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Increasing Entrepreneurial Intentions of Generation Z as an Economic Engine: The Use of Digital Tools in Education
Full text linkEntrepreneurship plays a crucial role in economic development due to its positive impact on employment, innovation, productivity, capital formation and economic growth. In the context of the United Nations Sustainable Development Goals, entrepreneurship education is undergoing digital transformation. Technological advances and the emergence of Generation Z in the education system have led to the use of various digital tools with elements of artificial intelligence in the education process. This paper examines the impact of digital tools in entrepreneurship education on the entrepreneurial intentions of Generation Z as a significant economic driver based on experiments conducted in different countries of the European Union. A systematic literature review has been carried out on digital transformation in entrepreneurship education and its role in increasing entrepreneurial intentions, as well as an insight into generational theories and a description of the behavioural and perceptual characteristics of Generation Z. In the empirical part, a statistical data analysis has been conducted based on the results of an experiment performed in selected countries of the European Union, in which, the digital tool KABADA for teaching entrepreneurship to Generation Z was tested among business and non-business students. The results of the study show a significant influence of the use of digital tools in the teaching process on the entrepreneurial intentions of Generation Z, thereby confirming the findings which support the effectiveness of digitization-based entrepreneurship education in promoting entrepreneurial intentions and thus making an important contribution to economic development
Unveiling the Impact of GDP, Population, Energy Consumption, and Trade Globalization on the Load Capacity Factor in Türkiye: Nonlinear Approaches
No full textIt is clear that the climate crisis is having a profound impact on the entire ecosystem. In order to prevent it, it is essential to first identify and address its causes. This study investigates the effects of Gross Domestic Product (GDP), population, primary energy consumption and economic globalization on the Load Capacity Factor (LCF) in Türkiye over the period from 1965 to 2022 by using the Wavelet Coherence (WCO), Quantile on Quantile Regression (QQR) and Augmented Autoregressive Distributed Lag (AARDL) methods. The results of WCO showed a negative correlation between LCF and GDP, as well as primary energy consumption while a positive correlation was detected between LCF, population, and trade globalization. Moreover, QQR results indicate that GDP has a positive impact on LCF at the upper quantiles, while GDP leads to a decrease in LCF at the lower quantiles. Moreover, population and primary energy consumption have a negative impact at different quantiles, while trade globalization has a negative and positive impact on LCF at different quantiles. The AARDL test results prove that an increase in GDP worsens LCF in the long run. It has also been found that population growth increases LCF, while primary energy consumption decreases LCF in the short run. These findings highlight the complex interactions influencing LCF and underscore the need for targeted policies. Therefore, these findings are important for the roadmap that policy makers could follow in terms of the climate policy
Green Innovation and Total Factor Productivity Relationship: The Case of Türkiye
No full textIn recent years, the global economy has increasingly focused on sustainability and environmental responsibility, and green innovation has emerged as a critical driver of productivity. Therefore, understanding the relationship between green innovation and the Total Factor Productivity (TFP) has gained significant importance. This study aims to empirically examine the relationship between total factor productivity and green innovations in Türkiye from 1998 to 2019, by using the ARDL bounds test. Additionally, the study investigates the effects of foreign direct investments, carbon emissions, financial development, and fixed capital investments on the total factor productivity as control variables. The findings indicate that green innovations have a positive and statistically significant impact on the total factor productivity. Furthermore, the consistency of these results was tested by using the FMOLS estimator, confirming that green innovations positively affect the total factor productivity. The findings of the study provide insights into the potential of green innovation as a driver of productivity growth. The findings contribute to the ongoing discussion on how emerging economies, such as Türkiye, can achieve productivity growth
Financial Development, Economic Growth and Income Inequality in Central Eastern European Transition Economies: Evidence from the Toda-Yamamoto Panel Causality Test
Full text linkThis study rigorously examines the causality between banking development, economic growth, and income inequality using annual panel data for 13 Central Eastern European transition economies from 2000 to 2020. The Granger non-causality test of heterogeneous panels based on the Toda and Yamamoto approach is employed for the empirical analysis. The main findings establish a trivariate causal relationship between financial development, economic growth, and inequality. In particular, the banking development measured by private credit provided by the financial sector and liquid liabilities Granger causes economic growth, and economic growth Granger causes income inequality. Based on the results, policy implications in European transition economies should focus primarily on expansion and banking system reforms so that to improve financial services, leading to enhanced economic growth. The boosted economic activity could ameliorate income inequality and improve social welfare
