On 8 December 2024, the Assad regime in Syria was overthrown by a rebel alliance led by Hay’at Tahrir al-Sham (HTS). The collapse of the family dictatorship was made possible by shifts in regional and international power dynamics. Key factors included Turkish support for the rebels, the...

On 8 December 2024, the Assad regime in Syria was overthrown by a rebel alliance led by Hay’at Tahrir al-Sham (HTS). The transitional government under Ahmad al-Sharaa now faces enormous economic, social and political challenges. It has yet to establish control over the country as a whole; and...

The techno-geopolitical rivalry between China and the United States has intensified in recent years. Turkey's souring relations with the US over the past decade has prevented the former from reaping the spoils of the Sino-US tech war as an American ally. Ankara has its own ambitions in the...

In the early 1980s, Turkey took steps towards financial liberalization. Accordingly, policymakers have implemented policies for the development of the financial system. Since then, developments in the banking sector have driven economic growth and met the private sector's demand for funds. The...

The Special Issue analyzes the impact of taxes and transfers on poverty and inequality in the TCc. It shows that fiscal policy has only a limited impact on reducing inequality, but the system cannot reduce poverty. The Special Issue provides an initial step towards understanding the...

The recovery of the Turkish Cypriot (TC) economy in 2023 was stronger than expected, and GDP is estimated to have rebounded to its pre-pandemic level. Following a deep recession in 2020-the deepest in Europe and the history of the TC economy, and after a modest recovery in 2021, the TC economy...

This study investigates the effect of electricity consumption on air pollution in Türkiye at the provincial level through spatial analyses. Using SO2 and PM10 measurements as indicators of air pollution, this study incorporates income, population density, and electricity consumption as...

The changing geopolitical situation in the European region has actualized the issues of further EU enlargement. As a result, the relevance of studying many aspects of the functioning economic systems of candidate countries has increased. In this context, the purpose of this article is to...

This study analyzes the dynamics of house prices across Istanbul's districts using a unique dataset of house prices and socioeconomic characteristics from 2010Q1 to 2022Q1. The log-t convergence test identifies four convergence clubs, with their formation beginning after 2015, highlighting the...

This study conducts a comprehensive analysis of the effects of changes in financial conditions on the economy of Türkiye, for which financial conditions indices were constructed. To examine possible changes in the relationship between financial conditions and the real economy due to the unique...

Examining the gradual information diffusion hypothesis of Hong et al. (2007)in an emerging market context, we show that industry returns possess predictive information regarding the direction of the aggregate stock market in Borsa Istanbul, both in- and out-of-sample, and that the predictive...

This study investigates the relationship between gold prices, agricultural commodity prices (rice, flour, bean, chickpea, lentil, and sugar), and Turkish stock markets. Using the Fourier Toda-Yamamoto causality test and wavelet coherency approach, we find that gold prices significantly influence...

Turkey is at risk of descending into autocracy. That risk persists even though the resistance put up by the opposition Republican People’s Party following the arrest of Mayor of İstanbul Ekrem İmamoğlu has saved the party - at least for now - from being placed under a trustee and the...

This study looked at the complex interactions between agreeableness as a personality trait and five deviant workplace behaviours (including experienced incivility and innovative deviant behaviour) and the role of perceived stress as a mediating mechanism in front-of-house hotel workers. The...

ECDC is helping countries in the Western Balkans and Türkiye to improve their infectious disease prevention and control systems and public health workforce to prepare them for their future participation in ECDC's work. Technical cooperation with Western Balkans and Türkiye aims to improve...

In this Institutional Paper the Directorate General for Economic and Financial Affairs brings together into a single document the economic chapters of the European Commission's country reports for the ten enlargement countries Albania, Bosnia and Herzegovina, Georgia, North Macedonia, Kosovo,...

The health crisis of 2020 has highlighted the occupational risk associated with COVID-19. Eurostat launched several surveys on the possibility of recognising the occupational nature of COVID-19, and its legal status with the recognition. This information allowed presenting the national...

According to the German Federal Statistical Office, 2.9 million people in Germany had a Turkish migration background in 2022. Thus, Turkey represents one of the most important countries of origin for migrants in Germany. In the last decade, however, Turkey has also become an important transit...

This paper explores how systematic higher order moments (co-skewness and co-kurtosis) are priced in Borsa Istanbul. We tested the significance of higher order co-moments and analyzed their contribution to the standard capital asset pricing model and the Fama and French (2015) 5-factor model. We...

The goal of building a diversified portfolio is to mitigate risks and manage risk-reward tradeoffs. Diversification is also crucial for ensuring the long-term success of a portfolio. Although passive investment has been on the rise in most developed markets, it has not gained wider acceptance in...

The Media Pluralism Monitor (MPM) is a research tool that is designed to identify potential risks to media pluralism in the Member States of the European Union and in Candidate Countries. This narrative report has been produced on the basis of the implementation of the MPM that was carried out...