Four essays on overlapping generations resource economies : optimality, sustainability and dynamics

Ankara : The Department of Economics, İhsan Doğramacı Bilkent University, 2012.Thesis (Ph. D.) -- Bilkent University, 2012.Includes bibliographical references.This dissertation is made up of four essays on overlapping generations resource economies. The Örst essay studies the e§ects of energy saving technological progress and substitution of renewable energy resources with non-renewable resources on natural resource depletion and long run growth. A growth model in two-period overlapping generations framework incorporating the presence of both resources and resource augmenting technological progress is developed. The e§ect of an increase in the intensity of the renewable resources in producing energy on long run growth is found to be positive. Although exhaustible resources are essential in production the economy can be sustained and the balanced growth path is optimal. In the second essay, the implications of assuming di§erent energy intensities for physical capital accumulation and the Önal good production is studied in an overlapping generations resource economy where energy is obtained from the extraction of the natural resources. Apart from the standard literature, physical capital accumulation is assumed to be relatively more energy-intensive than consumption. Multiple steady states, indeterminacy and bifurcations are obtained, without taking non-linearizing assumptions evident in the literature. For the non-renewable resources if the share of energy resources is low enough, local indeterminacy and hopf bifurcations may arise in the model. The aim of third essay is to analyze can costly resource extraction and di§erentiating energy intensities induce dynamics other than saddles in an overlapping generations resource economy. The capital accumulation sector is assumed to be more energy intensive. The energy input is extracted from the natural resources with some extraction costs. The main Önding of the essay is that both naturally evident assumptions contribute to the richness of the dynamics. Depending on the share of resources in capital accumulation dynamics other than saddle ñindeterminacy, áip and hopf bifurcationsñ can arise in the model for the non-zero steady state. In the fourth essay, a feedback mechanism between population and natural resource to a standard model of renewable resource based OLG economy is incorporated to check the stability of the dynamics. Multiple steady states and indeterminacy have been obtained even in the absence of logistic regeneration and independent of intertemporal elasticity of substitution. In particular, transcritical bifurcations may arise in the model varying the rate of constant regeneration with respect to population growth rate.Fazlıoğlu, BurcuPh.D

Does Foreign Capital Increase Tax Revenue: The Turkish Case

We examine the effect of the foreign direct investment (FDI) on taxes paid for Turkey with a special focus on the differentials between firms operating with different technology levels. We utilize a comprehensive dataset for Turkish manufacturing firms over 2004-2012 period and employ Generalized Method of Moments methodology. The results of the study confirm that foreign affiliation increase the taxes paid by the firms. We find a bigger impact of FDI on taxation for high-technology firms than medium or low technology firms. Keywords: Foreign Direct Investment, Tax Revenue, and Generalized Method of Moments JEL Classifications: D22, F23, H

Engagement in Asymmetric Markets: Causes and Consequences

This paper contributes to the emprical debate on firm heterogeneity in international trade dealing with the direction of causality from which the performance premium across destination markets originates. For this purpose, we first investigate the selection of firms into markets with asymmetric income levels exploring which firm level characteristics are associated with this selection. Once we identify movements along different statuses on a year to year basis we investigate the factors that drive these movements. We search for the heterogeneity in post-entry effects of trading with different type of markets by establishing treatment models in line with the learning by exporting hypothesis. Our results indicate self-selection mechanisms and post-entry effects differ from market to market for Turkish manufacturing firms

Does it matter where you export and does real productivity really rise with exporting?

Utilizing a comprehensive dataset for Turkish manufacturing firms over 2003-2011, we analyse the differentials in the post-entry effects of exporting to markets with different income levels. We employ propensity score matching techniques together with a differences in differences methodology. Controlling for the quality of exports, we explore whether the post-entry effects on productivity are driven by changes in real productivity, as opposed to quality/price markup effects. Our results confirm the learning by exporting hypothesis and suggest real productivity gains in particular for exports to high income (HI) countries as opposed to middle low income (MLI) countries even after controlling for the composition of exports. This suggests that where a firm exports does matter

Does it matter where you export and does real productivity really rise with exporting?

