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Öğe A literature survey on extensive and intensive margins in international trade(IGI Global, 2022) Berke, BurcuProducts and firms are homogeneous in traditional foreign trade theories; products show no horizontal or vertical differentiation. It is observed that growth in exports is only related to an increase in export quantity and that this is not decomposed into margins. Since Melitz's work, there has been an increase in studies that decompose the firms' heterogeneity and export growth in foreign trade into extensive and intensive margins. The concepts are addressed in the literature known as "new-new" foreign trade theories which include extensive margins, the number of exporting firms, the number of new trade partners, and the volume or variety of exported products. In brief, the growth of global trade is the result of new trade relations (extensive margin) or a rise in existing trade relations (intensive margin). As one of the rapidly developing trade theories in international economics, the main purpose of this study is to conduct a literature survey on the extensive and intensive margins of export growth. © 2023 by IGI Global. All rights reserved.Öğe AVRO BÖLGESİ’NDE TURİZM SEKTÖRÜ GELİR DAĞILIMINI ETKİLİYOR MU?(2022) Kışla, Gül Huyugüzel; Berke, BurcuBu çalışmanın temel amacı avro bölgesi için 2002-2016 döneminde turizmin gelir eşitsizliğine olan etkilerini panel veri analizi üzerinden ortaya koymaktır. Gelir eşitsizliği ve büyüme ilişkisine yönelik ilk çalışma Kuznets (1955)’e aittir. Düşük gelirli ülkelerde ekonomik büyümenin arttığı ilk dönemlerde kişi başına gelir arttıkça gelir eşitsizliği de artarken büyümenin artmaya devam ettiği ilerleyen aşamalarda ise işgücü kırdan kente doğru göç ettiğinde (veya kentleşme oranı arttığında) bu eşitsizlik azalmaktadır. Literatürde “geleneksel Kuznets eğrisi”nin varlığı yaygın olarak tartışılırken, turizm sektöründeki gelişmelerin gelir eşitsizliğine etkilerinin daha az araştırıldığı görülmektedir. Bu çalışmada avro bölgesi için turizm sektörü odaklı bir analiz yapılmakta ve çalışmanın sonuçları ise diğer kontrol değişkenlerinin (büyüme, dışa açıklık veya küreselleşme, kentleşme oranı, doğrudan yabancı yatırımlar ve işgücü) etkileri dikkate alındıktan sonra turizm sektöründeki gelişmelerin gelir eşitsizliğini azalttığını göstermektedir.Öğe Convergence of Electricity Consumption in Turkey: Spatial Panel Data Analysis(Savez Ekonomista Vojvodine, 2020) Akarsu, Gusum; Berke, BurcuThe issue of convergence has been discussed in many theoretical and empirical studies. Because per capita electricity consumption is considered as an indication of economic development, this study aims to determine the presence of absolute and conditional beta (beta) convergence of per capita total electricity consumption across the provinces of Turkey between 1986 and 2013. This work is the first investigation of electricity consumption convergence in Turkey. Based on the annual balanced panel data and the spatial panel data model, our findings indicate absolute beta convergence of per capita electricity consumption across the provinces of Turkey. We conclude that regional policies are successful in reducing regional disparities in per capita electricity consumption among the provinces of Turkey. However, other indicators of economic development should be examined to determine the overall convergence.Öğe Exchange Rate and IMKB100 Index Relationship: A New Test(Maliye Bakanligi, 2012) Berke, BurcuThere are two approaches for the relationship between exchange rates and stock prices including traditional and portfolio balance approaches. According to traditional approach, changes in exchange rates affect the profitability of firms and finally, results in a change in stock prices. In this approach, there is a positive relationship between these two variables. On portfolio balance approach, the increase in stock prices has a reducing effect on exchange rate and leads to a negative relationship. In this study questioning of the validity of these approaches for the period 01/04/2002-31/07/2012, the relationship between TL/USD exchange rate and IMKB100 price index is being investigated by using FMOLS, CCR and DOLS methods in Turkey. The results of the three tests show that there is a negative relationship between two variables and therefore, portfolio balance approach is supported.