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on Central and Western Asia |
| By: | LEILA KADAGISHVILI (Ivane Javakhishvili Tbilisi State University) |
| Abstract: | The present paper studies the transit potential of Georgia and developing perspectives. It’s noted, that strengthening of transit energy corridor is of great importance for Georgia due to its strategically important geographical location. Thanks to its transit and energy corridors, Georgia gained the status of the country that supports balancing of economic interests between European and Asian countries. Favorability of the country’s geographical location has been proved and increased since the establishment of Baku-Supsa and Baku-Tbilisi-Ceyhan pipelines. Besides these two geo-economically strategic pipelines of international importance, there are two exceptionally important gas pipelines running through the territory of Georgia: the North-South or Shah Deniz and the Baku-Tbilisi-Erzurum pipelines. Strategically important Georgian ports and terminals such as Batumi, Poti and Kulevi have direct connections with railway lines of Azerbaijan, Ukraine, Russia and Bulgaria. Development of port infrastructure is one of the priorities for Georgia. For this purpose, construction of deep-water port in Anaklia is of special importance. The government of Georgia has already called for investors to express interest in this project. Full utilization of its transit capacity will be beneficial for Georgia both from political and economic point of view. Due to its geopolitical location, Georgia turned out to be in the area of strategic interests of the US, EU, Russia, Turkey, Iran and China. As a result, developed countries have begun to actively cooperate with Georgia with the purpose of utilization of their predominant geopolitical and economic importance. Georgia is developing multilateral relations directed to global integration and the transit potential is one of the main preconditions of achieving competitiveness in these processes. The country has good opportunities for economic prosperity and rapid growth. The main task in this regard is to avoid threats by careful maneuvering and suggest mutually beneficial economic projects based on equal partnership to the international community. All this makes it possible to introduce economic, social, political, legal and other kinds of achievements of the West adapted with national values in Georgia. The paper concludes that due to its strategically important location Georgia is given an opportunity to become actively involved in global integration processes and use the benefit gained from these processes to ensure high rates of economic growth and increase in the competitiveness of the country. |
| Keywords: | geoeconomics, geopolitics, transit potential, integration, competitiveness. |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:3606253&r=cwa |
| By: | Ä°skender Peker (GümüÅŸhane University); Tarhan Okan (GümüÅŸhane University); Emine Yılmaz (Osmaniye Korkut Ata University); Åžerife Demirelli (GümüÅŸhane University) |
| Abstract: | In emerging countries like Turkey, where state-dependent characteristics of business system is dominant, the corporate governance principles are expected to be internalized in a larger scale through the political regulative pressures. Also, business groups, that are unrelated-diversified and highly controlled by the owning family members, are the dominating economic actors in many late-developing countries. In Turkey, Capital Markets Board enacted provisions regarding the structure of board of directors under the Communique of Principles Regarding Determination and Application of Corporate Governance Principles published on 30.12.2011. Based on this policy reform, this study aims at analyzing the relationship between firm performance and board structures of business groups and revealing the fact that whether the new policy leads to the outcomes expected. The population of the study consists of the whole business groups registered in Borsa Istanbul (the sole entity of exchange in Turkey). The analyses are conducted in two stages. First, using the Grey Relational Analysis, grey relational grade is obtained from the financial outputs (ROA, ROE, and ROS) of the years 2010-2014. Then, Data Envelopment Analysis-Total Factor Productivity (TFP) is used to obtain efficiency comparisons of the business groups according to their inputs (board size, women board members, independent board members, executive board members) and grey relational grade. The results show that following the policy enactment the efficiency rates are improved in parallel to their improved managerial efficiency. The study results give insight into the embracement of corporate governance principles and future discussions on principle-agent problems in developing countries. |
| Keywords: | corporate governance, board structure, grey relational analysis, data envelopment |
| JEL: | M10 G14 G34 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:3606206&r=cwa |
| By: | Mustafa Göktuğ Kaya (Tax Inspectors Association); Perihan Hazel Kaya (Selcuk University) |
