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on Central and Western Asia |
| By: | Evren Ceritoglu |
| Abstract: | This paper tests the empirical validity of consumption risk-sharing hypothesis across urban and rural regions in Turkey. For this purpose, I analyze twelve consecutive waves of the TURKSTAT Household Budget Surveys from 2003 to 2014 and prepare a pseudo-panel data set for birth-year cohorts following Deaton (1985). There are three important findings of this paper. First, our empirical analysis shows that there is imperfect consumption risk-sharing between birth-year cohorts in Turkey. We observe that the growth of cohort consumption is positively and significantly associated with both the growth of cohort income and the growth of aggregate consumption. Second, the need for risk-sharing is analyzed using the variance of the growth of cohort consumption as a proxy variable for future labor income uncertainty. Empirical findings reveal that urban households and mature working-age households are more sensitive to future labor income uncertainty. Finally, cohorts would have sacrificed modest amounts to insure their consumption. |
| Keywords: | Consumption risk-sharing, Income and consumption smoothing, Cohort, Pseudo-panel |
| JEL: | C23 D11 D12 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:tcb:wpaper:1701&r=cwa |
| By: | Berk, Istemi (Dokuz Eylul University, Iszmir, Turkey); Schulte, Simon (Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)) |
| Abstract: | This paper analyses the possible future role that Turkey can play in European natural gas markets. We employ a global gas market simulation model, COLUMBUS, to assess the outcomes of different scenarios concerning natural gas supply routes to Europe through Turkey up to 2030. The results imply simply that under current conditions, i.e., a more competitive environment in European gas markets leading to low gas prices, Turkey’s role would be of only minor importance. In accordance with various scenarios presented in this study, Turkey’s role is seen at its most important when European demand increases and Russia exerts power in the European markets. |
| Keywords: | COLUMBUS; European Gas Supply; Turkey; Scenario Analyses |
| JEL: | C68 L13 Q31 |
| Date: | 2017–01–06 |
| URL: | http://d.repec.org/n?u=RePEc:ris:ewikln:2017_001&r=cwa |
| By: | Simone Tagliapietra (Fondazione Eni Enrico Mattei) |
| Abstract: | This paper explores how Turkey’s politics and economy are affected by changes in global energy. To define which are the most relevant developments, the paper opens with an overview of the country's economic landscape. This analysis illustrates that energy, being the key driver behind its large current account deficit, represents a major point of vulnerability for the country. On this basis, the paper illustrates Turkey's energy matrix, an analysis that outlines the rising role of gas in the country's energy sector, both under the internal (i.e. growing share of the mix) and external (i.e. the country's potential role as regional gas hub) points of view. Finally, these issues are discussed with the aim of assessing the prospects for Turkey to turn gas into a geopolitical and economic asset for the country. |
| Keywords: | Turkey, Energy Security, Gas, TANAP, TAP, TurkStream |
| JEL: | Q40 Q42 Q48 |
| Date: | 2016–12 |
| URL: | http://d.repec.org/n?u=RePEc:fem:femwpa:2016.78&r=cwa |
| By: | Bakari, Sayef; MABROUKI, Mohamed |
| Abstract: | This paper studies the nexus between exports, imports, and economic growth in Turkey. Annual data for the periods between 1960 and 2015 was tested by practicing Johansen co-integration analysis of Vector Auto Regression Model and the Granger-Causality tests. According to the result of the analysis, there is no relationship between exports, imports and economic growth in Turkey. On the other hand, we found that there is a strong evidence of bidirectional causality from imports to economic growth and from exports to economic growth. |
| Keywords: | Export, Import, Economic Growth, Turkey, Cointegration, VAR and Causality. |
| JEL: | F1 F14 |
| Date: | 2016–12–20 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:76044&r=cwa |
| By: | Shakhnoza Ganisherovna Akramova |
| Abstract: | This article investigates the channels through which human capital development could stimulate economic development in case of demographic transition. The ways of the efficient use of the demographic situation for the effective functioning of the human capital have been proposed. Key words: human capital; economic growth; age structure; demographic trends; fertility rate; life expectancy. Policy |
| Date: | 2016–09 |
| URL: | http://d.repec.org/n?u=RePEc:vor:issues:2016-09-11&r=cwa |
| By: | Shadiyeva Dildora |
| Abstract: | Innovations are considered as factor of economic growth not only of individual enterprises, but also a national economy as a whole. That is why countries have a great focus on financial supporting and promoting innovations. Insufficient support of innovations causes low return on scientific research and less economic effect from Research and Development (R&D). Therefore funding is indispensable condition to create new products by innovative ideas. The present study focuses on studying the features of innovative activity funding in the current global scenario, identifying the world leaders and trends in innovative activity funding. Uzbekistan’s experience in this area was selected for the empirical study. By analyzing the main source of funds and the factors which promote development of innovative activity was identified impact of some factors on change in scientific and technical output. Key words: innovations, innovative activity, R&D, sources of funding, Gross Domestic Expenditure on R&D. Policy |
| Date: | 2016–09 |
| URL: | http://d.repec.org/n?u=RePEc:vor:issues:2016-09-12&r=cwa |
| By: | Ismailov Dilshod Anvarjonovich |
| Abstract: | The given article highlights the expansion issues of investment attraction in remote provinces and its betterment in ratable branch. As well as the recommendations and scientific propositions on shaping the financial management strategy of investment activities in the remote provinces are given. There exist recommendations on financing the perspective forthcoming investment projects, too. Key words: Investment, investment financing, management of finance, investment-financing sources, management investment, financing mechanisms, financial planning. Policy |
| Date: | 2016–12 |
| URL: | http://d.repec.org/n?u=RePEc:vor:issues:2016-12-12&r=cwa |
| By: | Sherzod Hamdamov |
| Abstract: | Uzbekistan, country which is situated in Central Asia, is characterised with huge amount of agricultural resources. It is a leading economy of exporting agricultural products to CIS countries, especially Russia and Kazakhstan. Government of Uzbekistan has been supporting development of entrepreneurship in the sphere of agriculture, one of the successful results of which is presence of specialized farms almost in each region of country. At present, the main task for specialized farms is to provide both domestic and foreign markets with qualified agricultural products. In the conditions of competition and free market relations, farms need to have and use appropriate strategies, especially marketing strategies for gaining good positions in domestic and foreign markets. This article explains how specialized farms to succeed on gaining competitive positions in markets through developing and implementing effective marketing strategies. Key words: marketing, marketing activity of farms, agricultural enterprises, specialized farms, product sales markets, market conquest. Policy |
| Date: | 2016–12 |
| URL: | http://d.repec.org/n?u=RePEc:vor:issues:2016-12-11&r=cwa |