Turkish Economic Review
Not a member yet
212 research outputs found
Sort by
The Role of Information Technology in Patient Satisfaction
No full textAbstract. Competition comes into prominence in health field as it is in all the fields in the world and in Turkey. The companies pursue the recently established information systems and market fit closely in order to increase the competitive power. Turkey is experiencing quite radical transformations in health-care sector during the last 10 years. In this sense, the objective of the study is to determine the usage level of Central Physician Appointment System (CPAS) within the scope of technology acceptance model. When the context of the model is examined, the degree of turning the positive perceptions such as benefits, convenience that the customers perceive from this technology when they came face to face with this technology, to attitudes and behaviors is measured. As a result of the research, the electronic appointment system, which has started to be applied within the health-care sector, was considered positively on the basis of benefits and convenience and in parallel with this the their attitudes behaviors were affected positively.Keywords. Patient Satisfaction, Central Physician Appointment System,Technology Acceptance Model, Information Systems.JEL. C38, I18, L88
Keynesian Spiritus Animales Approach and the Transformation of the Capitalist System
No full textAbstract. Economic crises have radical consequences. They are major challenges for national and international social policy. The crises are also the cause of reform and of re-definition of theories. The Keynesian approach also emerged from an economic crisis and it has reformed the capitalist system. However, the Keynesian theory itself now needs to be reformed. This paper aims to bring light into the Keynesian theory and the transformation process of capital system. Finally, as lessons for the future two conclusions arise: Firstly, policy makers shall continue to have the assumption that economic crises do not have a simple and permanent solution, which is valid at any time. Secondly, it needs not only traditional economic policies, but especially institutional reforms and new innovative perspectives. In this respect, the Keynesian definition “animal spirit of capitalism” can be useful in predicting the next policy of the liberal economy in the age of globalism.Keywords. Keynes, Capitalism, EU, Economic Transformation, Globalization.JEL. A14, B20, B52, F01
Social Municipality Perception in Turkey: A Case Study in the Istanbul, Izmir, Adana, Diyarbakır Metropolitan Municipalities
No full textAbstract. Social municipality, in the broadest sense, can be defined as an approach, to develop citizen and community-based practices where municipalities focuses on human on its policies. Tracks of this mentality in Turkey dates back to 90's when approach expanded its impact area with personal efforts of some mayors and has been accepted as an vital element of policy on promotion and competition of cities. Social municipality applications mostly shaped as social aids, social services and cultural activities. The purpose of this thesis is to detect the scope of the social municipality based services which has been performed by metropolitan municipalities and also defining the perception and attitude of the beneficiaries and practitioners toward those services. To achieve this purpose, a literature review about social state/welfare state, social politics and social municipality presented. Followingly had explained social municipality based services which has conducted by metropolitan municipalities. Finally, data obtained from the field research was analyzed with frequency distributions, one-sample t-test, two independent samples t-test and chi-square tests by using SPSS package software. At the end of study, it was found that scope of social services varies between metropolitan municipalities, however faced problems look similar. And also significant perceptional and attitudinal differences found between beneficiaries and practitioners toward social municipality based services.Key Words: Public Administration, Local Governments, Welfare State, Social Policy, Social Municipality. JEL. D73, H00, H70, H75, I00
Social Obstacles to Technology, Technological Change, and the Economic Growth of African Countries: Some Anecdotal Evidence from Economic History
No full textAbstract. This paper comments on a number of social obstacles to the economic growth and technological change of African economies from the perspective of economic history. Economic history is full of evidence about what held African economies back for years. Some obstacles are of domestic origin such as excessive consumption and luxury masqueraded as public investment. Other obstacles were imposed from outside such as the destruction and weakening of traditional African religions and religious leadership as well as other wide ranging institutions. The combined effects can be summed up in one word: de-institutionalization. De-institutionalization devalued local knowledge (technology) thereby reducing performance. It is not possible to turn the clock back, but current policy is better-off bringing these obstacles into discussion as they stand a good chance of lowering the socalled “Africa dummy” variable common to growth regressions. Future research would also benefit if it sought to adjust conventional economic theory to allow space for the special features of African economies. Market theory is misleading in treating private use rights as antithetical to private ownership rights. For example, the suggestion that land tenure in Africa is anti-growth is inconsistent with the spectacular growth China has experienced even without private property rights.Keywords.Social obstacles, Growth and change, African economies, ‘Primitive’ economies, African traditional economies.JEL.N17, N27, N87, O33, O43, O55; P47, P52
Econo- and Socio- Physics based Remarks on the Economical Growth of the World
