Unemployment rates, also swiftly rising by the effect of 2008 crisis, are one of the most important macro-economic problems in most of the countries. This problem brings about domestic demand constriction and slowdown in economic growth. Unless a solution is found, long-lasting high unemployment rates may result in some significant social and economic costs. In order to solve this problem, states try to develop and apply different policies. Exports and foreign direct investments may be important solution instruments to decline unemployment. In this study, the effect of export and foreign direct investments on unemployment was analysed by boundary test approach with three different models by using the data of the period 2000:Q1-2011:Q1. As a result of the analysis, it was seen that series are in co-integrated relationship. According to the empirical evidences, in long term, export and foreign direct investments have a declining effect on unemployment and the influence of export is higher. In short term analysis, error correction terms of the models was found statistically significant and negative, that is, the deviation in short term among the series disappears in long term.

Keywords:Employment, Exportation, Foreign Direct Investment, Turkey.

The main aim of this paper is to investigate on banking crises which stemming from asymmetric knowledge problems in financial system. Asymmetric information and its related problems have a great influence on the functioning of financial markets. Finance literature underlines that banking firms are special intermediaries due to systemic risk concerns. In post liberalization interest rate tends to rise and moral hazard and adverse selection problem exist at firm level in banking business because of lack of adequate supervision. As is typically argued, unless liberalization is accompanied by sufficient prudential supervision of the banking sector, it will result in excessive risk taking by financial intermediaries and a subsequent crisis. In this paper excessive risk taking behavior of banking firms analyze with using a theoretical framework of New Keynesian that the “credit rationing model” offers, and moral hazard, adverse selections problems causing bank failure are discussed.

Keywords:Banking Crises, Asymmetric Knowledge, Excessive Risk Taking, Credit Rationing, Banking Firm

Instead of making R&D expenditures, developing countries generally obtain technology either directly by transferring technology or indirectly by importing technology contained commodities. In this study, using the Turkey’s case, the relationship between foreign trade and economic growth is investigated in terms of knowledge transfer through foreign trade for the period 1989-2009. Using Johansen cointegration method and VAR methodology, the effect of knowledge transfer through foreign trade on economic growth is investigated in terms of direction and dimension. The estimations reveal that knowledge transfer through capital and intermediate goods imports has no significant effect on economic growth of Turkey in the period investigated. Comparisons of variables show that the effect of knowledge transfer through less knowledge contained intermediate goods imports is higher than the effect of knowledge transfer through high knowledge contained capital goods imports. This result implies that Turkey should import more capital goods and have enough human capital to use technology within capital goods.

Keywords:Foreign Trade, Economic Growth, Knowledge Transfer, Johansen Cointegration Test, VAR Analysis

A developing country like Pakistan is heavily dependent on the oil as inputs for almost every industrial sector therefore increase in oil prices, increases inputs cost, consequently increasing production costs and unemployment rate. Existing literature has mostly focused on the relationship between unemployment and oil prices of developed countries, the current study used the data from developing country Pakistan to investigate the relationship between oil prices and unemployment. The current study used monthly data from the period 1991:01–2010:12, making 238 observations of each variable for analysis and employed Toda Yamamoto causality test. The results of current study suggested the significant effect of oil prices on unemployment but found no significant association between real interest rate and unemployment, thus findings of current study are partially consistent with the efficiency wage model. Furthermore, results suggest that real oil prices cause significant changes in the real interest rate in Pakistan. It can be concluded from the results that oil prices can be used in long run to improve the forecasting of unemployment and real interest rate.

Keywords:Oil prices, Interest rate, Unemployment, Efficiency Wage Model, Toda-Yamamoto

A developing country like Pakistan is heavily dependent on the oil as inputs for almost every industrial sector therefore increase in oil prices, increases inputs cost, consequently increasing production costs and unemployment rate. Existing literature has mostly focused on the relationship between unemployment and oil prices of developed countries, the current study used the data from developing country Pakistan to investigate the relationship between oil prices and unemployment. The current study used monthly data from the period 1991:01–2010:12, making 238 observations of each variable for analysis and employed Toda Yamamoto causality test. The results of current study suggested the significant effect of oil prices on unemployment but found no significant association between real interest rate and unemployment, thus findings of current study are partially consistent with the efficiency wage model. Furthermore, results suggest that real oil prices cause significant changes in the real interest rate in Pakistan. It can be concluded from the results that oil prices can be used in long run to improve the forecasting of unemployment and real interest rate.

