Problem statement:The main objective of this study was to examine the causality relations between financial development, trade openness and economic growth (GDP) for the Turkish economy. Approach: In time series context, recently developed econometric techniques were used: namely the Augmented Dickey-Fuller (ADF) for unit root, Johansen and Juselius (JJ) for cointegration and Granger causality test for causal relationships. Results: The findings of the study showed that while trade openness has a positive effect, financial development has a negative effect on growth. Conclusion: Moreover, the Granger causality test results revealed the presence of bicausal relationship between financial development, trade openness and growth indicating that economic policies aimed at financial development and trade openness have a statistically significant impact on economic growth.
If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. AbstractPurpose -The objective of this study is to examine the relationship between defense expenditure and economic growth for Turkey and Greece in the period of 1956-2003 using yearly data. Design/methodology/approach -The Engle-Granger cointegration methodology and Granger causality test are used. Findings -It is found that these two variables are cointegrated for both countries studied. Unidirectional causality running from economic growth to defense expenditure is only found for Turkey. Originality/value -The paper ınvestigates the long-run relationship between defense expenditure and economic growth by conducting cointegration and causality tests in the context of Turkey and Greece over the period 1956-2003.
A positive relationship between carbon dioxide (CO 2 ) emissions and gross domestic product (GDP) is shown in this article; examining the per capita income and CO 2 emissions of 20 high-income countries for . It also appears that there is a positive relation from GDP to CO 2 except for Norway. While we found the coefficients for individual countries to be from 0.27-1.73, the panel varies from 0.70-1.03 in terms of time dummies effect. On the other hand, when we examine dynamic ordinary least squares (DOLS) estimates, the results are in the line with fully modified ordinary least squares (FMOLS) estimates. The panel FMOLS test results in average illustrate that a 1% increases in GDP causes a 0.86% rise in CO 2 emission whereas a 1.07% increase is found from DOLS.
William Shakespeare is no doubt one of the most distinguished playwrights in Western literary canon. Therefore, his works have not only been appealing to academics around the world, but also to a wide range of avid readers because of the universality of his themes, characters, stories and conflicts. Amongst his renowned works, on the other hand, Hamlet has been subject to different critical debates due to his protagonist's problematical mind-set and the role of Hamlet's beloved women in the formation of such mental health state. When look at this perspective, the quest for Hamlet's central problem has always been and will probably be an interesting topic for literary circles. As a result of the King's loss and Hamlet's interaction with the ghost, Hamlet's extreme emotional reactions have mainly revolved around his mother, Gertrude and his love, Ophelia. His love, hate, passions and last for revenge have all contributed to the self-destructive disposition of Hamlet and problematic structure of his psychology. Thus his psychological projection has been upon the female characters around him. In this regard, this article aims to focus on the women in Hamlet's life and to discuss how these characters have functioned as main catalysts for Hamlet's aberrant behaviours.
In recent years, the world economy has entered a slowdown period. Thus, the growth potentials of the countries have entered a downward trend. Countries that are struggling to get rid of this spiral and are involved in the growth of inertia, aim to obey the rules of the international strategic economy's game. Therefore, countries have entered the race to provide a competitive advantage in foreign trade.This study aims to examine how to set up and implement exchange war Stratagems, in the framework of the political games of international strategic economy and the implications of the international economic system.
An electro-mechanic brake system, which has the potentiality to be used in future cars, has been studied and a prototype of the brake system has been produced. The electro-mechanic brake system has different working principles then hydraulic brake system. Hydraulic force or air pressure is used to obtain the braking force on the wheels in the hydraulic braking systems, whereas a solenoid valve push force is used to stop the car in electro-mechanic systems. A censor controlled the RPM of the wheel and the data was passed to a micro controller and micro controller produced PWM signals according to obtained signal. Thus, push force of the solenoid valve was controlled by micro controlled according to the braking ratio. If the wheel slows down the turning speed, then micro controller stops to sending PWM signals and solenoid is relaxed until wheels turns again. This cycle continues until the all wheels are stopped. A prototype of the system has been constructed and tested. The initial results indicated that the system can be potentially used in the automotives.
Soğuk Savaş döneminde az gelişmiş üçüncü dünya statüsünde olan Çin ve Hindistan 20 yüzyılın son çeyreğinde art arda ekonomik reform politikalarını hayata geçirmeye başlamış, hızlı büyüme gerçekleştirerek günümüzde dünya ekonomisi ve siyasetine yön verebilecek büyük güç statüsüne yükselmiştir. Oldukça hızlı büyümekte olan ekonomisi, gittikçe artmakta olan milyonlarca orta sınıfı, sanayi, bilgi ve teknolojisiyle Amerika ve Avrupa gibi gelişmiş ülkelere rakip olarak ortaya çıkmaktadır. Bu çalışmada öncelikle, Çin ve Hindistan'ın takip ettiği farklı ekonomik model ve politikalarının ülkelerinin gelişmesini nasıl etkilediği incelenmiştir. Reform öncesi ve sonrasındaki gelişmeleri karşılaştırılarak iktisat politikaları ve takip ettiği stratejilerin ülkenin ekonomik kalkınmasındaki önemi tartışılmıştır. Son olarak iki ülke arasındaki farklı gelişme performansına sebep olan unsurlar hakkında değerlendirme yapılmıştır.
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