Browsing by Author "Halac, Umut"

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Citation - WoS: 12
AN ASSESSMENT OF INNOVATION EFFICIENCY IN EECA COUNTRIES USING THE DEA METHOD
(EMERALD GROUP PUBLISHING LTD, 2020) Rustem Baris Yesilay; Umut Halac; Halac, Umut; Yesilay, Rustem Baris; S Grima; E Ozen; H Boz
Introduction - In recent years there has been a growing interest in innovation not only in developed countries but also in developing countries. However there has been limited literature for the developing countries. Purpose - The literature on national innovation systems (NIS) mainly consists of case studies or qualitative researches aiming to explain the patterns of innovation while the quantitative analysis are limited in explaining the innovation capability and efficiency of innovation. This study is unique in a sense that it compares the innovation efficiencies of the EECA countries. This chapter aims to measure the efficiency of NIS via data envelopment analysis (DEA) method. Methodology - DEA is used to consider a sample of 18 Eastern European and Central Asian (EECA) countries and Turkey. One of the main issues is to determine the input and output variables because the available data for some of these countries were limited. Therefore research and development expenditure (% of GDP) government expenditure on education total (% of GDP) imports of goods and services (% of GDP) and foreign direct investment net inflows (% of GDP) were determined as input variables. Output variables were as follows, patent applications both residents and non-residents high-technology exports (% of manufactured exports) and scientific and technical journal articles. Findings - Based on the key findings it can be noted that Kazakhstan Turkey Latvia and Uzbekistan are more efficient in innovation performance compared to other EECA countries. Throughout the results of the DEA these countries may develop new policies about their innovation systems to reach out the higher performance.
Determinants of sustainable innovative capacities in transition economies
(Taylor and Francis, 2019) Rustem Baris Yesilay; Umut Halaç; Halac, Umut; Yesilay, Rustem Baris
[No abstract available]
Examining the Impact of Financial Development on Carbon Emissions: Insights from Emerging Economies
(ISTANBUL UNIV, 2025) Umut Halac; Fatma Deniz Dermenci; Seher Goren Yargi; Melis Gultekin Aslan; Yargi, Seher Goren; Halac, Umut; Dermenci, Fatma Deniz; Aslan, Melis Gultekin
This study investigates the impact of financial market development on the environmental quality of emerging countries through an analysis of panel data from 21 Emerging Countries covering the period from 2001 to 2023. To accomplish this objective we constructed stock market-based and banking sector-based indices to measure the level of financial market development using principal component analysis. We then identified the cross-sectional dependence and employed unit root testing to ensure accurate estimation. By employing a panel ARDL bound test we demonstrate thatfinancial development positively impacts environmental quality in emerging countries. The findings provide new insights for researchers and policymakers who seek to develop comprehensive energy supply and economic policies to alleviate the adverse effects of pollution.
OIL PRICE SHOCKS AND MACROECONOMIC INSTABILITY IN NIGERIA: EVIDENCE FROM GVAR
(INT JOURNAL CONTEMPORARY ECONOMICS & ADMINISTRATIVE SCIENCES, 2019) Nawasi Uba Jibril; Umut Halac; Halac, Umut; Jibril, Nawasi Uba
The study examines the relationship between oil price shocks and selected macroeconomic variables in Nigeria. It adopts a Global Vector Autoregressive (GVAR) model which includes Nigeria's major trade partners in examining the relationship. This provides a holistic picture of how oil price shocks are conveyed to Nigeria via the first round as well as through the spillover effects. The variables employed are Real Gross Domestic Product (y) inflation (Dp) short-term interest rate (r) money supply (ms) and real effective exchange (epeps) as the domestic variables while oil price is included as global variable. Quarterly data were used spanning the period 1979Q2 to 2013Q1. The economies included are Nigeria the United States Euro Area India China Brazil United Kingdom and South Africa. The findings of the study reveal that an upsurge in oil price leads to increase in real output money supply as well as a mild increase in the real effective exchange rates of Nigeria while inflation and short-term interest rate fall.
The Effect of Institutional Quality on Banking Performance in Emerging Countries
(Savez Ekonomista Vojvodine, 2026) Celik, Ilyas; Halac, Umut; Durak, Mustafa Gurol
Banks play a crucial role in the economy and improving their performance leads to healthier economic activities. Therefore, the methods of efficiently measuring bank performance need to be highlighted. The CAMELS rating system has become the most comprehensive and contemporary measurement method in this context. Various factors, both bank-specific and countryspecific, affect bank performance. Among these factors, the Worldwide Governance Indicators reflect the public's perception of institutional quality, a proxy for country-specific factors. This study aims to analyze the impact of the Worldwide Governance Indicators on bank performance, using a sample of 1649 banks in 26 emerging countries within the 2008-2018 period. The system GMM results demonstrate that these indicators significantly affect banking performance in different aspects and directions.
Citation - Scopus: 2
The gender-responsive budgeting: A way of coping with gender inequalities
(Taylor and Francis, 2021) Umut Halaç; Halac, Umut
[No abstract available]
Citation - WoS: 6
Citation - Scopus: 10
The Turkish Stock Market Integration with Oil Prices: Cointegration Analysis with Unknown Regime Shifts
(SAVEZ EKONOMISTA VOJVODINE, 2013) Umut Halac; Fatma Dilvin Taskin; Efe Caglar Cagli; Halac, Umut; Taskin, Fatma Dilvin; Cagli, Efe Caglar
Oil prices are often considered as a vital economic factor due to the dependence of the world economy on oil. The goal of this paper is to contribute to the literature on the dynamic relationship between oil prices and stock prices under the presence of possible structural breaks in an emerging market Turkey. The empirical evidence suggests that the oil prices are important in explaining the stock market movements. Stock prices oil prices and nominal exchange rates are found as cointegrated after taking structural breaks into account. Moreover results of parameter stability test are consistent with our findings indicating that relationship between series is strong in the long-run. The results are important in the way that they show the global factors are also dominant on the Turkish stock market.
WOMEN'S ENTREPRENEURSHIP IN TURKEY: EVIDENCE FROM OECD DATA
(INT JOURNAL CONTEMPORARY ECONOMICS & ADMINISTRATIVE SCIENCES, 2021) Duygu Seckin-Halac; Umut Halac; Halac, Umut; Seckin-Halac, Duygu
Beyond being an employment choice its contributions to national development and being one of the main actors in fighting against unemployment women's entrepreneurship has become a much-debated supported and subjected concept to many research fields. However from a socially constructed perspective after the 1990s the supposedly generic structure of entrepreneurship was considered gendered. Consequently less ambitious less profit-oriented smaller-scale kind of generalized references to women have started to be regarded as the results of measurement mistakes. From this perspective one of the fundamental determinants of women's entrepreneurship is family embeddedness consisting of unpaid household chores and childcare responsibilities. In this context this study aims to quantitatively reveal if family-embeddedness affects the number of women entrepreneurship in Turkey as well as economic factors. In the case of its association it indicates how depending on OECD data. With this aim OECD data covering 2006-2017 is used for a causality analysis. The findings show causal links between economic and non-economic factors and the number of women's entrepreneurship.