https://turkishstudies.net/economy?mod=sayi_detay&sayi_id=1088 Turkish Studies-Economics,Finance,Politics en 2026-07-16 <p style="text-align: justify; margin: 6.0pt 0cm .0001pt 0cm;">Ankara Bilim &Uuml;niversitesi</p> <p style="text-align: justify; margin: 6.0pt 0cm .0001pt 0cm;">Maltepe Kamp&uuml;s&uuml;</p> <p style="text-align: justify; margin: 6.0pt 0cm .0001pt 0cm;">Maltepe Mahallesi Şehit G&ouml;nen&ccedil; Caddesi No: 5 &Ccedil;ankaya, ANKARA</p> <p style="margin: 6.0pt 0cm .0001pt 0cm;"><strong>Web: </strong><a href="https://ankarabilim.edu.tr">https://ankarabilim.edu.tr</a></p> <p style="text-align: justify; margin: 6.0pt 0cm .0001pt 0cm;"><strong>Telefon:</strong> <a href="tel:4442228">444 22 28</a></p> <p style="text-align: justify; margin: 6.0pt 0cm .0001pt 0cm;"><strong>E-mail:</strong>&nbsp;<a href="mailto:info@ankarabilim.edu.tr">info@ankarabilim.edu.tr</a></p> https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=42926 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=42926 Hayri ABAR The aim of this study is to determine whether successful predictions for cryptocurrencies such as Bitcoin can be obtained with different methods. The reason why Bitcoin prices (Bitcoin / $) are used in the study is that this cryptocurrency is still the most widely used cryptocurrency in the market, and the idea that it will successfully represent the overall state of the cryptocurrencies market. Financial market series may contain fluctuations for some reason, such as speculations. It also usually includes nonlinear changes. Such features lead to failures in obtaining forecasts for financial time series. In this study, with the GARCH model, one of the classicial time series models and LS - SVM method, a machine learning method, predictions of the Bitcoin price series were obtained, and model performances were compared. In the study, between January 01, 2017 and February 29, 2020, 1155 daily Bitcoin price series ( ) was used. In both models, the Bitcoin price series and the volatilities of this series were used, and external variables were not included in the models. For both models, forecasts were obtained for periods of 1 month, 2 months and 3 months. For GARCH and LS - SVM models, out of sample successful forecasting rates according to MAPE ratios were 98,0347% - 95,3423% for 1 month; 97,9544% - 96,1307% for 2 months and 98,1272% - 91,4874% for 3 months, respectively. The GARCH model has provided more successful results for all three periods. The finding of the study is that the GARCH model can be used to obtain forecasts for the crypto price series. 2026-07-16 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=42735 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=42735 Ümran Münire KAHRAMANSuna AKTEN ÇÜRÜK , Mine IŞIK As in all world, in Turkey banks have quite an active position within the national economy. Banking sector providing transfer of capital accumulation to real investments, in 2005, with the arrangement, included deposit banks and development and investment banks as well as participation banks. Thus, two types of banks with different philosophy and principles had the opportunity to operate subject to the same regulations in the same competitive environment. Profitability is a matter that needs to be carefully examined in order to sustain the life of the enterprises. On the other hand, banking is a sector that is worth analyzing with the profitability numbers announced even during the global crisis. The aim of this study is to determine the factors affecting the profitability of banks. In this study, the data of 3 participation banks and 16 conventional banks operating in Turkish Banking Sector and having regular data between 2006-2018, was used. Descriptive and inferential statistical methods were used in the study. Independent internal variables, bank type, asset size, credit risk, liquidity risk, operational efficiency, capital structure; independent external variables, inflation and GDP growth rate; dependent variables were taken as return on equity and return on assets. The number of horizontal section units of the panel data is and the number of time units obtained for each horizontal section unit is . The data set consists of a total of 988 observations. Stata package program was used for data analysis. The study contributes to the literature by distinguishing it from other studies conducted in terms of analysis period, variables and sample. First, the effect of banking type on profitability was examined. Hypothesis tests were tested by creating a panel data regression where return on assets is a dependent variable. Similarly, the regression result was obtained for the return on equity variable. As a result, no significant impact was detected in models that tested the effect of bank type (conventional / Islamic) on return on equity and return on assets. In the second stage, In the second stage; in order to examine whether the variables differ according to bank type, t test was performed. As a result, it was found that operational efficiency, total assets representing the bank size, liquidity risk and financial risk were significantly lower in Islamic banks than in conventional banks. 