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    Are OECD Countries Converging in Export Diversification? Evidence from PANIC-Fourier Panel Unit Root Test
    (MDPI, 2025) Ozekicioglu, Halil; Topuz, Huseyin; Kazak, Hasan; Kilic, Cuneyt; Akcan, Ahmet Tayfur
    This study examines whether OECD countries have converged over time in terms of export diversification. Focusing on the period 1995-2023, the study employs a new Fourier function-enhanced panel unit root test that takes into account gradual changes instead of sudden breaks. The findings show that more than half of OECD countries have not converged in terms of export diversification. Export diversification plays an important role in achieving economic growth and development as well as long-term sustainability goals. In this context, the study provides critical data for policymakers in support of sustainable development goals. The results point to the need to reassess the economic and environmental impacts of export diversification policies in OECD countries.
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    Determinants of Ecological Footprint in Türkiye: Evidence from the Fourier ARDL Bounds Test Approach
    (Istanbul Univ, 2024) Torun, Mustafa; Kilic, Cuneyt; Akcan, Ahmet Tayfur; Arik, Muserref
    Ecological footprint calculations evaluate sustainability by examining natural resources. The ecological footprint obtained by calculating the number of natural resources per person provides information about the amount of waste produced as well as the natural resources consumed and examines the sustainability of living conditions in the world in this respect. The ecological footprint is one of the frequently encountered topics in the literature in terms of the analysis of environmental impacts. This study examines the factors influencing the Ecological Footprint in Turkey. Using annual data between 1980 and 2018, the relationship of renewable energyconsumption, human capital and urbanization variables to the Ecological Footprint is examined. The Fractional Fourier Augmented Dickey Fuller Unit Root Test and the Fourier Autoregressive Distributed Lag Bound Test is used in the study. There is a statistically significant relationship between the renewable energy, human capital and urbanization variables and the Ecological Footprint. When the outputs obtained in the study are examined, it is seen that the variables affect the ecological footprint. The increased value of these variables can be used to explain why the Ecological Footprint increased. Increasing industrialactivities due to globalization and technological developments, increasing vehicle traffic in cities due to population growth, unplanned urbanization and destruction of green areas due to the sheltering needs of the increasing population, inability of recycling facilities to adapt to the increasing population and unplanned waste management, etc. factors can increase the ecological footprint. However, as urbanization increases, if a correct plan is drawn by taking these factors into consideration, the negative correlation between the ecological footprint and urbanization can be explained. Within the determined plan; Wastewater management, protection of green areas, prevention of unplanned urbanization and efficient use of resources are explanatory at this point. The empirical findings have important policy implications. According to these policy implications, to offset the effects on the ecological footprint, educational activities to raise environmental awareness and adopt energy-efficient lifestyles should be given due importance, various incentives and supports should be implemented and a green-based lifestyle.
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    Does Internet Use Affect Air Pollution? Evidence from OECD Countries
    (Econjournals, 2024) Kurt, Unzule; Kilic, Cuneyt; Akcan, Ahmet Tayfur
    This study aims to analyze the relationship between the use of the internet, which has an important place in information and communication, and air pollution (Carbon Dioxide Emissions-CO2). In this context, the relationship between the variables for the 1994-2019 period in 28 OECD countries selected was tested with the help of a panel data analysis with Fourier functions (Fourier unit root test, panel Fourier cointegration test and panel Fourier causality test). The results of the analysis show that internet use reduces air pollution, while economic growth increases air pollution. The results of the Panel Fourier Granger Causality test revealed a bidirectional causality relationship between internet use and air pollution and a unidirectional causality relationship from air pollution to economic growth throughout the panel. The analysis results present a policy proposal to the governments of OECD countries that they can reduce air pollution by investing in information and communication technologies (ICT) in their economic growth processes. © 2024, Econjournals. All rights reserved.
