Various large and small earthquakes have occurred in our world from the past to the present, and they will continue to do so. . When the earth's plates move against each other, pressure is exerted on the lithosphere. As a result, the plates in the earth's crust exert forces on themselves and each other as they move. When the force is large enough, the shell is forced to break. In our study, information will be presented about the history of earthquakes in the world and in Türkiye, deaths as a result of deadly destructive disasters, the effects of earthquakes on the country's economy, and the measures to be taken from the policies taken by the state regarding earthquakes. As a limitation of the study, earthquake geology and engineering are out of the scope of the study. Since there is no technology to prevent earthquakes, living with the reality of earthquakes and living in accordance with public and private rules can reduce the risk of destructive and deadly disasters.
{"title":"History, Economic Costs, Measures To Be Taken Of Earthquake Occurrences In Varıous Regions Of The World And In Türkiye","authors":"Kamil Uslu","doi":"10.36880/c15.02836","DOIUrl":"https://doi.org/10.36880/c15.02836","url":null,"abstract":"Various large and small earthquakes have occurred in our world from the past to the present, and they will continue to do so. . When the earth's plates move against each other, pressure is exerted on the lithosphere. As a result, the plates in the earth's crust exert forces on themselves and each other as they move. When the force is large enough, the shell is forced to break. In our study, information will be presented about the history of earthquakes in the world and in Türkiye, deaths as a result of deadly destructive disasters, the effects of earthquakes on the country's economy, and the measures to be taken from the policies taken by the state regarding earthquakes. As a limitation of the study, earthquake geology and engineering are out of the scope of the study. Since there is no technology to prevent earthquakes, living with the reality of earthquakes and living in accordance with public and private rules can reduce the risk of destructive and deadly disasters.","PeriodicalId":486868,"journal":{"name":"Uluslararası Avrasya ekonomileri konferansı","volume":"52 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135737319","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Since football has become an industry and opened to capital markets, the financial performance of football clubs has become as crucial as their sportive performance. This study aims to analyze the financial and sportive performances of football clubs traded in the capital markets in Turkey, rate their success, and investigate the relationship between performances. In the study, the sportive and financial performances of Beşiktaş, Fenerbahçe, Galatasaray, and Trabzonspor clubs were investigated with the MULTIMOOSRAL method, using the data for the period 2017-2018/2021-2022. Weights were taken equally for 5 sportive criteria and 8 financial criteria used in the study. A correlation test was applied to the rankings calculated separately for each season, and the relationship between sportive and financial performance was examined. No significant relationship was found between sportive and financial performances.
{"title":"Sportive and Financial Performance Analysis of Football Clubs by Using MULTIMOOSRAL Method: An Application on Football Clubs Traded in Borsa Istanbul","authors":"Ferhat Kaya","doi":"10.36880/c15.02828","DOIUrl":"https://doi.org/10.36880/c15.02828","url":null,"abstract":"Since football has become an industry and opened to capital markets, the financial performance of football clubs has become as crucial as their sportive performance. This study aims to analyze the financial and sportive performances of football clubs traded in the capital markets in Turkey, rate their success, and investigate the relationship between performances. In the study, the sportive and financial performances of Beşiktaş, Fenerbahçe, Galatasaray, and Trabzonspor clubs were investigated with the MULTIMOOSRAL method, using the data for the period 2017-2018/2021-2022. Weights were taken equally for 5 sportive criteria and 8 financial criteria used in the study. A correlation test was applied to the rankings calculated separately for each season, and the relationship between sportive and financial performance was examined. No significant relationship was found between sportive and financial performances.","PeriodicalId":486868,"journal":{"name":"Uluslararası Avrasya ekonomileri konferansı","volume":"143 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135737333","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article examines the impacts of four major economic and financial crises that significantly affected Turkey’s economic stability and growth: the 1994 crisis, the 1997-98 Asian crisis, the 2001 Turkish crisis, and the 2008 global crisis. The 1994 crisis was triggered by a sudden currency depreciation and resulted in a severe economic contraction. It revealed the vulnerabilities of the Turkish financial system and highlighted the need for structural reforms to improve fiscal discipline and monetary policy. The 1997-98 Asian financial crisis had a ripple effect on Turkey, leading to a sharp decline in exports, capital outflows, and a banking crisis. The Turkish Lira came under intense pressure, and the government had to implement stabilization measures with support from international institutions. The 2001 Turkish economic crisis stemmed from high public debt, banking sector weaknesses, and a loss of investor confidence, which led to a significant depreciation of the Turkish Lira, a banking sector restructuring, and the implementation of economic reforms. The 2008 global financial crisis, originated in the United States. The collapse of Lehman Brothers triggered a sharp decline in global demand, leading to a decline in Turkey's exports. The government implemented stimulus measures to mitigate the impacts of the crisis and prevent a severe recession. Overall, these crises exposed vulnerabilities in Turkey's economy and highlighted the importance of implementing structural reforms, improving financial regulations, and maintaining macroeconomic stability. The Turkish economy has demonstrated resilience in recovering from these crises, but ongoing challenges remain in sustaining long-term economic growth and stability.
