Sedat Aybar | Bahcesehir University (original) (raw)

Papers by Sedat Aybar

Advances in international management, Jun 24, 2015

Emerging market MNEs often seek to advance their domestic competitive advantage through a springb... more Emerging market MNEs often seek to advance their domestic competitive advantage through a springboard FDI strategy, which typically takes the form of an acquisition into a developed market (DM) for knowledge resources. We argue that if this strategy is effective and beneficial, then an emerging market parent firm would seek for higher ownership and control in its later domestic acquisitions. Such benefits would be higher if there are richer knowledge resources in a DM subsidiary or in a DM local network. Such benefits would also increase over time because of the accumulation of new knowledge back home. Using a sample of 1,303 complete domestic acquisitions made by 713 Turkish firms over the period of 1987-2013, including 196 deals involving a springboard FDI strategy, we have found highly supportive empirical evidence. It is found that holding a DM subsidiary by a Turkish parent firm is associated with 33.047% higher ownership in a later domestic acquisition. Both research and practical implications are discussed.

Florya chronicles of political economy, Oct 1, 2019

This study aimed to investigate the effect of foreign direct investment and financial development... more This study aimed to investigate the effect of foreign direct investment and financial development on the economic growth in the East African Community (EAC) using panel cross-sectional time-series data collected separately from 5 countries during the period from 1996 to 2015. The role of foreign direct investment (FDI) and financial development (FD) on the growth of an economy has been a topic of study for many researchers in several countries. A positive and negative impact of FDI and financial development has been found depending on countries or regions. A crosssectional time-series regression analysis was used to measure the degree to which foreign direct investment, financial development, and economic growth are related to each other. The study investigated furthermore the relationship between trade openness, inflation and economic growth in the EAC. Using the Johansen cointegration model, we found between variables a long-run relationship. The study also found that all the variables are nonstationary at the level (0) form but have a unit root and are integrated at first difference I(1) by using the Augmented Dickey-Fuller unit root test for examining the stationarity of variables. The results of regression reveal that FDI has a negative effect on economic growth, it is found also that an increase or decrease in FDI does not generate economic growth in the countries of the EAC. Findings expose that economic growth is highly determined by domestic credit to the private sector, that the improvement of financial development can transform and generate economic growth in the countries of the EAC. The thesis finally revealed a positive and

a Although we speak of the 'top 19' here, information was not available on all likely candidates ... more a Although we speak of the 'top 19' here, information was not available on all likely candidates for the top places, among other things because not all companies responded to our survey. The MNEs on this ranking may thus not be the largest outward investors from Turkey but they are certainly among the largest. b The exchange rate used is the IMF rate of December 31, 2009: US$ 1 = Turkish Lira 1.5057. c Conglomerates (also known as holdings) are large family-owned companies similar to chaebol in South Korea, keiretsu in Japan or grupos in Chile. The main operating sectors of the selected conglomerates are reported in table 1a below.

Florya chronicles of political economy, 2015

The presentation I will make consists of the preparation process of the Higher Education Report i... more The presentation I will make consists of the preparation process of the Higher Education Report in Libya published by UNIMED and what it expresses. First of all, I would like to talk about the method of the report; Both qualitative and quantitative methods were used. The data obtained were revealed by swot analysis. As a sample, 18 Libyan Universities were used. Four main considerations were taken into account when choosing the sample; the size of the institution at the national level, its geographical distribution, the financial balance between beneficiaries and non-beneficiaries of the European Union (EU) financial support programs, Universities that were in contact with UNIMED before. Interviews were conducted focusing on issues such as the security of the country, the national education system, legal reforms, the international cooperation performance of the University and its role in society. Finally, a draft of the study was prepared and sent to Universities for their approval, addition / removal or interpretation (I have to admit that we had a hard time getting approval from Arab sources). We obtained the Swot Analysis (strong, weak, opportunity, threat) output to create a strategic plan for the system. According to this analysis, we have seen that EU project calls are a strong element in education sector capacity building; leaders changing at optimum level, quality of accreditation processes and financial autonomy are the weak elements; the acceptance that universities can make positive changes in society is an opportunity element; and finally, political instability along with security problems are a threat to capacity building. I emphasize once again; Libyan Universities are there for any kind of cooperation you can think of, despite all the problems that exist. They are waiting. The strong influence of EU programs in the region cannot be denied. Changing leaders in financial autonomy and management have weakened the development of the education sector and disrupted the process.