Öğe Exchange rate volatility in the eurozone(Kiel Inst World Economy, 2020) Bajo-Rubio, Oscar; Berke, Burcu; Mcmillan, DavidThe current economic crisis has witnessed a strong deceleration in the growth of international trade. This has been even greater in the cases of the European Unionand the eurozone, where the rates of export growth have even reached negative figures. In this paper, the authors examine to which extent exchange rate volatility might account for the drop in the rate of growth of exports in the eurozone since the start of the crisis. To that end, they estimate export functions, augmented to include several measures of exchange rate volatility, for the four largest economies of the eurozone, i.e., France, Germany, Italy and Spain, for the period 1994:1-2014:4. In the empirical application, the authors make use of two alternative measures for exchange rate volatility, i.e., (i) the Standard deviation and (ii) the conditional variance from the GARCH methodology, of the change in the logarithm of the exchange rate, for both nominal and real exchange rates, and in the latter case computed using as deflators both Export prices and unit labour costs. The empirical results show no clear-cut evidence on the impact of exchange rate volatility on the exports of the countries analysed, suggesting that financial markets were developed enough so that exchange rate volatility does not hinder the evolution of exports.Öğe International trade and finance: A review(Universidad de Huelva, 2018) Bajo-Rubio, Oscar; Berke, BurcuThe emphasis of international trade theories shifted in the last forty years, from comparative advantage, to scale economies and product differentiation. More recently, the “new” new trade theories have stressed the role of firm heterogeneity, which has led to a renewed interest on the study of how credit constraints may hamper the export activities of firms. In this paper, we provide a brief survey of the relationship between international trade and finance, a field that only recently has been the subject of systematic analysis in the economic literature, from both a theoretical and empirical point of view. In general, barriers to external financing play a significant role as an obstacle to the exporting activity of firms, especially for younger and smaller firms; and these results would have been reinforced by the global financial crisis. © 2018, Universidad de Huelva. All rights reserved.Öğe INTERNATIONAL TRADE AND FINANCE: A REVIEW(Univ Huelva, Serv Publicaciones, 2018) Bajo-Rubio, Oscar; Berke, BurcuThe emphasis of international trade theories shifted in the last forty years, from comparative advantage, to scale economies and product differentiation. More recently, the new new trade theories have stressed the role of firm heterogeneity, which has led to a renewed interest on the study of how credit constraints may hamper the export activities of firms. In this paper, we provide a brief survey of the relationship between international trade and finance, a field that only recently has been the subject of systematic analysis in the economic literature, from both a theoretical and empirical point of view. In general, barriers to external financing play a significant role as an obstacle to the exporting activity of firms, especially for younger and smaller firms; and these results would have been reinforced by the global financial crisis.Öğe Karbon Emisyonlarının Belirleyicileri: Seçilmiş Avrupa Birliği Ülkeleri için Mekânsal Bulgular(2023) Berke, Burcu; Kışla, Gül HuyugüzelDünyada giderek artan iklim değişikliğinin temel nedenlerinden biri “karbon emisyonlarının yükselmesi”dir. Literatürde karbon emisyonlarının geleneksel belirleyicilerinin yaygın olarak araştırılmasına karşın, finansal gelişme, yenilenebilir enerji ve gelir eşitsizliğinin bu emisyonlarda yaratabileceği olası etkiler daha az tartışılmaktadır. Bu bağlamda çalışmanın temel amacı 1991-2018 döneminde seçilmiş Avrupa Birliği ülkeleri için karbon emisyonlarının belirleyicilerini mekânsal panel veri yöntemini kullanarak araştırmaktır. Çalışmada diğer kontrol değişkenlerinin (kentleşme ve büyüme) etkileri kontrol edildikten sonra gelir eşitsizliği ve finansal gelişme arttıkça karbon emisyonları artarken, yenilenebilir enerji tüketimi arttıkça bu emisyonların azaldığı veya çevresel kalitenin iyileştiği sonucuna varılmaktadır. Ayrıca, büyüme oranı arttıkça karbon emisyonlarının belli bir eşik değere kadar artıp daha sonra azalacağı fikrine dayanan “çevresel Kuznets eğrisi” hipotezinin de geçerli olduğu görülmektedir. Bu sonuçlar, seçilmiş Avrupa Birliği ülkeleri için karbon emisyonlarının yanı sıra iklim değişikliklerinin azaltılabilmesinin yenilenebilir enerjiyi destekleyecek politikalara bağlı olduğunu ortaya koymaktadır. Dolayısıyla, karbon yoğun kömürden düşük karbonlu gaza veya fosil yakıttan nükleer enerji veya yenilenebilir enerji doğru kaymalar, toplam küresel emisyonlarının düzeyini azaltabilir.