Analysis of Capital Flight in Developing Countries: A Study on Turkey between 1980 and 2010

The aim of this study is to determine whether there is a relationship between Capital flight and some macroeconomic variables by using anual data between 1980 and 2010 in Turkey. Capital flight measured by World Bank (1985) method, was used as dependent variable and external debt, foreign direct investment, uncertainty, real GDP growth, exchange rates, trade balance and consumer price index were used as independent variables. Ordinary Least squares estimation method, Johansen-Jeselius cointegration test, Granger causality test and variance decomposition results produced by VEC model were used in the study. After those econometrics and economics analysis, this paper put forward that there is a long run relationship between some macroeconomic variables and capital flight.The results show external debt, foreign direct investment inflows, and foreign reserves to be the major effector of capital flight.

The Relationship between Public Expenditure and Bureaucratic Quality: The Case of Eurasian Economies

One of the controversial issues among researchers in the field of public finance is estimating the determinants of public expenditures. It’s argued that public expenditure is determined by economic as well as demographic, social and political variables. One of the important element of political variables is bureaucracy. If bureaucracy, as one of the main actors of political decision making process, works in quality, effectiveness and efficiency would occur in publicly provided goods and services. In parallel with the good quality of bureaucracy, the size of state would become smaller. The purpose of this study is to test empirically between efficient bureaucracy and public expenditure, using dynamic panel data analysis of 6 Eurasian Economic Community countries from 1998 to 2011. This study finds evidence that existence of bureaucratic quality reduces the public expenditures.

Transboundary Environmental Damages in the Black Sea Basin and Regional Liability Regime

The Black Sea is a significant basin where transboundary environmental damage activities take place. The environmental problems in the Black Sea are not only on the agenda of six Black Sea littorals, but also the states in the wider Black Sea basin. The large scales of strategic, economical and political problems in the region require entrepreneurship and co operations of the other states on the same platform. This study has two main environmental security dimensions: One of them is identifying the damages and opponents; the other one is the security problem in transboundary environment and the responsibilities of the Black Sea states. In this regard, this study aims to initiate a conversation in precautions against transboundary environmental damages considering the current security risks.

Renewal Process Approach to Companies Effects of Exports

In this study, it has been discussed that whether the results of the reengineering is limited and remarkable or not. In this respect, it has been questioned whether there is a significant increase in the amount of exports of a furniture company before and after carrying out the reengineering project. It has been follow-up the same six-month periods of company's situation and the export amount before and after the reengineering project. The Wilcoxon Signed Ranks Test was applied on the data obtained. It has been concluded that reengineering was an important tool not only in increasing the amount of the production but also increase the amount of exports and profitability dramatically.

EU Debt Crisis and Contagious Effect via Transmission Mechanisms: Possible Effects on Turkey

The common features of the crises, which are resulted from global crisis rooted from the US and emerged in Euro Zone sequentially, are the rate of public debt and budget deficit of GNP far from reflecting Maastricht criteria. Beginning in Greece in 2009, it has been seen in Ireland, Italy, Portugal, and Spain in a recent time. Although money union is established, leaving financial policies to country’s own initiative resulted in unsolved problems. Seeking solutions with IMF led to some sustainability programs. However, expectations show that debts will not be overcome for a long period. Towards this end, it is possible for Turkey to be affected since European Union is her biggest trade partner. There is a general consensus on that trade and credit channel of transmission mechanisms would affect Turkey. Export preserves its level at 55%. Likewise, a large part of foreign debt of Turkey is to European banks. Furthermore, sustainment of the recent growth trend of Turkey requires new funds. In case European banks strengthen their capital by means of downsizing their balance sheets as a restructuring, Turkey may be in a challenging position.

Arbitration Rules in Turkish Legal System

International companies, with the countries having the relations of commerce and investment, would refer to go to arbitrators, which is completely based upon their free will, to remove or minimise the risks in their own legal systems, to provide the disputes resolve fast and effective way, during the resolution of disputes. Also in our country, to provide the improvement of the international commerce and to promote investment of foreign and local corporation, according to the national and international arbitration legal regulations are made and international agreements are signed by taking notice of the international arbitration rules. Under the title of this, Turkish legal system of the arbitration rules will be researched in details.

