Scopus İndeksli Yayınlar Koleksiyonu

Permanent URI for this collectionhttps://hdl.handle.net/20.500.12573/395

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Now showing 1 - 7 of 7
  • Article
    Citation - WoS: 86
    Citation - Scopus: 101
    The Analysis of 'Financial Resource Curse' Hypothesis for Developed Countries: Evidence from Asymmetric Effects With Quantile Regression
    (Elsevier Sci Ltd, 2020-10) Dogan, Eyup; Altinoz, Buket; Tzeremes, Panayiotis
    A vast body of literature either proxies natural resource abundance with total rents or focuses on the natural resource curse hypothesis. Furthermore, most empirical studies in the literature use traditional estimation methods. To fill the mentioned gaps, this study investigates the financial resource curse hypothesis by using the linkage between financial development and four natural resource rents (oil rents, coal rents, forest rents and natural gas rents) and applying the panel quantile regression with fixed effects on a dataset for a group of developed countries. This study finds that oil rents, coal rents, forest rents and natural gas rents have a positive effect on financial development, which supports financial resource blessing against financial resource curse for developed countries. In addition, a robust examination is conducted by applying the Canay two-step framework. The outcomes verify the main findings although the incremental effect on financial development of forest rents is greater than the other three proxies. This situation can be described as critical for the sustainability of developments related to natural resource rents in financial development and new set of suggestions can be made for policymakers.
  • Article
    Citation - WoS: 56
    Citation - Scopus: 59
    Revisiting the Nexus of Financialization and Natural Resource Abundance in Resource-Rich Countries: New Empirical Evidence from Nine Indices of Financial Development
    (Elsevier Sci Ltd, 2020-12) Dogan, Eyup; Madaleno, Mara; Altinoz, Buket
    A great number of studies in the literature that estimates the impact of natural resource abundance on financial development proxies financialization with either domestic credit to the private sector or market capitalization of domestic companies. However, these proxies do not fully respond to the complicated structure of financial development. To fill the gaps in the existing literature, nine indices of financial development proposed by IMF are used in the links with natural resource abundance in resource-rich countries for the years 1980-2017. This study reveals reliable and robust empirical results by employing both traditional and second-generation econometric techniques for the dataset. First, the financial resource curse hypothesis is confirmed for the panel of resource-rich economies because natural resources have negative effects on each of the nine indices. Second, the negative impact of the abundance of natural resources on financialization decreases towards high quantile levels. Last, natural resource abundance has a greater negative impact on financial markets than financial institutions when indices of financial markets are compared to indices of financial institutions. Policy implications are further discussed in this study.
  • Article
    Citation - WoS: 127
    Citation - Scopus: 138
    Influence of Admixtures on the Properties of Alkali-Activated Slag Mortars Subjected to Different Curing Conditions
    (Elsevier Sci Ltd, 2013-02) Bilim, Cahit; Karahan, Okan; Atis, Cengiz Duran; Ilkentapar, Serhan
    This paper presents the influence of shrinkage-reducing (SHR) and superplasticizing and set-retarding admixtures (SSRe) on the properties of slag pastes and mortars activated by liquid sodium silicate with different dosage and modulus ratio. Properties in the fresh and hardened state for these binders were investigated by means of measuring some properties including setting time, flowability, flexural strength, compressive strength, carbonation and shrinkage. In this study, fifteen pastes and mortars were prepared. Liquid sodium silicate was used to activate the slag at two sodium concentrations, 4% and 6% by mass of slag. Liquid sodium silicate and sodium hydroxide were blended to obtain 0.75 and 1 modulus ratio of SiO2/Na2O. Results showed that although the higher percentage of sodium in the activator produced a higher strength, workability and setting times rapidly decreased with the higher sodium concentration due to instantaneous reaction and quick hardening of slag activated by liquid sodium silicate. None of the admixtures generally had an impact on the setting times of alkali-activated slag (AAS) pastes. SSRe admixture increased the flow rate of AAS mortars while SHR admixture partially affected the flow values of AAS mortars. SHR admixture exhibited a slight decrease in the carbonation depths of AAS mortars. SSRe and particularly SHR chemical admixtures reduced the shrinkage of AAS mortars. However, the shrinkage values of AAS mortars still were higher than those of ordinary Portland cement (NPC) mortars. Curing conditions had a significant effect on the mechanical behavior in the hardened state of AAS mortars compared to NPC mortars. (C) 2012 Elsevier Ltd. All rights reserved.
