At the beginning of the XXIst century, the importance of innovation is brought in light mainly due to the huge differences that exist between the living standard of the richest and of the poorest nations, differences that could be partly explained through the fact that the most advanced...

This paper explores and unpacks the nature of the processes shaping regional economic growth in Turkey using an econometric modelling strategy. Economic modelling is an important approach to the analysis and understanding of regional growth and development. Over the decades, there have been a...

We propose a small open economy model where agents borrow internationally and invest in liquid foreign assets to insure against liquidity shocks, which temporarily shut out the economy of short-term credit markets. Due to the presence of a pecuniary externality individual agents borrow too much...