Utilizing a comprehensive dataset for Turkish manufacturing firms over 2003-2011, we analyse the differentials in the post-entry effects of exporting to markets with different income levels. We employ propensity score matching techniques together with a differences in differences methodology. Controlling for the quality of exports, we explore whether the post-entry effects on productivity are driven by changes in real productivity, as opposed to quality/price markup effects. Our results confirm the learning by exporting hypothesis and suggest real productivity gains in particular for exports to high income (HI) countries as opposed to middle low income (MLI) countries even after controlling for the composition of exports. This suggests that where a firm exports does matter

Engagement in Asymmetric Markets: Causes and Consequences

This paper contributes to the emprical debate on firm heterogeneity in international trade dealing with the direction of causality from which the performance premium across destination markets originates. For this purpose, we first investigate the selection of firms into markets with asymmetric income levels exploring which firm level characteristics are associated with this selection. Once we identify movements along different statuses on a year to year basis we investigate the factors that drive these movements. We search for the heterogeneity in post-entry effects of trading with different type of markets by establishing treatment models in line with the learning by exporting hypothesis. Our results indicate self-selection mechanisms and post-entry effects differ from market to market for Turkish manufacturing firms

The Effect of Innovation on Productivity: Evidence from Turkish Manufacturing Firms

This paper explores the effects of firms’ innovation activities on their productivity changes systematically for Turkish manufacturing firms differentiating between different typologies of innovation. To do so, we utilize a recent and comprehensive firm level dataset over the period 2003-2014, mainly constructed on the four consecutive waves of the “Community Innovation Surveys”. We employ endogenous switching methodology controlling for endogeneity and selection bias issues as well as analyzing counterfactual scenarios. The main finding of the study points to firm heterogeneity in terms of both propensity to innovate and their benefiting from innovation activities. Our results indicate that all types of innovation activity have positive effects on the productivity of firms with respect to non-innovating firms. Further, we find robust evidence for the differential impact of innovation on firm productivity across different innovation types

The Effect of Innovation on Productivity: Evidence from Turkish Manufacturing Firms

This paper explores the effects of firms’ innovation activities on their productivity changes systematically for Turkish manufacturing firms differentiating between different typologies of innovation. To do so, we utilize a recent and comprehensive firm level dataset over the period 2003-2014, mainly constructed on the four consecutive waves of the “Community Innovation Surveys”. We employ endogenous switching methodology controlling for endogeneity and selection bias issues as well as analyzing counterfactual scenarios. The main finding of the study points to firm heterogeneity in terms of both propensity to innovate and their benefiting from innovation activities. Our results indicate that all types of innovation activity have positive effects on the productivity of firms with respect to non-innovating firms. Further, we find robust evidence for the differential impact of innovation on firm productivity across different innovation types

Doğrudan Yabancı Yatırımlar Kadın İstihdamını Artırır mı? Türkiye’de Hizmetler Sektörüne Yakından Bakış

The aim of this study is to investigate of the relationship between foreign direct investment and women employment. Focusing on services sector with the highest rate of women employment, we empirically attest whether foreign direct investment creates job opportunities for women and decrease the gender inequality for women in terms of employment. Propensity Score Matching techniques and Difference-in-Difference techniques are employed to firm level data for Turkish services industry over 2003-2012. The results of the study suggest that foreign direct investment increase women employment and create good jobs for women

Doğrudan Yabancı Yatırımlar Ve İstihdam İlişkisi: Türkiye Örneği

Employing a firm level dataset over the period 2003-12, employment effects of foreign affiliation is examined for Turkish firms. The employment changes of firms via foreign direct investment are investigated through treatment models by using Propensity Score Matching techniques jointly by Difference in Difference methodology. In an attempt to see the strength of the sustainability of fdi’s positive effects on employment, the post-treatment period is extended and accordingly two different treatment groups are established. The results of the study robustly show that fdi acquisition improves firm level employment immediately after the acquisition and, this effect is sustainable even in the preceding years.Bu çalışmada, 2003-12 zaman aralığına ait firma düzeyinde bir veri seti kullanılarak, doğrudan yabancı yatırımların istihdam üzerindeki etkileri incelenmektedir. Analizlerde örneklem seçim problemini önleyecek şekilde, doğrudan yabancı yatırım alma durumunu içeren uygulama (treatment) modelleri oluşturulmakta ve bu modellere Eğilim Skoru Eşleştirmesi (Propensity Score Matching) ile birlikte Fark-içinde-Fark (Difference-in-Difference) teknikleri uygulanmaktadır. Doğrudan yabancı yatırımların firma istihdamı üzerindeki sürdürülebilir etkilerini görebilmek üzere uygulama sonrası zaman periyodu uzatılarak farklı uygulama grupları oluşturulmaktadır. Çalışmanın sonuçları, firmaların istihdam düzeyinin doğrudan yabancı yatırıma maruz kalmanın hemen ardından arttığını ve söz konusu etkinin takip eden yıllarda da sürdüğünü göstermektedir