Person: BOLKOL, HAKKI KUTAY
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BOLKOL
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HAKKI KUTAY
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Publication Open Access Regional income convergence in turkey: an empirical analysis from an endogenous growth perspective(2023-01-01) BOLKOL, HAKKI KUTAY; Bolkol H. K.This study analyzes convergence among regions of Turkey from an endogenous growth perspective. The results show that human capital, which is represented with R&D personnel, has a negative impact on economic growth in the regions based on its percentage in total employment. Moreover, we find that there is an estimated U-shaped relationship, which implies that if the percentage of R&D personnel in total employment increases after a certain level, the effect has a tendency of turning positive; the west region is especially closer to having a positive effect. However, regarding convergence, the relatively high-income west is closer to experiencing the positive effect of R&D personnel. Moreover, due to the relatively low percentage of R&D personnel in the east region, the economic growth of the east region is more negatively affected by R&D personnel. Therefore, using a strategy that is based on increasing the percentage of R&D personnel cannot help the east region to close the differences in income.Publication Metadata only Understanding the causality among monetary aggregates: An Empirical Evidence from Turkey (2008-2020)(2022-09-04) BOLKOL, HAKKI KUTAY; ÖZDEN O., BOLKOL H. K. , DEMİREL B.Publication Metadata only Revisiting Shaikh's Theory of Inflation: An Empirical Analysis from European Countries(2022-07-08) BOLKOL, HAKKI KUTAY; Özden O., Bolkol H. K.Publication Metadata only Revisiting Shaikh's Theory of Inflation: An Empirical Analysis from European Countries(2022-04-17) BOLKOL, HAKKI KUTAY; Özden O., Bolkol H. K.Publication Metadata only The effect of innovation on employment in Turkey(2022-09-04) GÜLERYÜZ, ECE HANDAN; BOLKOL, HAKKI KUTAY; GÜLERYÜZ E. H. , BOLKOL H. K.Publication Metadata only The effect of innovation on employment in Turkey(2023-01-09) BOLKOL, HAKKI KUTAY; GÜLERYÜZ, ECE HANDAN; BOLKOL H. K., GÜLERYÜZ E. H.Publication Open Access The effect ofinnovation on employment in Türkiye(2023-09-01) BOLKOL, HAKKI KUTAY; GÜLERYÜZ, ECE HANDAN; Bolkol H. K., Güleryüz E. H.This study examines the impact of innovation on employment in the Turkish labor market between the years 1991-2021, using monthly patent grants and annual R&D expenditure statistics. As for empirical technique, ARDL (autoregressive distributed lag) approach is used. The reason for choosing this approach is that it separates the long-term and short-term results and gives better results in analysis with a lower number of observations than other methods. The difference between the results of this study from the literature is that the analysis was performed in two different time periods, with two different proxy variables, and they gave the same result as proof of the robustness of the results. When the long-run model and the short-run model are investigated separately, it is found that while the effect of innovation on employment is negative in the short-run, it turns out to be positive in the long-run. Thus, during the period 1991-2021 in the Turkish labor market, while innovation might negatively affect employment levels to some extent in the short run, innovation could exert a more structural and sustainable positive impact on employment levels in the long run. In the short-run, the negative effect of innovation on employment can be seen as a kind of creative destruction, but in the long-run, the positive effect of innovation supports the hypothesis that the increase in the education and training levels of workers along with the profit and productivity provided by innovation increases employment by adapting workers to innovation. The aim of this study is to make an inference with macro data sets but, using micro-level, firm data may provide significant results on the effect of innovation on employment.Publication Open Access Shaikh’s theory of inflation: Empirical evidence from european countries (2001–20)(2023-04-01) BOLKOL, HAKKI KUTAY; Özden O., Bolkol H. K.Anwar Shaikh has proposed the classical theory of inflation in his recent book Capitalism, Competition, Conflict, Crisis. Even though it is a relevant and well-founded heterodox theory, the empirical literature on the subject is scanty. In this article, we empirically evaluate the explanatory capabilities of Shaikh’s theory of inflation for the case of Europe. We constructed GMM and Fixed Effects models for the panel of 23 European countries over the period 2001–20. The overall results demonstrated that Shaikh’s classical theory of inflation generated empirically successful results in explaining the supply dynamics of European inflation, while it produced no statistically significant effect on the demand dynamics of inflation due to the European inflation level, as expected.Publication Metadata only Türkiyeiçin bölgesel insani gelişme endeksi ve yakınsama dinamikleri(2023-11-18) BOZDOĞAN, ALTAN; BOLKOL, HAKKI KUTAY; POLAT, UMURCAN; BOZDOĞAN A., BOLKOL H. K., POLAT U.Publication Open Access The endogenous money hypothesis: empirical evidence from Türkiye (2008-2020)(2024-04-01) BOLKOL, HAKKI KUTAY; Özden O., Bolkol H. K., Demirel B.This paper examines the validity of the endogenous money supply hypothesis in Türkiye from 2008 to 2020. The endogenous money hypothesis underlines the fact that a demand for bank credit leads to the creation of credit and deposit. Deposits are created once credit application is approved by banks. Therefore, the money supply is endogenously determined by bank loans. However, there exist horizontalist, structuralist, and circuitist views, each proposing different causalities between monetary aggregates and the relationship between money and income. In this article, we put forth ten hypotheses to test the validity of the endogenous money hypothesis and three main perspectives over the period 2008-2020 in Türkiye. We aim to discern which of the three main views aligns best with the sample. Our findings provide new evidence on the validity of the endogenous money hypothesis in Türkiye from 2008 to 2020. Besides, the circuit theory of money fits precisely in the short run but partially in the long run. The findings also support the structuralist view partially according to the long-run results.