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Ekonomi, Politika & Finans Araştırmaları Dergisi
ISSN 2587-151X · Ekonomi ve Finansal Araştırmalar Derneği · 465 articles in the index
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Journal Article
Geopolitical Alignment and Friend-Shoring: Evidence from Turkish Outward Foreign Direct Investment
Geopolitical tensions have increasingly reshaped foreign direct investment (FDI) patterns, leading to “friend-shoring,” whereby investments are redirected toward geopolitically aligned countries. Despite growing attention, empirical evidence on the geopolitical determinants of FDI in emerging…
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Journal Article
One Policy Rate, Different Sectoral Responses: Evidence on the Monetary Transmission Mechanism in Türkiye
This paper examines the sectoral monetary transmission mechanism in Türkiye during the inflation-targeting period. Using quarterly data for 2006Q1–2018Q2, it estimates VAR models for the agriculture, industry, construction, and services sectors. The empirical framework includes sectoral output…
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Journal Article
Economic Policy Uncertainty, Financial Factors, and BIST 100 Volatility in Türkiye: Evidence from A TVP-VAR Model
This study examines how macroeconomic and financial factors affect Turkish stock market volatility over time. The dependent variable is a GARCH(1,1) based conditional volatility series that captures the volatility clustering common in financial markets. The independent variables are the Economic…
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Journal Article
The Impact of Monetary and Fiscal Policy Uncertainty on Bond Yields: Findings from a Panel of Developed Countries (1999–2025)
This study examines how monetary policy uncertainty (MPU) and fiscal policy uncertainty (FPU) affect government bond yields across eleven developed economies from January 1999 to March 2025. It uses five- and ten-year bond yields as the dependent variables. The analysis employs panel quantile…
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Journal Article
BIST100 ve Sektör Endeksleri ile Makro-Finansal Faktörler Arasındaki Eşbütünleşme İlişkisinin Kesirli Frekanslı Bootstrap Fourier ARDL Yaklaşımı ile İncelenmesi
Bu çalışmanın amacı, küresel piyasalardaki risk iştahı ve makroekonomik şokların Türkiye pay piyasası üzerindeki etkilerini BIST 100 genel endeksi ve sektörel alt endeksler (Banka, Mali, Sınai, Teknoloji) kapsamında incelemektir. Bu doğrultuda, 2000:08-2025:10 dönemi aylık verileri kullanılarak…
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Journal Article
Assessing the AI-ESG Nexus Through a Quantile-Wavelet Analysis
This study investigates the impact of artificial intelligence (AI) on environmental, social, and governance (ESG) performance and explores how this relationship evolves across the quantile and time-frequency domains. Using daily data from 2018 to 2025, the analysis applies the Quantile-on-Quantile…
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Journal Article
Risk Perception under Uncertainty: A Behavioral Analysis of Safe-Haven Asset Return Responses
The study aims to examine the return responses of safe-haven assets from a behavioural perspective rather than to measure quantity-based demand directly. It elaborates on perceived risk, loss aversion, and uncertainty avoidance as critical determining processes and traits. The data from January…
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Journal Article
Does ESG Performance Influence Economic Growth? The Role of Financial Reporting Environment and IFRS Adoption in Türkiye and Selected Turkic Economies
This study examines the impact of Environmental, Social, and Governance (ESG) performance on economic growth in Türkiye and selected Turkic economies, with particular emphasis on the financial reporting environment and IFRS adoption. Despite growing interest in the macroeconomic implications of…
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Journal Article
From Financial Inclusion to Financial Resilience: Evolving Determinants in Türkiye (2011–2024)
Financial resilience—the capacity of individuals and households to withstand financial shocks and recover without enduring welfare losses—has become an essential indicator of economic well-being in emerging economies. This paper investigates the evolution and determinants of financial resilience in…
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Journal Article
Credit and Exchange Rate Channels of Monetary Transmission under Multiple Policy Regimes: Evidence from Türkiye, 2011–2025
