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on Central and Western Asia |
| By: | Mahdi Majbouri (Babson College) |
| Abstract: | Despite the rapid rise of women’s education and the fall of their fertility rates in Iran, female labor force participation remains low. This paper uses twins at first birth as an instrumental variable to estimate the impact of number of children on mothers’ participation in the labor market in Iran. It finds that every additional child reduces participation of mothers in urban areas by about 2 percentage points. No effect is found in rural areas. Implications are discussed. |
| Date: | 2016–01–09 |
| URL: | http://d.repec.org/n?u=RePEc:erg:wpaper:1046&r=cwa |
| By: | Elif Öznur Acar (Cankaya University); Seyit Mümin Cilasun; Burak Günalp |
| Abstract: | Using Turkish Household Budget Surveys from 2003, 2007 and 2012, this paper investigates the determinants of household education expenditures within an Engel curve framework. In particular, we estimate Tobit regressions of real educational expenditures by income groups using a number of household characteristics (i.e. rural residence, employment status, age, educational attainment of the household head, household size, share of female students and primary school students in the household, and total number of students in the household) to examine if and to what extent the determinants of educational expenditures differ by income groups; income elasticities of educational spending evolves over time; and children from middle-class and poor families can benefit enough from educational opportunities. The estimated expenditure elasticities have lower values for the top- and the bottom-income quartiles while they have larger values for the middle-income quartiles. The results also show that for all income groups the expenditure elasticity of education increases over time, indicating that Turkish households allocates greater share of their budgets to education expenditures |
| Date: | 2016–04 |
| URL: | http://d.repec.org/n?u=RePEc:erg:wpaper:991&r=cwa |
| By: | Shahbaz, Muhammad; Bhattacharya, Mita; Mahalik, Mantu Kumar |
| Abstract: | Kazakhstan gained independence in 1990 and has undergone significant changes in economic, social and trade conditions since then. We analyse the effects of financial development on income inequality in Kazakhstan, incorporating economic growth, foreign investment, education and the role of democracy as the drivers. We establish that income inequality in Kazakhstan is impaired by financial development. In summary, we send the three messages for policy purposes. First, strengthening financial sector is necessary to close the gap between ‘haves and have-nots’. Second, attracting foreign direct investment beyond the hydrocarbon sector is necessary to alleviate inequality. Finally, adaptation of education system to the new social and economic environment would help in improving income distribution. |
| Keywords: | Kazakhstan, Finance, Inequality, Central Asia |
| JEL: | C3 |
| Date: | 2017–03–03 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:77438&r=cwa |
| By: | Gohar Samvel Sedrakyan (Department of Economics, International Center for Public Policy. Andrew Young School of Policy Studies, Georgia State University); Laura Varela-Candamio (Dpt. Economic Analysis and Business Administration, University of A Coruna. Jean Monnet Group on Competition and Development (C+D) and RIFDE) |
| Abstract: | There is considerable controversy in the economic literature concerning whether particular government expenditures have an impact on economic growth. This study analyzes the macroeconomic magnitude of government expenditures in Armenia and Spain and evaluates whether there exists a causal relationship between government expenditures and economic growth and vice versa (Keynesian hypothesis and Wagner’s Law). The study employs VAR tests to analyze annual data for the years 1996-2014. Furthermore, by utilizing Granger causality tests, the study reveals whether the government expenditures are a significant factor in economic growth in short-term perspective. Finally, IRF and FEVD tests are applied to estimate the effect of a change in particular government expenditures on GDP for twelve year time horizon. This study validates the hypothesis that some public expenditures by the Armenian and Spanish public sectors positively contribute to the growth of their economies, while social protection is negatively related to GDP. |
| Date: | 2017–02 |
| URL: | http://d.repec.org/n?u=RePEc:ays:ispwps:paper1702&r=cwa |
| By: | Küçükaltan, Ebru Günlü; Pirnar, Ige |