Transnational Corporations Review, Jan 2, 2016

The phase of globalization has helped many developing economies in framing the path towards achie... more The phase of globalization has helped many developing economies in framing the path towards achieving a higher level of development and economic growth. One of the major instruments used in framing this path of economic growth is foreign direct investment. The economy of Turkey had also witnessed several economic crises and hence the liberalization reforms were introduced in early 2000, which have provided the Turkish economy a strong framework to expand in terms of foreign direct investment. In this context, the present study examines the impact of internationalization and foreign direct investment of Turkish companies. The researcher has collected the data for inward and outward FDI flows during the period 1990-2015. The researcher analyzed the trend of the FDI flows and explored the different reasons behind the rise in the amount of outward FDI. Further, the study explores the convergence of EU integration and how the internalization of Turkish companies changed the investment patterns among the multinational enterprises in Turkey.

Florya chronicles of political economy, 2015

The study set to assess the female entrepreneurship in Mali focusing on factors that affect the w... more The study set to assess the female entrepreneurship in Mali focusing on factors that affect the women Entrepreneurship in Bamako Mali. The study objectives were to establish the effect of skills-based training on female entrepreneurship in Bamako Mali, to determine the effect of financial system influence on female entrepreneurship, to assess the effect of market information influence on female entrepreneurship and finally to examine the effect of technological advancement on female entrepreneurship in Bamako Mali. The study employed a descriptive research design based on regression analysis; the study used questionnaires attained from 334 respondents who were women in Bamako holding businesses. Skills based training, financial system, market information and technology advancement have a significant effect on women enterprises. The study concludes that skills-based training has a significant effect on female entrepreneurship in Bamako Mali indicating that the presence of female entrepreneurs' skills if improved is an icon for female businesses support. Secondly, the study concludes that the financial system influences female entrepreneurship. The study concludes that developing a financial system for the females in Mali can generate effective business growth for the females in Mali. Thirdly the study concludes that there is less access to market information, most existing networks are male dominated and difficult for women to access. Finally, the study conclude that the technology advancement was not significant in women businesses. The study recommend for government and non-government organizations should start focusing on cluster development in entrepreneurship based on the natural resource availability.

Historical Materialism, 2001

ABSTRACT In February 2001, Turkey experienced her third and deepest economic crisis in fifteen mo... more ABSTRACT In February 2001, Turkey experienced her third and deepest economic crisis in fifteen months. The importance of the event far exceeds its Turkish confines for the following two reasons. First, the crisis is closely linked to changes in class relations in Turkey due to internationalisation of production and finance. Second, more generally, the crisis is a consequence of the absence of a world monetary system that could sustain the aforesaid internationalisation of production and finance. Integration of the Turkish capitalist class into the international economy under present conditions has generated enormous economic turbulence within the country, which first surfaced in the foreign exchange market. Crisis subsequently spread to finance, trade, and industry, with profound social and political implications. In this respect, the Turkish crisis is similar to other recent crises in the world economy, including South East Asia in 1997-8, Russia in 1998, and Brazil in 1998-9.

