The European Monetary Union is characterized by a crisis of governance, this has become more evident with the crisis of the euro which has shown the weaknesses of the European institutions and stressed the heterogeneity of member countries. The global financial crisis struck the euro area very...

In order to test the existence of Thirlwall’s law for Turkey during the period of 1980-2008, bounds test approach to cointegration is applied. The empirical results suggest that Thirlwall’s law holds for Turkey. This study also suggests some policy recommendations to curb the deficits in the...

The sovereign debt crisis, which currently affects especially the European Union, challenges on the one side the actuality of hard borders and the reexamination of soft borders (Horga & Brie, 2008), and on the other side the need for the European Union to deal with an even more complex global...

This paper uses a new and comprehensive dataset to investigate the capital structure of non-financial firms in a major emerging market economy, Turkey. We study both statistical and economic significance of four types of leverage factors: Firm-specific, tax-related, industry-specific, and...

Public pension system costs constitute a significant part of government expenses. Private pension systems have been developed as an alternative and/or as a complement to the public systems. In Turkey, the Private Pension System was given a head start in 2003. Although the system aims to provide...

This paper examines the importance of gender on different job mobility patterns using an extensive household survey data from İzmir, third largest city in Turkey. The determinants of job-to-job and job-to-non-employment transitions are analyzed with the help of a multinomial logit estimation...

The investments of Turkish entrepreneurs to other countries increased in the 1990s. This paper explores Turkish FDI abroad focusing on the factors influencing the FDI decision and location choice, using micro data collected from investor firms. A micro level data set for the Turkish FDI abroad...

Innovation system approach, as a result of change in understanding of the innovation process, can be examined in sectoral, regional and national level. Regional innovation system initiatives which aim at increasing the innovative capacity regions have been implemented in the West for a long...

Due to the World Trade Organization’s (WTO) deadlocked multilateral trade negotiations, many countries have started to establish Free Trade Agreements (FTA). In this context, the European Union (EU) and the United States (US) have decided to establish bilateral Transatlantic Trade and...

SMEs have become key catalyst for economic development in Turkey. As the member of EU, SMEs in Turkey is open to borderless opportunities to trade in international market whereby it become major export to the European countries. However, the vulnerable of Turkey’s economic condition and other...