2026-07-16 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=41603 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=41603 Murat ARSLANDEREAhmet Alper SAYIN Foreign trade is regarded as an indispensable dynamic for today's economies. In this context, attention is paid to the quality, cost and security elements when foreign trade operations are carried out in an increasing global competition environment. All factors that affect these elements directly and indirectly are being tried to be carefully executed and developed. In this context, one of the important elements of foreign trade is bonded warehouse. While operations are performing in bonded-warehouses, there is a necessity to give attention to security efforts for avoiding the occurrence of illegal transactions, illegal goods, theft etc.. At this point, the position of the camera systems must be carefully assessed. In recent years, the implementation of camera systems in bonded warehouses, within certain standards, has been made compulsory with the changes in the regulations in Turkey. In our study, in order to explain the effects of these camera system applications to warehouses and foreign trade, in-depth interview and content analysis techniques were used as qualitative research techniques. In-depth interviews were made with Mersin Customs Warehouse Association, and also content analysis was carried out in the official regulations of the state on the subject and findings were shared. It has been observed that this new camera system application provides great support to the security element in the bonded warehouse sector. Although the system will have a disadvantage to the bonded warehouses, it will contribute positively to the foreign trade sector in terms of warehouse transactions in a safer environment. Although there are researches on the establishment and functionality of warehouses, lack of work on issues related to safety constitutes the originality of our research and will contribute to the literature in this direction. 2026-07-16 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=43196 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=43196 Yıldız ATMACAVedat YILMAZ After 1980s, a process of change in public administration started. This change played a leading role in public administration reforms that took place after the 2000s. The name of this wind of change, which has made a sound in many countries, has been accepted as the New Public Management (NPM) approach worldwide. NPM is a management approach that is in opposition to the bureaucratic paradigm of traditional (classical) management with the slogan of “active and result oriented” management. In public administration, it has realized a long-term change process, not temporary in terms of structural and functional aspects. It adopts a state model that envisages shrinkage, with it bears the claim that a democratic and participatory administration, together with public, private sector and non-governmental organizations, will bring solutions to the economic and social problems of the period. NPM, which was not accepted by many researchers of the period with its supporters, has been updated in the perspective of changing era and technological developments, and has developed the basic features that are exclusive to a bureaucratic state in terms of productivity and entrepreneurship. In this study, one of the trend management approaches of public administration, NPM, is mentioned. Since it has been accepted, the achievements of NPM, which has been criticized at the point of its validity, to the public administration are evaluated. In line with the gains, it is debatable what kind of future awaits NPM. The method used in the study is a comprehensive literature review. As a result of the study, it was determined that NPM has entered a reform process in the face of changing information and communication based developments and made very important contributions to public administration. 2026-07-16 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=39787 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=39787 Abdullah TOPCUOĞLUİbrahim Orkun ORAL All countries need to increase their production and income levels to improve their socio-economic progress and increase their development rates. One of the most essential tools used by countries to increase their production and national income is foreign trade. Turkey has been trying to improve its foreign trade with other countries in recent years. Among the countries in which Turkey has developed foreign trade in this process are Mexico, Indonesia, and South Korea, which are called MIST countries. The total foreign trade volume of Turkey with MIST countries in 2018 is 7,464 billion dollars. In this study, foreign trade relations with Turkey and MIST countries, key industries and import dependency analysis were determined with the Input-Output model. Within the scope of the analysis, the Leontief inverse matrix, key industries, and import inverse matrix were calculated for all countries with WIOD data for 2014. According to the results of the analysis, it was determined that the production of computer, electronic and optical products is the key sector in all MIST countries. Besides, the production of basic metals in Turkey and South Korea, and the manufacturing of chemicals and chemical products industry in Turkey, Mexico, and South Korea again stand out as key industries. When the backward linkage effects of the industries in the MIST countries are examined, it is seen that the backward linkage effect of these countries, in general, is high in industrial and manufacturing industries. In this context, it has been determined that MIST countries have an externally dependent structure in terms of industrial and manufacturing industries and this situation weakens the inter-industrial structural correlation especially in Mexico, Indonesia, and Turkey. 