DergiPark (Istanbul University), Apr 10, 2018

Transnational Corporations Review, Jul 3, 2018

The relationship between China the United States (US) has always been complex to understand. Sino... more The relationship between China the United States (US) has always been complex to understand. Sino-US relations have evolved from an 'ice age' towards a constructive manner resulting in a composite mix of intensifying diplomacy, growing international rivalry and increasingly intertwisted economies. A lot has changed since the first diplomatic relation and formal ties between China and United States were established in 1979. Not only within the two superpowers, but also around them and especially the modes how these two superpowers influence the world and regions around them. Some of countries may be more interested in developments only in one or another of the two superpowers. According to the 2016 World Trade Organisation (WTO) Trade Profiles, the United States is the top trading partner for 25 countries. Meanwhile, China is emerging in this area and is currently the leading trade partner for 30 different countries, being the second in the world behind the European Union with over 80 countries. Yet, even if neither China nor the United States is not among their leading trade partners, there is hardly any country in the world that could not attach importance to their bilateral relations. As the most important relation in the world, it concerns the prosperity of the two countries and that of the rest of the world. Especially now when it seems that the United States is stepping back from playing a leadership role in support of a more open global market and there are profound concerns across the world about the negative impacts of globalisation on income inequality.

Transnational Corporations Review, Apr 2, 2016

Abstract Current OFDI climate imposes important challenges to the global investment chains. In th... more Abstract Current OFDI climate imposes important challenges to the global investment chains. In the wake of 2008 global economic crisis, the nature of FDI flows globally might nurture conflict of interest between developed and developing countries. Areas of contention appears to concentrate around the issues of sustainability, labor standards and protection of environment. Security concerns should also be added onto the list. There also exists a debate on the viability of bilateral agreements in an increasingly multi-polar world. In the absence of standard contracts to resolve conflicts of interests between nations, corporations and individuals, FDI atmosphere has become more problematic in creating equitable and sustainable world, in reducing poverty, in providing better income distribution and in creating worthy employment. Balancing out environmental regulations and protecting the interest of private capital also imposes important challenge. This paper focuses henceforth, on the responses developed for these global challenges within the Turkish context. Turkey’s close proximity to more developed European markets via customs union agreement with the EU, its cultural and historical ties to Central Asia, Caucasus and Balkans, and increasing presence within the African continent as a donor country in conjunction with its OFDI, renders it an interesting case study. This paper aims to investigate this rather understudied area by using a political economy framework.

RePEc: Research Papers in Economics, Mar 1, 2009

pour l'action en faveur des pauvres Centre international L'urgente nécessité d'une réforme du sec... more pour l'action en faveur des pauvres Centre international L'urgente nécessité d'une réforme du secteur financier pour mobiliser l'épargne en Afrique subsaharienne

RePEc: Research Papers in Economics, Mar 1, 2009

En el Policy Research Brief No. 6 del CIP, Pollin, epstein y Heintz ofrecen propuestas alternativ... more En el Policy Research Brief No. 6 del CIP, Pollin, epstein y Heintz ofrecen propuestas alternativas para la política monetaria y la reforma del sector financiero de África Subsahariana, centrándose en temas tales como apuntar a tasas de interés a corto plazo, instituir controles moderados de cambios, proponer programas de garantía de préstamos a gran escala y reactivar bancos estatales de desarrollo (ver también el Policy research Brief no. 4 del CIP directamente relacionado). este one Pager pone de relieve la importancia de la reforma del sector financiero para la movilización de recursos internos. el motivo: la movilización de ahorros por parte de los sistemas financieros liberalizados de África Subsahariana ha sido sumamente insatisfactoria, limitando las inversiones de manera rigurosa y haciendo improbable el crecimiento más rápido y sostenible.

RePEc: Research Papers in Economics, Sep 1, 2010

No. 6, Pollin, Epstein e Heintz proporcionam propostas alternativas de política monetária e refor... more No. 6, Pollin, Epstein e Heintz proporcionam propostas alternativas de política monetária e reforma do setor financeiro, na África Subsaariana, enfocando questões como a das metas de taxas de juro de curto prazo, instituição de controles moderados de câmbio, proposição de programas de grande escala para garantia de empréstimos e reanimação dos bancos de desenvolvimento estatais (vide também o IPC Policy Research Brief Nº 4 diretamente relacionado).

