Impact of Terrorism on Financial Markets: The Case of Turkey

This study investigates the impact of terrorism on the Turkish financial market using daily data from Jan 4, 1988 to May 24, 2016. In order to measure the impacts of terrorist attacks in Turkey we test for causality from terrorism index to returns and volatilities of 3 aggregate and 16 sector level stock indices using a recently developed nonparametric causality-in-test test of Balcilar et al. (2016). The results obtained indicate that there is no causality from terrorist activities to stock market returns (1st moment). However, we find significant causality at various quantiles from terrorist activates to volatility (2nd moment) of tourism, food and basic materials sectors.

The Developing Countries External Debt and Growth Issues and Example of Turkey

Today; country economies are dealt with from a global perspective. International capital, and technological developing, had accelerated the flow of factors also. This case demonstrates the international economic interdependence. In industrialized countries after the Second World War, while exports of industrial products increased by busy; In 1970's years, the oil crisis shocks had been lived. In the 1980s, in the world debt problems emerged. In the 1990s, world economy, has become multi-polar world with together globalization, and in order to the crisis by IMF and World Bank were began effective interventions, in the 2000s there has been a global crisis together with debt crises. The economic problem is a basic reason of the main of all crises. These crises are occurring frequently in emerging markets such as Turkey. For Turkey the real economy to financial fragility adversely affects and therefore the Current Account Balance / GNP status is important. This problem cited above, were discussed in five parts in the article. In the first part; In the case of Turkey was discussed; in general, the increase causes in imports were discussed. In the second chapter; increase in exports and imports coverage rate was examined. In the third chapter, the growth phenomena of dependent to import was discussed. In the fourth chapter; borrowing requirements, growth and debt relations were discussed. In the fifth chapter, conclusions and recommendations took place. The method used; the deductive method. CBT, Treasury data, World Bank data, Turkey Statistical Institute data were used.

Agricultural Certification Programs Implemented inTurkey and the Extent of their Contributions to Environmental Sustainability

The negative impacts of global-scale developments and consumption habits on the environment are increasing each day. In this context, studies are conducted worldwide by many institutions and non-governmental organizations to support environmental policies. Additionally, certification programs are being executed by conformity assessment bodies to mitigate the impacts of production processes on the environment. These management systems or certification programs are either used on a voluntary basis or made mandatory by company policy, national or international regulations. The certification programs were firstly started to be used in industry and service sectors and are currently being used in agriculture sector. The certification programs used in agriculture sector aim to ensure an environmentally-friendly agricultural production process and improve consumer trust and satisfaction. This study aims to address the extent to which implementation of ISO/IEC 17065 Standard based organic and good agricultural practices and GLOBALG.A.P. certification programs and ISO 14001 Management System Standard have contributed to environmental sustainability in Turkey.

Improvement of the Corporate Loan Process in the Turkish Banking Sector: A Model

The aim of the present study is to develop a model for the integration of lean thinking into the corporate loan process with a special focus on the utilization of the value stream mapping technique. In line with this aim the study proposes a three-legged model specifically for the corporate loan processes of banks in Turkey as a developing country pursuing to integrate into the global financial world. The three dimensions included in the model are operational dimension, staff dimension and customer experience dimension. The study argues that by applying the proposed model based on the lean six sigma approach, banks can achieve and sustain a high level of improvement that would increase speed, value creation, cost-efficiency, profitability and customer satisfaction and reduce waste, processing time and effort, duplication and prolonging of transactions, redundancies, risks and errors in the whole corporate loan process.

Evaluation of Investment Projects: A Case from Turkish Cement Sector

Capital budgeting is crucial for firms that have projects to evaluate especially when the projects are mutually exclusive or financing is scarce. The aim of the study is to determining the most widely used methodologies in capital budgeting decisions and their effectiveness. A qualitative research will provide cement sector specific examples in assessing industry projects and compares the methods of Net Present Value, İnternal rate of Return, Pay-back period, discounted pay-back period and MIRR. Each method is briefly discussed and its drawbacks and advantages are mentioned in detail. Other sectors are also examined in terms of capital budgeting. Our preliminary results indicate that net present value method dominates capital budgeting decisions in the sectors under study.

Influence of R&D and Innovation on Development in Emerging Markets

The concept of development has been interpreted in different ways from past to present. This concept was discussed previously on economic, social and cultural aspects; but now it has transformed into concepts like human capital, education, health, innovation, technological development and poverty. A country needs producing for development, and it is necessary to increase efficiency for obtaining profits from this production. At this point the inclination to R&D and innovation is increasing. Today, it is experiencing the transition of a new era. This process can be distinguished by technological change resulted from knowledge creation, innovation and R&D. In addition to the production factors, knowledge and technology have become indispensable where the importance is increasing. R&D and innovation are seen as factors which are increasing economic growth, prosperity and quality of life and which provide competitiveness and productivity growth between countries. In this study, R&D and innovation activities are evaluated and their importance are highlighted in the issue of development for emerging markets. The increasing R&D and innovation projects provided that resources are using more effectively and efficiently by contributing to the development of emerging markets. The purpose of this study is to determine the impact of R&D and innovation on development by considering sample emerging markets economies and to make the attention of the scientific community focus on these issues.

