City and Regional Planning / Şehir ve Bölge Planlama

Permanent URI for this collectionhttps://hdl.handle.net/11147/4274

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  • Article
    Citation - WoS: 8
    Citation - Scopus: 13
    Heterogenous Responses To Monetary Policy Regimes: a Regional Analysis for Turkey, 2009-2019
    (Hungarian Central Statistical Office, 2022) Duran, Hasan Engin; Karahasan, Burhan Can
    The heterogeneous response of regions to interest rate shocks is a severe issue that reduces the effectiveness of monetary policy. While the impact of interest rate shocks is central on policymaking, less has been discussed about the spatial heterogeneity in influencing macroeconomic policy implementations. In order to fill this gap, the authors explore regional responses to monetary policy in developing countries, such as Turkey. The main aim of the paper is to investigate how different regions adjust the extent of real economic activity in response to an exogenous country-wide shock in the interest rate policy. The analyses cover 81 Turkish provinces using monthly data from January 2009 to November 2019. To consider temporal and spatial patterns in the same framework, time-series analyses via unit root, co-integration, and VAR with spatial methods have been combined, including exploratory spatial data analysis and spatial econometric models. Preliminary findings validate that regional economic activity measured by employment responses is heterogeneous across provinces and policy regimes. Among the different determinants in assessing responsiveness to monetary policy shocks, interest rate, broad credit channels, and certain regional demographics have explanatory power. Moreover, sizeable spatial spillovers have been detected, which are believed to be crucial in evaluating the externalities and the exact impact of the country-wide policy shock in Turkey. Combined results indicate that the macroeconomic policy impact and spatial externalities are visible only during monetary expansion periods.
  • Article
    Citation - WoS: 3
    Citation - Scopus: 4
    Re-Introducing Statutory Regional Spatial Planning Strategies in England: Reflections Through the Lenses of Policy Integration
    (Routledge, 2022) Bafarasat, Abbas Ziafati; Oliveira, Eduardo; Robinson, Guy Martin
    Statutory regional spatial strategies were abolished in England, United Kingdom in 2010. There are, however, increasing calls in favour of a re-introduction of statutory comprehensive spatial strategies at the regional level to enhance integrated economic growth and address exacerbating spatial inequalities. Through a survey and in-depth interviews conducted with experts and policymakers of the North-West region of England, this paper explores whether the introduction of such statutory strategies could find justificative grounds through policy integration of transportation, housing, and employment policies. We conclude with a set of mechanisms that could foster this re-introduction serving regional geographies beyond the North-West.