| Abstract: | The country, where the individuals and institutions benefit from public services paying less taxes outside the country, is called tax haven countries.These countries is used as part of economic activities and they are preferred as the center of financial affairs so the phenomenon of interstate competition become a current issue. International tax competition is a tax policy which implementing that economic activity that occurred in another country to take his own country putting a lower tax rate.When taken out the country known as a tax haven it is said that this countries are too small and some of them’ name and location in the map are unknown.The purpose of the study is to find out the relationship between of tax competition and tax haven in the World and Turkey. In this direction, firstly on the conceptual framework tax competition and tax havens issues will be discussed. Secondly, the effects of the relationship between tax competition and tax havens on fiscal policy will be examined. Finally, studies conducted on the fight against tax competition and tax havens in the World and Turkey will be examined. |
| Keywords: | Tax Competition, Tax Haven, Fiscal Policy, Turkey, Tax Haven Countries |
| JEL: | B22 E00 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:3606097&r=cwa |
| By: | Cemile Burcu Kartal (Ataturk University); Ezgi Oren (Ataturk University) |
| Abstract: | World War I became a milestone in the decay of empires and in the transition to the form of nation-state all over the world. Also, the national identities had been emerged and shaped in this period, before and after of the War. Contemporaneously, the years in between 1912 and 1922, constructing Turkish identitiy and nationalim provided the important components to the founding of the Republic in Turkey. Especially, 1919-1922 period was important in terms of this arising national movement, because of the era which was beginnig the transition from the empire to the nation-state with the accession of the whole society in a national struggle. Therewith, Treaty of Sevres and Mondros Armistice Agreement were considerable factors in acceleration of the struggle in Anatolia. Besides, local press had a curicial role in the occupied territories throughout the stage. And the Journal Of Albayrak which came out in Erzurum was one of the foremost media vehicle in the period of national struggle in the east of country. So, Albayrak had been published during two terms: 1913-1915 and 1919-1921. Why the journal resumed; firstly, allies’ occupation began along the Anatolia territories after the signing of Mondros Armistice Agreement and there was a prevalent apprehension about giving up the east provinces to the Armenians. This fears derived from the 24th article of the Agreement which intitled occupation to allies anywhere of the six east province (Vilayet-i Sitte) those were named as Erzurum, Bitlis, Van, Diyarbakır, Sivas and Elazığ (Ma’muretil’aziz) in any disordering situation. Herewith, Albayrak stated that it would be make contribution to the point of informing the community and raising consciousness about the reasons of Armenian problem and its forthcoming dangers. This journal, also, gave information and news concerning Kurdish issue that arised in this period. In this respect, this paper analyses that how a journal which was one of the most important example of the local press in the region was utilized as an important propaganda material and what kind of rethoric it generated about both Kurdish and Armenian issues. Herewith, an additional purpose is to examine a media source which was not handled before by the means of Kurdish and Armenian questions and in this way to try to make any contribution to the related discussions today. |
| Keywords: | Ethnic Conflict, Media, National Identity, Nationalism, War |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:3606336&r=cwa |
| By: | AYBEN KOY (ISTANBUL COMMERCE UNIVERSITY); Ä°HSAN ERSAN (ISTANBUL UNIVERSITY) |
| Abstract: | This paper examines the linkages between the foreign exchange rates, spot equity index and equity index futures. The study aims to investigate whether there is difference between the spot and futures markets in the scope of relation with the foreign exchange rates’ returns and which leads the other. The relationships are examined by using the vector autoregression (VAR) model, impulse-response functions, variance decomposition and Granger Causality tests. The sample of the study consists of US dollar to Turkish Lira rate (USD/TRY), Euro to Turkish Lira rate (EUR/TRY), BIST 30 Index and BIST 30 Index Futures. The data of the study includes the period between January 2011 and December 2014 with daily data range. Our results have evidence that the foreign exchange rate markets in Turkey are driven by the equity market. |
| Keywords: | Exchange Rates, Equity Index, Equity Index Futures, Causality |
| JEL: | G15 G10 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:3605506&r=cwa |
| By: | fatih ayhan (University of Selcuk) |