This paper critically evaluates recent attempts to regulate international banking sector. It is a... more This paper critically evaluates recent attempts to regulate international banking sector. It is argued that the attempts to draw up a regulatory framework for the banking sector have been dominated by intra-capitalist rivalries. Hence, Basel 2 is explored from the prism of conflicting interests of capitalists which has become more rampant at the age of financialization and globalization. Here its viability in determining capital adequacy ratio is also questioned. It is argued that Basel 2 and risk management techniques dressed in mathematical equations is highly ideological. The paper traces evidence for this claim at the roots of current global economic meltdown. It is argued in this paper that because of the essence of risk in a capitalist economy, regulatory arrangements within the framework of recent liberalization, globalization and financialization, particularly those claiming to develop international standards to measure risk are destined to fail.

Taylor & Francis eBooks, Feb 16, 2010

Social Science Research Network, 2015

Emerging market MNEs often seek to advance their domestic competitive advantage through a springb... more Emerging market MNEs often seek to advance their domestic competitive advantage through a springboard FDI strategy, which typically takes the form of an acquisition into a developed market (DM) for knowledge resources. We argue that if this strategy is effective and beneficial, then an emerging market parent firm would seek for higher ownership and control in its later domestic acquisitions. Such benefits would be higher if there are richer knowledge resources in a DM subsidiary or in a DM local network. Such benefits would also increase over time because of the accumulation of new knowledge back home. Using a sample of 1,303 complete domestic acquisitions made by 713 Turkish firms over the period of 1987-2013, including 196 deals involving a springboard FDI strategy, we have found highly supportive empirical evidence. It is found that holding a DM subsidiary by a Turkish parent firm is associated with 33.047% higher ownership in a later domestic acquisition. Both research and practical implications are discussed.

DergiPark (Istanbul University), Oct 1, 2018

The present paper aims at investigating the status of the economic development in Cameroon and fe... more The present paper aims at investigating the status of the economic development in Cameroon and female inclusion problems with the use of annual data on Gross Domestic Product (GDP) and assets of household survey between 2007-2011 and 2012-2016 from National Institute of Statistic of Cameroon and, the different education statistical data available on UNESCO and World Development Indicator of 2016. Our investigation particularly aims to uncover the level of women inclusion in Cameroon while putting a special focus on education. The paper finds that due to a global amelioration in female inclusion effort, Cameroon has also improved its condition. It can be concluded that growth in Cameroon has not been as inclusive because as growth advanced equity did not. Hence, despite positive developments, women inclusion still faces many problems in Cameroon which can be confirmed by their very low representation in important function of the country. In addition, the number of girls having a chance for proper education is low in Cameroon. Furthermore, we move forward in education and we observe that lesser percentages of females are presented in each category of education: pre-primary, primary and secondary.

Florya chronicles of political economy, Jun 1, 2016

Turkey's "new" interest in the African continent has reached a level that merits academic investi... more Turkey's "new" interest in the African continent has reached a level that merits academic investigation. There have been few if any robust study analyzing the social and economic dimensions of Turkey-Africa relations by employing technical methods. This paper aims to fill this gap by using a well established model within the discipline of international economics known as the "gravity model". This model determines Turkey's gravitational dynamics between specific African countries by examining pull and push factors. At the outset, however, a note of caution in relation to the use of this technical method is in order. When conducting technical research along this line, there are a number of potential problems to keep in mind, one of which relates to the reliablity and availability of data. This problem is probably the main reason for the scarce number of technical analyses in this area.

Bu yazi uluslararasi finansal kuruluslardan kaynaklanan kuresel krizin sadece iktisadi degil, ayn... more Bu yazi uluslararasi finansal kuruluslardan kaynaklanan kuresel krizin sadece iktisadi degil, ayni zamanda toplumsal, teknolojik ve siyasal yonleri oldugu ileri surulmektedir. Icinde yasanilan kuresel iktisadi daralma etkisini ozellikle mali yapilarini sarsarak gostermis; kapitalizmin lokomotifi olan teknoloji agilikli sektorleri vurmustur. Bunun yaninda; genel talebin dusmesine yol acarak buyuk capta bir issizlik yaratmistir. Bunun sonucunda ABD ile G-20 ulkeleri yeni mali ve reel sektor politikalariyla ilgili yeni modeller uzerinde tartismaktadirlar

