This study provides a general equilibrium model to explore the welfare implications of bank regulation and supervision (RS). The model supports the basic expectations regarding the positive effects of RS on the growth rate, output, credit, investment, wages and profits; and its negative effects...

This paper proposes a formal framework to analyze the process of institutional evolution in relation with economic progress. Institutions have both formal (F) and informal (N) aspects that may exhibit varying processes of change. N is hypothesized to evolve with the level of capital stock, as in...

Modeling the evolution of formal institutions in relation to the evolution of economic and informal institutionaldevelopment. Discrete time optimization; simulation. The punctuations and the evolution formal institutional quality depends on the extent of economic heterogenety.

In this paper, Turkish high and persistent inflation experience and its impact on inflation uncertainty and growth have been investigated. GARCH models are used to generate a measure of inflation uncertainty and quarterly data covers the period of 1987:1-2003:3. According to the results from...

Bu çalýþmada, Türkiye’de enflasyon-ekonomik büyüme iliþkisi 1987:1-2003:2 dönemi için test edilmiþtir. Çalýþmadan elde edilen bulgulara göre; enflasyon ekonomik büyümeyi negative yönde etkilemektedir. Þöyle ki, enflasyon oranýndaki %10’luk bir artýþ ekonomik büyümeyi...

This study first provides an outline of Kaldor's growth model and then tests its relevance to the economic experience of Turkey during the period 1963-2005 by using cointegration and causality tests. Kaldor's first law states that manufacturing is the engine of economic growth, whereas the...