PurposeFor close to two decades, the West African Monetary Zone (WAMZ) has been preparing to laun... more PurposeFor close to two decades, the West African Monetary Zone (WAMZ) has been preparing to launch a second monetary union within the ECOWAS region. This study aims to determine the impact such a unionised monetary regime will have on financial stability as represented by the nonperforming loan ratios of Ghana in a counterfactual framework.Design/methodology/approachThis study models nonperforming loan ratios as dependent on the monetary policy rate and the business cycle. The study then used historical data to estimate the parameters of the nonperforming loan ratio response function using an Autoregressive Distributed Lag (ARDL) approach. The estimated parameters are further used to estimate the impact of several counterfactual unionised monetary policy rates on the nonperforming loan ratios and its volatility of Ghana. As robustness check, the Least Absolute Shrinkage Selection Operator (LASSO) regression is also used to estimate the nonperforming loan ratios response function an...
Economic interventions have social consequences. In this paper, we explore one such relationship,... more Economic interventions have social consequences. In this paper, we explore one such relationship, between microfinance intensity and social distrust levels reported by the low-income people. We find a significant association between microfinance intensity in a country and distrust among the poor as well as ultra-poor in cross-section using World Values Survey & European Values Survey (WVS-EVS) Wave 7 (2017–2022). We supplement these findings using empirical Bayes on a panel extending back from 7th to the 4th WVS wave (1999–2004). To deal with potential endogeneity, we run 2SLS as well as weak instruments-robust conditional instrumental variable tests and find evidence showing microfinance prevalence intensity affects distrust levels among the poor and ultra-poor households. We find no association between microfinance and distrust levels in the rich in any of the tests, potentially because the rich are not exposed to microfinance.
There has been considerable debate in the literature concerning whether uniform or discriminatory... more There has been considerable debate in the literature concerning whether uniform or discriminatory pricing raise more revenue in Treasury Bill auctions. A standard ap-proach has been to examine empirically how revenue changes given a switch from one type to the other. The weakness of this approach is that such a revenue change may be due to changes in economic conditions. This paper is the first to examine the two meth-ods while taking into account changes in economic conditions. To do this, it adopts a three-stage procedure. First, it fits a logistic function to the cumulative bid distribution for each auction. Second, it estimates two sets of equations relating the logistic function parameters to economic conditions, one for uniform and one for discriminatory pricing, on the assumption that T-bill offerings by the government are exogenous. And third, using the estimated equations, it predicts how much revenue would have been raised from discriminatory price auctions if instead unif...
Robotizasyon yolunda hizla ilerleyen ulkeler, etkinlik ve verimliliklerini artirarak diger ulkele... more Robotizasyon yolunda hizla ilerleyen ulkeler, etkinlik ve verimliliklerini artirarak diger ulkelere goreceli ustunluk saglayabilirler. Bu calisma robotizasyonun Islam Kalkinma Bankasi (IKB) uyesi ulkelerin goreceli konumunu nasil etkileyecegi uzerine odaklanmaktadir. Diger bir deyisle IKB uye ulke ekonomilerinin robotizasyonun yarattigi tsunamiye goreceli dayanikliliklari nasildir. Bu calisma bunu yapmak icin, iki farkli veri kumesi kullanarak hesaplayacagim, esnekligi robotizasyona gore siralamamizi saglayacak bir endeks onermektedir. Ilk veri seti IKB uye ulkerinin 1995-2016 arasi ihracatlarini kapsayan COMTRADE veri setidir. Ikinci veri kumesi, ayrintili sektorel seviyelerdeki beseri sermaye yogunlugunu icermektedir.Bu veri Birlesmis Milletler Ticaret Gelistirme Konferansi (UNCTAD) tarafindan hazirlanan Aciklanmis Faktor Yogunluk Endeksleri veritabanindan alinmistir. Bu iki veri setini kullanarak her bir IKB uye ulkenin ihracat sektorlerinin beseri sermaye yogunlugunu gosteren bi...
This study investigates the impact of COVID-19 on the work life, savings behavior, and attitudes ... more This study investigates the impact of COVID-19 on the work life, savings behavior, and attitudes towards traveling among people living in Turkey. Responses from 1529 participants were collected as a part of this study through an online-administered survey between 14 May and June 9, 2020..