Advances in international management, Jun 24, 2015

Emerging market MNEs often seek to advance their domestic competitive advantage through a springb... more Emerging market MNEs often seek to advance their domestic competitive advantage through a springboard FDI strategy, which typically takes the form of an acquisition into a developed market (DM) for knowledge resources. We argue that if this strategy is effective and beneficial, then an emerging market parent firm would seek for higher ownership and control in its later domestic acquisitions. Such benefits would be higher if there are richer knowledge resources in a DM subsidiary or in a DM local network. Such benefits would also increase over time because of the accumulation of new knowledge back home. Using a sample of 1,303 complete domestic acquisitions made by 713 Turkish firms over the period of 1987-2013, including 196 deals involving a springboard FDI strategy, we have found highly supportive empirical evidence. It is found that holding a DM subsidiary by a Turkish parent firm is associated with 33.047% higher ownership in a later domestic acquisition. Both research and practical implications are discussed.

Florya chronicles of political economy, Oct 1, 2019

This study aimed to investigate the effect of foreign direct investment and financial development... more This study aimed to investigate the effect of foreign direct investment and financial development on the economic growth in the East African Community (EAC) using panel cross-sectional time-series data collected separately from 5 countries during the period from 1996 to 2015. The role of foreign direct investment (FDI) and financial development (FD) on the growth of an economy has been a topic of study for many researchers in several countries. A positive and negative impact of FDI and financial development has been found depending on countries or regions. A crosssectional time-series regression analysis was used to measure the degree to which foreign direct investment, financial development, and economic growth are related to each other. The study investigated furthermore the relationship between trade openness, inflation and economic growth in the EAC. Using the Johansen cointegration model, we found between variables a long-run relationship. The study also found that all the variables are nonstationary at the level (0) form but have a unit root and are integrated at first difference I(1) by using the Augmented Dickey-Fuller unit root test for examining the stationarity of variables. The results of regression reveal that FDI has a negative effect on economic growth, it is found also that an increase or decrease in FDI does not generate economic growth in the countries of the EAC. Findings expose that economic growth is highly determined by domestic credit to the private sector, that the improvement of financial development can transform and generate economic growth in the countries of the EAC. The thesis finally revealed a positive and

a Although we speak of the 'top 19' here, information was not available on all likely candidates ... more a Although we speak of the 'top 19' here, information was not available on all likely candidates for the top places, among other things because not all companies responded to our survey. The MNEs on this ranking may thus not be the largest outward investors from Turkey but they are certainly among the largest. b The exchange rate used is the IMF rate of December 31, 2009: US$ 1 = Turkish Lira 1.5057. c Conglomerates (also known as holdings) are large family-owned companies similar to chaebol in South Korea, keiretsu in Japan or grupos in Chile. The main operating sectors of the selected conglomerates are reported in table 1a below.

Florya chronicles of political economy, 2015

The presentation I will make consists of the preparation process of the Higher Education Report i... more The presentation I will make consists of the preparation process of the Higher Education Report in Libya published by UNIMED and what it expresses. First of all, I would like to talk about the method of the report; Both qualitative and quantitative methods were used. The data obtained were revealed by swot analysis. As a sample, 18 Libyan Universities were used. Four main considerations were taken into account when choosing the sample; the size of the institution at the national level, its geographical distribution, the financial balance between beneficiaries and non-beneficiaries of the European Union (EU) financial support programs, Universities that were in contact with UNIMED before. Interviews were conducted focusing on issues such as the security of the country, the national education system, legal reforms, the international cooperation performance of the University and its role in society. Finally, a draft of the study was prepared and sent to Universities for their approval, addition / removal or interpretation (I have to admit that we had a hard time getting approval from Arab sources). We obtained the Swot Analysis (strong, weak, opportunity, threat) output to create a strategic plan for the system. According to this analysis, we have seen that EU project calls are a strong element in education sector capacity building; leaders changing at optimum level, quality of accreditation processes and financial autonomy are the weak elements; the acceptance that universities can make positive changes in society is an opportunity element; and finally, political instability along with security problems are a threat to capacity building. I emphasize once again; Libyan Universities are there for any kind of cooperation you can think of, despite all the problems that exist. They are waiting. The strong influence of EU programs in the region cannot be denied. Changing leaders in financial autonomy and management have weakened the development of the education sector and disrupted the process.

