The aim of this study is firstly to examine the relationship between economic growth and foreign trade, which is one of the most important issues in the literature of economics, and secondly to raise alternative policy proposals related to Turkey's economy. Economic growth, export and import between 1980 and 2019 in Turkey have been selected as the variables for the research. Johansen cointegration test was used for models based on economic growth-export and economic growth-import. After identifying the relationship between the series, Granger causality test was employed. According to the results obtained from Johansen cointegration analysis, the relationships between export and economic growth and between import and economic growth have been identified. According to Granger causality test result, it was seen that both the export and import caused economic growth. According to these results, it can be said that foreign trade increases economic growth in Turkey.

The existence of economic crises has created a need for new sources through economic history. Most of the time, public debt becomes crucial as a new source. For this purpose, the study tries to explain these questions: Is there any relationship between public debt and economic growth, and if there is a relationship between them what is the size or power of this effect. In this context, panel analysis has been made for selected 14 European countries which are Austria, Belgium, Denmark, Finland, France, Germany, Greece, Italy, Luxembourg, Norway, Portugal, Spain, Sweden, and Turkey at the time of 1980-2017. The results indicated that public debt has a detrimental effect on economic growth with different shares, except Denmark and Norway.

Environmental pollution is one of the biggest problems faced by the developing countries while sustaining their growth rates. The relationship between economic growth and environmental pollution is dealt with within the context of Environmental Kuznets Curve in literature. Most of the studies conducted within the context of Environmental Kuznets Curve have established that there is an inverted U-shaped relationship between economic growth and CO2 emissions. This study has been designed to analyse the relationship between the income per capita and CO2 emissions in 8 developing European countries between 2001 and 2018. Unlike the previous studies, in this study the effect of the added value of the medium and high-tech products on CO2 emissions has been analysed and the analysed time period has been made to represent the more updated state of CO2 emissions. In this study conducted by using the panel data analysis method, unlike in most of the studies in literature, it has been found out that Environmental Kuznets Curve is U-shaped. Besides, the added value of the medium and high-tech products has a statistically significant effect on CO2 emissions, and the increase in the added value of the medium and high-tech products reduces CO2 emissions.

Environmental pollution is one of the biggest problems faced by the developing countries while sustaining their growth rates. The relationship between economic growth and environmental pollution is dealt with within the context of Environmental Kuznets Curve in literature. Most of the studies conducted within the context of Environmental Kuznets Curve have established that there is an inverted U-shaped relationship between economic growth and CO2 emissions. This study has been designed to analyse the relationship between the income per capita and CO2 emissions in 8 developing European countries between 2001 and 2018. Unlike the previous studies, in this study the effect of the added value of the medium and high-tech products on CO2 emissions has been analysed and the analysed time period has been made to represent the more updated state of CO2 emissions. In this study conducted by using the panel data analysis method, unlike in most of the studies in literature, it has been found out that Environmental Kuznets Curve is U-shaped. Besides, the added value of the medium and high-tech products has a statistically significant effect on CO2 emissions, and the increase in the added value of the medium and high-tech products reduces CO2 emissions.

Basel III liquidity regulation introduced two new metrics with a focus on time horizons up to 30 days (LCR: Liquidity Coverage Ratio) and beyond one year (NSFR: Net Stable Funding Ratio) respectively. This paper bridges the horizon gap by applying a yearlong liquidity stress test to the implied cash flow data of the seven biggest Turkish banks to gauge the extent (from 1 to 365 days) to which they can withstand a country-specific liquidity crisis. At the same time, this is the first study that has revealed the survival horizons of banks after a liquidity stress test at the institutional level. Results show that all banks fail each of the eight Turkey-specific liquidity stress scenarios (with a single exception) even under various Central Bank of the Republic of Turkey (CBRT) supports while complying with both LCR and NSFR ex-ante. As such, regulators would be better off employing the framework as a complementary local tool to the global Basel III liquidity regulation in order to account for medium-term liquidity risks between 30 days and one year. And therewithal, central banks could also use the results to draw up a contingency funding plan by reconsidering their hypothetical reactions to a liquidity crisis.

The main aim of this study is to evaluate the causality linkages between income inequality and financial globalization for G7 countries over the period 1970-2015. The bootstrap panel Granger causality analysis by Kónya (2006) is used. The empirical results indicate that there is a causality linkage between income inequality and financial globalization in most of the G7 countries. Furthermore, it is shown that income tax has a significant role on the causality linkage. Hence, in order to reduce income inequality, policy makers should apply high taxes on top income, using fiscal policy instruments

A surety bond is a three-party agreement between the contractor, the employer, and the surety in which surety ensures the contractor can fulfill the obligations regarding the contract against the employer. However, the usage of surety bonds in Turkey are quite different from USA and Europe. They are utilized in the place of letter of guarantee. Especially for the contractors with collateral shortage, the surety bond is much more advantageous than the bank letter of guarantee for the contractors since the surety bond does not reduce their credit limits within the banks. Thus, this paper aims to reveal the benefits of surety and targets increasing the awareness of surety bonds in Turkey.

While the link between stock market development and overall economic growth is well discussed, the empirical evidence on what motivates the development of stock markets is still scanty necessitating further research efforts. In this study, how institutional quality affects stock market development in Ghana is examined relying on quarterly data spanning from 1995Q1-2015Q4 using a composite index of stock market development. Applying the Autoregressive Distributed Lag (ARDL) method, the results posit a significant short and long-run effect of institutional quality on stock market development. Controlling for macroeconomic factors, a long-term significant impact of foreign direct investment inflows, banking sector growth, and income level on the growth of Ghana’s stock market is observed. It is further documented that regardless of the time period, domestic macroeconomic instability proxied by inflation does not matter for stock market growth. According to the main findings, it is recommended in the study that continual efforts must be made to enhance the quality of institutions. Particularly, policies geared towards improving regulatory quality and control of corruption are imperative for reducing unethical practices in the stock market.

We provide an overview of the voluntary pension fund market in Turkey by starting with recent developments in the global pension markets and then focusing on the pension fund reform in Turkey and the following developments since 2003. Findings from the literature indicate that the reforms on the introduction of voluntary pension funds in Turkey have positive implications for the overall national savings rates and capital market development. Voluntary pension funds create extra income for beneficiaries after their retirement. However, redesigning the system in a simplified structure is necessary in order to increase participation, inclusion and also to ensure persistency.

In this paper, considering the increasing importance of intellectual capital (IC), we focus on the effects of not only IC but also its three components on Turkish banks’ financial performance by using VAIC (Value Added Intellectual Coefficient) model. We use a sample of 20 banks operating in Turkey over the period 2013/Q4 - 2019/Q3. We measure financial performance by two widely accepted accounting ratios; namely, ROA and ROE. The results show that VAIC, human capital efficiency (HCE) and capital employed efficiency (CEE) are positively correlated with the banks’ financial performance. In particular, the results indicate the significance of overall intellectual capital, human capital, and financial and physical capital to both increase and sustain banks’ profitability.