Determinants of Internal Migration in Turkey

Migration is defined as movement of population from one place to another. If population moves within the country, it is identified as internal migration, vice versa if population moves out of country, it is identified as emigration. Thanks to economic policies implemented in 1980’s in Turkey, there has been structural transformation. With the beginning of intensive migration from rural areas to urban places, this movement has brought some problems. In this paper, firstly internal migration phenomenon will be explained theoretically and will be presented in terms of Turkey side with various statistics. Some factors which are thought as having an impact on emergence of internal migration that heads to serious problems and reached serious dimensions in Turkey will be estimated with regression model. Economic reasons of migration will be discussed with driving and attractive forces. And with this approach, it is planned as the migration rate will be added to regression model as dependent variable and income, education, unemployment and health will be added to model as independent variable. Social and economic policies will be proposed in order to provide solutions of problems about internal migration.

Common Formal Education Proposal in Preventing Immigration for Sustainable Development in Rural Areas: A Pilot Study

This study was conducted to determine the effect of training in the prevention of migration as an obstacle for sustainable rural development. In this context, the causes of migration from rural areas to the cities were investigated and evaluated the educational status of people living in the villages. For this purpose, research has been implemented in rural part of Turkey’s Central Anatolia, Mediterranean and Black regions. Research data were collected by applying a questionnaire to the region inhabitants. A total of 123 questionnaires were evaluated. On statistical analysis, Cronbach's alpha value was found to be .833. Consequently, accessed findings are: 1) People living in region have low educational levels. 2) None of the participants had received any training related to agriculture in high school. 3) The proportion of participants receiving vocational training in related to agriculture, except for state schools is low. 4) Lack of education is one of the important reasons of the migration from rural to urban areas. 5) If enough agricultural education is given to region habitants, natural resources to ensure the survival of future generations are protected.

Eurasian Competitive Capacity Turkey

New ventures and creation of market awareness and industrial competition make competition as a prior concept. From this, evaluation of Eurasian competition capacity from the viewpoint of Turkey gains importance as an issue. Within the scope of EU 2020; 3 thematic priorities, 5 main targets, 7 initiatives were determined as a basis. This study that aims developing innovative management and achieving sustainable and more balanced growth with powerful innovative competition capacity, will take basic policies, which will create the competition capacity leans from Turkey to Eurasia, as a basis. This study also includes the analyses of sectoral competition capacity from Turkey to Eurasia as well as legal regulations, energy, trade, employment and geographical dimensions. As the method of this study, data regarding the indications of competition capacity over the last decade will be evaluated, deficiencies will be determined, source distribution will be directed, technological development functions will be achieved, efficient and function competition will be coordinated with the economic growth and a series of measurements will be taken and competition policies will be established in this regard. This study will also analyze the competition policies of Turkey and Eurasia and their objectives, efficiency and measurement of competition, general overview of Eurasian economies, global competition in Eurasian countries, index sequencing and scores in accordance with developed innovation in terms of Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan and Turkey. Through the evaluation of rankings of Eurasian economies within Global Competition Index as well as the scores and Global Competition Report, the study will be concluded.

Capital Flight and Transition Economies

Capital flight and calculation methods are one of concepts that could not been arrived at a consensus in economics literature. Capital flight is defined generally as transferring resident assets of countries to abroad. In addition, political and economic uncertainty and including all capital outflows done with speculative aims in this scope is more acceptable and appropriate approach. Definitional-level differences are the fundamental reasons of measuring methods and their results. When examining in terms of developing countries, it has been seen that regarding capital flights which fall in importance and amount relatively between second half of 1990s and 2000s have extended fast from current years. This situation is not different for economies in transition. Currently the analyses regarding capital flights draw attention with its results that support concerns about transition countries. In this context, calculation methods and the results obtained constituted a different research subject for transition economies. Our study has aimed to analyze of capital flight for 1995-2015 period in the context of selected economies in transition. In analyses, World Bank (WDR 1985) calculation method of capital flight was used. The results have differentiated according to calculation methods, also draw attention to significant increases especially in current years and support concerns regarding increase of capital flight. While our study makes political suggestions directed at decreasing capital flights of relevant countries, redraw attention to discussion in this context.