Export-led Growth Hypothesis in MINT Countries: A Panel Cointegration Analysis

The contribution of exports to GDP in MINT countries that improve substantially just after their implantation of export promotion strategy in the late 1980s raises the issue of whether the growth in these countries is led by export or not. While a good number of studies have been found investigating whether economic growth is promoted by exports for developing countries having an outstanding share of export in GDP, no study investigating the export-led growth hypothesis for MINT countries has been found until recent times. The main purpose of this study is to fill up the void. The study employs panel cointegration technique with an aim to examine whether the export is the key factor of economic growth for MINT countries employing yearly secondary data that covers the period. Results of the study imply that economic growth of these countries is considerably exports driven. Moreover, there is an indication of improvement of efficiency as exports work along with the rise capital formation. As the employment opportunity of an economy is expanded through capital formation, the emerging MINT countries endowed with large population and favorable demographics are expected to become the major exporters with strong GDP growth by being able to attract adequate foreign investment.

Determinants of Maternal Mortality Rate in The Kyrgyz Republic Regions

Population is an important factor in development of a country. As a constraint, not only the size of the population is important but also its quality in the development process. Women’s health is considered all over the world and the data about this aspect is published by the World Health Organization annually. Among others maternal mortality rate is one of the major problems affecting women’s health and population. Everyday 830 women die due to the problems related to pregnancy and childbirth in the world. While this number is relatively lower in the developed countries, it is higher in the underdeveloped and developing countries. In addition, the maternal mortality rate in the Caucasus and Central Asia ranks in the worst third in the world. In the Kyrgyz Republic, this rate is 82.083333 per 10000 live births which is the worst in the region. Therefore, it is among one of the countries where the maternal mortality should be reduced in the framework of the Millennium Development Goals. In this study, the determinants of maternal mortality rate are analyzed in the Kyrgyz Republic regions during 2000-2015 by using static panel data methods fixed effects and random effects. The findings show that there are significant decreasing effects of GDP, number of assistant physicians, births by skilled staff, improved sanitation facilities, and gender wage equality, there are significant increasing effects of health expenditures, medical facilities, and poverty among women on the maternal mortality.

Gender Differences, Risk Attitude and Entrepreneurship in Kyrgyzstan

This study analyses the role of risk attitude for entrepreneurship by gender differences in Kyrgyzstan. Multinomial probit analysis is applied to the data set drawn from the nationally representative survey “Life in Kyrgyzstan” for 2011. Entrepreneurship is measured through the agricultural and non-agricultural sample. Results of the study show that more risk taking preferences are associated with higher entrepreneurship probability. However, this effect is not persistent for women in further estimations for non-agricultural entrepreneurship sample, while for men higher positive effect of risk loving behavior remains in off-farm self-employment too.

The Relationships between Economic and Political Liberalization and the Kuznets Curve

Per capita income and income distribution are defined as classical Kuznets curve. From this view, the relationship between per capita income and income distribution is controlled variables and studies that take environmental pollution, financial depth, or trade volume into account are widely seen in the literature according to the study objectives. Respectively, these applications can be named first as environmental Kuznets and secondly as financial Kuznets. As parallel to this view, the studies that emphasize the relationship between export and income distribution are common in the literature, representing economic liberalization. It is also worth noting that political liberalization whether political rights or civil liberties, supports the trend that emerges like the Kuznets’ curve, according to the level of development of the countries. In this study, when the level of national development is taken into consideration, the relationships between per capita income and economic and political liberalization practices have been tested with econometric tests, whether they follow a classical, environmental, commercial or financial Kuznets-like situation. In addition to the classical, environmental, commercial and financial Kuznets, the existence of the “political liberalization practices” will be discussed in the literature in order to overlap the theoretical expectations and the results of this study. In the analysis of the 2012 horizontal cross-section of the country group with the highest Gini coefficient, Kuznets' “inverse U” view is reflected in both commercial and political liberalization dimensions.

The Effects of External Debts on Economic Growth of Kyrgyzstan

In developing countries, insufficient internal sources cause the increase of need on external sources. These countries in order to maintain their economic growth apply for external debt to cover the gap of foreign currency and savings. After the collapse of Soviet Union, Kyrgyzstan began to use external funds. It is very important to use these sources in accurate areas and efficiently. Most empirical studies indicate a negative correlation between foreign debt and economic growth, especially in those countries whose foreign debts are relatively high. This work examines the correlation between foreign debt and economic growth in Kyrgyz economy. Toward this objective, it uses the economic indicators of Kyrgyzstan between 1993 and 2015. The stationarity of time series data used in this study was tested by the ADF test. Than a least-squares regression analysis is performed. According to the findings of study, foreign debt in Kyrgyzstan have a negative impact on economic growth. According to results foreign debt should be reduced in order to increase the level of economic growth in Kyrgyzstan.