{"title":"The 1994, 1997-98, 2001 and 2008 Crises and their Impacts on the Turkish Economy","authors":"Özlen Hiç, Ayşen Hiç Gencer","doi":"10.36880/c15.02739","DOIUrl":"https://doi.org/10.36880/c15.02739","url":null,"abstract":"This article examines the impacts of four major economic and financial crises that significantly affected Turkey’s economic stability and growth: the 1994 crisis, the 1997-98 Asian crisis, the 2001 Turkish crisis, and the 2008 global crisis. The 1994 crisis was triggered by a sudden currency depreciation and resulted in a severe economic contraction. It revealed the vulnerabilities of the Turkish financial system and highlighted the need for structural reforms to improve fiscal discipline and monetary policy. The 1997-98 Asian financial crisis had a ripple effect on Turkey, leading to a sharp decline in exports, capital outflows, and a banking crisis. The Turkish Lira came under intense pressure, and the government had to implement stabilization measures with support from international institutions. The 2001 Turkish economic crisis stemmed from high public debt, banking sector weaknesses, and a loss of investor confidence, which led to a significant depreciation of the Turkish Lira, a banking sector restructuring, and the implementation of economic reforms. The 2008 global financial crisis, originated in the United States. The collapse of Lehman Brothers triggered a sharp decline in global demand, leading to a decline in Turkey's exports. The government implemented stimulus measures to mitigate the impacts of the crisis and prevent a severe recession. Overall, these crises exposed vulnerabilities in Turkey's economy and highlighted the importance of implementing structural reforms, improving financial regulations, and maintaining macroeconomic stability. The Turkish economy has demonstrated resilience in recovering from these crises, but ongoing challenges remain in sustaining long-term economic growth and stability.","PeriodicalId":486868,"journal":{"name":"Uluslararası Avrasya ekonomileri konferansı","volume":"135 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135737132","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Mehmet Tevfik İzgi, Faig Mammadov, Oğuzhan Özçelebi
This article examines the impact of inflation in agricultural prices on food security in the countries surrounding the Black Sea, including Bulgaria, Georgia, Romania, the Russian Federation, Turkey, and Ukraine. Concerns about inflation in agricultural prices and food security have increased globally in recent years, especially due to the COVID-19 pandemic and the Russia-Ukraine conflict, which has resulted in problems with agricultural production and logistical constraints, leading to increased food prices worldwide. This study analyzes the impact of agricultural price inflation on food security in the aforementioned countries. The analysis uses the "producer price index" of agricultural products, such as corn, beans, sugar beets, sunflower seeds, and wheat, published by the United Nations Food and Agriculture Organization (FAO) to measure inflation, and "per capita food supply variability" to assess food security. The study examines the complex effects of agricultural product inflation on food security with the help of panel vector error correction model.