The emergence of advanced technologies has brought new challenges and opportunities for all kinds... more The emergence of advanced technologies has brought new challenges and opportunities for all kinds of business organizations. In a technologically advanced era, innovation plays a dominant role for the successful operation of the commercial landscape. Therefore, the current study was conducted to investigate the impact of network capabilities (NC) and frugal innovation (FI) on innovation performance (IP). Furthermore, the mediating role of FI and moderating role of innovation strategies has also been tested on the link between NC and IP. Small and medium enterprises (SMEs) registered with small and medium enterprises development authorities (SMEDA) were approached for the completion of the current study. Only 509 owner/managers agreed to participate. A quantitative research design was employed for the current study. During the two–three months process of data collection only 387 complete responses were received from the SMEs working in Pakistan’s big cities. Correlation, regression a...
Onumuzdeki yillarda yikici teknolojik ilerlemelerin istihdam uzerinde buyuk etkileri olacaktir. G... more Onumuzdeki yillarda yikici teknolojik ilerlemelerin istihdam uzerinde buyuk etkileri olacaktir. Gecmiste oldugu gibi, yeni teknolojiler insanlarin nasil yasadiklarini ve calistiklarini degistirecektir. Bazi meslekler modasi gecip yok olacak, buna karsilik yeni meslekler ortaya cikacaktir. Sonuc olarak, insanlar bazi meslekleri birakacak; yeni mesleklerde calisabilmek icin ise yeni beceriler edinmek zorunda kalacaklardir.Her ne kadar robotizasyon gibi yeni teknolojilerin yayginlasmasinin bircok boyutu olsa da, yapisal issizlikten gelir dagilimina kadar da muhtemel etkileri olacaktir. Akla gelen ilk soru, yeni teknolojilerin isgucu talebi uzerindeki etkisinin ne olacagidir? Yeni teknolojilerin uretkenligi, dolayisiyla toplam geliri artirdigi dusunuldugunde, akla gelen ikinci soru ise gelirdeki artisin calisanlarin farkli beceri duzeyleri ozellikle de dusuk ve yuksek kalifiye isgucu arasinda nasil dagilacagi olmaktadir.Bu nedenle, bu calismada robotizasyonun yapisal issizlik, isgucu ta...
Political Economy - Development: Domestic Development Strategies eJournal, 2016
The developments in the trade flows during the last few decades show a changing structure of it a... more The developments in the trade flows during the last few decades show a changing structure of it as trade between countries other than developed ones has gaining more importance than ever. Traditionally, raw materials and goods based on labor intensive or low skill, low technology production flow from developing countries, the South to the developed world, the North. The South imports goods based on capital intensive production and high technology from the North. However, because of the recent financial crises and the economic turmoil started in the developed world, the South has to diversify its exports markets. The increased economic activity and dynamic economic environment together with favorable demographics, the South emerged as an additional market for themselves especially in the last years. With the increase in the overall growth of the South and its decreasing dependence on trade to the North, the South-South trade -trade among countries of the South can provide basis for m...
The intensive use of wireless spectrum in communications necessitates complex allocation mechanis... more The intensive use of wireless spectrum in communications necessitates complex allocation mechanisms for spectrum licenses. The Federal Communications Commission (FCC) uses simultaneous ascending auctions, an innovative auction mechanism, to address the complexities created by the frequencies, bandwidths and geographic locations of spectrum licenses. In this study I discuss the objectives of spectrum auctions, and analyze the strategic auction design issues faced by the FCC; including price discovery, exposure, and information disclosure problems. Finally, I analyze how the FCC addresses these issues in light of the simultaneous ascending auction mechanism, and identify areas for improvement in strategic spectrum auction design.
Robotizasyon yolunda hizla ilerleyen ulkeler, etkinlik ve verimliliklerini artirarak diger ulkele... more Robotizasyon yolunda hizla ilerleyen ulkeler, etkinlik ve verimliliklerini artirarak diger ulkelere goreceli ustunluk saglayabilirler. Bu calisma robotizasyonun Islam Kalkinma Bankasi (IKB) uyesi ulkelerin goreceli konumunu nasil etkileyecegi uzerine odaklanmaktadir. Diger bir deyisle IKB uye ulke ekonomilerinin robotizasyonun yarattigi tsunamiye goreceli dayanikliliklari nasildir. Bu calisma bunu yapmak icin, iki farkli veri kumesi kullanarak hesaplayacagim, esnekligi robotizasyona gore siralamamizi saglayacak bir endeks onermektedir. Ilk veri seti IKB uye ulkerinin 1995-2016 arasi ihracatlarini kapsayan COMTRADE veri setidir. Ikinci veri kumesi, ayrintili sektorel seviyelerdeki beseri sermaye yogunlugunu icermektedir.Bu veri Birlesmis Milletler Ticaret Gelistirme Konferansi (UNCTAD) tarafindan hazirlanan Aciklanmis Faktor Yogunluk Endeksleri veritabanindan alinmistir. Bu iki veri setini kullanarak her bir IKB uye ulkenin ihracat sektorlerinin beseri sermaye yogunlugunu gosteren bi...