Examining the Financial Development Channels Affecting Economic Growth in Turkey
Full text linkIn the early 1980s, Turkey took steps towards financial liberalization. Accordingly, policymakers have implemented policies for the development of the financial system. Since then, developments in the banking sector have driven economic growth and met the private sector’s demand for funds. The research problem involves analyzing the relationship between financial development and economic growth in Turkey, which is crucial in determining the effectiveness of policies implemented for financial development. Determining the source through which financial development is vital for economic growth is also critical in designing these policies. This research examines the channels through which financial development impacts economic growth in Turkey. By using data from 1974 to 2023 for Turkey, this study conducted a Granger causality test based on VECM and the Toda Yamamoto method to analyze the causal relationship between economic growth and financial development. The analysis also included impulse response functions. Our study reveals that financial development contributes to economic growth. Policymakers should implement policies that prioritize the development of the financial system
Relationship of Financial Development, Globalization and Gender Inequality in Emerging Islamic Countries
Full text linkThis study analyzes the influence of financial development and globalization on the gender inequality index in emerging Islamic countries. The sample of this study is Islamic countries with emerging market categories, including Malaysia, Indonesia, Türkiye, Saudi Arabia, Pakistan, Qatar, Egypt, Nigeria, and Iran. These countries are sampled in this study based on the magnitude of their GDP in the Islamic emerging countries group. The analysis technique in this study uses a panel data regression. The results show that financial institution access, depth, and efficiency, as well as the KOF globalization index are proven to be able to reduce the gender inequality index. Expansion of the network of financial institutions to remote areas is deemed to improve access for women, with special attention to women in emerging Islamic countries
The Effect of Foreign Direct Investment, Domestic Investment, and Trade on Economic Growth: Evidence from the Baltic Countries
Full text linkThis study investigates the impact of foreign direct investment (FDI), domestic investment, and trade on economic growth in the Baltic countries (Estonia, Latvia, and Lithuania). Using annual time-series data from the World Bank for the period 1995–2022, the analysis employs the Pooled Mean Group Autoregressive Distributed Lag (PMG-ARDL) approach. To ensure robustness, the study also applies the fully modified ordinary least squares (FMOLS) and dynamic ordinary least squares (DOLS) methods. The findings reveal that FDI negatively impacts economic growth in the long term, although it has a positive effect in the short term. In contrast, gross fixed capital formation (used as a proxy for domestic investment) positively influences economic growth over the long term but has no significant short-term effect. Domestic savings are found to contribute positively to long-term economic growth, while having a negative impact in the short term. Exports exhibit a negative long-term effect on economic growth, despite their positive short-term impact. The robustness checks using FMOLS and DOLS largely confirm the results obtained from the PMG-ARDL model. Additionally, the causality analysis reveals a unidirectional relationship between economic growth, domestic savings, and FDI. These findings emphasize the importance of considering both the short-term and long-term effects of FDI on economic growth. Policymakers in the Baltic countries are advised to adopt strategic investment policies that balance the benefits and challenges of FDI to address its long-term impacts. The practical implications include the need for targeted policies to promote sustainable economic growth by addressing the dynamic interactions between FDI, domestic investment, and trade
Features of the Relationship between Corruption, Human Capital Components and Economic Growth (Case of EU Candidate Countries)
Full text linkThe changing geopolitical situation in the European region has actualized the issues of further EU enlargement. As a result, the relevance of studying many aspects of the functioning economic systems of candidate countries has increased. In this context, the purpose of this article is to identify the features of the relationship between economic growth, corruption, and human capital components in EU candidate countries. The study uses annual data for nine EU candidate countries from 1996 to 2021. The research methodology includes the following methods: correlation analysis; logarithm procedure; calculation of the Augmented Dickey-Fuller (ADF) test; calculation of the Granger causality test. The study found no causality in the cases of Albania, Bosnia and Herzegovina, North Macedonia, and Ukraine. The analysis showed that there is a causal relationship from Control of Corruption (CC) to GDP only in Moldova in the long term. In Montenegro, Serbia, and Turkiye, there is a causality from GDP and Life Expectancy at Birth (LEB) to CC. There is a direct causality from Education Index (EI) to GDP in Moldova, from LEB to EI in Georgia, and from LEB to GDP in Serbia and Montenegro. The study found differences in both the direction and strength of causality between components of human capital, control of corruption, and economic growth in the EU candidate countries. In some cases, there is no such relationship. All calculations were carried out using Statistica and EViews