Person: ÇAĞLAYAN AKAY, EBRU
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ÇAĞLAYAN AKAY
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Publication Open Access Relationship between tourism and economic growth a granger causality panel data approach(2012-09-01) ÇAĞLAYAN AKAY, EBRU; ŞAK, NAZAN; Çağlayan Akay E., Şak N., Kamal K.This paper investigated the causal relationship between tourism revenue and gross domestic product (GDP) using the panel data of 135 countries for the period 1995–2008. For this purpose, Panel Granger causality analysis was applied to 11 groups of countries. This classification was created as America (30 countries), Asia (34 countries), Europe (37 countries), East Asia (13 countries), South Asia (6 countries), Central Asia (5 countries), Latin America & Caribbean (28 countries), Oceania (7 countries), Middle East & North Africa (11 countries), Sub Saharan Africa (24 countries) and the world (135 countries). Results indicated bidirectional causality in Europe between tourism revenue (TR) and gross domestic product (GDP). Findings showed that there is a unidirectional causality in America, Latin America & Caribbean and World from GDP to tourism revenue. While in case of East Asia, South Asia and Oceania the reverse direction of causality was found from tourism revenue to GDP. No causal relationship was found in Asia, Middle East and North Africa, Central Asia and Sub Saharan Africa.Publication Open Access Identifying tourism and economic growth nexus the hurlin venet approach(2013-04-01) ÇAĞLAYAN AKAY, EBRU; ŞAK, NAZAN; Çağlayan Akay E., Şak N., Kamal K.This paper seeks to identify causality between tourism and economic growth within Hurlin-Venet approach using the panel data of 135 countries for the period 1995–2008. Countries are classified by income levels. The unidirectional causality from economic growth to tourism revenue is found only in case of high income countries group.Publication Open Access Identifying the systemically important banks of Turkey with the CoVaR method(ELSEVIER SCI LTD, 2020-09) ÇAĞLAYAN AKAY, EBRU; Civan, Zehra; Simsek, Gulhayat Golbasi; Akay, Ebru CaglayanThe purpose of this paper is to measure the systemic risk contributions of Turkish banks and to identify the systemically important banks of Turkey during the period from 2005 to 2016. We apply the conditional value-at-risk (CoVaR) method proposed by Adrian and Brunnermeier (2009) using quantile regression. The study includes thirteen major banks of Turkey, including both public and private banks, out of a total of 52 banks. The banks are ranked in terms of their systemic risk contribution to the Turkish financial system based on their asset returns, macroeconomic variables and individual bank variables. The study reveals that Akbank, Garanti, Yapi Kredi and Isbank have the highest systemic risk contribution to the financial system when adding macroeconomic variables to the model. This ranking is changed to Yapi Kredi, Garanti, TEB, Sekerbank and Akbank when taking into account bank-specific variables. One surprising result is that risk in isolation and the spillover risks of public banks are smaller than in large private banks. Furthermore, the marginal systemic risk contributions of public banks are smaller than those of private banks. In conclusion, authorities improve the regulatory framework according to the context of CoVaR in addition to monitor the idiosyncratic risks of banks.Publication Open Access The causality between electricity consumption and gross domestic product evidence from 144 countries(2012-04-01) ÇAĞLAYAN AKAY, EBRU; ŞAK, NAZAN; Çağlayan Akay E., Şak N.Publication Open Access Bibliometric analysis of the published literature on machine learning in economics and econometrics(2022-12-01) ÇAĞLAYAN AKAY, EBRU; YILMAZ SOYDAN, NACİYE TUBA; ÇAĞLAYAN AKAY E., YILMAZ SOYDAN N. T., KOCARIK GACAR B.An extensive literature providing information on published materials in machine learning exists. However, machine learning is still a rather new concept in the fields of economics and econometrics. This study aims to identify different properties of published documents about machine learning in economics and econometrics and therefore to draw a detailed picture of recent publications from bibliometric analysis perspectives. For the aim of the study, the data are collected from the publications indexed by Web of Science and Scopus databases from the period 1991 to 2020. Inthe study, the data have been illustrated by VOSviewer for science mapping. The analysis of variance has also been used to identify the links between the number of citations of articles and years. The findings obtained provides information about the studies on machine learning in the relevant field conducted in the past, as well as providing an opportunity to gain knowledge about the researched area by shedding light on what the future research areas would be. There is no doubt that it attracts attention has increased significantly on machine learning in the field of economics and econometrics and academic publications on machine learning in the relevant field have increased over the last decade.Publication Open Access OECD ülkeleri için satınalma gücü paritesinin geçerliliğinin analizi panel eşbütünleme yaklaşımı(2009-06-01) ÇAĞLAYAN AKAY, EBRU; Çağlayan Akay E., Şak N.Bu çalışma OECD ülkeleri için satınalma gücü paritesinin geçerli olup olmadığını incelemektedir. Çalışmada, OECD ülkeleri incelenirken, yüksek ve düşük gelir grubunda olan ülkeler şeklinde sınıflandırılmıştır. Burada panel veriler kullanılarak panel birim kök ve panel eşbütünleme analizleri yapılmıştır. Analiz sonucunda elde edilen bulgular, satınalma gücü paritesi yaklaşımının OECD ülkeleri için desteklenmediğini göstermiştir.