Ekonomi Bölümü Koleksiyonu
Permanent URI for this collectionhttps://hdl.handle.net/20.500.11779/1936
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Article Quality of Government Cohesion Across EU Regions: Success or Failure(Routledge Journals, Taylor & Francis Ltd, 2026-01-16) Karahasan, Burhan CanRegional differences in institutions is a threat for political and economic integration. In this paper, we analyse the institutional convergence across regions of the European Union (EU). Preliminary results show that there is continuous improvement fostering institutional convergence. However, heterogeneity analyses point-out that the speed of institutional development is influenced by the enlargement phases of the union. Additional results indicate that the regions of the Central and Eastern European (CEE) countries and the southern regions belonging to Greece and Spain experience faster institutional convergence. Accordingly, the enlargement process, fostering further heterogeneity, is an important element to improve the institutional quality of the new EU members. However, temporal convergence trends show that the dynamics of institutional convergence shift over time, reflecting the non-stationary evolution of success-failure cases.Book Part Precarious Work and Individual Deprivation During the Post-COVID Era: Lessons From Turkey(Edward Elgar Publishing Ltd., 2025-05-13) Kinikoğlu, C.N.; Karahasan, B.C.Article Citation - WoS: 1Populism and Income Inequality: Is Income Inequality in Türkiye a Political Choice?(Istanbul Univ, 2024-12-31) Asfuroğlu, DilaThe argument that national inequalities are political and thereby driven by political decisions implies that income distribution is not merely an economic phenomenon but also a political one. Hence, this study explores the impact of populist governance on income inequality in T & uuml;rkiye. In doing so, this study addresses whether income inequality in T & uuml;rkiye is a political choice, drawing on economic, social, and political data over the years 20082022. According to the results of the quantitative analysis, the share of income for the working class has fallen, the income gap between the lowest and highest deciles of the working class has narrowed, and the potential for fiscal interventions to reduce income inequality is not realised. In return, the income inequality that existed in 2008 has persisted at the same magnitude over the years. In other words, even if income inequality is not an explicit political choice, the populist governance in T & uuml;rkiye between 2008 and 2022 has chosen not to contribute to the solution to this prevailing inequality.Article Citation - WoS: 4Citation - Scopus: 4Institutional Quality and Geography of Discontent in the Eu(John Wiley and Sons Inc, 2023-12-12) Pınar, Mehmet; Karahasan, Burhan CanThere has been a significant rise in anti-establishment votes in the European Union (EU). The decline in socio-economic outcomes and migration played an important role in understanding the rising discontent. However, none of the existing studies analysed the effect of socio-economic factors in different institutional settings. Our findings confirm that institutional quality is of paramount importance in explaining the recent rise in populism in the EU, as institutionally developed EU regions are less opposed to EU integration. Remarkably, the effects of socio-economic factors on populist votes vary in different institutional settings. The findings highlight that institutional improvements are vital for the EU perception of less developed and socio-economically isolated EU regions.Article Citation - WoS: 6Citation - Scopus: 6Effects of Vaccination and the Spatio-Temporal Diffusion of Covid-19 Incidence in Turkey(John Wiley and Sons Inc, 2022-06-04) Bilgel, Fırat; Karahasan, Burhan CanThis study assesses the spatio-temporal impact of vaccination efforts on Covid-19 incidence growth in Turkey. Incorporating geographical features of SARS-CoV-2 transmission, we adopt a spatial Susceptible–Infected–Recovered (SIR) model that serves as a guide of our empirical specification. Using provincial weekly panel data, we estimate a dynamic spatial autoregressive (SAR) model to elucidate the short- and the long-run impact of vaccination on Covid-19 incidence growth after controlling for temporal and spatio-temporal diffusion, testing capacity, social distancing behavior and unobserved space-varying confounders. Results show that vaccination growth reduces Covid-19 incidence growth rate directly and indirectly by creating a positive externality over space. The significant association between vaccination and Covid-19 incidence is robust to a host of spatial weight matrix specifications. Conspicuous spatial and temporal diffusion effects of Covid-19 incidence growth were found across all specifications: the former being a severer threat to the containment of the pandemic than the latter.Book Part Citation - Scopus: 2New Money: Central Bank Digital Currencies(Peter Lang AG, 2019) Karamollaoğlu, Nazlı; Tuncay, BernaPayment systems have been evolving along with technological advancements in the last couple decades. The introduction of different forms of electronic banking, the advance of Internet banking services, and advances in mobile phone and mobile payment technology have reduced the use of physical currency. Additionally, the first mover cryptocurrencies, bitcoin and its various alternatives (e.g., Ether, Litecoin), have been expanding their