International Journal of Contemporary Economics and Administrative Sciences
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The Propagation Mechanism of Financial Stress in the Context of Global Crises
Full text linkThis study examines the dynamic relationship between the uncertainty indices of various Asian countries and the Kansas City Financial Stress Index (KCFSI) of the United States using cross-wavelet transform analysis and Toda-Yamamoto causality test between the period of 2008:01- 2025:02. The findings reveal significant in-phase coherence, indicating that financial stress in the US often precedes increases in economic uncertainty across Asia, particularly during global crises like the 2008 financial crisis and the COVID-19 pandemic. The results highlight the varying degrees of coherence and lead-lag relationships across countries, reflecting differences in economic structures and integration into global markets. These insights emphasize the need for stronger regional financial cooperation, proactive economic policies, and robust risk management strategies to mitigate the impact of external financial shocks. The study concludes with recommendations for future research, including the exploration of additional factors influencing financial stress transmission and the role of emerging financial technologies in global economic stability.
 
Understanding Energy Poverty through the Perspective of Trade Openness and Foreign Direct Investment: An Empirical Case for Selected Latin American Countries
Full text linkEnergy poverty is still one of the critical problems for many countries. For this purpose, we try to assess whether trade openness and foreign direct investment are associated with energy poverty for the panel sample of Belize, Bolivia, Honduras, Mexico, Nicaragua, Panama, and Peru, spanning the period 1992-2020. The Panel Vector Auto Regression (PVAR) estimation results indicate that economic growth, trade openness, and foreign direct investment inflow reduce energy poverty by increasing access to electricity in these countries. Further, Panel VAR Granger causality findings show feedback causality linkage between energy poverty and trade openness, energy poverty and foreign direct investment inflow, economic growth and trade openness, and economic growth and foreign direct investment inflow. Moreover, the outcomes indicate that a bidirectional causality exists from economic growth to energy poverty and from trade openness to foreign direct investment inflow
The Impact of Domestic Economic Policy Uncertainty on Stock Returns in US States: An Empirical Study on the S&P500 Index
Full text linkUncertainties, which have significant effects on investment decisions, can have significant effects not only on investors' decisions but also on investment instruments and markets. In this context, uncertainties that may arise in economic policies that closely concern stocks and investors, which have an important place among investment instruments, can complicate investment processes and cause pricing in securities markets to be subject to deviations. In this study, the effect of the local economic policy uncertainty (EPU) index on the price movements of the S&P500 stock market index in the US states, developed in Baker et al. (2022) and obtained from the digital archive of approximately 3500 local newspapers, is tested. The study, which includes 52 variables in total, utilizes the EPU index of 51 US states and the monthly data of the S&P500 (SPX) index, the leading stock market index of the US, for the period February 2006-December 2023. The findings of the Granger (1969) causality test indicate that there is no statistically significant causality from the EPU index data of states such as Arkansas, District of Columbia, Delaware, Minnesota, Nebraska, New Hampshire, Rhode Island and South Dokato to the price movements of the S&P500 stock market index, while there is a statistically significant causality from the EPU index of the other 43 states to the price movements of the S&P500 stock market index
The Impact of War on Ukraine’s Tourism Sector: Global Challenges and Implications
Full text linkThe article examines the development of the tourism industry in the context of the war in Ukraine. It considers global challenges for the tourism business in the context of a security imbalance and analyses the sustainability and adaptability of tourism in Ukraine against the background of the outbreak of hostilities. It also outlines the prospects and directions for the revival and development of the tourism industry in the post-war period. The article aims to study the impact of the war in Ukraine on the formation of global challenges in the field of tourism, to analyse the extent of the damage caused, the problems and peculiarities of the development of the tourism industry in the context of war, and to assess the socio-economic sustainability of the tourism business and the prospects for its post-war recovery. The following research methods were used in writing the article: abstract and logical methods to summarise scientific approaches to the impact of war on the state and development of global tourism, systematisation methods to identify barriers and threats to the tourism business in times of war, and statistical analysis methods to assess tourism development indicators at the global and national levels. To assess the economic and social sustainability of tourism, the author proposes an own approach that combines the index method and the time series method to compare the growth rates of economic and social