2026-07-16 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=43194 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=43194 Tuba Derya BASKAN The aim of this study is to examine the Independent Audit Standard 700- Conceptualization and Reporting Standard in the Independent Audit Reports in a conceptual framework and to try to identify a number of factors affecting the opinions in the audit reports. Nowadays, public enterprises should present their financial reports within the framework of certain standards and with a certain reasonable confidence. For this reasonable trust, this opinions are given by independent audit institution reports are important. Independent audit standards-700 (BDS-700) The standard for forming opinions and reporting on financial reports was examined in the conceptual framework, and the steps to be taken when reporting the opinions of the auditors were specified. In order for the independent audit reports to be effective, the requirements were specified and the opinion types of the audit reports were examined. The types of positive, negative, conditional and unavoidable expressions in the independent audit reports were explained and the importance of these opinion types was discussed. For this purpose, the audit reports of the companies subject to the BIST 50 index between 2011-2018 were examined and variables that could affect the opinions in these reports were determined. According to the results reached, the fact that the audit firms are among the four big companies, the debt structures of the companies, their growth rates and net working capitals affect the audit opinions. 2026-07-16 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=42916 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=42916 Hüseyin ÇETİN The main objective of that research is to find out the influence of ICT patents on OECD banks’ risk indicators such as cost/income, return on assets, and return on equity between the period of 2005-2013. Other objectives are to research current applications of robotic technologies and smart glass usage in the banking sector; and to discuss probable applications of robotic applications and smart glass usage in banking operations. Panel quantile regression analysis was implemented to unearth the impact of ICT patents on cost/income ratios of OECD countries’ banks. In addition, Bayesian impulse response analysis was used to find the one standard deviation positive shock of OECD countries’ banks ICT patents on the risk indicators of OECD countries’ banks. Johansen panel cointegration analysis was implemented for the long term relationship between cost/income and ICT patents. Since no data were available for robotic applications and smart glasses usage in the banking sector, empirical analyses for robotic applications and smart glasses were not done. According to the panel quantile regression analysis result, ICT patents had a significant negative influence on OECD countries' banks cost/income ratio between 2005-2013. Bayesian impulse response analysis was implemented for return on assets, return on equity, cost/income ratio. The positive impact was found for return on asset, return on equity, and the negative effect was found for the cost/income ratio. ICT patents positive innovation impact has more influence on return on equity with respect to return on assets. Johansen panel cointegration test unearthed that there is a long-term relationship between ICT and cost/income ratios. It can be indicated that ICT patent production is useful for diminishing banks' costs. Moreover, robotic communication in banks can enhance the banking sector cost efficiency. Robotic communication with other banks and inside the bank can have an important influence on the development of the banking sector. Besides, it is possible that banks employees can use smart glasses. Smart glasses can be used for fraud detection, such as diagnosis of fake checks (Deloitte,2016). Currently, smart glass technology is immature; when the smart glass technology becomes mature, bank employees can use that technology. 2026-07-16 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=41589 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=41589 Kenan GÖÇER The study reconsiders the distribution of capital or accumulation by Yunus Emre, not from the religious, mystical, philosophical, literary and historical point of view as it has been done so far, but from the perspective of political economy. Islamic sufism has always been more influential than the madrasa in transforming and affecting the society throughout history generally in muslim societies, particularly in Turkey. In some geographies and times, it has succeeded to be the most tolerant institution or movement having varied appearances against the other. The most prominent movements of mysticism in influencing Anatolia during the Seljuk and Ottoman periods were sufism, traveling dervishness like qalanderiyya and the melami mystics. These Sufi movements can be compared in some ways to schools such as Epicurism, Cynicism, and Stoicism in ancient philosophy. Yunus Emre as a Melami is distinguished from sufis and traveling dervishes in many ways and marked as most known unifying character of social culture of Turks. The most fundamental element of his distinction in terms of political economy is trying to level or distribute accumulation in every field although he gives importance to work, profession and labor. In this sense, Yunus's attempt is compared to the isonomic principle, which Kojin Karatani claims existing in Ionia of ancient times, which means that the absence of a ruler and ruled and the possibility of freedom and equality at the same time. The isonomic distribution is carried out in five ways within the framework of self, property, meaning or logics, prestige or reputation and linguistic distance. Moreover, Miskinlik that is one of the basic concepts of Yunus is subjected to a new reading outside of common perception. 