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on Central and Western Asia |
| By: | Aydemir, Abdurrahman (Sabanci University); Yazici, Hakki (Sabanci University) |
| Abstract: | This paper provides two contributions to the study of intergenerational mobility. First, we render a thorough characterization of education mobility in Turkey at the national level, including a three-generation mobility analysis. We find that the education mobility is significantly lower in Turkey compared to developed economies. Second, by exploiting large regional variation in the level of economic development across Turkey, we find that intergenerational education persistence is lower for females who grow up in more developed regions. The evidence is mixed for males. Interestingly, the development level of place of residence during earlier stages of childhood has much stronger association with education mobility compared to development level of place of residence during later stages. |
| Keywords: | intergenerational mobility, education, economic development, three generations |
| JEL: | J6 I2 R0 |
| Date: | 2017–11 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp11164&r=cwa |
| By: | HALICIOGLU, Ferda; EREN, Kasim |
| Abstract: | This paper provides further evidence on the validity of twin deficits and the Feldstein-Horioka hypotheses for Turkey during the period of 1987-2004 using bounds testing approach to cointegration. In order to explain the main determinants of the current account deficits in the long-run, the fiscal balance and the domestic investments are used in an econometric model.The cointegration tests indicate the presence of a long-run relationship between the current account and budget deficits as well as the domestic investments during the estimation period. As a result, it is concluded that the twin deficits hypothesis and the Feldstein-Horioka puzzle are present and Turkey appeared to be integrated into the world capital market with a low degree of capital mobility as less than 1/5 of its domestic investment is financed through external funds. The augmented Granger-causality tests suggest no causality between the current account and budget deficits, both in the short-run and the long-run. The post-sample variance decompositions suggest that the domestic investments are the main cause of current deficits in the long-run. The paper also discusses the policy implications of the empirical results. |
| Keywords: | Twin deficits, Feldstein-Horioka hypothesis, cointegration, Turkey |
| JEL: | C22 F32 F36 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:83529&r=cwa |