indicators of the tourism industry with similar indicators of the economy as a whole for a given period. The indicators used were: social indicators of tourism development (number of employees, average salary) and economic indicators (sales of tourism services, capital investments and profitability). The analysis results showed a relatively high economic resilience of tourism in Ukraine over the past six years, despite significant turbulence associated with the COVID-19 pandemic and the war, due to the high mobility and adaptability of the tourism business. Social sustainability is comparatively lower, as this sector uses numerous staff adaptations. A SWOT analysis of the tourism industry in Ukraine during the war was conducted, which allowed us to identify the main barriers and, strategic prospects and directions for the revival of the industry in the post-war period. The comparative analysis method was used to assess the impact of other conflicts on tourism and the possibilities of using the experience of post-war recovery (examples from Syria, Croatia, Israel, and Georgia). It is determined that the development of tourism in the post-war period will depend on ensuring security in the country and attracting investment and opportunities to diversify tourism products by the new conditions
How Does Economic Theory Write the History of Income Inequality? A Critical Perspective Based on History, Ideology and Politics
No full textThis study interrogates how economics, across its historical evolution, has operated not as a neutral science of wealth but as an ideological apparatus that constructs, legitimizes, and perpetuates inequality. By tracing the epistemic lineage from classical political economy to neoliberal globalization, it demonstrates how the discipline transformed relations of domination into relations of efficiency—translating moral questions of justice into the technical language of equilibrium. Each paradigm—Smithian harmony, Ricardian scarcity, Keynesian compromise, developmental modernism, and neoliberal moralism—performed a depoliticizing function: converting exploitation into productivity, class antagonism into policy adjustment, and hierarchy into merit. Through a critical–historical and ideological lens, the paper situates these transformations within their institutional and geopolitical contexts, revealing how the claim of scientific neutrality repeatedly served to naturalize capitalist power. The postwar welfare and developmental paradigms reimagined inequality as a transitional cost of modernization, while neoliberalism universalized it as virtue—embedding hierarchy in the global moral economy of competition, merit, and markets. Contemporary discourses of sustainability and inclusion, rather than transcending this logic, rebrand exploitation as progress. Ultimately, the paper argues that inequality is not an aberration of capitalism but its constitutive logic, sustained through the epistemic authority of economics itself. Reclaiming equality therefore requires reclaiming political economy as critique—reviving its emancipatory capacity to unveil the moral alchemy through which capitalism sanctifies injustice in the name of progress
Invisible Labor in Work Life: The Interaction Between Identification, Work Immersion, and Stress
Full text linkThis study presents an empirical analysis of the complex dynamics among job stress, emotional labor, organizational identification, and job engagement. The primary objective is to examine how job stress affects the dimensions of emotional labor within the context of organizational identification and job engagement. The research is based on a published 2022 PhD dissertation. The sample consists of 400 employees from the ground services sector of the aviation industry in the Marmara Region, selected using a convenience sampling method. Data was collected through comprehensive surveys. The findings reveal statistically significant relationships between emotional labor and job stress, as well as the effects of job engagement on job stress and emotional labor. Furthermore, the results confirm the indirect influence of organizational identification and job engagement on job stress, supporting the research hypotheses. This study provides valuable insights into emotional labor, stress management, and organizational behavior within the aviation industry. It extends previous research by integrating job engagement and emotional labor into the relationship between organizational identification and job stress, offering a novel contribution to the literature on emotional labor in the aviation industry
A Bibliometric Analysis Using VOSviewer on the Concept of “Tax Privacy/Confidentiality” and Prominent Themes
Full text linkThis study conducts a bibliometric analysis of the concept of tax privacy using data from the Web of Science (WoS) database and analyzes those data with VOSviewer visualization software. The objective is to map the intellectual structure, thematic evolution, and research trends in the field of tax privacy, a niche yet increasingly relevant topic at the intersection of law, information systems, and fiscal governance. The analysis covers 401 publications indexed between 1972 and 2025, primarily in the Social Sciences Citation Index (SSCI), the Emerging Sources Citation Index (ESCI), and the Science Citation Index Expanded (SCIE). The Findings indicate a significant rise in scholarly output after 2000, with a sharp increase after 2020, reflecting the growing integration of digitalization and data protection into fiscal systems. Most of the studies were