Öğe Revisiting the effects of government size and labour market institutions on macroeconomic volatility: The case of the eurozone(Univ Oviedo, 2023) Bajo-Rubio, Oscar; Berke, BurcuWe revisit the role of government size and labour market institutions on macroeconomic volatility, for the case of the eurozone since the adoption of the euro, which can provide a more homogeneous setting to test for macroeconomic volatility. The behaviour of the volatility of inflation looked rather different from that of GDP. Neither government size nor labour market institutions seemed to affect the volatility of GDP, except when demographic factors were included into the estimated equation; whereas lower volatility of inflation was related to a lower share of non-prime age workers and lower wage volatility.Öğe The behaviour of asset return and volatility spillovers in Turkey: A tale of two crises(Elsevier Science Bv, 2017) Bajo-Rubio, Oscar; Berke, Burcu; McMillan, DavidThis paper examines return and volatility spillovers between the Turkish stock market with international stock, exchange rate and commodity markets. Our aim is not only to examine spillover behaviour with a large emerging market but also to examine cross-asset spillovers and how they vary across two periods of financial market crisis; the dotcom crash and the liquidity-induced financial crisis. This is to be compared with existing work that typically focuses on industrialised countries or single asset markets only. Using the spillover index methodology we uncover an interesting distinction between these two periods of markets stress. Over the dotcom period spillovers are largely between the same asset class, notably two exchange rate series and two international stock markets series. However, in the period including the financial crisis, spillovers both increase and cross asset types and suggest a much greater degree of market interdependence. Understanding this changing nature in spillovers is key for investors, regulators and academics involved in theoretical model development.Öğe The Effects of Competitiveness on Trade Balance: The Case of Southern Europe(Walter De Gruyter Gmbh, 2016) Bajo-Rubio, Oscar; Berke, Burcu; Esteve, VicenteAccording to conventional wisdom, peripheral Southern European members of the euro area (Greece, Italy, Portugal and Spain) suffer from a problem of competitiveness. Since their membership of the euro area renders devaluation impossible, adjustment should come through decreasing wages and prices in these countries, which, by improving the trade balance, should lead to a recovery of previous levels of employment and growth. In this paper, the authors estimate trade balance equations for the Southern European countries, both for total trade and for the trade performed with the European Union, taking three alternative measures of the real exchange rate, based on consumption price indices, export prices and unit labour costs, respectively. Their main conclusion is that demand seems to be more relevant than relative prices when explaining the evolution of the trade balance.Öğe The Impact of Information and Communication Technologies on Economic Growth and Electricity Consumption: Evidence from Selected Balkan and Eastern European Countries(Igi Global, 2017) Berke, Burcu; Akarsu, Gulsum; Obay, GokhanInformation overload is an important issue in the digital economy. Although, information can be easily accessed and disseminated by widespread use of information and communication technologies (ICT) since 1990s; among countries, there are still significant disparities in information access and utilization as well as ICT access and usage. ICT affect economy, industries and companies holistically and have important functions like increasing economic growth and promoting development. The basic purpose of this study is to analyze the impact of ICT on economic growth and electricity consumption for a group of Balkan and Eastern European countries by using other economic variables that affect electricity consumption and growth, such as income and electricity consumption for control purposes. This study employed a panel data method on a group of Balkan and Eastern European countries to verify the effect of other economic variables, primarily electricity consumption and found that ICT had positive impacts on economic growth.