The intensive use of wireless spectrum in communications necessitates complex allocation mechanis... more The intensive use of wireless spectrum in communications necessitates complex allocation mechanisms for spectrum licenses. The Federal Communications Commission (FCC) uses simultaneous ascending auctions, an innovative auction mechanism, to address the complexities created by the frequencies, bandwidths and geographic locations of spectrum licenses. In this study I discuss the objectives of spectrum auctions, and analyze the strategic auction design issues faced by the FCC; including price discovery, exposure, and information disclosure problems. Finally, I analyze how the FCC addresses these issues in light of the simultaneous ascending auction mechanism, and identify areas for improvement in strategic spectrum auction design.
This paper aims to determine the interaction of commercial energy distribution, including the ins... more This paper aims to determine the interaction of commercial energy distribution, including the installed capacity of hydroelectric energy, hydroelectric energy generation, the installed capacity of thermal energy, thermal energy generation, the installed capacity of nuclear energy, and nuclear energy generation, with economic progress in Pakistan over the 1970–2019 period. Both linear and non-linear autoregressive distributed lag models were used to ascertain the symmetric and asymmetric short- and long-run effects. The findings from the linear autoregressive distributed lag model analysis revealed evidence that increases in the installed capacity of nuclear energy, alongside higher levels of hydroelectric energy generation and thermal energy generation, have positively affected economic growth in the short run, while a greater installed capacity of nuclear energy has positively affected economic growth in the long run. The findings from the non-linear autoregressive distributed lag ...
PurposeFor close to two decades, the West African Monetary Zone (WAMZ) has been preparing to laun... more PurposeFor close to two decades, the West African Monetary Zone (WAMZ) has been preparing to launch a second monetary union within the ECOWAS region. This study aims to determine the impact such a unionised monetary regime will have on financial stability as represented by the nonperforming loan ratios of Ghana in a counterfactual framework.Design/methodology/approachThis study models nonperforming loan ratios as dependent on the monetary policy rate and the business cycle. The study then used historical data to estimate the parameters of the nonperforming loan ratio response function using an Autoregressive Distributed Lag (ARDL) approach. The estimated parameters are further used to estimate the impact of several counterfactual unionised monetary policy rates on the nonperforming loan ratios and its volatility of Ghana. As robustness check, the Least Absolute Shrinkage Selection Operator (LASSO) regression is also used to estimate the nonperforming loan ratios response function an...
Economic interventions have social consequences. In this paper, we explore one such relationship,... more Economic interventions have social consequences. In this paper, we explore one such relationship, between microfinance intensity and social distrust levels reported by the low-income people. We find a significant association between microfinance intensity in a country and distrust among the poor as well as ultra-poor in cross-section using World Values Survey & European Values Survey (WVS-EVS) Wave 7 (2017–2022). We supplement these findings using empirical Bayes on a panel extending back from 7th to the 4th WVS wave (1999–2004). To deal with potential endogeneity, we run 2SLS as well as weak instruments-robust conditional instrumental variable tests and find evidence showing microfinance prevalence intensity affects distrust levels among the poor and ultra-poor households. We find no association between microfinance and distrust levels in the rich in any of the tests, potentially because the rich are not exposed to microfinance.
There has been considerable debate in the literature concerning whether uniform or discriminatory... more There has been considerable debate in the literature concerning whether uniform or discriminatory pricing raise more revenue in Treasury Bill auctions. A standard ap-proach has been to examine empirically how revenue changes given a switch from one type to the other. The weakness of this approach is that such a revenue change may be due to changes in economic conditions. This paper is the first to examine the two meth-ods while taking into account changes in economic conditions. To do this, it adopts a three-stage procedure. First, it fits a logistic function to the cumulative bid distribution for each auction. Second, it estimates two sets of equations relating the logistic function parameters to economic conditions, one for uniform and one for discriminatory pricing, on the assumption that T-bill offerings by the government are exogenous. And third, using the estimated equations, it predicts how much revenue would have been raised from discriminatory price auctions if instead unif...
