reading achievements exhibited the similar trend over time. Forth, the family background variables are the most important determinants of the inequality in educational achievement which is a consistent pattern over time. However, there is also evidence of slight weakening of these factors over time. Policies are necessary to improve equality of opportunity in education in Turkey. |
| Keywords: | inequality of opportunity, education, Turkey |
| JEL: | I24 D63 |
| Date: | 2015–04 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp9005&r=cwa |
| By: | Sy-Hoa HO (EPEE - University of Evry Val d’Essonne,CEPN - University of Paris North) |
| Abstract: | In this paper, we study the asymmetric long-run and short-run determinants of the sovereign bond index, a proxy of sovereign default, for two typical emerging countries: Turkey and Brazil over the 2000Q1-2011Q4 period. The determinants of the sovereign bond index are estimated by three macroeconomic factors: the current account, the external debt and international reserves. In particular, we use the positive and negative partial sum decomposition of the current account to determine the asymmetric effects on the sovereign bond index. Our findings can be summarized as follows: i, An asymmetric long-run relationship exists between the sovereign bond index and the explanatory variables for the following models. Only the long-run effect is asymmetric for Turkey while both short-run and long-run effects are asymmetric for Brazil. ii, The positive and negative shocks on the current account are more significant than a shock on international reserves to reduce the sovereign default risk for Turkey. iii, A negative shock on the current account is stronger than a positive one for Brazil. |
| Keywords: | EMBI+, asymmetry, NARDL |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:eve:wpaper:15-02&r=cwa |
| By: | Ekizceleroglu, Caner |
| Abstract: | Cesse Colombo'nun yaklaşık bir yıl önce Forbes dergisinin web sitesinde yayınladığı bir makaleyi okuyunca, farklı bakış açılarının ne kadar önemli olduğunu gördüm. Bazen gerçekten olayın dışına çıkarak gözlemlemek gerekiyor. Türkiye ekonomisine de böyle bir bakış açısı gerekli. Son on günde Financial Times'ın Türkiye Eki ve Dani Rodrik'in Türkiye ekonomisi üzerine kaleme aldığı yazısı Türkiye ekonomisinin Türkiye dışından farklı algılandığını kanıtlar niteliktedir. |
| Keywords: | Türkiye Ekonomisi, Balon, Kredi Genişlemesi, |
| JEL: | E0 E5 E51 G18 |
| Date: | 2015–04–24 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:63896&r=cwa |
| By: | Deniz Baglan (Department of Economics, Howard University); M. Ege Yazgan (Department of Economics, Kadir Has University); Hakan Yilmazkuday (Department of Economics, Florida International University) |
| Abstract: | This paper investigates the relationship between relative price variability (RPV) and inflation using monthly micro price data for 128 goods in 13 Turkish regions/cities for the period 1994-2010. The unique feature of this data set is the inclusion of annual inflation rates ranging between 0 % and 90 %. Nonparametric estimations show that there is a hump-shaped relationship between RPV and inflation, where the maximum RPV is achieved when annual inflation is approximately 20 %. It is shown that this result is consistent with a region- or city-level homogenous menu cost model featuring Calvo pricing with an endogenous contract structure and non-zero steady-state inflation. |
| Keywords: | Relative price variability, Calvo pricing, Menu costs |
| JEL: | E31 E52 |
| Date: | 2015–03 |
| URL: | http://d.repec.org/n?u=RePEc:fiu:wpaper:1502&r=cwa |
| By: | Metaxas, Theodore; Kechagia, Polyxeni |
| Abstract: | The majority of the developing economies worldwide use foreign capitals inflow so as to achieve economic growth. The host countries proceed to economic and political transformations so as to improve their attractiveness and to become top foreign direct investment destinations. In addition, the foreign inflows enable the host country’s productivity rates and improve the standard of living. A significant amount of these capitals are directed in the developing economies of the Latin American and the Post – Soviet Central Asian countries. The cases of Peru and Uzbekistan are chosen among these developing economies of the regions so as to investigate the impact of the foreign inflows on the economic growth of these countries. |
| Keywords: | F.D.I., developing countries, Peru, Uzbekistan, Latin America, Central Asia |
| JEL: | F21 O16 O18 R11 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:63849&r=cwa |
| By: | Libman, Alexander |
| Abstract: | This note reviews the implications of the political crisis around Ukraine and of the economic crisis in Russia on the development of Eurasian regionalism and, in particular, the future of the Eurasian Economic Union. It identifies the key effects of the crises, as well as discusses alternative ways of future development of the Eurasian Economic Union and assesses their likelihood. |
| Keywords: | Eurasian regionalism; economic crisis in Russia; crisis around Ukraine |
| JEL: | F15 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:63861&r=cwa |