This paper considers the major determinants of the current account in the new members of the EU. It examines the long-run and short-run impact of real exchange rate, investment, private and public savings on current account. The bounds testing autoregressive distributed lag (ARDL) approach to...

The aim of this study is to examine the long-run relationship between the current account and relative prices such as terms of trade and real exchange rate for the emerging economies. These variables have been exposed to large fluctuations for more than the last two decades nearly in all...

This study includes the analysis of global trade in the services and service sector in Turkey, and estimates the elasticity of trade in services to real exchange rates and income. There is an increasing role of the service sector in the Turkish economy; however, a decreasing trend of trade in...

The purpose of this paper is to investigate the level of capital mobility in European Union members using the Feldstein-Horioka puzzle proposed by Feldstein and Horioka (1980) in order to investigate relations between saving and investment flows. In this paper, data for 27 European countries...

The divergence of the purchasing power parity from the equilibrium exchange rate is attributed to various factors. Productivity differentials between the countries are said to be one of the main sources, which lead to productivity bias hypothesis. The hypothesis suggests that a relatively more...

This study presents an empirical analysis of the impact of the global financial crisis on the economic development of the Eurasian region. The region covers fifteen states of the former Soviet Union: Armenia, Azerbaijan, Belarus, Estonia, Georgia, Kazakhstan, Kyrgyz Republic, Latvia, Lithuania,...

The Greek-Turkish relations have been complex in different aspects for a long time. However, neighborhood makes these countries close to each other in political, military and economic terms. Geopolitical location of Turkey makes it strategically important for Greece. Despite of the economic...

This paper estimates tourism demand model for Turkey from 13 countries: Austria, Belgium, Bulgaria, Denmark, France, Germany, Holland, Italy, Russia, Sweden, Switzerland, United Kingdom and United States. The aim of this paper is to investigate the determinants of demand for Turkey’s tourism...

This research presents first empirical evidence on the dynamic relationship between output, renewable and non-renewable energy production, international trade, capital and labour in the case of the EU-15 countries over the period of 1980-2015 for individual countries as well as a group. A simple...

The effect of the global financial crisis on the international trade patterns of developed countries has been one of the main focuses of recent studies. However, the dependence level of world trade on emerging markets increases every day. Therefore, it is important to study the level of the...