| Abstract: | In this research, the relationship between real exchange rate volatility and foreign direct investment (FDI) is examined in theoretically and empirically by covering 1998Q1-2015Q4 period for Turkey. In the empirical modelling, FDI is explained with economic growth, exchange volatility and trade openness parallel with the existing literature. Moreover exchange rate volatility variable is computed by employing GARCH type model. The Bound Test approach which is proposed by Peseran et al. (2001) is employed in order to investigate the cointegration relationship between the variables. After we found cointegration, we analysed long and short term coefficients by using ARDL model. According to model’s results, growth and openness has positive and statistically significant effect on FDI, while volatility has negative effect on FDI as expected. However coefficient of volatility is statistically insignificant on FDI. Because of volatility coefficient is not statistically significiant, we can conclude that foreign investors take into consideration sustainable growth and openness for investing in Turkey instead of exchange rate volatility. |
| Keywords: | Exchange Rate Volatility, Domestic Investment, ARDL Model |
| JEL: | E44 F31 F21 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:3606278&r=cwa |
| By: | Mohammad Alizadeh Jamal (Emam Mohammad Bagher Branch, Farhangian University, Bojnord, Iran); Habib Safarzadeh (Emam Mohammad Bagher Branch, Farhangian University, Bojnord, Iran); seyed Jalal Langari (Emam Mohammad Bagher Branch, Farhangian University, Bojnord, Iran); Mouna bibi Langari (Emam Mohammad Bagher Branch, Farhangian University, Bojnord, Iran) |
| Abstract: | Objectives of education systems of various societies will face new challenges through the path leads them into new and variable situation of new industrial technologies of the third millennium in which philosophical, scientific, cultural, social and economic foundations of societies will experience deep developments. The education system can play a key role to adapt societies to the new situation. The education system should pave the way for developing certain features such as independence-seeking, risk-taking, innovation, self-esteem and foresight in students through proposing proper training programs. Based on promoting entrepreneurial thinking, the education system can provide a condition in which the educated may act as producers instead of job seekers and may start businesses not only for themselves, but also for others. Thus, this study tries to analyze the position of entrepreneurial thinking in Iran's education system using examining the entrepreneurial features of students. To do so, a number of 335 students (third grade of high school) were selected through stratified random sampling based on discipline and gender. Then a questionnaire was used to collect and analyze the required data. The results gained from analysis of data imply that the educational programs of Iran's education system have failed to provide a proper condition to improve the entrepreneurial features of students. The results of the analysis of the variance, used to compare the performance of training programs in different schools, indicate that there was no difference among various schools in improving entrepreneurial spirit for students. There was no significant difference between students of various schools in terms of having entrepreneurial spirit, as well. Likewise T-test, used to compare the entrepreneurial spirit of girl and boy students in average, showed that there is no significant relationship between gender and entrepreneurial spirit. |
| Keywords: | Education System, Entrepreneurial Spirit, Students, Schools |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:3605768&r=cwa |
| By: | Ayten Akatay (Çanakkale Onsekiz Mart University); Serkan Özdemir (Çanakkale Onsekiz Mart University); Abdullah Kıray (Çanakkale Onsekiz Mart University) |
| Abstract: | Non-Governmental Organizations (NGOs) are aware of the potential that internet provides them to reach out to their stakeholders and they are trying to make use of this potential. Most of the literature concerning NGOs and their social media activities shows that NGOs are having a hard time adapting to social media and they are not making full use of the potential that social media offers them (Waters, Burnett, Lamm and Lucas 2009, p. 105; Bortree and Seltzer, 2009, p. 318; Lovejoy, Waters and Saxton, 2009, p. 313; Waters and Jamal, 2011, p. 323; Muralidharan, Rasmussen, Patterson and Shin, 2011, p. 177; Miller, 2011, p. 46).The purpose of this study is to examine the social media activities of the NGOs located in the City of Çanakkale in Turkey. Data were collected through interviews with people in key positions in the NGOs and also content of social media pages of NGOs were analyzed. Facebook and Twitter are selected as social media websites examined in the study, since they are well-known and widely used sites. The goals of and expectations from NGOs’ social media usage are questioned in interviews. The study also tries to determine whether NGOs are using different social media websites for different aims and in which way they are using them. Additionally the study explores with whom they interact on social media, how are they choosing to interact and how efficiently the NGOs are using the feedback they get. The challenges and shortcomings regarding NGOs’ social media usage are explored as well. At the end, findings of the study are discussed, and recommendation for practitioners and possible future research implications are presented. |