2026-07-16 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=41767 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=41767 Bayram KIRMIZIGÜLCihan PALANCI People's lifestyles and cultures have changed since their existence on the world. These changes have survived through different phases with the effects of various factors. Each phase of these changes will be able to be evaluated separately under conditions specific to the period. However, until the industrial revolution, the stages of life styles and culture were spreading to very long periods. Traditions, interpersonal relations, social norms, methods of doing business and even the functioning systems of the states have been going on for a long time. With the industrial revolution, the intense industrialization that emerged in the next period, the productivity increases in the field of management along with the scientific approaches, the mass production with the fordist production system, and finally these globalizations, together with the globalization, have started to show accelerations that cannot be compared with the previous periods. Therefore, the spread of industrialization, the strengthening of enterprises and the development of management techniques with more effective results have become prominent factors in the change of people, societies and the world. In a sense, changes in the field of business and management have also paved the way for social changes. In this study, a detailed literature review has been made in specific to fordist system on how businesses and their management styles play a role in social changes in the world. Social changes that come forward as a result of these evaluations; dehumanization, mind-time-space standardization, the imposition of certain life patterns, the creation of new consumption habits, and the dissemination of mass culture. 2026-07-16 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=42025 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=42025 Hüseyin KUTBAY In the study, the effect of tax attractiveness, which includes many incentive items, on Foreign Direct Investment (FDI) inflows, was analyzed by panel data analysis for developed and developing country groups using 2007-2018 period data. Since the tax attractiveness index has been published annually since 2007, this year has been preferred as the starting year. In addition, trade openness, economic freedom index and increase in per capita national income data, which may have an impact on FDI inflows, are also included in the model. Since the model established for developed and developing countries has a horizontal cross-section dependency, the existence of the unit root in the variables was made with Pesaran (2007). Afterwards, it was decided to apply the fixed effect model in developed countries and the random effect model in developing countries with Hausman test. Since the variance, autocorrelation and horizontal cross-section dependency were found in the models, the analysis was estimated by Driscoll Kraay test. As a result of the study, the effect of tax attractiveness on FDI inflows in both country groups was found to be positive and statistically significant. Policy makers can use this information for future tax reforms that can be targeted to increase the attractiveness of the location. While the effect of increase in per capita income per capita on the FDI inflows in developed countries was positive but statistically insignificant, the effect of other variables was found positive and significant for both country groups. 2026-07-16 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=42956 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=42956 Elnur Hasan MİKAİLHakan ÇORA, Andaç KARABULUT States determine their foreign policies at the end of making qualitative and quantitative evaluations on several factors from their historical processes to their geographical locations, from their political structure to their social values. This study combines concepts from analysis in political data and from organizational behavior better to understand variation in the organization-government interface in the example of Iran and its foreign policy making process. We argue that variances in organization-government relations across countries can be better understood by examining the institutions through which culture and government interact with certain attention to formal restraints such as rules that individuals develop and informal restraints—such as norms and culture of behavior. We also present that characteristics of the institutions involved in the interaction of organization and government can be better comprehended by observing how individuals are appealed to, selected by, and choose to stay as members of institutions. In the study, the factors affecting Iran's Foreign Policy were tried to be explained. Organizational behaviour is the academic study of the paths people act within groups. Its principles are implemented primarily in attempts to make businesses as well as states operate more effectively. Therefore, the Historical Process, Geopolitical Situation, Political Culture, Social Values, Ethnic Structure, Social Structure, and Petroleum Revenues, Public Opinion, Shiite Islamic Understanding were assumed to be independent variables in the analysis process of Iran's Foreign Policy and organization. These independent variables were tried to be analysed in the study by determining the Decision-Making Process and Dependent Variables in foreign policy analysis. While the study mentions that leadership is an important factor in Iran, the influence of religion on the leaders in power tried to be explained. The study states that religion and leadership are influential factors, especially in Iran's foreign policy. 