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Öğe Contribution of Islamic banks on financial and economic stability: An empirical comparison between conventional and Islamic banks(Springer International Publishing, 2021) Kayhan S.; Bayat T.The changing environment of World economy after the global financial crisis in 2008 has led to the modification of monetary policies and financial system regulations. In this regard, banking system has become an important component of economic policies implemented by mainly central banks such as leaning against the wind. The stability of banking indicators has become important for both financial system stability and macroeconomic stability. In this study, we aim to test the performance of banking system in achieving financial stability and effect on macroeconomic indicators after the end of the quantitative easing program of FED in May 2013. Different from existing studies, we investigate them for conventional banks and Islamic banks separately. By doing so, we will be able to compare the effect of Islamic understanding on financial system and economy of the Turkish economy. Possible differences between conventional and Islamic banks might give us some insight into the superiority of the Islamic finance system. © Springer Nature Switzerland AG 2021. All rights reserved.Öğe Is there any asymmetry in causality between economic growth and energy consumption?(Statistical Economic and Social Research and, 2017) Bayat T.; Kayhan S.; Senturk M.The aim of this study is to investigate the causation linkage between economic growth and electricity consumption as an indicator of energy consumption in the Turkish economy between year 1967 and 2014. In this regard, we employ recently developed asymmetric causality analysis developed by Hatemi-J and Roca (2014) which allows testing asymmetric relations. Test results imply that there is a bi-directional causality between economic growth and electricity consumption. Moreover, an increase in electricity consumption does not affect economic growth positively and but a decrease in consumption of electricity induces a decrease in economic growth. On the other hand, economic growth affects electricity consumption in both positive and negative shocks. Results imply an asymmetric causation linkage between economic growth and energy consumption in the Turkish economy. © 2018, Statistical, Economic and Social Research and Training Centre for Islamic Countries. All rights reserved.Öğe Relationship between oil prices and exchange rates: The case of Romania(Academy of Economic Studies, 2014) Sahbaz A.; Adiguzel U.; Bayat T.; Kayhan S.This study investigates to causality between crude oil prices and exchange rates in Romania employing monthly data from the beginning of floating exchange regime for November 2004 to December 2011. The study benefits from the recent advance in the time series econometric analysis and carries out non-linear causality and frequency domain causality tests. According to nonlinear causality test results there is no causality between the variables. Results show that frequency domain causality results slightly differentiate from the nonlinear causality analysis and imply that there is a causality running from real exchange rate to real oil price on the mediun and long run. © 2015, Academy of Economic Studies, All right reserved.Öğe Tourism revenue and economic growth relation in Turkey: Evidence of symmetrical, asymmetrical and the rolling window regressions(Statistical Economic and Social Research and, 2020) Yenişehirlioğlu E.; Taşar İ.; Bayat T.Tourism industry is one of the important determinants of economic growth in the Turkish economy. Tourism industry also comes into prominence as one of the key factors in economic growth due to its foreign currency inflow effect and its multiplier effect being higher compared to other industries. Previous studies show that increase in tourism revenues has a direct positive contribution to economic growth in developed and developing countries. In this study we investigated the 1995-2017 period, tourism income by the method parameter estimates relationship between economic growth in Turkey's economy. Autoregressive distributed lag (ARDL) regression models, and bootstrap rolling window causality parameter tests were used in the empirical analysis. As a result of the empirical analysis, positive contribution to economic growth from the positive component of tourism income in symmetrical regression and asymmetric regression, asymmetric regression was found to be a negative contribution to economic growth from the negative component of tourism income. According to rolling window regression from tourism income to economic growth there is a positive effect between 2010-2015 and negative effect between 2016-2017. © 2020, Statistical Economic and Social Research and. All rights reserved.
