The article describes “the theory of devaluation of values” developed by the author. In accordance with this theory, economic growth takes place using two inter-connected phenomena: a) reduction in time necessary for “the set of benefits (goods) currently consumed” to be produced, on the...

For effective economic growth, intentional “creation” of unemployment is required to be followed up by its «elimination». From Okun’s law one can infer an interesting corollary: growing unemployment without reducing GDP increases the economy’s potential. This corollary can be proved...

The article describes “the theory of value depreciation” developed by the author. In accordance with this theory, economic growth takes place using two inter-connected phenomena: (a) reduction in time necessary to produce “the set of goods currently consumed” (first form of value...

For effective economic growth, intentional “creation” of unemployment is required to be followed up by its «elimination». From Okun’s law one can infer an interesting corollary: growing unemployment without reducing GDP increases the economy’s potential. This corollary can be proved...

This paper provides a model to account for the empirical evidence that volatility reduces growth. In the model, greater volatility increases the cost associated with capital market imperfections and induces the financial intermediaries to charge higher interest rates. The model is based on one...

This paper investigates the causes of Turkish export-boom after 2000 in the manufacturing sector. We mainly concentrate on cost and productivity aspects of the production in the manufacturing sector. Effects of productivity, wage and exchange rate are analyzed in the framework of the augmented...

This paper examines Turkey’s international cost competitiveness in manufacturing with respect to the Slovak Republic, and quantitatively investigates the relationship between Turkish cost competitiveness and the exports of manufactured goods at an industry level. The Relative Unit Labor Cost...