Migration-driven women’s empowerment: The case of Turkey

Abstract. This paper addresses the effect of migration on women’s empowerment in Turkey.  Utilization of data over six decades from 1960 until 2011 gives the possibility that these series can be spuriously correlated. This study, therefore, adopts the bounds testing procedure as a method to determine and to avoid spurious correlation. The results of bounds testing gives clear-cut evidence that women’s empowerment, the share of women in parliament in the present context, is related to the emigration rate, the relative education of women and to a measure of democracy. It is also found that the share of women in parliament is related to the country groups with the largest effect in European and core OECD countries. The results are robust for the inclusion of asylum seekers and refugees in the emigration data.Keywords. International migration.JEL. F22

An empirical analysis of Diaspora bonds

Abstract. This study is the first to investigate theoretically and empirically the determinants of Diaspora Bonds for eight developing countries (Bangladesh, Ethiopia, Ghana, India, Lebanon, Pakistan, the Philippines, and Sri-Lanka) and one developed country - Israel for the period 1951 and 2008. Empirical results are consistent with the predictions of the theoretical model. The most robust variables are the closeness indicator and the sovereign rating, both on the demand-side. The spread is not significant, suggesting Diaspora Bonds differ from normal investments. Good governance and wars are also important demand-side determinants of Diaspora Bonds. Among the supply-side factors; FDI, ODA, foreign exchange, inflation, external debt and remittances significantly determine the issue of Diaspora Bonds. Most importantly, this study is able to make predictions of the most promising candidate countries in issuing Diaspora Bonds in the future.Keywords. Diaspora Bonds, Supply-side, Demand-side.JEL. F21, F24, F34, F35, G38, H62, H63

Why does the amount of income redistribution differ between the United States and Europe? The Janus face of Switzerland

Abstract. In this paper, the amount of income redistribution in the United States, the European Union, and in Switzerland is compared and empirically related to economic, political, and behavioral determinants elaborated in the literature. Lying in between the two poles, data on Switzerland provides evidence about the relative merits of competing hypotheses. It tips the balance against the economic explanation, which predicts more rather than less income redistribution in the United States compared to the EU in general. It only weakly supports the political model linking proportional representation and multiparty structure (which also characterize Switzerland) to redistribution; yet the Swiss share of transfers in the GDP is low. Behavioral explanations receive a good deal of support from the case of Switzerland, two countries that share with the United States the belief that hard work rather than luck, birth, connections, and corruption determine wealth. In this way, the Janus faces of Switzerland may help to explain the difference in the amount of U.S. and EU income redistribution.Keywords. Income redistribution, Income mobility, Openness, Proportional representation, Beliefs, Religiosity.JEL. D31, D63, H53, I31