{"title":"The Impact of Agricultural Price Inflation on Food Security: An Analysis of Countries Surrounding the Black Sea","authors":"Mehmet Tevfik İzgi, Faig Mammadov, Oğuzhan Özçelebi","doi":"10.36880/c15.02806","DOIUrl":"https://doi.org/10.36880/c15.02806","url":null,"abstract":"This article examines the impact of inflation in agricultural prices on food security in the countries surrounding the Black Sea, including Bulgaria, Georgia, Romania, the Russian Federation, Turkey, and Ukraine. Concerns about inflation in agricultural prices and food security have increased globally in recent years, especially due to the COVID-19 pandemic and the Russia-Ukraine conflict, which has resulted in problems with agricultural production and logistical constraints, leading to increased food prices worldwide. This study analyzes the impact of agricultural price inflation on food security in the aforementioned countries. The analysis uses the \"producer price index\" of agricultural products, such as corn, beans, sugar beets, sunflower seeds, and wheat, published by the United Nations Food and Agriculture Organization (FAO) to measure inflation, and \"per capita food supply variability\" to assess food security. The study examines the complex effects of agricultural product inflation on food security with the help of panel vector error correction model.","PeriodicalId":486868,"journal":{"name":"Uluslararası Avrasya ekonomileri konferansı","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135737137","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper proposes a panel Granger causality test for heterogeneous panels with cross-sectional dependence. We define a panel VAR model with unobserved common factors and apply the PANIC procedure to obtain the de-factored data. We then estimate the lag augmented (LA)-VAR models for each cross-section and define the panel statistic based on the meta-analytic approach that combines the p-values of the individual Wald statistics. The Monte Carlo simulations indicate that the test shows good size and power; and appears suitable for the panels where cross-sections may have different unit root or co-integration properties. We finally re-investigate causal interrelationships between export and economic growth in OECD countries by comparing the results from our testing procedure with those from the existing methods. The key finding is that accounting for cross-sectional dependency with factor modelling approach plays a crucial role to determine the direction of causality for country-specific results. A fresh information is that export and economic growth do not cause each other in most of EU countries.
{"title":"Testing for Granger Causality in Heterogeneous Panels with Cross-sectional Dependence: Causal Interrelationships between Export and Growth","authors":"Şaban Nazlıoğlu, Çağın Karul","doi":"10.36880/c15.02849","DOIUrl":"https://doi.org/10.36880/c15.02849","url":null,"abstract":"This paper proposes a panel Granger causality test for heterogeneous panels with cross-sectional dependence. We define a panel VAR model with unobserved common factors and apply the PANIC procedure to obtain the de-factored data. We then estimate the lag augmented (LA)-VAR models for each cross-section and define the panel statistic based on the meta-analytic approach that combines the p-values of the individual Wald statistics. The Monte Carlo simulations indicate that the test shows good size and power; and appears suitable for the panels where cross-sections may have different unit root or co-integration properties. We finally re-investigate causal interrelationships between export and economic growth in OECD countries by comparing the results from our testing procedure with those from the existing methods. The key finding is that accounting for cross-sectional dependency with factor modelling approach plays a crucial role to determine the direction of causality for country-specific results. A fresh information is that export and economic growth do not cause each other in most of EU countries.","PeriodicalId":486868,"journal":{"name":"Uluslararası Avrasya ekonomileri konferansı","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135737139","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Changes in the population structure shape the sociocultural system and the countries’ economies. Studies show that population growth and demographic changes significantly impact the economic development of nations. However, labor productivity is also an important factor affecting economic growth. Labor productivity refers to the increase in productivity resulting from the efforts and skills of employees and their interactions with other employees. At this point, generational transitions in the labor market stand out within the scope of labor productivity. Considering the technological change in the past three decades, the competencies and skills of the labor market have changed significantly with the emergence of generational differences among individuals involved in the workforce. It is also emphasized by many studies that there are various skill differences, such as technology aptitude, between generations born in the technological development process (digital natives) and generations born before the said process (digital immigrants). In this context, the study aims to investigate the effect of generational changes in the labor market of Eurasian countries on their economic growth. Using the labor force participation rate and economic growth data for 1989 and 2021, the effect of the transition between generations on economic growth was analyzed using unbalanced panel data analysis. According to the findings on economic development, while a statistically significant and positive effect of the ages within the scope of 2006-2012 and 2013-2021 was determined, no significant impact was found for the generations within the range of 1996-2005.