2026-07-16 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=39825 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=39825 Yavuz ÖZEK The current account balance is one of the important indicators providing information about the economic performance of a country. An unbalanced current account is undesirable for economies. There are many studies in the literature about The current account deficit (CAD) which is one of the most important issue for specially Turkey and developing countries such as Turkey. Turkey has been struggling current deficit for many years. This study focused on determining the CAD using regime change model in order to demonstrate the asymmetric behavior of the CAD based on data from 1987:Q1 to 2012:Q4 in Turkey. In this context, the data set was obtained from the database of the Turkish Statistical Institute and was free from seasonality according to the Serial Tramo-Seats method. Markov regime change model developed by Hamilton (1989) and Krolzig (1997,1998) to analyze augmented (Extended) Dickey-Fuller (1979, 1981 ADF) unit root test and conjuncture waves as analysis method in the study has been implemented. According to the findings obtained from empirical tests, the current account deficit in Turkey showed a contraction regime in the years of 1994, 2001 and 2008-2009 when economic crisis periods are experienced. In these years, when the contraction regime was observed, the current account deficit is decreasing due to the slowdown in economic growth and the import-dependent construction of exports. In studies conducted in other years, Turkey has shown an expansion regime. The increase in economic activities during the expansion periods of the current account balance causes a high current account deficit. 2026-07-16 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=43353 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=43353 Musa ÖZTÜRK Due to its nature built on uncertainty and chaos, globalization causes severe structural breaks and instabilities in geographies that are not ready for it yet. One of the leading instabilities located within the joint cluster of social, economic, and political areas is the inequality in income distribution. In fact, the distribution of income, which indicates how income is distributed in society, is one of the main causes of large-scale changes and transformations throughout history. With the globalization process, the socioeconomic and political effects of the income distribution increased in terms of speed and level. An increase in income inequality within the country and between countries can have multi-dimensional effects from sociological traumas to political instability. The benchmark of the differentiation of economic systems is 'how income is distributed', and income distribution's being fair is among the sine qua non in terms of inclusive and sustainable economic growth and social welfare. Today, almost all countries take measures to fight this problem and try to suppress the effects of it by making social expenditures. The present study provides a symmetrical and asymmetrical investigation of the causality relations between income distribution and social expenditures in Turkey. The study uses the causality test developed by Dolado-Lütkepohl and according to the findings of the symmetrical analysis of the study, the presence of the causality relation was found from social expenditures to income distribution. Upon reviewing the asymmetrical relations in the center of positive and negative shocks, it was determined that the increases and decreases in social expenditures have a reverse effect on income distribution while the deteriorations in income distribution reduce social expenditures and thus is able to trigger a vicious cycle. These results indicate that social expenditures in Turkey are significant and effective in fighting inequality in income distribution and hint that a reduction in social expenditures may have a negative effect on income inequality and thus on macroeconomic stability. 2026-07-16 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=42650 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=42650 Cebrail TELEKAhmet ŞİT Cryptocurrency can be defined as a digital asset and a virtual element designed to be an alternative exchange tool for cash in terms of how it works, securing transactions using encryption (cryptography). Looking across the world, there are Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin, Cardano, Nem, Iota, Stellar, Dash and many more cryptocurrencies. The most famous of the cryptocurrencies today is Bitcoin, which is the most preferred in terms of transaction volume and constitutes approximately 50% of the cryptocurrency volume. Bitcoin, created by a person or community named Satoshi Nakatomo in 2008 and the first transfer in 2009, is a digitally created cryptocurrency. The aim of this study is to investigate the relationship between Bitcoin, a cryptocurrency, and gold ounce prices and dollar index. In the study, 2012- 2019 was determined as the term and the monthly data were examined. ARDL