Transnational Corporations Review, Jan 2, 2016

The phase of globalization has helped many developing economies in framing the path towards achie... more The phase of globalization has helped many developing economies in framing the path towards achieving a higher level of development and economic growth. One of the major instruments used in framing this path of economic growth is foreign direct investment. The economy of Turkey had also witnessed several economic crises and hence the liberalization reforms were introduced in early 2000, which have provided the Turkish economy a strong framework to expand in terms of foreign direct investment. In this context, the present study examines the impact of internationalization and foreign direct investment of Turkish companies. The researcher has collected the data for inward and outward FDI flows during the period 1990-2015. The researcher analyzed the trend of the FDI flows and explored the different reasons behind the rise in the amount of outward FDI. Further, the study explores the convergence of EU integration and how the internalization of Turkish companies changed the investment patterns among the multinational enterprises in Turkey.

Florya chronicles of political economy, 2015

The study set to assess the female entrepreneurship in Mali focusing on factors that affect the w... more The study set to assess the female entrepreneurship in Mali focusing on factors that affect the women Entrepreneurship in Bamako Mali. The study objectives were to establish the effect of skills-based training on female entrepreneurship in Bamako Mali, to determine the effect of financial system influence on female entrepreneurship, to assess the effect of market information influence on female entrepreneurship and finally to examine the effect of technological advancement on female entrepreneurship in Bamako Mali. The study employed a descriptive research design based on regression analysis; the study used questionnaires attained from 334 respondents who were women in Bamako holding businesses. Skills based training, financial system, market information and technology advancement have a significant effect on women enterprises. The study concludes that skills-based training has a significant effect on female entrepreneurship in Bamako Mali indicating that the presence of female entrepreneurs' skills if improved is an icon for female businesses support. Secondly, the study concludes that the financial system influences female entrepreneurship. The study concludes that developing a financial system for the females in Mali can generate effective business growth for the females in Mali. Thirdly the study concludes that there is less access to market information, most existing networks are male dominated and difficult for women to access. Finally, the study conclude that the technology advancement was not significant in women businesses. The study recommend for government and non-government organizations should start focusing on cluster development in entrepreneurship based on the natural resource availability.

Historical Materialism, 2001

ABSTRACT In February 2001, Turkey experienced her third and deepest economic crisis in fifteen mo... more ABSTRACT In February 2001, Turkey experienced her third and deepest economic crisis in fifteen months. The importance of the event far exceeds its Turkish confines for the following two reasons. First, the crisis is closely linked to changes in class relations in Turkey due to internationalisation of production and finance. Second, more generally, the crisis is a consequence of the absence of a world monetary system that could sustain the aforesaid internationalisation of production and finance. Integration of the Turkish capitalist class into the international economy under present conditions has generated enormous economic turbulence within the country, which first surfaced in the foreign exchange market. Crisis subsequently spread to finance, trade, and industry, with profound social and political implications. In this respect, the Turkish crisis is similar to other recent crises in the world economy, including South East Asia in 1997-8, Russia in 1998, and Brazil in 1998-9.