| Keywords: | Non-Governmental Organizations, Social Media, Communication |
| JEL: | M00 M10 M19 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:3606244&r=cwa |
| By: | AHU ERGEN (BAHCESEHIR UNIVERSITY) |
| Abstract: | Being healthy is an important aspect in life satisfaction. The factors that effect the health status of an individual are named as the environmental factors, economical factors, socio-cultural factors, genetic factors, access to health services and life style. Since it can be controlled by the individual, lifestyle is a topic with great importance. Healthy lifestyle is defined as “the individual’s control over her/his behaviors which can affect her/his health status and while orginising the daily activities, choosing the behaviors that are appropriate to her/his health status†. Healthy lifestyle behaviors are healthy nutrition, stress management, regular exercise, spiritual wellbeing, high quality interpersonal relations and taking the health responsibility. So, understanding the healthy lifestyle level and life satisfaction of individuals is important for health and education institutions, companies and governments to define their strategies accordingly. This quantitative study involves 205 Turkish individuals (students, academic staff and administrative staff) from a university in Istanbul. Data were obtained from self-administered questionnaires with 26 questions. The study examines the characteristics of the respondents regarding demographics, healthy lifestyle behaviors and life satisfaction. Some differences in sample’s healthy lifestyle dimensions were determined according to demographic variables after factor analysis, T-test, ANOVA and regression analysis. This research presents the opportunity for further qualitative research in healthy lifestyle habits among university students. |
| Keywords: | healthy lifestyle, life satisfaction, health status |
| JEL: | I31 I00 I19 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:3605885&r=cwa |
| By: | Nasre Esfahani, Mohammad; Rasoulinezhad, Ehsan |
| Abstract: | Exploring the short-run and long-run relationships between consumption of various sources of non-renewable energy, economic growth and carbon dioxide(CO2) emissions would be considered as a golden key to provide rational energy policies of Iran in the post sanctions era. The aim of this paper is to find these mentioned relationships by using the Johanesen cointegration approach, the VECM Granger causality test, Generalized impulse responses functions and variance decomposition in Iran for the period 1966-2013. The findings support evidence for the existence of long-run linkage between non-renewable energy consumption, economic growth and CO2 emissions. The short-run relationship examination proves the causality running from non-renewable energy consumption to economic growth in Iran. The variance decomposition highlights that economic growth changes are explained more by gas consumption than by consumption of other non-renewable energy resources. Furthermore the contribution to CO2 emissions is mainly from oil consumption. The study recommends some new policy insights for Iran in order to reach a higher economic growth by non-renewable energy resources, while lower carbon dioxide emissions. |
| Keywords: | Economic growth; CO2 emissions; Energy consumption; Iran. |
| JEL: | Q30 Q43 |
| Date: | 2016–03 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:71124&r=cwa |
| By: | International Monetary Fund. European Dept. |
| Abstract: | Selected Issue |
| Date: | 2016–04–22 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:16/105&r=cwa |
| By: | Egemen Ä°pek (GümüÅŸhane University); Ozlem Sekmen (Gumushane University) |
| Abstract: | Since 2000 in Turkey, there has been a great growth the share of the household savings in private savings. Although there are exist huge literature related to determinants of saving rate rely on macro level data, these studies have limitation on reflect of household saving behavior because of ommiting heterogenities among households. For this reason, determining the effect of heterogenity of households on saving behaviour has great importance for representing main factors behind on households’ saving behaviour.The main purpose of this study is to investigate the demographic determinants of household savings and examine the effect of these differences on saving rates in Turkey the period between 2003-2012 using Household Budget Surveys (HBS) providing by TURKSTAT. In this context, the research methodology consist of two-stage (i) modeling and analysis the determinants of savings using OLS method, (ii) examining the year effects via pooled OLS which allows to control for heteroscedasticity. According the findings revealed that method, demographics differences such as householder’s age , gender and education level, household size have notable role for explaining saving behavior of households. |
| Keywords: | Household savings, Demographics, Heterogenity, Turkey |
| JEL: | D14 J10 C50 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:3606133&r=cwa |