Boundary test approach was used as a method to determine the cointegration relationship between the examined variables. As a result of the study, a long-term co-integrated relationship between Bitcoin's gold and foreign exchange price was determined. With this result, a 1% increase in the gold ounce price will increase Bitcoin prices by about 15% in the long run; The 1-unit increase in the USD index indicates that it will increase Bitcoin prices by about 0.28%. However, it was concluded that there was no co-integrated relationship between the variables in the short term. 2026-07-16 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=41964 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=41964 Nevzat TETİK With the action plans created in the Medium Term New Economy Program by the Ministry of Treasury and Finance of Republic of Turkey, shaped with the main theme of "Interchange Begins" embracing the years 2020-2022, it is proposed transition to a new economic model would create a powerful Turkey. In the major topic of this program as financial stability, during the program period to strengthen and ensure financial stability, the steps to be taken under the subtitle of policies and measures are listed systematically. The point is the question of these policies and measures is aimed to create a modern next-generation finance channel under the name of crowd funding for the financing of innovative projects by encouraging digital transformation for would be a solution to the financing problems of entrepreneurs who are the main pillar of the country's development. The term of crowd funding is a financial approach which could be expressed as fund raising method for entrepreneurs who have trouble finding financial resources for the funds they need. This financial approach bands together by gathering small amounts of funds from general masses for entrepreneurs. The crowd funding approach is an alternative financial method for Turkish entrepreneurs which have been applied around the world since end of 1990's. In Turkey, it has increased the practice field at small sizes in 2010. With the New Economy Program, Turkish entrepreneurs have been encouraged for using crowd funding approach. Consequently, it is essential to examine with including all dimensions for the purpose of informing the public for this quite new application for entrepreneurs. In this study, we give general information about crowd funding for expecting awareness in Turkey. We study to improve and evaluation the system in a healthy manner and try to develop proposal. In this context, crowd funding which is a reflection of Turkey's development move, should use an opportunity, it is extremely important to establish an effective supervision system by making legal arrangements immediately with the necessary regulations and revisions in line with the current conditions. Besides, in the lack of knowledge and experience arising from the fact that this financing method is quite new, we speculate that it would be useful for making up the shortage, organizing contact meetings and distribution of introductory brochures and booklets to the public by experts and institutions whom qualified on this field. 2026-07-16 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=41496 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=41496 Özhan TUNCAYElina KAPAROVA Foreign Direct Investment (FDI) is of vital importance especially in the economic development efforts of developing countries and constitutes the necessary capital resource for investments in the relevant countries. The main reason why the former Eastern bloc countries, also called transition economies, experience economic growth and development problems after transition to the market system is the lack of capital accumulation in these economies. Also, in these countries, lower savings and higher consumption tendencies emerge as another problem. Investments are also insufficient due to the low level of savings in these countries. This situation brings with it a vicious cycle of low growth and development rate due to lack of savings and of investment. With the dissolution of the Union of Soviet Socialist Republics in the early 1990s, the states that gained their independence faced socio-economic problems caused by a sudden transition from the centrally planned economy to the market economy. These economies, in which the transition to the market system is quite painful, are therefore commonly referred to as "Transition Economies".Central Asian Turkish Republics, which are among the transition economies, also need external financial resources to overcome problems such as lack of capital accumulation, low exchange income and public finance deficits. In this study, the factors that determine FDI in four Central Asian Republics (Kazakhstan, Turkmenistan and Kyrgyzstan, Uzbekistan) in the period between 2000 and 2016 were analyzed. For this purpose, variables such as economic growth, market size, macroeconomic stability, real effective exchange rate and infrastructure development were used. For this purpose, the factors expected to affect FDI were determined by using Dynamic Panel Data Analysis method by using the GMM estimator of Arellano-Bond (1991). As a result of the empirical analysis, an opposite relationship was found between the real effective exchange rate (rer) and infrastructure (TEL) variables and the dependent variable. It is observed that there is a similar relationship between macroeconomic stability, market size and economic growth variables and dependent variable. The real effective exchange rate (rer), macroeconomic stability (inf) and infrastructure (TEL) variables are statistically significant and largely explain the dependent variable. 