DergiPark (Istanbul University), Apr 10, 2018

Transnational Corporations Review, Jul 3, 2018

The relationship between China the United States (US) has always been complex to understand. Sino... more The relationship between China the United States (US) has always been complex to understand. Sino-US relations have evolved from an 'ice age' towards a constructive manner resulting in a composite mix of intensifying diplomacy, growing international rivalry and increasingly intertwisted economies. A lot has changed since the first diplomatic relation and formal ties between China and United States were established in 1979. Not only within the two superpowers, but also around them and especially the modes how these two superpowers influence the world and regions around them. Some of countries may be more interested in developments only in one or another of the two superpowers. According to the 2016 World Trade Organisation (WTO) Trade Profiles, the United States is the top trading partner for 25 countries. Meanwhile, China is emerging in this area and is currently the leading trade partner for 30 different countries, being the second in the world behind the European Union with over 80 countries. Yet, even if neither China nor the United States is not among their leading trade partners, there is hardly any country in the world that could not attach importance to their bilateral relations. As the most important relation in the world, it concerns the prosperity of the two countries and that of the rest of the world. Especially now when it seems that the United States is stepping back from playing a leadership role in support of a more open global market and there are profound concerns across the world about the negative impacts of globalisation on income inequality.

Transnational Corporations Review, Apr 2, 2016

Abstract Current OFDI climate imposes important challenges to the global investment chains. In th... more Abstract Current OFDI climate imposes important challenges to the global investment chains. In the wake of 2008 global economic crisis, the nature of FDI flows globally might nurture conflict of interest between developed and developing countries. Areas of contention appears to concentrate around the issues of sustainability, labor standards and protection of environment. Security concerns should also be added onto the list. There also exists a debate on the viability of bilateral agreements in an increasingly multi-polar world. In the absence of standard contracts to resolve conflicts of interests between nations, corporations and individuals, FDI atmosphere has become more problematic in creating equitable and sustainable world, in reducing poverty, in providing better income distribution and in creating worthy employment. Balancing out environmental regulations and protecting the interest of private capital also imposes important challenge. This paper focuses henceforth, on the responses developed for these global challenges within the Turkish context. Turkey’s close proximity to more developed European markets via customs union agreement with the EU, its cultural and historical ties to Central Asia, Caucasus and Balkans, and increasing presence within the African continent as a donor country in conjunction with its OFDI, renders it an interesting case study. This paper aims to investigate this rather understudied area by using a political economy framework.

RePEc: Research Papers in Economics, Mar 1, 2009

pour l'action en faveur des pauvres Centre international L'urgente nécessité d'une réforme du sec... more pour l'action en faveur des pauvres Centre international L'urgente nécessité d'une réforme du secteur financier pour mobiliser l'épargne en Afrique subsaharienne

RePEc: Research Papers in Economics, Mar 1, 2009

En el Policy Research Brief No. 6 del CIP, Pollin, epstein y Heintz ofrecen propuestas alternativ... more En el Policy Research Brief No. 6 del CIP, Pollin, epstein y Heintz ofrecen propuestas alternativas para la política monetaria y la reforma del sector financiero de África Subsahariana, centrándose en temas tales como apuntar a tasas de interés a corto plazo, instituir controles moderados de cambios, proponer programas de garantía de préstamos a gran escala y reactivar bancos estatales de desarrollo (ver también el Policy research Brief no. 4 del CIP directamente relacionado). este one Pager pone de relieve la importancia de la reforma del sector financiero para la movilización de recursos internos. el motivo: la movilización de ahorros por parte de los sistemas financieros liberalizados de África Subsahariana ha sido sumamente insatisfactoria, limitando las inversiones de manera rigurosa y haciendo improbable el crecimiento más rápido y sostenible.

RePEc: Research Papers in Economics, Sep 1, 2010

No. 6, Pollin, Epstein e Heintz proporcionam propostas alternativas de política monetária e refor... more No. 6, Pollin, Epstein e Heintz proporcionam propostas alternativas de política monetária e reforma do setor financeiro, na África Subsaariana, enfocando questões como a das metas de taxas de juro de curto prazo, instituição de controles moderados de câmbio, proposição de programas de grande escala para garantia de empréstimos e reanimação dos bancos de desenvolvimento estatais (vide também o IPC Policy Research Brief Nº 4 diretamente relacionado).