Robotizasyon yolunda hizla ilerleyen ulkeler, etkinlik ve verimliliklerini artirarak diger ulkele... more Robotizasyon yolunda hizla ilerleyen ulkeler, etkinlik ve verimliliklerini artirarak diger ulkelere goreceli ustunluk saglayabilirler. Bu calisma robotizasyonun Islam Kalkinma Bankasi (IKB) uyesi ulkelerin goreceli konumunu nasil etkileyecegi uzerine odaklanmaktadir. Diger bir deyisle IKB uye ulke ekonomilerinin robotizasyonun yarattigi tsunamiye goreceli dayanikliliklari nasildir. Bu calisma bunu yapmak icin, iki farkli veri kumesi kullanarak hesaplayacagim, esnekligi robotizasyona gore siralamamizi saglayacak bir endeks onermektedir. Ilk veri seti IKB uye ulkerinin 1995-2016 arasi ihracatlarini kapsayan COMTRADE veri setidir. Ikinci veri kumesi, ayrintili sektorel seviyelerdeki beseri sermaye yogunlugunu icermektedir.Bu veri Birlesmis Milletler Ticaret Gelistirme Konferansi (UNCTAD) tarafindan hazirlanan Aciklanmis Faktor Yogunluk Endeksleri veritabanindan alinmistir. Bu iki veri setini kullanarak her bir IKB uye ulkenin ihracat sektorlerinin beseri sermaye yogunlugunu gosteren bi...
This study investigates the impact of COVID-19 on the work life, savings behavior, and attitudes ... more This study investigates the impact of COVID-19 on the work life, savings behavior, and attitudes towards traveling among people living in Turkey. Responses from 1529 participants were collected as a part of this study through an online-administered survey between 14 May and June 9, 2020..
The emergence of advanced technologies has brought new challenges and opportunities for all kinds... more The emergence of advanced technologies has brought new challenges and opportunities for all kinds of business organizations. In a technologically advanced era, innovation plays a dominant role for the successful operation of the commercial landscape. Therefore, the current study was conducted to investigate the impact of network capabilities (NC) and frugal innovation (FI) on innovation performance (IP). Furthermore, the mediating role of FI and moderating role of innovation strategies has also been tested on the link between NC and IP. Small and medium enterprises (SMEs) registered with small and medium enterprises development authorities (SMEDA) were approached for the completion of the current study. Only 509 owner/managers agreed to participate. A quantitative research design was employed for the current study. During the two–three months process of data collection only 387 complete responses were received from the SMEs working in Pakistan’s big cities. Correlation, regression a...
Onumuzdeki yillarda yikici teknolojik ilerlemelerin istihdam uzerinde buyuk etkileri olacaktir. G... more Onumuzdeki yillarda yikici teknolojik ilerlemelerin istihdam uzerinde buyuk etkileri olacaktir. Gecmiste oldugu gibi, yeni teknolojiler insanlarin nasil yasadiklarini ve calistiklarini degistirecektir. Bazi meslekler modasi gecip yok olacak, buna karsilik yeni meslekler ortaya cikacaktir. Sonuc olarak, insanlar bazi meslekleri birakacak; yeni mesleklerde calisabilmek icin ise yeni beceriler edinmek zorunda kalacaklardir.Her ne kadar robotizasyon gibi yeni teknolojilerin yayginlasmasinin bircok boyutu olsa da, yapisal issizlikten gelir dagilimina kadar da muhtemel etkileri olacaktir. Akla gelen ilk soru, yeni teknolojilerin isgucu talebi uzerindeki etkisinin ne olacagidir? Yeni teknolojilerin uretkenligi, dolayisiyla toplam geliri artirdigi dusunuldugunde, akla gelen ikinci soru ise gelirdeki artisin calisanlarin farkli beceri duzeyleri ozellikle de dusuk ve yuksek kalifiye isgucu arasinda nasil dagilacagi olmaktadir.Bu nedenle, bu calismada robotizasyonun yapisal issizlik, isgucu ta...