2026-07-16 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=42831 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=42831 Fatih Fuat TUNCER After Kosovo’s one-sided declaration of independence, many new argumentations came to the agenda and the ‘Kosovo Issue’ occurred a new polarization in international system in 21. Century. While the USA, as the winning side of the Cold War, was supporting Kosovo’s independence; Russia ---as the other superpower of the Cold War and the successor of Soviet Union- openly objects Kosovo’s independence. This situation has created a new competition among the United States who is believed to gain a permanent victory in the Cold War and Russia who desires to replace its status as a superpower. This new competition was first truly tested in Kosovo. Following the dissolving of Yugoslavia, the political map of Balkans was reshaped. The positions taken by the countries that have declared independence from Yugoslavia have revitalized the discussion of power in the international system. War in Yugoslavia, in a way, have shown that end of history has not yet arrived and international system is bound to see important crises in the future. Especially the experiences in Bosnia-Herzegovia and Kosovo have not limited only with regional impact but became effective in global level wherein actors multiplied with globalization following the Cold War. Russia’s reaction to the Yugoslavian War and the USA’s intervention in the problem through the NATO have illustrated a new dimention of USA-Russia competition. Russia’s assumption that it was contained by the USA after the Cold War has emerged ‘a new containment concept’ in the field of international relations. 2026-07-16 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=43558 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=43558 Serdar Vural UYGUN Psychological contract can be defined as the entirety of perceptions that are formed by way of interpretation of the messages that are transmitted on a mutual basis as relating to the relevant task using any method of communication outside of the formal hierarchical relationship in between administrators and personnel members in working life. On the other hand, the task-based pleasure that the personnel member derives taking into consideration the adjustment of his task for his own objectives and expectations can be defined with the concept of task satisfaction. Personnel members establish a perception of psychological contract in the organization in which they work as consciously or unconsciously. When the relevant perception overlaps with the individual goals and expectations, the personnel member will start to have a sense of satisfaction relating to the task which he conducts. From this angle, the higher the degree of overlapping is, the more the degree of satisfaction that will be obtained from the task being conducted. Moreover, obtainment of task satisfaction will have a clear impact as directly on the manner of conducting of the task, its efficiency and even its pace. In this sense, it is evaluated that the psychological contract will have a direct impact on the degree of satisfaction relating to the tasks that they conducted by both private sector personnel and public sector. The significance of the task satisfaction belonging to the public personnel being the subject of public service is indeed highly important in order to conduct the public service efficiently and effectively. Examination of the impact that the perception of the psychological contract will have on the task satisfaction for which it is possible to say that it is being shaped through the administrative climate in the organization where he works and the legislative provisions that are in force seems important due to the functioning of the public service. In order to examine the relevant impact, the survey work as based on the face to face method has been conducted as part of the work. With the questions that were prepared for the relevant survey and that were posed to the part of the personnel members of public institutions, endeavor was made to examine the level of impact of the perception that is formed with the public personnel on their task satisfaction as part of the psychological contract. From this angle, a face to face survey was applied as directly on 576 personnel members who possess different qualifications and service areas in total. In consequence of evaluation of the data which were gathered, it was determined that there is a high linear relationship in between the character of the perception that relates to the elements constituting the psychological contract and the level of task satisfaction. 