{"title":"The Impact of Generational Differences on Economic Growth: Examples from Eurasian Countries","authors":"Gözde Bozkurt, Volkan Öngel","doi":"10.36880/c15.02863","DOIUrl":"https://doi.org/10.36880/c15.02863","url":null,"abstract":"Changes in the population structure shape the sociocultural system and the countries’ economies. Studies show that population growth and demographic changes significantly impact the economic development of nations. However, labor productivity is also an important factor affecting economic growth. Labor productivity refers to the increase in productivity resulting from the efforts and skills of employees and their interactions with other employees. At this point, generational transitions in the labor market stand out within the scope of labor productivity. Considering the technological change in the past three decades, the competencies and skills of the labor market have changed significantly with the emergence of generational differences among individuals involved in the workforce. It is also emphasized by many studies that there are various skill differences, such as technology aptitude, between generations born in the technological development process (digital natives) and generations born before the said process (digital immigrants). In this context, the study aims to investigate the effect of generational changes in the labor market of Eurasian countries on their economic growth. Using the labor force participation rate and economic growth data for 1989 and 2021, the effect of the transition between generations on economic growth was analyzed using unbalanced panel data analysis. According to the findings on economic development, while a statistically significant and positive effect of the ages within the scope of 2006-2012 and 2013-2021 was determined, no significant impact was found for the generations within the range of 1996-2005.","PeriodicalId":486868,"journal":{"name":"Uluslararası Avrasya ekonomileri konferansı","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135737145","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The UN Sustainable Development Goals establish the need for the development of micro, small and medium-sized enterprises. In world practice, it has been proven that there is a direct relationship between the digitalization of a business and its profitability. According to the McKinsey Global Institute, data-driven business models significantly increase productivity in digitalized industries. Unfortunately, in terms of business digitalization, the Russian Federation and other EAEU countries still lag behind technologically leading countries. To move more dynamically along the path of digital transformation, entrepreneurs need institutional support. This conclusion was drawn based on the results of the research “Institutional regulation of the digital transformation of small and medium-sized businesses” under an internal grant at the Siberian Institute of Management, a branch of the RANEPA under the President of the Russian Federation in 2022. The study uses a multidisciplinary approach. A survey was conducted among representatives of small businesses in the Novosibirsk Region, the Chelyabinsk Region and the Republic of Kabardino-Balkaria. Expert interviews were received from heads of business associations, representatives of the scientific community, and government authorities. On the basis of Russian and foreign best practices of institutional support for digital transformation, the program "Accelerator of Digital Transformation of Small Business" was proposed, which should be implemented at the level of regions and municipalities. The introduction of the developed recommendations into the practice of institutional regulation in the EAEU countries will contribute to the digital transformation of small businesses. Ultimately, this will improve countries' entrepreneurial ecosystems.
{"title":"Digital Transformation of Small and Medium Enterprises: Institutional Analysis","authors":"Tatyana Gurunyan","doi":"10.36880/c15.02856","DOIUrl":"https://doi.org/10.36880/c15.02856","url":null,"abstract":"The UN Sustainable Development Goals establish the need for the development of micro, small and medium-sized enterprises. In world practice, it has been proven that there is a direct relationship between the digitalization of a business and its profitability. According to the McKinsey Global Institute, data-driven business models significantly increase productivity in digitalized industries. Unfortunately, in terms of business digitalization, the Russian Federation and other EAEU countries still lag behind technologically leading countries. To move more dynamically along the path of digital transformation, entrepreneurs need institutional support. This conclusion was drawn based on the results of the research “Institutional regulation of the digital transformation of small and medium-sized businesses” under an internal grant at the Siberian Institute of Management, a branch of the RANEPA under the President of the Russian Federation in 2022. The study uses a multidisciplinary approach. A survey was conducted among representatives of small businesses in the Novosibirsk Region, the Chelyabinsk Region and the Republic of Kabardino-Balkaria. Expert interviews were received from heads of business associations, representatives of the scientific community, and government authorities. On the basis of Russian and foreign best practices of institutional support for digital transformation, the program \"Accelerator of Digital Transformation of Small Business\" was proposed, which should be implemented at the level of regions and municipalities. The introduction of the developed recommendations into the