Turkish Economic Review 

SEKMEN, Özlem

Turkish Economic Review 
www.kspjournals.org 
Volume 1                       December 2014                          Issue 1 
 
4
th 
International Conference on Economics,  
ICE-TEA 
*
 
 
By Özlem SEKMEN 
†1
 
 
Conference Notes 
his paper summarizes the presentations and the speeches of the conference 
“4th International Conference on Economics, ICE-TEA” which held on 18-
20 October 2014. The aim was to discuss the risks, identify and suggest 
solutions to the current problems about the main theme of the conference, which 
was “Global Stability and Growth and the State of Economics”. 
In the first opening speech Governor of Central Bank of Turkey Erdem Başçı 
mentioned three topics „Economic Activity and Rebalancing‟, ‟Inflation‟, and 
„Monetary and Financial Conditions‟ regarding macroeconomic outlet and 
monetary policy. 
Başçı stated that global demand remains weak, while the contribution of 
domestic demand to growth is increasing also the moderate course of consumer 
loans and the favorable terms of trade may contribute to the improvement in the 
current account balance in Turkey. 
In terms of inflation Başçı pointed out that macro prudential measures taken at 
the beginning of the year and the tight monetary policy stance continue to have a 
favorable impact on the core goods inflation. He gave information about Central 
Bank‟s policy on inflation stating that inflation expectations, pricing behavior and 
other factors that affect inflation will be closely monitored and the tight monetary 
policy stance will be maintained, by keeping a flat yield curve, until there is a 
significant improvement in the inflation outlook. 
In the following opening speech, Minister of Finance Mehmet Şimşek pointed 
out structural transformation reforms, which includes areas such as increasing 
savings, decreasing dependence on foreign energy, and improving human capital 
quality. Şimşek also highlighted the importance of the quality of intuitions on 
sustainable development and stated that Turkey has moved forward with financial 
sustainability. 
Stating that Turkey‟s external debt GDP ratio is smaller lower than OECD, 
European and other developing countries Şimşek underlined the fact that although 
many other developing countries are rich in natural resources Turkey is financially 
in a good position. 
In sum, Minister Şimşek emphasized the growing importance of Turkey in 
global stability and growth in recent years.  
With many individuals and institutions‟ participation more than 250 papers 
presented in three days during the conference. 
 
   * Akka Antedon Hotel, Beldibi 1 Mevkii, Kemer, Antalya, Turkey. 18-20 October 2014. 
1 † Gümüşhane University, Department of Economics, Bağlarbaşı Mah. 29000, Gümüşhane, Turkey. 
. +90456 233 75 01/22 31. . osekmen@gumushane.edu.tr 
T 
Turkish Economic Review 
  TER, 1(1),Ö. Sekmen. p.29-30. 
30 
In the first session „Crises‟ with Tuncer Bulutay‟s (Ankara University) 
chairmanship four papers presented. In sum, the similarities between the 
occurrence of financial crises and the macroeconomic indicators such as 
employment rate and balance of trade were discussed. Also the importance of 
OECD Corporate Governance Principles was highlighted. In the light of these 
presentations discussions were made on the possible scenarios of economic crises 
that Turkey may face.  
Middle-income trap and growth, which is one of the hot topics regarding 
Turkey‟s economic position, has been handled in middle-income trap and growth 
session. In their presentation „Does Turkey Suffer from Middle Income Trap or Is 
Stuck in Permanent Low Growth?‟ Suut Doğruel and Fatma Doğruel (Marmara 
University) addressed Turkey‟s position during the post Second World War period. 
They stated that within its economic and political institutions and stuck off physical 
and human capital Turkey may reach its economic growth limit.  
In another presentation Can Tansel Tuğcu (Nevşehir Hacı Bektaş Veli 
University), indicated issues such as education, quality of labor force, value added 
industry, high tech R&D are key elements of escaping from middle income trap. 
In the second day of the conference, in the session of „Income Inequality and 
Distribution‟ papers presented in issues such as income levels separation, the 
relationship between ethnicity and income differences, and re-distributional 
policies on income distribution and poverty.  
Invited speaker Walter Enders (University of Alabama) presented a paper 
„Poverty, Radicalism, and Terrorism‟ which holds the issue of growth from a 
different perspective. Based on the results of their study‟s econometrics analyses he 
argued that there is a relationship between real per capita GDP and terrorism in 
lower-income countries.  
Apart from the issues mentioned above, a number of sessions were held on 
topics; monetary policy, energy and environment, labor markets, money and 
finance, labor and poverty, inflation and banking, gender and poverty.  
To summarize, in Turkey case while some of the presentations were 
parallel to the arguments of Şimşek and Başçı, which were Turkey‟s 
economic position from an optimistic perspective, a number of studies 
stressed the problems Turkey struggles and may face in future. 
 
