10,062 research outputs found
(Re)theorising European Integration under Globalisation:A Political Economy Approach
In the last two decades, the European Union has become wider and deeper. In addition, the number of regional integration arrangements has increased dramatically since early 1990s. Against these developments, the focus of regional and European integration studies has shifted away from the motives for and drivers of the integration process towards policy analysis or the comparative politics or regional blocs. This article attempts to bring the regional integration theory back in by proposing a political economy model that explains the dynamics of European integration, the reasons as to why governments agree to delegate authority to regional (EU) institutions, and the relationship between globalisation and integration
Asymmetric Unimodal Maps: Some Results from q-generalized Bit Cumulants
In this study, using q-generalized bit cumulants (q is the nonextensivity
parameter of the recently introduced Tsallis statistics), we investigate the
asymmetric unimodal maps. The study of the q-generalized second cumulant of
these maps allows us to determine, for the first time, the dependence of the
inflexion paremeter pairs (z_1,z_2) to the nonextensivity parameter q. This
behaviour is found to be very similar to that of the logistic-like maps
(z_1=z_2=z) reported recently by Costa et al. [Phys.Rev.E 56 (1997) 245].Comment: 6 pages with 3 fig
Economic implications of Turkish EU membership: the advantages of tying oneâs hands
This paper is a stock-taking exercise that brings together existing findings and new insights on the potential costs and benefits of EU membership for both Turkey and the EU. As far as Turkey is concerned, we focus on the costs and benefits of EU membership that are likely to result from compliance with the so-called EU conditionality. As far as EU is concerned, we focus on the costs and benefits associated with budgetary contributions and migration. Overall, we conclude that the impact of membership is likely to be positive for both parties, but the risks and returns are associated. In other words, Turkey stands to gain more than the EU but it is also the party that will be faced with higher adjustment costs.EU enlargement, economic costs and benefits of integration, migration, EU-Turkey relations
Turkish economic policy under AKP government: an assessment for 2002-2007
This article agrees with the received wisdom that the rule of AKP government has been associated with better macroeconomic outcomes in Turkey from 2002-2007. However, it argues that it is necessary to question the received wisdom for several reasons. First, AKP governmentâs contribution to Turkeyâs economic performance from 2002-2007 was largely due to its consent to âtie its handsâ under the pre-existing International Monetary Fund (IMF) and European Union (EU) accession conditionality rather than because of AKP-specific policy innovation. Secondly, AKPâs attempt at policy innovation after 2004 have been associated with less impressive economic outcomes. Finally, the AKP has been unsuccessful in addressing the structural constraints and vulnerabilities that threaten the long-run sustainability of Turkeyâs economic growth and its macroeconomic stability.Economic policy analysis; economic governance; inflation targeting; structural reforms; Turkish economy
Real Exchange Rate Fluctuations and Relative Prices in Turkey
Traditional theory puts forwards that real exchange rate fluctuations should result from the changes in the relative price of non-tradable goods since tradable goods' prices are to equalize among countries due to the law of one price. However, significant number of researches reported that in many cases, the contribution of tradable goods' prices is not negligible, or even surpass that of the non-tradable goods' prices. This paper studies the relation between the real exchange rate and relative prices for Turkey. The relation is found to be stronger with the relative price of tradable goods, unlike the traditional theory. But the proportion of the fluctuations in real exchange rates accounted for by relative non-tradable goods prices has increased in recent years. These findings imply the real exchange rates in Turkey to be driven by nominal factors, rather than real factors until recently.Real Exchange Rate Decomposition, Relative rices
Liberalisation in a world of second best: evidence on European network industries
This article reports mixed results about the impacts of liberalisation in European network industries. Telecommunications prices have fallen and converged across EU-15, but electricity and gas prices have either increased or diverged. Productivity has increased, but mainly as a result of falling employment in absolute and relative terms. Liberalised industries are still characterised by high levels of market concentration and low levels of transparency and market integration. These findings are in line with the predictions of the theory of second best and suggest that the case for liberalisation of network industries has been oversold.Liberalisation, network industries, second-best, public policy, European Union
Long run relationship between entry and exit: time series evidence from Turkish manufacturing industry
This paper investigates the long run relationship between entry and exit using aggregate annual data from the Turkish manufacturing industry for the period 1968-2001. The time series properties of the data imply that simple OLS regressions may yield spurious results. We employ both bivariate and multivariate models to test for Granger causality. Utilizing relatively new time series techniques, we find that exit Granger causes entry in the long run, but not vice versa. However, unlike many empirical findings in the literature, past exit has a negative effect on entry. Entrants seem to be put off by past exit in the long run. Hence, our results do not seem to support the replacement effect in the Turkish manufacturing industry in general. None of the other variables included in the multivariate analysis has significant effects on entry or exit. The generalized impulse responses between entry and exit confirm Granger causality results.
Recommended from our members
Liberalisation in a world of second best: evidence on European network industries
This article reports mixed results about the impacts of liberalisation in European network industries. Telecommunications prices have fallen and converged across EU-15, but electricity and gas prices have either increased or diverged. Productivity has increased, but mainly as a result of falling employment in absolute and relative terms. Liberalised industries are still characterised by high levels of market concentration and low levels of transparency and market integration. These findings are in line with the predictions of the theory of second best and suggest that the case for liberalisation of network industries has been oversold
Is regulatory quality related to industry performance? Evidence on telecommunications, gas and electricity in EU15
This paper provides empirical evidence on ex ante and ex post indicators of regulatory quality and the relationship between those indicators and market performance in liberalised EU-15 network industries. We report a low level of regulatory independence and competence, a high level of cross-country variations in regulatory quality, and a prevalent absence of correlation between ex ante regulatory quality and ex post performance indicators. On the basis of these findings, we suggest that the design of national regulatory agencies (NRAs) in Europe is not optimal and may be conducive to regulatory ineffectiveness or outright regulatory failure. Nevertheless, the existence and strengthening of EU-level regulators could enable EU member states to reduce the risk of regulatory failure by encouraging coordination and adoption of best practice.Economics of Regulation, European Public Policy, Regulatory Quality, European Network Industries.
Technical Efficiency in Irish Manufacturing Industry, 1991-1999
This paper measures the technical efficiency levels in the Electrical and Optical Equipment industry in Irish manufacturing sector and examines the factors that could affect these levels utilising a stochastic production frontier approach over the period 1991-99 using firm-level panel data. Using the model outlined by Battese and Coelli (1995) we find that investment intensity and labour quality play an important role in explaining technical inefficiency levels in all sub-sectors of the Electrical and Optical Equipment industry. We found no significant relationship between export intensity and the technial inefficiency levels of inidividual firms in all but one sector, namely Television and Radio recievers industry.
- âŠ