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Öğe Economic policy uncertainty and stock market returns in selected eurozone countries(ASERS Publishing House, 2015) Bayar, Y.; Aytemiz, L.The uncertainties in economic policies may affect macroeconomic variables by affecting the decision making process of the economic agents. This paper examines the impact of economic policy uncertainty in selected Eurozone member countries on stock market returns during the period January 2001-December 2014 by using Dumitrescu and Hurlin (2012) panel causality test. The causality results indicated that there was no causality from economic policy uncertainty at both country level and common level to stock markets, but there was causality from stock market to EPU indexes. On the other hand there was bidirectional causality between stock market and dollar/euro exchange rate. © 2015 ASERS Publishing House. All rights reserved.Öğe Effects of currency unions on foreign direct investment inflows: The European economic and monetary union case(Econjournals, 2014) Kilic, C.; Bayar, Y.; Arica, F.Reducing exchange rate and inflation, transaction costs and achieving the economic convergence among member countries are major causes of establishing a monetary union. This paper examines the effects of European Economic and Monetary Union on inflows of foreign direct investments to the Eurozone by using panel data from 16 Group of 20 countries for the period 1999-2012. We found that real GDP, GDP growth rate and exchange rates of 16 Group20 countries affect inflows of real foreign direct investment positively while exchange rate volatility, inflation volatility and distance affects inflows of real foreign direct investment negatively. So European Economic and Monetary Union contribute to the inflows of foreign direct investment by reducing the exchange rate volatility, inflation volatility and distance and supporting economic growth. © 2014 Econjournals. All rights reserved.Öğe Effects of economic growth, export and foreign direct investment inflows on unemployment in Turkey(LLC CPC Business Perspectives, 2014) Bayar, Y.There have been significant increases in trade volume and foreign direct investment flows in the world in parallel with globalization since 1980s. This study examines the relationship between unemployment, economic growth, export and foreign direct investment inflows in Turkey during the period of 2000:Q1-2013:Q3 by using bound testing approach based on autoregressive distributed lag. We found that there was long run relationship among unemployment, economic growth, export and foreign direct investment inflows. Moreover empirical findings demonstrated that there was a negative relationship between unemployment and economic growth, export, while there was a positive relationship between unemployment and foreign direct investment inflows. © Yilmaz Bayar, 2014.Öğe Effects of oil and natural gas prices on industrial production in the Eurozone member countries(Econjournals, 2014) Bayar, Y.; Kilic, C.Industrial production is one of the leading indicators of gross domestic product which reflects the overall economic performance of a country. In other words decreases or increases in industrial production point out a contracting or expanding economy. Therefore, changes in prices of oil and natural gas which are the crucial inputs to the industrial production are also important for the overall economy. This study examines the effects of changes in oil and natural gas prices on the industrial production in the 18 Eurozone member countries during the period January 2001-September 2013 by using panel regression. We found that oil prices and natural gas prices had negative effect on industrial production in the Eurozone member countries.Öğe Financial development and economic growth in emerging Asian countries(Canadian Center of Science and Education, 2014) Bayar, Y.Many countries removed constraints on goods, services and capital gradually after fall of Bretton Woods system and globalization of financial markets accelerated especially as of 1980s. This process contributed to the development of financial sectors in many countries. Therefore many studies have been conducted about the possible effects of financial sector on major macroeconomic variables in recent years. This study investigates the possible effects of financial sector development on economic growth in emerging Asian countries during the period 1992-2011 by panel regression. We found that various indicators representing the development of banking sector and stock market had positive effect on economic growth in emerging Asian countries.Öğe Financial sustainability of pension systems in the European Union(International Strategic Management Association, 2013) Bayar, Y.Increases in life expectancy together with the decreases in fertility rates are predicted to make financing of public pension systems hard in an environment which some Eurozone member countries have had serious problems in their public finance, in the coming 50 years. European Union member countries, which have very different pension systems, have made pension reforms for sustainability of their pension systems such as increasing retirement age gradually, linking retirement age or benefits with changes in life expectancy, increasing the share of occupational and personal pensions in pension systems by taking into account the ageing and the negative effects of global financial crisis and the ongoing Eurozone sovereign debt crisis on public finance. This paper examines the pension systems in the European Union and evaluates the financial sustainability of pension systems in consideration of pension expenditures, ageing and the Eurozone sovereign debt crisis. Findings demonstrated that recent pension reforms by some European Union countries have mitigated the financial burden of pension systems, but further measures should be taken for the financial sustainability of pension systems.Öğe Impact of economic freedom, political stability and economic growth in the USA on emerging Asian economies(National Academy of Management, 2015) Bayar, Y.; Aytemiz, L.This study examines the impact of economic freedom, political stability and economic policy uncertainty in the United States on economic growth in emerging Asian countries during the period 2002-2013 using Westerlund’s Durbin-Hausman cointegration tests and Dumitrescu-Hurlin panel causality test. A long-run relationship between economic growth, political stability, economic freedom and economic policy uncertainty in the US has been founded. Economic freedom and political stability had positive impact on economic growth, while economic policy uncertainty in the US had mixed impact on economic growth. The Dumitrescu-Hurlin panel causality test demonstrated a unidirectional causality from economic freedom to economic growth and from economic growth and economic policy uncertainty in the US, while there was bidirectional causality between political stability and economic growth. ©Yilmaz Bayar, Levent Aytemiz, 2015.Öğe Population aging and economic growth in EU member states(IGI Global, 2021) Bayar, Y.; Karamikli, A.The improvements in economic development, living standards, and the health sector have raised the life expectancy on the world. The rising life expectancy together with decreasing fertility rates have led to population aging. The population aging phenomenon has led the researchers to explore the social and economic implications of population aging in different countries and country groups. In the chapter, the authors explore the causality between population aging and economic growth in EU member states during the period of 1996-2019 through causality analysis and revealed a reciprocal causality between population aging and economic growth. © 2021, IGI Global.
