Abstract: Trade liberalization and its effects on the economies of developing countries have been investigated by many different studies, and some of them have focused on its impact on the current account balance. Turkey, as being one of the countries, which has liberalized its foreign trade in the 1980s, also needs to be studied in terms of the impact of liberalization on current account deficits. Therefore, the aim of this study is to find out whether trade liberalization has affected Turkey’s trade and current account balances. In order to determine this, yearly data of Turkey from 1980 to 2013 is used. As liberalization dummy, the year 1989, which was set for Turkey, is selected. Structural break test and model estimation results show that trade liberalization has a negative impact on trade balance but do not have a significant impact on the current account balance.
Abstract: This study1 holds for the formation of international financial crisis and political factors for economic crisis in Turkey, are evaluated in chronological order. The international arena and relevant studies conducted in Turkey work in the literature are assessed. The main purpose of the study is to hold the linkage between the crises and political stability in Turkey in details, and to examine the position of Turkey in this regard. The introduction part follows the literature survey on the models explaining causes and results of the crises, the second part of the study. In the third part, the formations of the world financial crises are studied. The fourth part, financial crisis in Turkey in 1994, 2000, 2001 and 2008 are reviewed and their political reasons are analyzed. In the last part of the study the results and recommendations are held. Political administrations have laid the grounds for an economic crisis in Turkey. In this study, the emergence of an economic crisis in Turkey and the developments after the crisis are chronologically examined and an explanation is offered as to the cause and effect relationship between the political administration and economic equilibrium in the country. Economic crises can be characterized as follows: high prices of consumables, high interest rates, current account deficits, budget deficits, structural defects in government finance, rising inflation and fixed currency applications, rising government debt, declining savings rates and increased dependency on foreign capital stock. Entering into the conditions of crisis during a time when the exchange value of the country-s national currency was rising, speculative finance movements and shrinking of foreign currency reserves happened due to expectations for devaluation and because of foreign investors- resistance to financing national debt, and a financial risk occurs. During the February 2001 crisis and immediately following, devaluation and reduction of value occurred in Turkey-s stock market. While changing over to the system of floating exchange rates in the midst of this crisis, the effects of the crisis on the real economy are discussed in this study. Administered politics include financial reforms, such as the rearrangement of banking systems. These reforms followed with the provision of foreign financial support. There have been winners and losers in the imbalance of income distribution, which has recently become more evident in Turkey-s fragile economy.
Abstract: This paper describes interconnection between
technical and economical making decision. The reason of this dealing
could be different: poor technical condition, change of substation
(electrical network) regime, power transformer owner budget deficit
and increasing of tariff on electricity. Establishing of recommended
practice as well as to give general advice and guidance in economical
sector, testing, diagnostic power transformers to establish its
conditions, identify problems and provide potential remedies.
Abstract: Availability and mobilization of revenue is the main
essential with which an economy is managed and run. While
planning or while making the budgets nations set revenue targets to
be achieved. But later when the accounts are closed the actual
collections of revenue through taxes or even the non-tax revenue
collection would invariably be different as compared to the initial
estimates and targets set to be achieved. This revenue-gap distorts the
whole system and the economy disturbing all the major macroeconomic
indicators. This study is aimed to find out short and long
term impact of revenue gap on budget deficit, debt burden and
economic growth on the economy of Pakistan. For this purpose the
study uses autoregressive distributed lag approach to cointegration
and error correction mechanism on three different models for the
period 1980 to 2009. The empirical results show that revenue gap has
a short and long run relationship with economic growth and budget
deficit. However, revenue gap has no impact on debt burden.