Political Economy - Development: Domestic Development Strategies eJournal, 2016
The developments in the trade flows during the last few decades show a changing structure of it a... more The developments in the trade flows during the last few decades show a changing structure of it as trade between countries other than developed ones has gaining more importance than ever. Traditionally, raw materials and goods based on labor intensive or low skill, low technology production flow from developing countries, the South to the developed world, the North. The South imports goods based on capital intensive production and high technology from the North. However, because of the recent financial crises and the economic turmoil started in the developed world, the South has to diversify its exports markets. The increased economic activity and dynamic economic environment together with favorable demographics, the South emerged as an additional market for themselves especially in the last years. With the increase in the overall growth of the South and its decreasing dependence on trade to the North, the South-South trade -trade among countries of the South can provide basis for m...
The intensive use of wireless spectrum in communications necessitates complex allocation mechanis... more The intensive use of wireless spectrum in communications necessitates complex allocation mechanisms for spectrum licenses. The Federal Communications Commission (FCC) uses simultaneous ascending auctions, an innovative auction mechanism, to address the complexities created by the frequencies, bandwidths and geographic locations of spectrum licenses. In this study I discuss the objectives of spectrum auctions, and analyze the strategic auction design issues faced by the FCC; including price discovery, exposure, and information disclosure problems. Finally, I analyze how the FCC addresses these issues in light of the simultaneous ascending auction mechanism, and identify areas for improvement in strategic spectrum auction design.
Robotizasyon yolunda hizla ilerleyen ulkeler, etkinlik ve verimliliklerini artirarak diger ulkele... more Robotizasyon yolunda hizla ilerleyen ulkeler, etkinlik ve verimliliklerini artirarak diger ulkelere goreceli ustunluk saglayabilirler. Bu calisma robotizasyonun Islam Kalkinma Bankasi (IKB) uyesi ulkelerin goreceli konumunu nasil etkileyecegi uzerine odaklanmaktadir. Diger bir deyisle IKB uye ulke ekonomilerinin robotizasyonun yarattigi tsunamiye goreceli dayanikliliklari nasildir. Bu calisma bunu yapmak icin, iki farkli veri kumesi kullanarak hesaplayacagim, esnekligi robotizasyona gore siralamamizi saglayacak bir endeks onermektedir. Ilk veri seti IKB uye ulkerinin 1995-2016 arasi ihracatlarini kapsayan COMTRADE veri setidir. Ikinci veri kumesi, ayrintili sektorel seviyelerdeki beseri sermaye yogunlugunu icermektedir.Bu veri Birlesmis Milletler Ticaret Gelistirme Konferansi (UNCTAD) tarafindan hazirlanan Aciklanmis Faktor Yogunluk Endeksleri veritabanindan alinmistir. Bu iki veri setini kullanarak her bir IKB uye ulkenin ihracat sektorlerinin beseri sermaye yogunlugunu gosteren bi...
The intensive use of wireless spectrum in communications necessitates complex allocation mechanis... more The intensive use of wireless spectrum in communications necessitates complex allocation mechanisms for spectrum licenses. The Federal Communications Commission (FCC) uses simultaneous ascending auctions, an innovative auction mechanism, to address the complexities created by the frequencies, bandwidths and geographic locations of spectrum licenses. In this study I discuss the objectives of spectrum auctions, and analyze the strategic auction design issues faced by the FCC; including price discovery, exposure, and information disclosure problems. Finally, I analyze how the FCC addresses these issues in light of the simultaneous ascending auction mechanism, and identify areas for improvement in strategic spectrum auction design.
This paper aims to determine the interaction of commercial energy distribution, including the ins... more This paper aims to determine the interaction of commercial energy distribution, including the installed capacity of hydroelectric energy, hydroelectric energy generation, the installed capacity of thermal energy, thermal energy generation, the installed capacity of nuclear energy, and nuclear energy generation, with economic progress in Pakistan over the 1970–2019 period. Both linear and non-linear autoregressive distributed lag models were used to ascertain the symmetric and asymmetric short- and long-run effects. The findings from the linear autoregressive distributed lag model analysis revealed evidence that increases in the installed capacity of nuclear energy, alongside higher levels of hydroelectric energy generation and thermal energy generation, have positively affected economic growth in the short run, while a greater installed capacity of nuclear energy has positively affected economic growth in the long run. The findings from the non-linear autoregressive distributed lag ...
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