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    E-Commerce As An Alternative Strategy In Recovery From The Recession
    (Elsevier Science Bv, 2011) Savrul, Mesut; Kilic, Cuneyt
    Globalization leads to a change in virtually everything related to politics, culture and economy. As globalization changed the world, the structure of the globalization concept itself evolved too. Globalization of demographic and socio-economic factors and increasing level of consciousness of consumers led to a structural change in the economy towards industry based old economy to a new economy. The new economy is a knowledge based economy in which e-commerce is a dynamic factor. The Global Financial Crisis, influencing the world since 2007, had negative effects on global trade by causing contradiction in demand of almost all countries, particularly USA and EU. Being a key driver for productivity, competitiveness and thus economic recovery from the crises, e-commerce is thought to help to the enterprises in their efforts to reduce the negative effects of the crisis by increasing their market share, providing price advantages and improving their competitiveness. The study investigates the relation between the weight the enterprises in EU countries gave to e-commerce and their economic performance during the recovery period. The results of the study show that trade volumes and turnover values of the EU members shrank in 2007-2009, while turnover values of e-commerce has been increasing. Also it has been found that e-commerce is more stable than traditional trade in most of the EU members. (C) 2011 Published by Elsevier Ltd. Selection and/or peer-review under responsibility 7th International Strategic Management Conference
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    ECONOMIC FREEDOM, INFLATION RATE AND THEIR IMPACT ON ECONOMIC GROWTH: A PANEL DATA ANALYSIS
    (Inst Economic Forecasting, 2014) Kilic, Cuneyt; Arica, Feyza
    The relationship between economic freedom and economic growth has always been discussed and investigated in the economic literature. This study investigates both the relationship among economic freedom, inflation rate, economic growth and, separately, economic freedom indices, inflation rate and economic growth in 23 upper-middle income countries during 1995-2010. Pooled Least Squares and Two-way Panel Least Squares methods are used to estimate two different models. According to the results of these tests, economic freedom has a significantly positive effect, while inflation rate has a significantly negative effect on economic growth. When the components of economic freedom are examined separately, it was found that the coefficient of some components of economic freedom, such as government size index and business freedom index, were not significant variables. All other components of economic freedom are significantly related to economic growth.
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    Effects of currency unions on foreign direct investment inflows: The European economic and monetary union case
    (Econjournals, 2014) Kilic, Cuneyt; Bayar, Yılmaz; Arica, Feyza
    Reducing exchange rate and inflation, transaction costs and achieving the economic convergence among member countries are major causes of establishing a monetary union. This paper examines the effects of European Economic and Monetary Union on inflows of foreign direct investments to the Eurozone by using panel data from 16 Group of 20 countries for the period 1999-2012. We found that real GDP, GDP growth rate and exchange rates of 16 Group20 countries affect inflows of real foreign direct investment positively while exchange rate volatility, inflation volatility and distance affects inflows of real foreign direct investment negatively. So European Economic and Monetary Union contribute to the inflows of foreign direct investment by reducing the exchange rate volatility, inflation volatility and distance and supporting economic growth. © 2014 Econjournals. All rights reserved.
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    Effects of oil and natural gas prices on industrial production in the Eurozone member countries
    (Econjournals, 2014) Bayar, Yilmaz; Kilic, Cuneyt
    Industrial production is one of the leading indicators of gross domestic product which reflects the overall economic performance of a country. In other words decreases or increases in industrial production point out a contracting or expanding economy. Therefore, changes in prices of oil and natural gas which are the crucial inputs to the industrial production are also important for the overall economy. This study examines the effects of changes in oil and natural gas prices on the industrial production in the 18 Eurozone member countries during the period January 2001-September 2013 by using panel regression. We found that oil prices and natural gas prices had negative effect on industrial production in the Eurozone member countries.
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    Financial Development, Renewable Energy Consumption and Industrial Output Relation: Testing Fourier ARDL for Turkey
    (Sciendo, 2024) Kilic, Cuneyt; Akcan, Ahmet Tayfur; Topkaya, Ozgur; Arik, Muserref
    Energy plays a vital role in every aspect of the economy and in recent years renewable energy is highly debated for its pros and cons. While renewable energy consumption is important for sustainable growth and reduction of environmental damage it has some negative effects on the industrial production. The aim of the study is to examine the relationship between renewable energy consumption, financial development and industrial output for Turkey. Annual data between 1980 and 2019 were used in the study. Fractional Fourier Augmented Dickey-Fuller Unit Root Test and the Fourier Autoregressive Distributed Lag Bound Tests were used to analyze the relationship between variables. As a result of the study, a positive relationship was found between financial development and renewable energy consumption, while a negative relationship was found between industrial output and renewable energy consumption. Our empirical findings have important policy implications. According to these policy implications, the focus should be on a green-based economy with various subsidies, selective taxation procedures and incentive policies to increase the demand for renewable energy use.