 
 
 
 
 
 
 
 
 
 
Copyrights 
Copyright for this article is retained by the author(s), with first publication rights granted to 
the journal. This is an open-access article distributed under the terms and conditions of the 
Creative Commons Attribution license (http://creativecommons.org/licenses/by-nc/4.0). 
 


English

4th International Conference on Economics, ICE-TEA, Turkey

Econ. Rev., Turk.

  
 
 
 
 
 
 
 
 
 
 
From the Editor 
 
Bilal KARGI……….……….………………………………………………. 1 
  
Articles  
 
Determinant of Bank Profitability in Turkey: An Empirical Analysis on Types 
of Banking from 2002 to 2012 
Eşref Savaş BAŞÇI & Öznur SAKINÇ…….….….…..…............................... 3 
 
The Contradictions of Free Market System and The Impacts of FDI and 
Foreign Trade on Economy 
Hasan ALPAGU ……………………..…………………………................... 7 
 
Export Price Stability and Compatibility of Euro under the Export- Biased 
Productivity Growth in Turkey: A Criticism against the Maastricht 
Inflation Criterion  
Emre UNAL………….…………………….………….…………………… 16 
  
Book Review  
 
Alptekin Güney, New Working Paradigms and Attitudes [Yeni çalışma 
Paradigması ve Tutum] 
Kerem TOKER ………………………………………………………......... 21 
  
Conference Notes  
 
4th International Conference on Economics, ICE-TEA  
Özlem SEKMEN……………………………………….……………….….. 24 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Turk. Econ. Rev. ISSN 2149-0414  
 
2014 
1(1) 
 
Turkish   
Economic   
Review 
 
ISSN: 2149-0414 
Turkish Economic Review 
 www.kspjournals.org 
 
Bilal Kargı                     Editor 
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Turk. Econ. Rev., December 2014, 1(1) 
 
Turkish Economic Review 
 www.kspjournals.org 
Volume 1                       December 2014                          Issue 1 
 
 
From the Editor 
Bilal KARGI…………………………….….….………..….…….…….…... 1 
  
Articles  
 
Determinants of Bank Profitability in Turkey: An Empirical Analysis on 
Types of Banking from 2002 to 2012 
Eşref Savaş BAŞÇI & Öznur SAKINÇ…………..………………................. 3 
 
The Contradictions of Free Market System and The Impacts of FDI and 
Foreign Trade on Economy 
Hasan ALPAGU …….…….….….….….………………….….…….……... 7 
 
Export Price Stability and Compatibility of Euro under the Export- Biased 
Productivity Growth in Turkey: A Criticism against the Maastricht 
Inflation Criterion  
Emre UNAL.……………………......………………….…..........….….…… 16 
  
Book Review  
 
Alptekin Güney, New Working Paradigms and Attitudes [Yeni çalışma 
Paradigması ve Tutum] 
Kerem TOKER …….….….…..….….….….…..…..…….…….….………. 26 
  
Conference Notes  
 
4th International Conference on Economics, ICE-TEA  
Özlem SEKMEN……………………………………………….……….….. 29 
 
 
 
 
 
 
 
 
Copyrights 
Copyright for this article is retained by the author(s), with first publication rights granted to 
the journal. This is an open-access article distributed under the terms and conditions of the 
Creative Commons Attribution license (http://creativecommons.org/licenses/by-nc/4.0). 
 
Turk. Econ. Rev. ISSN 2149-0414  
 


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4th International Conference on Economics, ICE-TEA, Turkey

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