practice of institutional regulation in the EAEU countries will contribute to the digital transformation of small businesses. Ultimately, this will improve countries' entrepreneurial ecosystems.","PeriodicalId":486868,"journal":{"name":"Uluslararası Avrasya ekonomileri konferansı","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135737323","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Modern logistics requires companies which implement ease of access, quick information processing, and security conditions in their enterprises. The foundation of this transformation lies in transportation processes that prioritize customer demands for reduced transit times, product availability, and efficient delivery. Modern systems encompass transportation exchanges, as well as tools like TMS (Transportation Management Systems), ERP (Enterprise Resource Planning), and Truck & Tracing systems. These systems enable logistics professionals to navigate the entire logistics process chain. In the present day, companies are adopting a project management approach to develop innovative solutions for their operations. According to the Project Management Institute (PMI) market research, project management practitioners widely embrace agile principles as an effective project management technique. By utilizing TMS, ERP, warehouse control systems, and other automated planning, organizing, and control tools for logistics activities, businesses can drive operational improvements. In the future, businesses will establish global networks that leverage cyber-physical systems encompassing machinery, warehouse systems, and production facilities. This research aims to explore how companies are implementing new agile approaches in their logistics and supply chain services, as well as the impact of logistics 4.0 and logistics 5.0 on businesses and customer service. In this research, more samples from the industries are examined and a comprehensive literature review regarding logistics and supply chain are presented.
{"title":"Agile Approaches of Businesses in Logistics and Supply Chain","authors":"Kübra Göksu Köstepen Özbek","doi":"10.36880/c15.02819","DOIUrl":"https://doi.org/10.36880/c15.02819","url":null,"abstract":"Modern logistics requires companies which implement ease of access, quick information processing, and security conditions in their enterprises. The foundation of this transformation lies in transportation processes that prioritize customer demands for reduced transit times, product availability, and efficient delivery. Modern systems encompass transportation exchanges, as well as tools like TMS (Transportation Management Systems), ERP (Enterprise Resource Planning), and Truck & Tracing systems. These systems enable logistics professionals to navigate the entire logistics process chain. In the present day, companies are adopting a project management approach to develop innovative solutions for their operations. According to the Project Management Institute (PMI) market research, project management practitioners widely embrace agile principles as an effective project management technique. By utilizing TMS, ERP, warehouse control systems, and other automated planning, organizing, and control tools for logistics activities, businesses can drive operational improvements. In the future, businesses will establish global networks that leverage cyber-physical systems encompassing machinery, warehouse systems, and production facilities. This research aims to explore how companies are implementing new agile approaches in their logistics and supply chain services, as well as the impact of logistics 4.0 and logistics 5.0 on businesses and customer service. In this research, more samples from the industries are examined and a comprehensive literature review regarding logistics and supply chain are presented.","PeriodicalId":486868,"journal":{"name":"Uluslararası Avrasya ekonomileri konferansı","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135737325","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Today’s financial markets are an important part of market economies and play an important role in the economic growth of countries. Especially the global crisis of 2008 allowed to understand the importance of the stability in the financial system on the real economy. Besides, there is no consensus in the literature for the definition of financial stability. It’s not easy to measure and define the financial stability due to the dependence and interaction between financial system components as well as real economy. Both national and international financial institutions and countries started to redesign their financial systems, increase their resilience against the crisis, review their surveillance and control mechanisms and create their own financial stability indicators. Central banks publish financial stability reports where they try to determine financial stability risks and to evaluate the degree of financial fragility or financial stress. The Financial Soundness Indicators (FSIs) of the International Monetary Funds are considered as one of the most used indicators. In this paper, we aim to evaluate the financial stability in the Eurasian Economic Union member countries by an aggregate financial instability index via core FSI’s. These indicators are calculated for deposit takers and consist of twelve indicators that are divided in five main groups which are capital adequacy, asset quality, profitability, liquidity, and market risk sensitivity. The analysis covers the period of 2008-2022 and we then discuss how different crisis such as 2008 financial crisis and the Russia-Ukraine war that emerged during the analysis period affect financial stability in Eurasian countries.