Anahtar Kelimeler: Oil prices, Interest rate, Unemployment, Efficiency Wage Model, Toda-Yamamoto

We investigate the effectiveness of Benford’s Law through a digital analysis of the off-balance sheet account disclosures made by Turkish Banks during the 1990-2010. We found that off-balance sheet account disclosures of the fiscal term 1999 doesn’t comply with Benford’s Law. Our finding is consistent with the Turkish Banks’ practices. We also provide evidence on “The Law of Anomalous Numbers”. Our results indicate a link between economic policy and deviation from frequencies of Benford’s Law.

Keywords:Benford’s Law, Digital analysis, Banking sector, Fraud investigation

This paper proposes a multi-regional growth model with endogenous human and physical capital in a perfectly competitive economy. Structurally it is an extension of the Uzawa-Lucas model to an interregional economy, even though this paper models behavior of households in an alternative way and introduce Arrow’s learning by doing and Zhang’s creative leisure (or learning through consuming) in modeling human capital accumulation. The small-open economy consists of multiple regions and each region has production, one education and one housing sector. The production side is the same as in the neoclassical growth theory. Households move freely among regions, making decisions on levels of choosing housing, education, good, consumption and saving. A region’s amenity which affects households’ decisions is endogenous, depending on the region’s output and population. The model describes a dynamic interdependence among wealth accumulation, human capital accumulation, time distribution (among leisure, work and education) and division of labor with endogenous wealth and income distribution among regions under perfect competition. This study also simulates the motion of the national economy and examines effects of changes in some parameters.

Keywords:Education, human and physical capital, multiple regions, amenity, agglomeration

In the last decade a process improvement technique, known as Six Sigma, is implemented by many pioneers of the industry as an approach used to more productive and increase profits in all business process from production to human resources management, from finance to marketing.

The companies would like to keep and improve their position in a daily changing world market while new techniques and concepts are introduced to the global markets every day and this is only possible through continuous improvements and breakthroughs. In this study, it has been presented the six sigma practice of a power plant owned by Enerjisa, a major energy company in Turkey. In order to achieve Six Sigma project targets, quality techniques and statistical techniques (hypothesis testing, design of experiment etc.) are used.

Keywords:Six Sigma, Quality, DMAIC

From 1980s to today social welfare idea was changed and a neoliberal economic thought takes its place. In 1989, Berlin Wall and then Soviet Union was collapsed which is also the reason for free market system and privatization in transition economies of Eastern Europe. Developing countries in general were also modified their trade and competing policies. Today, globalization has lifting the barriers on capital inflows but also the financial transactions. From another view, it changes policies and triggers integration of world economies. As a result of this process, taxation of international transactions is becoming a more interesting subject in time being. As known, the growing international financial activities and transactions have also some effects on the countries’ financial structure, direct or indirect ways. Since 1990s, these increases have some benefits for helping to overcome the problems of liquidity or investment. On the other hand, it has some financial instability kind contrary effects which make countries’ development process into question. In this study, financial transaction phenomenon will discuss and then taxation proposes will suggest for instability cases.

Keywords:Financial Transaction Tax, Tobin, Spahn, Robin Hood, International Taxation

The purpose of the study is to adapt Organizational Virtuousness Scale which was developed by Cameron, Bright and Caza (2004) into Turkish and investigate the validity and reliability analysis of the scale. It can be referred to the studies in our country as organizational virtuousness has become an important and popular concept in the field of Organizational Behavior with its relationship to other organizational variables. The study was conducted with 290 employees from different subsectors of service industry (education, finance, health). Exploratory factor analysis and confirmatory factor analysis were conducted for validity studies; reliability analyses were conducted to understand the internal validity of the model. According to the results of the study, it was found that Organizational Virtuousness Scale is a valid and reliable and it is explained by integrity and forgiveness, trust and courtesy and optimism dimensions.

Keywords:Organizational Virtuousness, Validity, Reliability