published in the fields of law (89), computer and information sciences (65), and economics (68). Co-authorship and citation network analyses reveal that Miltgen, Popovic, and Oliveira are the most cited, with 301 citations, whereas Burman and Leonard are the most productive and most collaborative. Keyword co-occurrence mapping highlights key research clusters centered on privacy, blockchain, security, cryptocurrency, data protection, e-government, and tax evasion, demonstrating the convergence between tax confidentiality and emerging digital technologies. The results underline the increasing importance of tax privacy as a multidisciplinary research field, linking technological innovation, legal design, and ethical data governance. The study provides a foundational map for future research into protecting taxpayer data in evolving digital tax ecosystems
The Mediating Role of Brand Equity in the Effect of Brand Relevance on Perceived Financial Performance: A Comparison of Private and Public Banks in Türkiye
No full textThe purpose of this study is to explore the effect of brand relevance (BR) on perceived financial performance (PFP) and whether there is a mediating role of brand equity (BE) in this effect. The study also aims to compare private and public banks in terms of this effect and the mediating role of BE. The data collected from 201 public and 201 private bank customers through an adapted questionnaire was analyzed with SPSS software and Process Macro. The results reveal that for both public and private banks, BR on both PFP and BE and also BE has a significant positive effect on PFP, and BE plays a significant positive mediating role in the effect of BR on PFP. All these effects and the mediating role of BE are slightly higher for public banks than for private banks. The originality of this study is that it proposes a conceptual model from the consumer perspective that demonstrates the relationships between BR, BE and PFP, as well as the mediation of BE in the effect of BR on PFP and empirically tests this model for private and public banks
How Can We Use Artificial Intelligence and Machine Learning in Accounting and Auditing: An Engineering Overview with the Mapping Method in the Field of Business
Full text linkToday, the industry faces data-related challenges stemming from the use of artificial intelligence. Similarly, sustainability challenges in real world applications also arise. One of these is the accounting and auditing fields. Because of how to use artificial intelligence in this field and what technical approaches are not known enough. This study presents a machine learning approach with engineering and technical view. Because of the technical complexity, the papers on artificial intelligence and machine learning in accounting and auditing are often hard to evaluate and need a clear understanding of critical methodological parts. This paper aims to guide the key methodological aspects of artificial intelligence and machine learning for non-expert researchers of accounting and auditing. The proposed paper draws up the general framework for the use of machine learning, a sub-branch of artificial intelligence, in sustainable accounting studies. The most frequently used classification methods for accounting data and the metrics used in the evaluation of the results have been explained. In addition, the framework of recent studies such as bankruptcy prediction, financial distress, corporate failure, accounting fraud prediction, tax compliance problems, and financial difficulties conducted with accounting and auditing data has been examined. One of the findings obtained from this study is that although many studies in literature mention artificial intelligence with a few words, they decorate the title or keywords of the study with artificial intelligence. Keyword analyses are also among the findings of the study. All findings of the analysis emphasize the increasing importance of artificial intelligence in the field of accounting and auditing and the diversity of research in this field. If the notion of artificial intelligence is one of the essential components of future research, this study advises researchers to use it carefully in the study's title and keyword
Impact of Trade Openness, Green Energy, Economic Growth and Military Expenditures on Carbon Emissions in E-7 Countries: Panel Quantile Regression
Full text linkIncreasing economic growth and environmental improvement are the ways to achieve sustainable development goals. In developing countries, increases in military expenditures, which are part of public expenditures, and the level of foreign trade may affect environmental quality. This study examines the impact of economic growth, trade openness, green energy and military expenditures on carbon emissions in E-7 countries for the period 1993-2023. The results confirm the existence of cross-sectional dependence, slope heterogeneity and cointegration relationship among the variables. Panel quantile regression results show that economic growth and trade openness increase carbon emissions and decrease environmental quality, while green energy and military expenditures reduce carbon emissions and increase environmental quality. The results are checked for robustness using FMOLS, DOLS, FE-OLS and Driscoll-Kraay estimators’ long-term estimators and the results confirm the quantile regression results. These results provide important policy insights for E7 countries, which have significant potential in terms of the world economy. The study findings provide a broad perspective on environmental problems