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    How Does Economic and Monetary Policy Uncertainty Affect Climate Policy Uncertainty in the United States?
    (Politechnika Lubelska, 2025) Akcan, Ahmet Tayfur; Shahbaz, Muhammad; Kilic, Cuneyt; Kazak, Hasan
    Policy uncertainties can directly affect the outcomes of policies to be implemented. Therefore, it is important to reduce policy uncertainties. Identifying policy uncertainties and related factors is important in this regard. This study examines the impact of economic and monetary policy uncertainty on climate policy uncertainty in the United States. The relationship between the variables is examined asymmetrically using monthly data for 19882022. First, the Augmented Dickey-Fuller Unit Root Test and the Fractional Frequency Fourier Augmented Dickey-Fuller Unit Root Test are applied. The Asymmetric Wavelet Transform Coherence Test is also used to determine the direction and frequency of the relationship between the variables. Asymmetric time-varying causality analysis was used for the causality dimension. The significant relationship between economic policy uncertainty, monetary policy uncertainty and climate policy uncertainty varies at different time periods.
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    Is There an Environmental Kuznets Inverted-U Shaped Curve?
    (Savez Ekonomista Vojvodine, 2018) Kilic, Cuneyt; Balan, Feyza
    This study examines the relationship among carbon dioxide (CO2) emissions, income, energy consumption, trade openness, financial development and institutional quality based on the environmental Kuznets curve (EKC) hypothesis in 151 countries for the period 1996-2010, using the pooled ordinary least squares methods. The results support cubic specification of the EKC hypothesis, which assumes a cubic polynomial inverted-U shaped relationship between income and environmental degradation. Other empirical results indicate that energy consumption, trade openness, financial development and institutional quality are significant variables in explaining CO2 emissions.
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    Relationship Between Migration and Unemployment: Panel Data Analysis for Selected OECD Countries
    (Economic Laboratory Transition Research Podgorica-Elit, 2019) Kilic, Cuneyt; Yucesan, Mesut; Ozekicioglu, Halil
    In this study, impacts of migration on labor market are studied. As changes experienced in the labor market of migration receiving and sending countries impact unemployment figures directly, the study is based on the determining the relationship between migration and unemployment. Literature investigating the relationship between migration and unemployment mainly focuses on the impacts of migration on labor markets. There is no generally accepted opinion on the direction and degree of impact of internal migration and international migration on unemployment. While some of the studies argue that migration has negative impact on unemployment, some argue just the opposite and even some express that there is no significant relationship between migration and unemployment. We investigate this direction and size of the relationship between migration and unemployment in 23 selected OECD countries. In panel data model we found that migration and economic growth have a negative and statistically significant effect on unemployment whereas; the consumer price index and average wages have a positive but statistically meaningless effect. It is observed that results obtained in this study are in parallel with the results of studies in the literature conducted by Kulkolkarn and Potipiti (2007), Heid and Larch (2011), Fromentin (2013) and Latif (2015).
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    Unemployment hysteresis by gender and youth in the EU: evidence from new factor PANIC unit root tests with breaks
    (Emerald Group Publishing Ltd, 2024) Yavuz, Ruya Atakli; Kilic, Cuneyt; Akcan, Ahmet Tayfur
    PurposeUnemployment hysteresis is when the unemployment rate increases at the time of an economic shock and does not return to its previous level after the shock. Unemployment hysteresis is one of the most common economic diseases in labour markets. In this study, unemployment hysteresis is investigated for female, male, youth and general unemployment rates of EU countries.Design/methodology/approachThe new factorial PANIC test was employed to ascertain the existence of hysteresis in the labour market in the EU countries between 1991 and 2023.FindingsAlthough there are some countries where the hysteresis effect is not a priori valid, it is generally accepted that the hysteresis effect is valid in most European countries.Practical implicationsIn order to enhance the labour markets of EU countries, it is recommended that active and passive employment policies be implemented in a more comprehensive manner.Originality/valueWhile there are numerous studies that examine the phenomenon of unemployment hysteresis in relation to general unemployment rates, there are only a limited number of studies that examine it in relation to female, male and youth unemployment rates. Another significant contribution of the study is the utilisation of the new factorial PANIC unit root test approach developed by Payne et al. (2022).