No full textAbstract. It has been shown that the long term evolution of the Gross Product of the World after World War II can be well portrayed by the simply exponential function with the crossover at the year 1973, which coincides with the Oil Crisis onset. For such basic parameter as the S&P 500 index the single exponential behavior extends down to at least the mid of the nineteen century. It is notable that the detailed short-term insight focused on the last quarter of century revealed the emergence of the power like dependence, despite notable irregularities. However, such dependences can be introduced only when taking into account the behavior at reference-baselines years, clearly related to the society – important events in the past. The possible relationship to the growth/death evolution of microorganisms is also discussed.Keywords. Global product growth, Econophysics, Sociophysics, Microbiology.JEL.E20, F43, D24
Estimating the Size of the Shadow Economy: Methods, Problems and Open Questions
No full textAbstract. This paper presents various methods for estimating the size of the shadow economy and analyzes their strengths and weaknesses. The purpose of the paper is twofold. Firstly, it demonstrates that no ideal method exists to estimate the size and development of the shadow economy. Because of its flexibility, the MIMIC method used to get macro-estimates of the size of the shadow economy is discussed in greater detail. Secondly, the paper focuses on the definition and causal factors of the shadow economy and provides a comparison of the size of the shadow economy using different estimation methods.Keywords. Shadow economy estimates, MIMIC approach, Methods to estimate the shadow economy, Advantages and disadvantages of the measurement methods.JEL. D78, E26, H2, H11, H26, K42, O5, O17
Impact of the Revised Malaysian Code on Corporate Governance on Audit Committee Attributes and Firm Performance
No full textAbstract. Using a sample of 37 finance companies listed under the finance segment of Bursa Malaysia, we examined the impact of the revision to Malaysian code on corporate governance on audit committee attributes and firm performance. Our result suggests that audit committee attributes significantly improved after the Code was revised. In addition, the coefficient for audit committee and risk committee interlock has a significant negative relationship with Tobin’s Q in the period before the revision to the Code and before the global financial crisis. The negative direction of the result is contrary to agency theory which suggests that separating directors on subcommittees will create information asymmetry between the directors and lead to poor coordination in the decisions of the committees thereby negatively affecting firm performance.Keywords. Corporate governance, Audit committee, Independent directors, Expert directors, performance, Executive Membership, Directors Interlock, Malaysian Code on Corporate Governance.JEL. G21, O16, O17
Wealth-In-Utility and Time-Consistent Growth: Real Excursions with an “Overlapping” Welfare Function
No full textAbstract. This research explores the dynamic potential of point-wise utility functions optimization of representative agent economies. Such functions were generically considered to depend upon current consumption and wealth to be made available for next period usage or income generation, implying an endogenous (pseudo-)rate of time preference. At first inspection, the framework reproduced closely the dynamics and steady-state properties of the traditional Solow-Swan and Ramsey models – with population growth, exogenous technical progress, land, or increasing returns to scale - as well as, when human capital/knowledge was introduced, the Lucas-Uzawa endogenous growth set-up. General uncertainty – simulated at different decision stages - resulted in intuitively appealing solutions. Overlapping optimization of the capital stock generated forward-looking recursive dynamics. Homothetic preferences (CES or generalized Cobb-Douglas) - implying a constant consumption-(lead)wealth ratio along an optimal path and resulting in steady-state saving rates independent of CRS technologies features in simple structures -, were assumed for illustration, and also generic separable forms in the arguments. The latter were useful under uncertainty, allowing the inspection of the role of risk-aversion and diminishing marginal returns to capital in equilibrium and steady-state determination.Keywords. Wealth-in-Utility (WIU); Capital-in-Utility (KIU). Overlapping Utility Functions. Consumption; Saving. Growth. Time (In)Consistency. Discounting; Rate of Time Preference. Growth under Uncertainty.JEL. D91; D11. E19. O40
Forecasting Daily Stock Volatility Using GARCH-CJ Type Models with Continuous and Jump Variation
No full textAbstract. In this paper we decompose the realized volatility of the GARCH-RV model into continuous sample path variation and discontinuous jump variation to provide a practical and robust framework for non- parametrically measuring the jump component in asset return volatility. By using 5-minute high-frequency data of MASI Index in Morocco for the period (January 15, 2010 - January 29, 2016), we estimate parameters of the constructed GARCH and EGARCH-type models (namely, GARCH, GARCH-RV, GARCH-CJ, EGARCH, EGARCH-RV, and EGARCH-CJ) and evaluate their predictive power to forecast future volatility. The results show that the realized volatility and the continuous sample path variation have certain predictive power for future volatility while the discontinuous jump variation contains relatively less information for forecasting volatility. More interestingly, the findings show that the GARCH-CJ-type models have stronger predictive power for future volatility than the other two types of models. These results have a major contribution in financial practices such as financial derivatives pricing, capital asset pricing, and risk measures.Keywords. GARCH-CJ, Jumps variation, Realized volatility, MASI Index, Morocco.JEL. C22, F37, F47, G17
Borrowers’ Participation in Group Borrowing
No full textAbstract. Borrowers’ participation in MFI group lending credit market is not insured because of the alternative sources of credit available. The question arises what is the ideal MFI interest rate to ensure borrowers’ participation which at the same time being financially viable for MFI. The paper attempts to answer this question and analyzes the borrowers’ trade-off of borrowing from MFI or from moneylender (ML). Results show that borrowers may find comparative advantage in borrowing individually from ML as compared to borrowing in a group from MFI if the transaction cost burden is high and their credit requirement is low.Keywords. Microfinance, Group lending, Informal finance, Transaction cost, Effective cost.JEL. G21, O16, O17