Matrix Management Approach and a Survey Research in the Industry

This academic research aims to determine the approach of the employees in different organizations to the matrix management style. Although the practice of matrix management style is quite difficult and its implementation costs are high, the main reasons of its adoption by the managers are discussed. In this research, the facts of establishing effective and reliable communication with all of the employees in an enterprise, working as efficient teams, the interrelation among the teams, solving problems as a team as well as receiving education for conflict resolution and ensuring cooperation among people while maintaining the values of the enterprises are investigated. In addition, the attitude of the managers in the performance of important tasks towards prioritizing knowledge and competence rather than authority and line relationships, the establishment of an integral and equitable performance evaluation system, the existence of a consistent information flow and a multidimensional accounting are inquired. Besides, by the integration of the conflict management process into the planning process, the use of the appropriate planning software, and clearly defining the tasks with all the details and responsibilities involved, the building-up of needed connections to do the work and at the same time, which add value to the work, are evaluated.

The Protection of Bank and Customer Secrets by Criminal Law

The Turkish Penal Code (TPC) no.5237 embodies “the reveal of bank and customer secrets” as a crime. However, neither article 6 of the TPC titled “definitions” nor the legal justification of the article contains the definition of the bank or customer secret. On the other hand, the bank or customer secrets are under guarantee of four different codes. These dispositions can be counted as the article 239 of the TPC, the articles 35 and 68/II/a of the Turkish Republic Central Bank Code dated 14.01.1970 and numbered 1211, the articles 73 and 159 of the Banking Code dated 19.10.2005 and numbered 5411 and also the articles 8, 23 and 31 of the Bank Cards and Credit Cards Code dated 23.02.2006 and numbered 5464. Though, these two special codes do not make a connection to the article 239 of the TPC which constitutes the general norm nor the TPC makes a reference to those dispositions. In this study, we will try to explain first the notions of bank and customer secrets, then the penal norms protecting the bank and customer secrets and last, the elements of the crime disposed in the article 239 of the TPC.

Remittances and The Real Effective Exchange Rate: Empirical Evidence from Kyrgyzstan

Since 2000 the volume of economic reasoned migration has been rapidly rising in Kyrgyzstan. The number of labor migrants currently working abroad counts around 600 thousand people or about 10% of the population of Kyrgyzstan. With growing pattern of labor migration, the amount of remittances has grown as well. According to the World Bank, Kyrgyzstan is on the first place in the world in terms of share of remittances in the GDP (34%) in 2016. The main remittance sending countries for 2005-2016 periods are the Russian federation and Kazakhstan. The large scale of migration outflow and remittances, making domestic economy of Kyrgyzstan dependent on external shocks, related with migration. For this reason, the purpose of this study is to examine the impact the high level of remittances inflow from labor migration on the exchange rates, particularly on the reel effective exchange rate of Kyrgyzstan for the period of 2005-2016. The empirical analysis was carried out with Cointegration model, and according to the results obtained, the remittances and real effective exchange rates have long run relationship.

Management and Organization Issues of the Banking Sector in Kyrgyzstan

The banking system is an integral part of contemporary economy. There are many reasons behind the success of the banks. One of the most important of these reasons is the development of effective management and organization in the banks. This study has been applied to commercial banks in Kyrgyzstan banking sector. The aim of this study is to identify the problems of commercial banks in Kyrgyzstan and to contribute to new work on their solution. The main issues such as planning, organization, decision making, human resources and training related to management and organizational problems of the enterprises in the study are discussed. Besides the general information about the research, the research method, sampling and measurement tools are given. Findings from the questionnaires were evaluated on the percentage (%) and frequency (f). In the results obtained, it was observed that commercial banks were making short-term plans and staff recruitment was dependent on management. It has been understood that senior management does not resort to employees' opinions when making a decision.

To Find Own Path

The report reviews the search and selection of ideology, concept and models of economic development in the post-Soviet space with account of historical peculiarities, demographic processes, natural resources, scales of country and its economy, new political and legal structure, transition to open and free market economy. It evaluates the current state, defines objectives of development and ways of their implementation for a full-fledged establishment of the social economy, taking a rightful place in the world economy, which is appropriate to its own possibilities and needs, knowledge-intensive and receptive to innovations and in-demand within the international geo-economical space. In the end, must be approved by the inter-state peaceful coexistence, political tolerance, social solidarity, mutually beneficial economic cooperation that ensures a prosperous development of societies and States that Man lived happily ever after.