| Abstract: | This research investigates whether tourism development related destination competitiveness have any direct effect on the quality of life of the residents. To reflect the developments in a destination, one of the best known recent trends that stimulates destination competitiveness and directly relates to an increase in the quality of life of the residents, “Cittaslow”, is preferred as a case study. Therefore, the developments in Seferihisar, the first Cittaslow of Turkey, are emphasized based on Enea and Tanasoiu (2009)’s research which proposes the effects of tourism development and quality of life. Qualitative research is adapted where the techniques are prefered as case study and documentation. The originality of the paper results from the construction of the theory on a live sample that captures the practical evidences. |
| Keywords: | Destination competitiveness, quality of life, competitiveness index, Cittaslow, Seferihisar |
| JEL: | L83 M1 O1 |
| Date: | 2016–02–17 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:77464&r=cwa |
| By: | Ali T. Akarca; Aysit Tansel (Middle East Technical University) |
| Abstract: | Antalya and Mugla provinces located in southwestern Turkey have emerged as new magnets for internal migration in the country. Socio-economic, demographic and labor market characteristics of immigrants coming to these two provinces from various regions are studied to uncover the reasons fueling their moves. This is accomplished through an analysis of descriptive statistics, and an analysis of a gravity model estimated. Differences and similarities between immigrants coming to these two provinces and those going to other migrant magnets, between immigrants and natives in Antalya and Mugla, and among immigrants coming to the two provinces from various origins are noted. What distinguishes Antalya and Mugla from other migrant-drawing provinces is that they attract some retirees and university students as well and their immigrants participating in the labor force are attracted mainly by jobs created in the sectors related to tourism, either directly or indirectly, rather than industry. Immigrants from different origins exhibit different characteristics and tend to specialize in different types of jobs. However, as other migrant flows, those directed at Antalya and Mugla are affected by distance adversely and by unemployment differential, past migration and population size at origin, favorably. |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:erg:wpaper:997&r=cwa |
| By: | Elem Eyrice, Tepeciklioğlu; M. Evren, Tok; Syed Abul, Basher |
| Abstract: | This paper studies the political economy of Turkey’s relations with Sub-Saharan Africa (SSA) since 2002 while under the Justice and Development Party’s (AKP) rule. It argues that Turkey has focused its engagement in Africa mostly on humanitarian assistance and the economy. Contextualizing Turkey’s relations with SSA vis-à-vis other emerging market economies, especially the BRICS (Brazil/Russia/India/China/South Africa) bloc, provides ample insights into the nature of Turkey’s engagement in SSA. While Turkey’s involvement has some similarities to that of the BRICS, there are greater fundamental and structural differences from how the BRICS established their presence in SSA. These differences mostly find resonance in when we juxtapose the activism of non-governmental actors engaging in humanitarian missions and charity work with trade related economic investments and activism. |
| Keywords: | Turkey; Sub-Saharan Africa; political economy; BRICS; trade; humanitarian assistance |
| JEL: | F50 N77 |
| Date: | 2017–03–15 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:77549&r=cwa |
| By: | International Monetary Fund. |
| Abstract: | The fundamental stability challenges confronting the Turkish financial system are to reduce dependence on external and foreign currency financing and to increase the maturity and diversity of funding instruments on which banks and firms depend. The long-standing shortfall of national savings to finance domestic investment, persistent elevated inflation, and bouts of exchange rate volatility have boosted reliance on foreign currency financing from international capital markets and have also incentivized households and firms to place their own savings in short-term deposits, as well as in foreign currency. |
| Keywords: | Financial system stability assessment;Financial sector;Banks;Credit risk;Stress testing;Bank supervision;Liquidity management;Corporate sector;Financial safety nets;Basel Core Principles;Insurance supervision;Payment systems;Reports on the Observance of Standards and Codes;Turkey; |
| Date: | 2017–02–03 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:17/35&r=cwa |
| By: | International Monetary Fund. |
| Abstract: | Turkey: Selected Issues |
| Keywords: | Pensions;Labor markets;Pension reforms;Housing;Housing prices;Tourism;Selected Issues Papers;Turkey; |
| Date: | 2017–02–03 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:17/33&r=cwa |
| By: | International Monetary Fund. |
