11 research outputs found

    Turkey and European Union Relations: Concept of Customs Union

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    Turkey is the only pluralist secular democracy in the Moslem world and has always targeted herself as being part of the western world and values. Turkey started to establish close economic relations with Europe by the 1963 Ankara Agreement. By 1995, Turkey abolished most of the barriers in her trade through a customs union agreement with the European Union. Customs union is widely discussed in the sense that the terms of trade between the two sides have not evolved in favour of Turkey. However evidence shows that Turkey did not experience any extreme changes in its import figures as were feared before the beginning of the agreement. As a result of customs union, economically Turkey became more advantageous than many other candidate countries despite her unhealthy economic statistics especially in the area of inflation and per capita income. Turkey would have the chance to benefit more from the customs union after it completes its ongoing economic reforms, which would bring more stability and power to the Turkish economy.

    Cyprus-EU Relations: Possible Scenarios For The Future

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    Cyprus Problem is being discussed from a different perspective since the application of South Cyprus for full membership to the European Union. Today the problem came to a turning point where the efforts for solving the problem would end up at a point where the division of the island becomes permanent. The study first evaluates the relations between Cyprus and the Union. Then it examines the application of GCA to the EU, the reasons for application, Turkish Cypriot’s response to the application and possible future scenarios that are likely to take place. It is concluded that the acceptance of Cyprus to the Union in its current state is a highly possible scenario and this would lead to the permanent division of the island.Cyprus problem; EU; Turkish Cyprus; GCA

    The Livestock Sector in the Turkish Republic of Northern Cyprus: An Examination of Red Meat Sector

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    This study generally analyses the livestock sector in the TRNC and the red meat sector in particular. The historical overview and economic structure of the TRNC show the importance of the agricultural sector for the TRNC. In order to understand the red meat sector in general, first the international red meat sector is examined shortly and then the red meat sector in the TRNC is analysed. The research data rely on a descriptive analysis based on the interpretation of primary and secondary data from the official websites of the Ministry of Agriculture of Northern Cyprus and Food and Agriculture Organization of the United Nations (FAO). TRNC does not have a liberal economy and import of red meat is strictly forbidden to the country. However, recently, discussions regarding liberalising the import of red meat led to further discussion of the problems experienced in red meat production and the factors affecting costs of production. The decision to import red meat supports the depth of existing problems in this field today. This study aims to reveal the necessity of policies that will bring possible solutions to overcome the structural problems in the red meat sector.  

    Turkey and European Union Relations: Concept of Customs Union

    Get PDF
    Turkey is the only pluralist secular democracy in the Moslem world and has always targeted herself as being part of the western world and values. Turkey started to establish close economic relations with Europe by the 1963 Ankara Agreement. By 1995, Turkey abolished most of the barriers in her trade through a customs union agreement with the European Union. Customs union is widely discussed in the sense that the terms of trade between the two sides have not evolved in favour of Turkey. However evidence shows that Turkey did not experience any extreme changes in its import figures as were feared before the beginning of the agreement. As a result of customs union, economically Turkey became more advantageous than many other candidate countries despite her unhealthy economic statistics especially in the area of inflation and per capita income. Turkey would have the chance to benefit more from the customs union after it completes its ongoing economic reforms, which would bring more stability and power to the Turkish economy

    Agricultural Trade and Its Determinants: Evidence from Bounds Testing Approach for Turkey

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    This paper empirically analyses the long run relationship between agricultural trade performance and real exchange rate in Turkey by using quarterly data covering 1994:Q1-2012:Q3. The other factors that are expected to effect agricultural trade balance such as ratio of export and import prices of agricultural goods, producer prices, real income of the country are also added to the model. For this purpose, bounds test approach for co-integration and ARDL (Autoregressive Distributed Lag) method are used to show the existence of long-term relationship between agricultural trade balance and its determinants in Turkey. The results show that real exchange rate, real GDP, and agricultural producer prices are highly significant and have negative impact on determining agricultural trade balances in Turkey. Consequently, findings suggest that the policies or reforms that reducing producer prices and using new technologies to increase productivity may help to create trade surplus in agricultural trade of Turkey. Keywords: Agricultural Trade, Turkey, Bound Test Approach JEL Classifications: Q17, Q18, F1

    Cyprus-EU Relations: Possible Scenarios For The Future

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    Cyprus Problem is being discussed from a different perspective since the application of South Cyprus for full membership to the European Union. Today the problem came to a turning point where the efforts for solving the problem would end up at a point where the division of the island becomes permanent. The study first evaluates the relations between Cyprus and the Union. Then it examines the application of GCA to the EU, the reasons for application, Turkish Cypriot’s response to the application and possible future scenarios that are likely to take place. It is concluded that the acceptance of Cyprus to the Union in its current state is a highly possible scenario and this would lead to the permanent division of the island