Öğe The impact of information and communication technologies on economic growth and electricity consumption: Evidence from selected balkan and Eastern European countries(IGI Global, 2019) Berke, Burcu; Akarsu, Gülsüm; Obay, GökhanInformation overload is an important issue in the digital economy. Although, information can be easily accessed and disseminated by widespread use of information and communication technologies (ICT) since 1990s; among countries, there are still significant disparities in information access and utilization as well as ICT access and usage. ICT affect economy, industries and companies holistically and have important functions like increasing economic growth and promoting development. The basic purpose of this study is to analyze the impact of ICT on economic growth and electricity consumption for a group of Balkan and Eastern European countries by using other economic variables that affect electricity consumption and growth, such as income and electricity consumption for control purposes. This study employed a panel data method on a group of Balkan and Eastern European countries to verify the effect of other economic variables, primarily electricity consumption and found that ICT had positive impacts on economic growth. © 2020, IGI Global. © 2020 by IGI Global.Öğe The Relationship Between Triple Deficit and Growth: The Case of Turkey(ESKISEHIR OSMANGAZI UNIV, FAC EDUCATION, 2015) Berke, Burcu; Temiz, Dilek; Karakurt, EdaMacroeconomic equilibrium in an economy is provided by equalizing of internal and external economic balances. While internal economic balance consists of saving-investment balance of the private sector and the income-expenditure balance of the public sector (budget balance), the external economic balance is comprised of the current account balance. According to this equation, when both internal economic balances gave deficits, it is required that the current account balance is expected to give a deficit up to them. This situation is defined as "triple deficit". Triple deficits are generally a problem occurring in the economies trying to grow over the potential, in which there is an insufficient domestic savings. Therefore, it must have been examined the relationship between triple deficit and growth in Turkey. In this study, the effect of each component (balances) of the "triple deficit" hypothesis on growth are studied by VAR model during period of 2003Q2-2012Q4 in Turkey and it is found that these balances are the most explaining variables the growth.Öğe TÜRKİYE’DE REEL DÖVİZ KURUNUN BELİRLEYİCİLERİ: DOĞRUSAL VE DOĞRUSAL OLMAYAN ARDL BULGULARI(2023) Berke, BurcuMakro değişkenlerin artması veya azalması reel döviz kurunda değer kaybı veya değerlenme yaratabilir ve bu koşullarda, Türkiye ekonomisinin dış rekabetçi yapısı diğer ticaret partnerleri karşısında iyileşebilir veya kötüleşebilir. Bu çalışmanın temel amacı Türkiye için 1994-2019 döneminde reel döviz kurunun makroekonomik belirleyicilerini veya spesifik olarak verimliliğin reel döviz kuruna etkilerini hem doğrusal (ARDL) hem de doğrusal olmayan (NARDL) yöntemler kullanarak araştırmaktır. Uzun dönemde diğer kontrol değişkenlerinin (doğrudan yabancı yatırım, dışa açıklık ve kamu tüketimi) etkileri kontrol edildikten sonra doğrusal model, verimlilikteki artışın reel döviz kurunun değerini düşürdüğünü veya bir anlamda Balassa-Samuelson hipotezinin geçerli olmadığını gösterirken, doğrusal olmayan model ise verimlilikteki hem pozitif hem de negatif şokların reel döviz kurunu düşürdüğünü veya reel değer kaybı yarattığını ortaya koyarak doğrusal model sonuçlarını doğrulamaktadır. Ampirik bulgular, Türkiye ekonomisi için dış rekabetçi yapının diğer ticaret partnerleri karşısında iyileşebileceğini göstermektedir. Bu sonuçlar konuyla ilgilenenler için önemli politika implikasyonlarına sahiptir.Öğe Türkiye’de Ücret Eşitsizliğinin Belirleyicileri Üzerine Bir Araştırma(2023) Berke, BurcuDünyada gelir eşitsizliğinin varlığının tespitine yönelik giderek artan bir literatür mevcut iken, uzun dönemde bu eşitsizlik büyüme ve ekonomik krizleri olumsuz etkileyebilmektedir. Bir diğer mesele ise ücret eşitsizliği veya gelir düzeyinde giderek azalan ücret paylarının olası nedenlerinin araştırılmasıdır. Düşük ücretler, tüketimi daraltıp teknolojik yenilik ve verimlilik artışını olumsuz etkilemekte ve eşitsizlik ile sosyal harcamaları giderek arttırmaktadır. Dünyada işgücünün pazarlık gücünün azalması, ticaret ve sermayenin küreselleşmesinin yanı sıra teknolojinin hızlı yayılımı nedenleriyle hem gelişmiş hem de gelişmekte olan ülkelerde ücret paylarının düştüğü görülmektedir. Türkiye’de ücret payları giderek azalmasına karşın konunun yeterince araştırılmadığı veya bir anlamda ücret eşitsizliğinin belirleyicilerinin detaylı olarak ortaya konulamadığı söylenebilmektedir. Bu çalışmanın temel amacı Türkiye’de 1988-2020 dönemi için ücret eşitsizliğinin makroekonomik belirleyicilerini ARDL yöntemini kullanarak tespit etmektir. Çalışmada uzun dönemde işsizlik oranı, dışa açıklık, kamu tüketimi veya harcamaları ve enflasyon oranındaki artışlar ücretin ulusal gelirden aldığı payı (ücret payı) azaltırken, yatırım ve büyüme oranlarındaki artışlar ise ücret payını arttırmaktadır. Bir anlamda Türkiye için ücret eşitsizliğinin azaltılması yatırım ve büyüme oranlarının artmasına bağlıdır. Bu sonuçlar konuyla ilgilenenler için önemli politika implikasyonlarına sahiptir.