Economic Regionalisation in the Russian Foreign Policy: Is it Possible to talk about the Eurasianist Model of Integration?

In this paper, we try how the idea of economic regionalism has developed within the framework of the interests of the Russian foreign policy, which adopted a Eurasianist rhetoric for nearly fifteen years. As the trends of globalisation spread over the world after the end of the Cold War period, the regional integration movements also gained speed with different forms and contents. Meanwhile the countries in the post-Soviet geography adopted different political approaches towards regionalisation and globalisation by taking into consideration their own capabilities and interests. At its own side, Russia was in search of integration within the world economy by trying to implement its own regionalist policies both at the level of the CIS area and with the neighbouring countries like China and the EU. The Eurasianist discourse has no doubt such impact on Russian leadership’s choices of partners and orientations for economic regionalisation. At this point, we want to discuss if it is possible to talk about some “Eurasianist model of regional integration” as a new idea which can combine, at one side, the institutional integration process within the CIS area and, at the other, the strong regional cooperation with the Asian economic partners like China. This model can be also Russia’s answer to embrace both globalism and regionalism by preserving its own hegemonic expectations after the Soviet legacy.

Turkey - Black Sea Economic Cooperation Organization: Foreign Trade Relations during the 1996-2012 Period

This paper presents the regional economic relations between Turkey and Black See Economic Cooperation Organization (BSEC). The Heads of State and Government of eleven countries: Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey and Ukraine signed the Summit Declaration and the Bosphorus Statement giving birth to the Black Sea Economic Cooperation on 25 June 1992, in Istanbul. On 5 June 1998, the Heads of State or Government signed the BSEC Charter, came into force on 1 May 1999 BSEC has evolved into an international regional organization for economic cooperation. The organization has 12 members since Serbia joining the organization in 2004. It came into existence as a unique and promising model of multilateral political and economic initiative aimed at fostering interaction and harmony among the Member States, as well as to ensure peace, stability and prosperity encouraging friendly and good-neighbourly relations in the Black Sea region. Countries bordering the Black Sea, Balkan and Caucasus formed the BSEC countries cover an area of approximately 20 million square kilometer and represent more than 350 million people. The region with the foreign trade volume of U.S. $ 300 billion per year draws attention to the rich natural resources; and is the main European energy and transport corridor transfer. The Black Sea region is a contested neighbourhood and the subject of intense debates and conflicts in the globe. Also, this reflects the changing dynamics of the Black Sea region, its complex realities, the interests of outsiders and the region’s relations with the rest of the globe. Moreover, its strategic position, linking north to south and east to west, as well as its oil, gas, transport and trade routes are all important reasons for its increasing relevance. Turkey's foreign trade volume with BSEC member countries is steadily increasing as per the findings over the period of 1996-2012.

Only the Correct Policy will Return Trust

The given paper analyzes and assesses the socio-economic development of the Kyrgyz Republic in period of 22 years. The objects of attention were the problems of market economy, social problems such as poverty, unemployment, internal and external labor migration, issues of active economic policy and its unconditional implementation. The results, obtained from the critical analysis, allow giving recommendations to include in the policy renovation and development components and achieve stable and sustainable growth in economy to ensure an increase in its scale and efficiency.

Effects of Health Sector Information Asymmetry on Patient Satisfaction: An Appilication on Yalova Oral and Dental Care Centre

Effects of excessive information level difference between providers and receivers of health care services on patients will be presented with this work. Fundamental concepts like health care service, information asymmetry and it’s effects will be explained. Information levels of attempts and treatments that were put in practice to the patients, surgical operations and billing will be studied and the outputs of the information level difference between the provider and the receiver will be determined. In this research, it will be revealed if the practical applications and the concepts in the literature overlap each other and developing a new method towards evaluating the information level difference will be attempted. Patients who received a certain number of treatments will be targeted. Survey questions that will be asked to the patients will try to reveal the amount of information on the procedure they have undertaken and the between this level of information and the their satisfaction. SPSS software is used for the analysis of the data. Resolving of the relation between patient satisfaction themeasured percentage of level of information about the procedure the subject have undertaken will be attempted during the evaluation of the survey results. The effects of gender, age and education on level of information-customer satisfaction will also be investigated while determining the patients level of information with this survey.