    The Contribution of Agricultural Sector on Economic Growth of Nigeria

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    Agriculture is a panacea for economic growth (Gunner Myrdal, 1984). The battle for long-run economic growth is either won or lost in the agricultural sector. However, how this path births economic prosperity has been the subject of debates among economist and development scholars. This study empirically examines the impact of agricultural sector on the economic growth of Nigeria, using time series data from 1981 to 2013. Findings revealed that Real Gross Domestic Product (RGDP), agricultural output and oil rents have a long-run equilibrium relationship. Vector Error Correction Model (VECM) result shows that, the speed of adjustment of the variables towards their long run equilibrium path was low, though agricultural output had a positive impact on economic growth. It was recommended that, the government and policy makers should embark on diversification and enhance more allocation in terms of budgeting to the agricultural sector. Keywords: Agriculture, economic growth, time series, cointegration and vector error correction model (VECM). JEL Classifications: O13, Q32, Q3

    Application of Cyprus to the European Union and the Cyprus Problem

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    The Cyprus problem became a subject that not only threatens the acceptance of Cyprus to the European Union but the whole enlargement process as well. Greece strongly supports the acceptance of Cyprus to the Union even without a solution to the Cyprus problem. On the other hand, other EU members and Turkey firmly reject this proposal. The study evaluates the application of South Cyprus to the European Union and the reasons for application. Although there are various possible economic gains for South Cyprus from EU membership, political gains go far beyond them and acceptance of Cyprus to the Union before a solution is reached for the Cyprus problem would bring many political benefits for South Cyprus in respect to its relations with Turkey.Cyprus, Cyprus problem, EU enlargement,

    Traceability, Value, and Trust in the Coffee Market: A Natural Experiment in Ethiopia

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    This study measures the impact of traceability attributes on international buyers’ willingness to pay for coffee produced in Ethiopia and the impact of accurate information on the production location of the coffee on the pricing according to its type and grade. Two sets of regression models were used to investigate the important determinant factors affecting the export prices of trader and producer coffee, one each for trader and producer coffee, to measure the impact of the Ethiopian Commodity Exchange (ECX) on the prices and to evaluate the effect of the coffee types and grades on the prices. The results show that after coffee was forced to be traded via the (ECX), traceable coffee export prices increased more than the reported price of nontraceable coffee. We also found that after the introduction of the ECX, the reported export prices of coffee were much more closely aligned to the movements in the international prices of coffee than before the ECX. Furthermore, we also found evidence that exporters and overseas buyers do not trust the results of the inspection and grading of coffee by the ECX unless traceability is also present. This is the first study to evaluate foreign buyers’ willingness to pay for the attribute of traceability of Ethiopian coffee and to see how traceability has affected buyers’ trust in the grades given by the ECX for the coffee it grades

    Riding the Waves of Fluctuating Oil Prices: Decoding the Impact on Economic Growth

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    Oil price fluctuations have always been controversial and remain significant in how a country’s economy develops. It is especially easy for the worldwide price of natural resources to fluctuate, putting developing nations at risk of economic instability. Consider Pakistan’s economy, which is very sensitive to changes in oil prices due to its reliance on the commodity. This research analyses the effects of oil prices on several macroeconomic indicators, including inflation, imports, gross savings, domestic lending to the private sector (DCPS), and industrial value-added in Pakistan. The study uses an error-correcting framework known as autoregressive distributed lag (ARDL) modelling to examine long-term connections between variables and their short-term implications. Additionally, data acquired between 1970 and 2020 was analyzed using Granger causality tests, impulse response functions (IRFs), and variance decomposition analyses (VDAs). The study found that inflation and domestic loans to the private sector hampered economic development in the near run. Conversely, imports, gross savings, industrial value added, and oil rents have a positive effect. A long-term connection between these variables was verified using the boundaries test. A unidirectional link was found in the causality tests between economic growth and imports, inflation and economic growth, and gross saving and domestic credit. An inverse link between domestic credit and inflation was found. The effect of oil rents on economic development in Pakistan is expected to rise during the next 4 years, according to the forecasts, before levelling out. According to the VDA results, the most critical factor influencing Pakistan’s economic development over the next decade would be domestic lending to the private sector. Following these empirical results, the study proposes policy adjustments that might help Pakistan’s economy expand more quickly and sustainably
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