This paper critically evaluates recent attempts to regulate international banking sector. It is a... more This paper critically evaluates recent attempts to regulate international banking sector. It is argued that the attempts to draw up a regulatory framework for the banking sector have been dominated by intra-capitalist rivalries. Hence, Basel 2 is explored from the prism of conflicting interests of capitalists which has become more rampant at the age of financialization and globalization. Here its viability in determining capital adequacy ratio is also questioned. It is argued that Basel 2 and risk management techniques dressed in mathematical equations is highly ideological. The paper traces evidence for this claim at the roots of current global economic meltdown. It is argued in this paper that because of the essence of risk in a capitalist economy, regulatory arrangements within the framework of recent liberalization, globalization and financialization, particularly those claiming to develop international standards to measure risk are destined to fail.

Taylor & Francis eBooks, Feb 16, 2010

Social Science Research Network, 2015

Emerging market MNEs often seek to advance their domestic competitive advantage through a springb... more Emerging market MNEs often seek to advance their domestic competitive advantage through a springboard FDI strategy, which typically takes the form of an acquisition into a developed market (DM) for knowledge resources. We argue that if this strategy is effective and beneficial, then an emerging market parent firm would seek for higher ownership and control in its later domestic acquisitions. Such benefits would be higher if there are richer knowledge resources in a DM subsidiary or in a DM local network. Such benefits would also increase over time because of the accumulation of new knowledge back home. Using a sample of 1,303 complete domestic acquisitions made by 713 Turkish firms over the period of 1987-2013, including 196 deals involving a springboard FDI strategy, we have found highly supportive empirical evidence. It is found that holding a DM subsidiary by a Turkish parent firm is associated with 33.047% higher ownership in a later domestic acquisition. Both research and practical implications are discussed.

DergiPark (Istanbul University), Oct 1, 2018

The present paper aims at investigating the status of the economic development in Cameroon and fe... more The present paper aims at investigating the status of the economic development in Cameroon and female inclusion problems with the use of annual data on Gross Domestic Product (GDP) and assets of household survey between 2007-2011 and 2012-2016 from National Institute of Statistic of Cameroon and, the different education statistical data available on UNESCO and World Development Indicator of 2016. Our investigation particularly aims to uncover the level of women inclusion in Cameroon while putting a special focus on education. The paper finds that due to a global amelioration in female inclusion effort, Cameroon has also improved its condition. It can be concluded that growth in Cameroon has not been as inclusive because as growth advanced equity did not. Hence, despite positive developments, women inclusion still faces many problems in Cameroon which can be confirmed by their very low representation in important function of the country. In addition, the number of girls having a chance for proper education is low in Cameroon. Furthermore, we move forward in education and we observe that lesser percentages of females are presented in each category of education: pre-primary, primary and secondary.

Florya chronicles of political economy, Jun 1, 2016

Turkey's "new" interest in the African continent has reached a level that merits academic investi... more Turkey's "new" interest in the African continent has reached a level that merits academic investigation. There have been few if any robust study analyzing the social and economic dimensions of Turkey-Africa relations by employing technical methods. This paper aims to fill this gap by using a well established model within the discipline of international economics known as the "gravity model". This model determines Turkey's gravitational dynamics between specific African countries by examining pull and push factors. At the outset, however, a note of caution in relation to the use of this technical method is in order. When conducting technical research along this line, there are a number of potential problems to keep in mind, one of which relates to the reliablity and availability of data. This problem is probably the main reason for the scarce number of technical analyses in this area.

Bu yazi uluslararasi finansal kuruluslardan kaynaklanan kuresel krizin sadece iktisadi degil, ayn... more Bu yazi uluslararasi finansal kuruluslardan kaynaklanan kuresel krizin sadece iktisadi degil, ayni zamanda toplumsal, teknolojik ve siyasal yonleri oldugu ileri surulmektedir. Icinde yasanilan kuresel iktisadi daralma etkisini ozellikle mali yapilarini sarsarak gostermis; kapitalizmin lokomotifi olan teknoloji agilikli sektorleri vurmustur. Bunun yaninda; genel talebin dusmesine yol acarak buyuk capta bir issizlik yaratmistir. Bunun sonucunda ABD ile G-20 ulkeleri yeni mali ve reel sektor politikalariyla ilgili yeni modeller uzerinde tartismaktadirlar