footprints, despite the volatility of their prices and the issues with their capability. These developments pose both opportunities and threats for Central Banks, particularly in the formulation of monetary policy and regulation of payment systems. Increased adoption of cryptocurrencies for payment transactions could undermine central banks' monetary policy missions as their policy power over the money in circulation would weaken. Weakened monetary policy control on the central bank side would risk financial stability. On the other hand, cryptocurrencies may also have positive impacts on the economy through various channels such as cost and time driven payment market efficiencies, financial inclusion, cashless society, and smaller informal sector. A central bank digital currency (CBDC) may have various characteristics related to its store of value, availability, settlement time, wallet and transaction limits, extent of use, being interest bearing or not and level of anonymity. While each characteristic has its own pros and cons, decisions on the CBDC characteristics need to be made by taking into account the country's circumstances, priorities, and ultimate policy objectives. © Peter Lang GmbH Internationaler Verlag der Wissenschaften Berlin 2019. All rights reserved.Article Citation - WoS: 6Citation - Scopus: 8Arbitrageur Behavior in Sentiment-Driven Asset-Pricing(World Scientific Publishing, 2021-09-01) Kılıç, Erdem; Oğuzhan, Göksel; Goksel, OguzhanThis study aims to model arbitrageur behavior in a sentiment-driven capital asset-pricing model under the premise of reflecting a more detailed decomposition of investor types in the equity markets. We explore the behavior and the impact of arbitrageur behavior, particularly, on pricing and on key financial ratios. We observe that the prevalence of the arbitrageur counteracts the effects of unsophisticated investors, resulting in a lower volatility of the price–dividend ratio, lower predictive power of changes in consumption for future price changes and lower equity premium. Thus, the results of our research allow us to conjecture that the extrapolation bias in the prices is lowered.Article Citation - WoS: 5Citation - Scopus: 4Economic Geography and Human Capital Accumulation in Turkey: Evidence From Micro-Data(Routledge, 2021-02-24) Karahasan, Burhan Can; Bilgel, FıratThis study examines the impact of market access on human capital accumulation in Turkey. Using individual-level data, the analysis explores the background of human capital accumulation, combining market accessibility, wages and human capital development. Upon the treatment of wages as an endogenous covariate of interest and overtime work as an exogenous source of variation, we find evidence that the impact of market access on human capital development vanishes in ways not predicted by the augmented New Economic Geography set-up for human capital accumulation. Findings confirm that economic policies may be effective in reducing regional variation in human capital endowments.Article Citation - WoS: 3Citation - Scopus: 4State–business Relations, Financial Access and Firm Performance: a Causal Mediation Analysis(Wiley, 2020-09-01) Karahasan, Burhan Can; Bilgel, FıratThis study investigates the triangular relationship among state–business relations, financial access and economic performance in the Middle East and North Africa. We hypothesize that financial intermediation is a significant mediating factor in the relationship between state–business relations and firm performance. Employing a causal mediation analysis, results show that inefficient ties with the state are a cause of poor firm performance. Inefficient state–business relations reduce firm performance by 2.3 to 4.4 per cent through access to finance and by 12 to 40 per cent via its direct effect. About 3 to 16 per cent of the total effect is mediated through financial access, while the remaining is the direct effect.Article Citation - WoS: 3Citation - Scopus: 3Efficiency Analysis of Social Performance – the Case of Turkish Super League(Taylor & Francis, 2020-07-07) Donduran, Murat; Özaydın, SelçukUndoubtedly, due to its impact on both revenues and the home advantage, social performance is a key factor of success for football clubs. Growing revenues and the government’s eagerness to promote football in Turkey in recent years have created desirable conditions for Turkish clubs. However, research into the impact of social performance success has not received much attention, especially in Turkey, despite Turkey being one of the major leagues in Europe. This study aims to fill this gap in the literature. It does so by investigating social performance using a two-stage stochastic frontier analysis drawing on evidence from the Turkish Super League between the 2012/2013 and 2017/2018 seasons. Results from the first stage illustrate that social efficiency leaders change almost every season. Results from the second stage of research identify which specific factors are diminishing the social technical efficiency for clubs in the Turkish Super League. It emerges that the fundamental source of social inefficiency in Turkey is the Passolig, an identification system implemented in 2014. Furthermore, it transpires that heterogeneity among the clubs’ hometowns is also highly influential on social efficiency. However, even though attendance has managed to recover back to pre-Passolig levels, social efficiency is still lower than the pre-Passolig levels.