This study investigates the credit and exchange rate channels of the monetary transmission mechanism in Türkiye under different policy regimes using monthly data covering the period from January 2011 to December 2025. The analysis is conducted within a six-variable Vector Error Correction Model…
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Journal Article
Enerji Yoğunluğu ve Sermaye–Enerji İkamesi: Türkiye İmalat Sanayinde Firma Düzeyinde Bir Analiz
Bu çalışma, Türkiye imalat sanayinde faaliyet gösteren firmalar için 2005–2013 döneminde sermaye ve enerji üretim faktörleri arasındaki ikame olanaklarını, firmaları enerji kullanım yoğunluklarına göre gruplandırarak incelemektedir. Analiz kapsamında translog maliyet fonksiyonu ve faktör payı…
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Journal Article
Bölüşüm ve İstikrarsızlık: Kalecki’nin Teorik Çerçevesi
Bu çalışma, bölüşüm ve istikrarsızlık ilişkisini Kalecki’nin teorik çerçevesinde yeniden değerlendirmektedir. Çalışmanın temel iddiası, gelir dağılımının üretim faktörlerinin marjinal verimlilikleri tarafından değil, piyasa gücü, tekel derecesi, sendikal yapı, sınıf ilişkileri ve devlet müdahalesi…
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Journal Article
AI Readiness, Renewable Energy, and Industrial Development: Structural Approach to Sustainable Growth
This study examines the determinants of economic growth in the 27 countries with the highest GDP during the period 2008–2020. The analysis employs new-generation panel data methods that account for cross-country common shocks, spillover effects, and structural differences. In this context, the…
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Journal Article
The Effects of Syrian Refugees and Regional Trade Openness on Türkiye’s Labor Market
This study analyzes the labor market effects of the rapid influx of Syrian refugees into Türkiye beginning in 2011. Using micro-level Household Labor Force Survey data from the Turkish Statistical Institute for the period 2009–2015, the employment effects of the increase in the Syrian refugee…
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Journal Article
Information Flows Among Stocks in Borsa Istanbul: A Transfer Entropy-Based Network Analysis
Bu çalışmanın amacı, BİST 100 endeksi bileşenleri arasındaki bilgi akışının yönünü ve büyüklüğünü efektif transfer entropisi (ETE) yöntemiyle incelemektir. Çalışmanın kapsamını 2 Ocak 2020 – 3 Temmuz 2025 döneminde endekste yer alan ve veri bütünlüğü sağlayan 65 hissenin günlük getirileri…
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Journal Article
Modeling the Energy Transition in Türkiye’s Transportation Sector: A Machine Learning Approach
The global shift toward clean energy is reshaping supply chains, with road transportation, a carbon-emitting sector, at the center. Electric vehicles (EVs) offer a decarbonization pathway with minimal consumer disruption. In Türkiye, cleaner road transportation aligns with national energy…
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Journal Article
The Impact of Stock Markets, Interest Rates, and Exchange Rates on Credit Default Swap Premiums: Evidence from Advanced and Emerging Economies
This study aims to examine how bond yields, yield curves, exchange rates, stock indices, and market volatility impact Credit Default Swap (CDS) spreads. This study tries to reach a larger sample size by using weekly data from 33 countries, which account for about 77% of the world’s GDP. CDS…
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Journal Article
Türkiye İhracatının GEPU Endeksi, Reel Döviz Kuru ve Sanayi Üretim Endeksine Tepkisi: Asimetrik Bir Analiz
Bu çalışmada, Türkiye’nin reel toplam ihracatı ile Küresel Ekonomi Politika Belirsizlik (GEPU) Endeksi, reel efektif döviz kuru ve yurtdışı gelirin göstergesi olarak alınan Sanayi Üretim Endeksi arasındaki ilişkiler 2013-2023 yılları arasındaki aylık veriler ile incelenmektedir. Değişkenler…
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Journal Article
Unemployment Hysteresis in G7 Countries: Linear and Nonlinear Evidence
The unemployment hysteresis hypothesis suggests that macroeconomic shocks may generate persistent effects on unemployment rates. This study investigates the validity of unemployment hysteresis in G7 countries by accounting for linearity, structural breaks, and nonlinear adjustment dynamics…
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Journal Article
Borsadan Fabrikaya: Türkiye’de Reel ve Finansal Sektör Arasındaki Dinamik Etkileşim
Bu çalışmada, 04.05.2015-01.07.2025 dönemi için BIST Sınai Endeksi (XUSIN), reel efektif döviz kuru (REK) ve satınalma yöneticileri endeksi (PMI) değişkenlerinin imalat sanayi üretim endeksi (SÜE) üzerindeki etkisi Bayer ve Hanck (2013) eşbütünleşme testi ve FMOLS, DOLS ve CCR yöntemleri ile…