Proceedings of the Conference on Emerging Economic Issues in a Globalizing World

The paper will examine the 1994 and 2001 Turkish currency crises by using early warning system which is based on the “signal” approach proposed by Kaminsky, Lizondo and Reinhart (KLR) (1998). The “signal” approach is a non-parametric approach. In this approach, the behavior of a number of individual variables is monitored and they are evaluated against a certain threshold levels. If any of these indicator exceeds its threshold, it is said that indicator issues a “signal” that a currency crisis may occur within a given period. The objectives of this paper are two folds: to investigate causes of currency crises under consideration and to compare similarities and differences of the 1994 and 2001 currency crises. The data consist of monthly data and range from January 1987 to November 2005 for the following variables: reserves, inflation rate, GDP growth, portfolio capital inflow to reserves, short term external debt to reserves, domestic debt, money supply to reserves, current account to GDP, real exchange rate overvaluation, regional stock market return, regional market pressure index, stock market index, export and import. Results showed that 2001 crisis is deeper and costlier than 1994 crisis, external factors play more imported role in 2001 crisis than 1994 crisis and in both crises Weighted Composite Index increases sharply previous the both crises.SMEs, Turkey, Currency Crises, early warning system

Decomposition and primary crystallization in undercooled Zr41.2Ti13.8Cu12.5Ni10.0Be22.5 melts

Zr41.2Ti13.8Cu12.5Ni10.0Be22.5 bulk metallic glasses were prepared by cooling the melt with a rate of about 10 K/s and investigated with respect to their chemical and structural homogeneity by atom probe field ion microscopy and transmission electron microscopy. The measurements on these slowly cooled samples reveal that the alloy exhibits phase separation in the undercooled liquid state. Significant composition fluctuations are found in the Be and Zr concentration but not in the Ti, Cu, and Ni concentration. The decomposed microstructure is compared with the microstructure obtained upon primary crystallization, suggesting that the nucleation during primary crystallization of this bulk glass former is triggered by the preceding diffusion controlled decomposition in the undercooled liquid state

Atık çay ekstrakt boyasının çeşitli mordan-su çözücülü vernikle ahşapta kullanımı ve sertlik değişimine etkisi

In this study, the potentiality of using the organic dying material obtained from the tea plant extracts in the wood protection industry is analyzed and the total retention (Kg/m(3)), retention %, and upper surface processing (hardness) in wood is determined. Natural coloring agent in the world and in Turkey soft drink consumed in tea, that ocur during the processing of the extract was obtained as waste tea according to ISO 9768 standards. For this purpose, developed the tea dye as surface coating material and double component waterborne varnish were applied on the wood surfaces such as pine (Pinus silvestris L.), beech (Fagus orientalis L hardness changes values are calculated. According to experimental results, the highest retention rate belongs to Beech wood (6.75 %), the lowest to scotch pine (5.61%). The total value of highest retention belongs to Beech wood (100.65 kg/m(3)) and the lowest to scotch pine (68.18 kg /m(3)) were obtained. The highest value of hardness change water based varnish (37.60) beech wood is obtained, at least the value of hardness change (17.60) tea dye was beech wood