Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection
Permanent URI for this collectionhttps://hdl.handle.net/11147/7148
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Article Citation - WoS: 4Citation - Scopus: 5Social Capital and Regional Development in Turkey(John Wiley and Sons Inc., 2020) Arslan, Hüseyin Mert; Duran, Hasan Engin; 02.03. Department of City and Regional Planning; 02. Faculty of Architecture; 01. Izmir Institute of TechnologyThis paper aims to improve the shortcomings of the empirical literature on regional social capital. The following three research questions are addressed: (i) do regional social capital and economic growth have an endoneous (circular) relationship as opposed to the exogenous one-way relationship assumed in the literature; (ii) What are the socio-economic and demographic determinants of cross-regional variation in social capital? And (iii) Are spatial spillovers relevant in the analysis of these questions? Empirically, we pursue the analysis for 81 Turkish provinces in 2015. Indeed, regional social capital in Turkey is far less studied than country-level social capital. The methodology adopted includes kernel density estimates, ordinary least squares, three stage least squares, and spatial error models. In terms of the obtained results, First, regional social capital is heterogenously distributed across regions. Second, social capital has no significant impact on economic growth but the growth induces the generation of social capital (in social norms). This represents a first result of reserve causality in the literature. Third, a typical province that has high social capital is the one with relatively high income, more even income distribution, low unemployment, big households and older age profile. Fourth, there is the evidence of spatial dependence that should be incorporated in empirical analyses.Article Citation - WoS: 2Citation - Scopus: 2Regional Inflation Persistence in Turkey(John Wiley and Sons Inc., 2021) Duran, Hasan Engin; Dindaroğlu, Burak; Dindaroğlu, Burak; Duran, Hasan Engin; 01.01. Units Affiliated to the Rectorate; 02.03. Department of City and Regional Planning; 01. Izmir Institute of Technology; 02. Faculty of ArchitectureThe purpose of the current study is to investigate the degree of inflation persistence, its geographical variation, sources of cross-regional variation, and presence of geographical/sectoral aggregation bias in national monetary policy. Our data set covers 26 NUTS-2 level Turkish regions and monthly CPI inflation over the period 2003-2019. We first estimate the degree of regional inflation persistence by autoregressive regressions, check its robustness against the presence of structural breaks (by Bai-Perron's algorithm) and nonlinearities (by Markovian Regime Switching regressions). Second, we examine the possibility of geographical and sectoral aggregation bias. Third, we investigate the cross-regional determinants of inflation persistence by panel data analysis, employing hybrid-effects spatial panel regressions. We analyze the direct and indirect effects of the determinants and test for regional spillover effects. Three main results are obtained. First, estimated persistence degrees are heterogeneous across regions. The geographical pattern is empirically robust against structural breaks and nonlinearities. We find that inflation persistence is distributed in a spatially correlated manner. Second, when sectoral and regional aggregation bias is tested, only sectoral aggregation indicates a considerable level of bias. Third, we find that the presence of large firms in the region and a higher share of agricultural output in GDP leads to lower persistence, while an increased share of industrial output, and increased trade volume leads to higher inflation persistence. Moreover, we find spatial spillovers of price variability evident in regression analysis. From a policy standpoint, it is required that structural policy programs are targeted to maintain flexibility in the regions where persistence is high (i.e., providing market entry/exit, institutional quality, policy credibility, stimulation of SMEs). Moreover, sectors that have high persistence, such as Hotels and Restaurants (persistence degree 0.55) and Health Services (0.39) should be weighted more in CPI calculations.Article Citation - WoS: 13Citation - Scopus: 18Short-Run Dynamics of Income Disparities and Regional Cycle Synchronization in the U.s.(John Wiley and Sons Inc., 2014) Duran, Hasan Engin; Duran, Hasan Engin; 02.03. Department of City and Regional Planning; 02. Faculty of Architecture; 01. Izmir Institute of TechnologySince the 1990s, the issue of regional income convergence and its long-term tendencies has been thoroughly and heatedly discussed. Much less attention, however, has been devoted to the short-run dynamics of regional convergence. In particular, three important aspects have not yet been adequately addressed. First, it is indeed essential to understand whether regional disparities manifest a tendency to move systematically along the national cycle. Then, if this happens to be the case, it becomes crucial to know whether 1) these movements are pro- or counter-cyclical,2) the cyclical evolution of the disparities is a consequence of differences in the timing with which the business cycle is felt in regions or it is motivated by the amplitude differences across local cyclical swings. In this paper, we shed light on these issues using data on personal income for the 48 coterminous U.S. states between 1969 and 2008. Our results indicate that income disparities do not move randomly in the short run but follow a distinct cyclical pattern, moving either pro- or counter-cyclically depending on the period of analysis. These patterns are probably explained by the changes in the direction of capital and labor flows that favor developed or poorer states in different periods. As for the underlying mechanism, it appears that the short-run evolution of the disparities in recent years is largely a consequence of differences in the timing with which the business cycle is felt across states rather than the outcome of amplitude differences across local cyclical swings.Article Citation - Scopus: 13Convergence of Regional Economic Cycles in Turkey(John Wiley and Sons Inc., 2013) Duran, Hasan Engin; Duran, Hasan Engin; 02.03. Department of City and Regional Planning; 02. Faculty of Architecture; 01. Izmir Institute of TechnologyDissimilar economic fluctuations and asymmetric shocks across the regions of a country might create severe policy distortions that, under these circumstances, aggregate policy interventions (such as taxation and interest rates), are likely to be sub-optimal for at least a fraction of the regions. For instance, monetary policy can hardly satisfy the needs of all regions when some of the regions are experiencing a boom while others are in a recession phase. For these reasons, similarity of regional business cycles and their convergence are highly desirable from a policy viewpoint. The aim of this paper is, therefore, to provide empirical evidence and policy implications in that context. In particular, I analyze business cycle correlations across Turkish provinces and the tendency of these cycles to converge over the period of analysis between 1975-2000 and 2004-2008 (for Nomenclature of Territorial Units for Statistics [NUTS]-2 regions). I find that regional business cycle asymmetries have tended to decrease in recent decades. This result, although it seems to provide evidence in favor of rising correlations, shows that the convergence process is rather slow and there still exist asymmetries across the regional business cycles.