| Abstract: | This assessment of the current state of observance of the International Association of Insurance Supervisors (IAIS) Insurance Core Principles in Turkey has been completed as a part of a Financial Sector Assessment Program (FSAP) undertaken by the International Monetary Fund and World Bank during 2016. It reflects the regulatory and supervisory framework in place as of the date of the completion of the assessment. |
| Keywords: | Financial Sector Assessment Program;Insurance;Insurance supervision;Insurance regulations;Reports on the Observance of Standards and Codes;Turkey; |
| Date: | 2017–02–08 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:17/47&r=cwa |
| By: | International Monetary Fund. |
| Abstract: | This assessment of the current state of implementation of the Basel Core Principles for Effective Banking Supervision (BCPs) in Turkey has been completed as a part of a Financial Sector Assessment Program (FSAP) undertaken by the International Monetary Fund (IMF) and the World Bank during 2016. It reflects the regulatory and supervisory framework in place as of the date of the completion of the assessment. It is not intended to represent an analysis of the state of the banking sector or the crisis management framework, which have been addressed in the broad exercise. |
| Keywords: | Financial Sector Assessment Program;Basel Core Principles;Banking sector;Bank supervision;Bank regulations;Stress testing;Reports on the Observance of Standards and Codes;Turkey; |
| Date: | 2017–02–08 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:17/46&r=cwa |
| By: | International Monetary Fund. |
| Abstract: | Islamic Republic of Iran: Selected Issues |
| Keywords: | Fiscal reforms;Monetary policy;Fiscal policy;Taxation;Tax incentives;Tax system reviews;Banking;Banks;Sanctions;Selected Issues Papers;Iran, Islamic Republic of; |
| Date: | 2017–02–27 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:17/63&r=cwa |
| By: | International Monetary Fund. |
| Abstract: | This assessment of the current state of observance of the Committee on Payments and Markets Infrastructure – International Organization of Securities Commissions (CPMI-IOSCO) Principles for Financial Market Infrastructure in Turkey has been completed as part of a Financial Sector Assessment Program (FSAP) undertaken by the International Monetary Fund and World Bank during 2016. It reflects the regulatory and supervisory framework in place as of the date of the completion of the assessment. |
| Keywords: | Financial Sector Assessment Program;Payment systems;Capital markets;Securities markets;Securities regulations;Reports on the Observance of Standards and Codes;Turkey; |
| Date: | 2017–02–08 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:17/45&r=cwa |
| By: | International Monetary Fund. |
| Abstract: | The lifting of nuclear sanctions under the Joint Comprehensive Plan of Action (JCPOA) has spurred growth, but banking system weaknesses, structural bottlenecks, and hesitation by foreign banks to re-establish financial links have held back expansion of non-oil activity. |
| Keywords: | Article IV consultation reports;Economic recovery;Economic growth;Fiscal policy;Fiscal reforms;Monetary policy;Inflation;Bank reforms;Multiple currency practices;Economic indicators;Debt sustainability analysis;Staff Reports;Press releases;Iran, Islamic Republic of; |
| Date: | 2017–02–27 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:17/62&r=cwa |
| By: | International Monetary Fund. |
| Abstract: | After robust growth through Q1 2016, the expansion has slowed. Growth is projected at 2.7 percent in 2016 and 2.9 percent in 2017 with considerable downward risks. Domestic consumption is the main growth driver, supported by a large increase in public expenditure and a hike in the minimum wage. However, political uncertainty, weakened corporate profitability, anemic credit growth, and a sharp fall in tourism have taken a toll on investment and net exports. The monetary stance and macro prudential measures were loosened, but credit growth continues to slow. A negative output gap is opening, but sticky expectations are keeping inflation above target. External imbalances persist: the current account deficit remains large and the NIIP is projected to become more negative. External financing conditions were favorable in the first semester, helping the rollover of large financing needs and supporting the Lira. However, political uncertainty after the failed coup attempt and a less favorable external environment are weakening the Lira and increasing the cost of external financing. |
| Keywords: | Article IV consultation reports;Political economy;Economic conditions;Fiscal risk;Fiscal policy;Fiscal reforms;Monetary policy;Reserves accumulation;Bank supervision;Economic indicators;Balance of payments statistics;Debt sustainability analysis;Staff Reports;Press releases;Turkey; |
| Date: | 2017–02–03 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:17/32&r=cwa |