{"title":"Financial Stability Index in Eurasian Economies","authors":"Zehra Yeşim Gürbüz","doi":"10.36880/c15.02794","DOIUrl":"https://doi.org/10.36880/c15.02794","url":null,"abstract":"Today’s financial markets are an important part of market economies and play an important role in the economic growth of countries. Especially the global crisis of 2008 allowed to understand the importance of the stability in the financial system on the real economy. Besides, there is no consensus in the literature for the definition of financial stability. It’s not easy to measure and define the financial stability due to the dependence and interaction between financial system components as well as real economy. Both national and international financial institutions and countries started to redesign their financial systems, increase their resilience against the crisis, review their surveillance and control mechanisms and create their own financial stability indicators. Central banks publish financial stability reports where they try to determine financial stability risks and to evaluate the degree of financial fragility or financial stress. The Financial Soundness Indicators (FSIs) of the International Monetary Funds are considered as one of the most used indicators. In this paper, we aim to evaluate the financial stability in the Eurasian Economic Union member countries by an aggregate financial instability index via core FSI’s. These indicators are calculated for deposit takers and consist of twelve indicators that are divided in five main groups which are capital adequacy, asset quality, profitability, liquidity, and market risk sensitivity. The analysis covers the period of 2008-2022 and we then discuss how different crisis such as 2008 financial crisis and the Russia-Ukraine war that emerged during the analysis period affect financial stability in Eurasian countries.","PeriodicalId":486868,"journal":{"name":"Uluslararası Avrasya ekonomileri konferansı","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135737337","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Tourism sector is one of the sectors most affected by the COVID-19 Pandemic, is also among the sectors that have a high positive impact on national income. Understanding the financial performances of companies in the tourism sector, which is considered as the driving force of economic growth in developed and developing countries, after the COVID-19 pandemic period is important for policy makers, investors, companies in the sector, and managers. This study aims at evaluating financial performance of companies in the tourism sector in the post COVID-19 Pandemic period with Gray Relational Analysis. Grey Relational Analysis conducted with liquidity, financial leverage and profitability ratios. In the post-pandemic period, it has been determined that the tourism companies are in good financial position according to their liquidity, financial leverage and profitability ratios. In the financial performance evaluation, the order of importance among the ratios was realized as liquidity ratios, financial leverage ratios and profitability ratios. The order of importance in the financial performance ranking of the sector before the pandemic and during the pandemic period is financial leverage ratios, profitability ratios and liquidity ratios. It is concluded that the liquidity position has more importance for all companies after the pandemic. In the post-pandemic period, the liquidity ratios of companies are above the optimal value. Leverage and profitability ratios are close to pre-pandemic and pandemic.
{"title":"Financial Performance Evaluation of Tourism Sector in the Post COVID-19 Pandemic Period","authors":"Nehir Balcı Yıldız, Yeşim Koba","doi":"10.36880/c15.02848","DOIUrl":"https://doi.org/10.36880/c15.02848","url":null,"abstract":"Tourism sector is one of the sectors most affected by the COVID-19 Pandemic, is also among the sectors that have a high positive impact on national income. Understanding the financial performances of companies in the tourism sector, which is considered as the driving force of economic growth in developed and developing countries, after the COVID-19 pandemic period is important for policy makers, investors, companies in the sector, and managers. This study aims at evaluating financial performance of companies in the tourism sector in the post COVID-19 Pandemic period with Gray Relational Analysis. Grey Relational Analysis conducted with liquidity, financial leverage and profitability ratios. In the post-pandemic period, it has been determined that the tourism companies are in good financial position according to their liquidity, financial leverage and profitability ratios. In the financial performance evaluation, the order of importance among the ratios was realized as liquidity ratios, financial leverage ratios and profitability ratios. The order of importance in the financial performance ranking of the sector before the pandemic and during the pandemic period is financial leverage ratios, profitability ratios and liquidity ratios. It is concluded that the liquidity position has more importance for all companies after the pandemic. In the post-pandemic period, the liquidity ratios of companies are above the optimal value. Leverage and profitability ratios are close to pre-pandemic and pandemic.","PeriodicalId":486868,"journal":{"name":"Uluslararası Avrasya ekonomileri konferansı","volume":"94 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135737339","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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