History of Turkey's Economic Crises

Examine the history of Turkey's economic crisis based economy will give clues for a much better economy. For 92 years, history of Turkey Republic has experienced the development stages of democracy and economy. Turkey has completed the journey of economic development as the most advanced economy in the world, although began as an undeveloped country. Turkey has been affected from the global and regional crises and overcame the nine economic crises. The implemented economic crisis policies showed parallelism with the trend of the world economic thoughts and has been shaped around Keynes and Friedman applications. All these details have been described in our study chronologically. With our study, we were trying to portray the Turkish economy's yesterday and today. Thus, we believe that our study will create data for predicting the future of the Turkish economy and the future of the world of economy.

The Impact of Global Liquidity on Developing Countries

Global liquidity has become a focal point of international political discussions in recent years. Increasing international financial asset transactions and expansionary monetary policies, which central banks of developed countries adopt, generate excess liquidity around the world. Today with the increasing capital mobilization excess global liquidity becomes effective on the national economies and monetary policies of developing countries as well. It is seen that increasing risk appetite, especially after 2008 global crisis, causes a flow of global liquidity from developed countries to developing countries. The so-called liquidity may be effective on monetary policy stability, financial stability and growth performances. In other words; the increasing global liquidity may have both positive and negative influences on national economies. In this context; in this study, the effects of global liquidity on national economies is analyzed by using the measures of global liquidity and causality tests.

Past Failure, New Future

This chapter provides a broad analysis of the EU's development strategies from Lisbon to EU 2020. The purpose of the chapter is to make a comparison among development strategies of the EU and to reach the answer of the question; if EU 2020 will be a new future for the EU? For this aim, the author focuses on three questions: what is the connection between the globalization and the EU? Has the EU answered to the challenges of globalization or post Fordist transformation with Lisbon Strategy? Lisbon Strategy which was reformed two times was a failure, what were the reasons of launching the EU 2020 strategy? The first one is related to the economic transformation of the world and economic decline of the EU during the 1980 to 2000s. The second one is related to the EU's structural weakness. The third one is related to the future of the EU.

The Built-In Flexibility of Income and Consumption Taxes in OECD Countries

Compatible with a variety of cyclical fluctuations in fiscal policy, is the automatic stabilising fiscal policies. There is a need to calculate the income elasticity of tax for relieving the effects of cyclical fluctuations. Income elasticity of tax, that is tax revenue have relative change, the ratio of the relative change in national income. This ratio must be bigger than 1 to label a tax system as elastic. If this ratio is bigger than 1, this situation also show the tax system has an automatic stabilizing feature. By that way, without any changes in tax structure, tax revenues increase in the deflation times and decrease in the inflation times. The automatically compensatory movement of tax revenues, generally referred to as “built-in flexibility”, has received increasing attention. The aim of this study is examining the existence of automatic stabilizers in the OECD countries by evaluating the income elasticity of income and consumption taxes and by making cross-countries comparatives.

The Operational Risk Assessments in Manufacturing Industry

Today's companies are facing frequent fluctuation in their social, politics, economics and natural environments, which significantly increased complexity in management function. In such a high risk environment planning, coordinating and control of a company's functions is a very challenging duty for management teams. Regardless of the source this kind risks are dealt with by operational risk management process. The operational risk management has been applied mostly in financial institutions, particularly in the banks until near past. Nevertheless, the companies that are non-financial have to also use operational risk management techniques to continue properly their operations. The purpose of operational risk management can be defined as enhancing hazard identification in the operational environment in order to eliminate risks or reduce them to an acceptable level. In this chapter will be discussed the methods and techniques could be used for the operational risk assessment in manufacturing industry.

The Effects of Two Types of IOS Diffusion on Firms' Performance

This chapter addresses the theoretically neglected question of how the internal and external diffusion of inter-organizational systems (IOS) impacts firms' performance improvement. The proposed model posits that organizational and relational resources affect both internal and external diffusion. In turn, they influence performance improvement. This study collected data from 187 managers in Korean and Chinese firms. It tested its research model by using partial least squares (PLS). According to the findings, two types of IOS diffusion (i.e., internal and external) mediated the relationship between organizational/relational resources and performance improvement in the supply chain context. The study also found that Korean firms were likely to externally diffuse IOS toward their business partners. Chinese firms would tend to internally diffuse IOS by deploying IOS from their partners.

The Role of Financial Innovation and the Derivatives Market in the World and Turkey in the Context of the Global Crisis of 2008

In Derivatives markets, contracts made concerning an asset or a financial instrument between a buyer and a seller entered into today regarding a transaction to be fulfilled at a future point in time. The derivatives markets incorporate forward, swap, futures and options transactions. Banks, the principle actor in financial markets, finds derivatives favorable in developing countries like Turkey in which there is high interest rates and inflation. It is crucial to express the role of the derivatives markets, whereas the uncertainty concerns are perceived enormously. 2008 mortgage crises, the main cause is stated as to sheer of expectations, which started in US and spread out to all developed and developing countries evoke to encounter against risks intensely. The aim of this paper is to study how efficient is the use of the derivatives market instruments in Turkey, a developing country, by the banks and other financial market actors after the 2008 Global Crises.

Restructuring of Turkey Tax Audit Units

As a major source of country's fiscal revenue and a powerful tool for macro economic management, taxation and taxation system has a critical role in any country. Recently Turkish government and Turkis Finance Ministry now formulating new tax audit unit. Although there is an increase in tax revenues, it couldn't have been found that there was a relation between the rise in the number of inspectors and that in tax revenues. There is a success in alleviating the informal sector, regarding employment rates. Regarding tax equity, the study has revealed that, this equity had been perished via deterioration in favor of indirect tax revenues against direct ones; and also it evaluated Turkisy tax audit and its historical development. Finally we will evaluate new tax audit system and it's efficiency and its effect on the realization of desired fiscal and economic effects of the rise in the number of inspections.

The Drivers of ERP Value Among Scandinavian and Iberian SMEs

In the strategic information management field, IT value from for instance Enterprise resource planning (ERP) systems are considered to be paramount in the global economy. Recent research on IT business value claims for more cross-country studies as well as within the space of SMEs. Grounded in the resource-based view theory the authors propose a research model to explain ERP value. To empirically test this model, the study addresses a survey to a wide range of 2000 Scandinavia and Iberia firms and their IT and business executives. The model explains 43,9% and 49,1% of the variation in ERP value for Scandinavian and Iberian firms respectively. Results show that whereas for both regions, analytics and collaboration are important drivers for ERP value, ERP use is not significate for Scandinavian SMEs. This research studying ERP value among SMEs add an international dimension to the IS literature. The current paper also presents theoretical and practical implications, and the study's limitations.

Crowding-Out Effect in the European Union and Candidate Country Turkey

The effects of the government investments and private sector investments on the production, is an important academic argument subject between the Neo-classical school and the Keynesian school. Subject to the financing way of the government sector investments, accruing possibility of private sector investments decreases and crowding-out effect occurs with the behaviours of government sector which restricting the investment area of private sector or changing the investments plans. On the other hand Keynesian economist suggest that the economy is not always in the full employment level. By the hand of Keynesian multiplier mechanism which is increasing the public expenditures and decreasing the taxes, private sector would enhance its investments and crowding-in effect occurs. In this study, we aimed to test the existence of crowding out/in effects of the public sector investments on the private investments in the European Union and a candidate country Turkey with the panel causality tests, over the period 1970-2014.