  • Article
    Citation - WoS: 49
    Citation - Scopus: 64
    Green Environment in the EU Countries: The Role of Financial Inclusion, Natural Resources and Energy Intensity
    (Elsevier Sci Ltd, 2023-05) Hodzic, Sabina; Sikic, Tanja Fatur; Dogan, Eyup
    The European Union pursues the European Green Deal strategy as well as Sustainable Development Goals, the main target of which is to become a carbon-neutral continent by 2050. Hence, a lot of environmental challenges need to be solved. Possible determinants in mitigating environmental challenges are financial inclusion, natural resources and interaction with a green environment. This concept implies preserving natural resources and a clean environment for future generations. However, there is still no clear evidence in the literature on how natural resources and financial inclusion interact with the green environment in the EU. Therefore, this paper aims at filling this gap. In order to obtain empirical results, the quantile regression econometric technique proposed by Koenker has been applied. The analyzed period was from 2004 to 2019 for EU-26 countries. The results show that higher energy intensity is the main cause of environmental degradation. However, financial inclusion in higher quantiles and natural resources rent lead to a reduction in carbon emissions. Our results also confirm that the EU has succeeded in decoupling economic growth from pollution. The robustness of the results was checked using a Powell's quantile regression, which confirmed the relationship between a green environ-ment and the variables analyzed. Thus, the results suggest that financial inclusion needs to be more integrated into energy and climate policies, especially in the early stages of development. In addition, large-scale green investments are needed in EU countries to further reduce energy intensity and create an effective green environment.
  • Article
    Citation - WoS: 39
    Citation - Scopus: 38
    Analyzing the Nexus of COVID-19 and Natural Resources and Commodities: Evidence From Time-Varying Causality
    (Elsevier Sci Ltd, 2022-08) Dogan, Eyup; Majeed, Muhammad Tariq; Luni, Tania
    Even though a few studies have focused on natural resources and commodity sectors by considering the pandemic, they have only compared their status in pre-COVID19 to post-COVID19. None of the studies has directly examined the causal relationship between the pandemic, and natural resource index and the primary commodity-related sector indices. This study fills the gap of exploring the dynamic association between them by analyzing the causal relationship between the COVID19, and natural resources index and the primary commodity-related sectors (i.e., agribusiness, energy, and metals & mining) by applying a novel time-varying causality test on daily data from January 23, 2020, to November 12, 2021. The empirical results support the presence of time-varying causality from COVID19 to natural resources, agribusiness, energy and metals & mining. The results obtained from the rolling window algorithm support causal linkages between the variables however at several points it fails to capture the dynamics of linkages between the variables which is captured by the recursive window algorithm. The outcome is robust when the pandemic is proxied by either number of cases or deaths. Similarly, the findings obtained from heteroskedastic-robust specification also validate our findings. Several policy implications are further discussed in the study.
  • Article
    Citation - WoS: 177
    Citation - Scopus: 196
    Analyzing the Impacts of Geopolitical Risk and Economic Uncertainty on Natural Resources Rents
    (Elsevier Sci Ltd, 2021-08) Dogan, Eyup; Majeed, Muhammad Tariq; Luni, Tania
    The determinants of natural resources rents have been extensively analyzed in the resources economics and policy literature; however, the role of geopolitical risk and uncertainty in rents remains unexplored. Given that these indicators are rather volatile and thus important to discover for developing countries which own a large portion of natural resources in the world, this study aims to examine the effects of geopolitical risk and economic policy uncertainty on natural resources rents in a group of developing economies by applying the novel panel quantile estimation technique on the panel data over 1985-2018. The empirical results suggest that geopolitical risk has a negative impact on the natural resources rents for all quantiles while economic growth increases natural resources rents across middle-and-high quantiles. In contrast, the influence of economic policy uncertainty on resources rents varies across the quantiles. The uncertainty increases natural resources rents in low quantiles and decreases rents in high quantiles. Thus, quantile regression results reveal heterogeneous impacts of the selected main determinants of natural resources rents. Important policy implications are further discussed in the study.
  • Article
    Citation - WoS: 28
    Citation - Scopus: 34
    A Dynamic Connectedness Analysis Between Rare Earth Prices and Renewable Energy
    (Elsevier Sci Ltd, 2023-08) Madaleno, Mara; Taskin, Dilvin; Dogan, Eyup; Tzeremes, Panayiotis
    Current world environmental challenges put pressure on clean energy produced mostly through renewables. There is an undeniably important role of rare earth minerals in renewable energy technologies. This study aims to infer the relationship between rare earth, clean energy, renewable energy technologies, and carbon emissions, focusing on daily stock price index data and applying the novel quantile time-frequency connectedness model, and the cross-quantilogram dependence approach during 2012-2022. Results show that spillovers among rare earth minerals and renewable energy are dependent on market conditions, time horizons, and analyzed quan-tiles. They also highlight the net receiver role of rare earth, especially in the short term. Findings might help investors understand diversification benefits and support policymakers in developing strategies for lessening import dependence on rare earth metals, as important as they are for renewable technology adoption to ensure green growth.