2026-07-16 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=42688 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=42688 Yakup ÜLKERHarun TAT Private Pension System which firstly comes into our lives and virtually began to register members on October 27,2003 has achieved a high growth since 2003. The system has had the biggest change since January 1,2017. On this date, 45 years old citizen of the Republic of Turkey in the public or private sector input into the system automatically performing employees. Thus, the Automatic Participation System (OKS) started. The reactions of the participants have been highly below the average. Leaving the system has happened in both the public and private sector. Although initially not enough, as time went on, serious increases occured in both savings and participants in the system through reforms. This system is a case of Private Pension practice. The purpose is to evaluate the funds (contributions) and make payments to the individual in a way to benefit from retirement. The funds provided here should be recorded regularly by the accounting department of the system and the funds evaluated with expert financiers should also be protected by keeping track of them. If registration procedures are not followed systematically deficits that will occur in time will make the system uncontrollable and the expected benefits will not occur. In the study, functioning, financing and financial highlights for evaluation and accounting practices of Private Pension System were mentioned and the perspectives of teachers who constitute an important population in our country were evaluated with a field research. In the study, the reasons of leaving the system have been determined and suitable solutions have been proposed. Since participants were not informed about the system before, they involved in the process without having information about funds. Therefore, the participants who were unaware of the interest -free funds left the system considering that their savings were used in interest-fund. Although state subsidy has been reacted positively by the participants, excluding the inflation rate from the process caused falling short of the expectations of persons. Automatic participation of the participants without getting their opinions has also disturbed them. At the end of the study, it has been determined that demographical characteristics such as age, marital status and gender have no significant relationship with membership to the system. It has been revealed that state subsidy, tax advantage, second pension choice, support for economising, having the opportunity of receiving savings collectively have a significant relationship with membership to the system. 2026-07-16 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=43671 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=43671 Arif YILDIZ In today's world, where information is becoming more and more widespread and technology is developing rapidly, one of the factors that businesses should consider is consumer behavior. Consumer behavior is related to how a consumer purchases products. Consumer behavior is a process that starts from the pre-purchase stage, including the moment of purchase and post-purchase evaluations. It can be said that consumers are faced with some purchase decisions almost every hour. Consumers make various decisions in this process and are influenced by many factors while making these decisions. As a result, there are two basic needs that push consumers to purchase behavior. The first is hedonic impulses and the second is utilitarian motivations. In this study, these two factors, which are effective in the decision-making processes of consumers, are discussed comparatively. In this context, Firstly, the concept of consumer purchasing is explained, and then the stages of the consumer purchasing decision process are included. In the second part, the concept of utilitarian consumption is explained and the reasons that lead the consumer to utilitarian consumption are emphasized. And finally in the last part of the study, the concept of hedonic consumption and the reasons that push consumers to hedonic consumption are examined. An in-depth literature review was made and the studies on the subject were examined meticulously. In line with the results obtained from the study, it was concluded that the reasons that push consumers to shop are not only utilitarian motivations or hedonic reasons, but both impulses can be effective in shopping. The study is thought to be beneficial to relevant stakeholders such as academics, researchers, managers and marketers. 2026-07-16 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=41800 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=41800 Emre ÇITAK Terrorism is seen as one of the most serious security problems of the period experienced. Organizational emphasis is very important among many concepts that are considered within the framework of the definition of terrorism. Terrorist groups tend to form a systematic organizational structure and act in this context in order to survive, achieve their political goals and carry out their actions. Today, it is possible to state that terrorist organizations seek to function like other institutional and organized structures. Accordingly, organizational culture and learning understanding are of special importance for those illegal groups. While terrorist organizations are gradually becoming constantly learning assets, organizational culture is shaped in the context of learning processes. Organizational culture and learning processes are the main factors that determine the identity and behavior of the organization. In this study, first, a conceptual framework on organizational culture, organizational learning and terrorist organizations will be included. Thus, the key points of the study will be presented to the reader. Then, the organizational learning processes experienced by terrorist organizations and cultural development in this context will be discussed with various examples. In this section, it will be tried to examine how terrorist groups experience learning processes as an organization, what methods they use and how the organizational culture is adopted by the members. In the conclusion, an assessment will be made on the learning behavior of terrorist organizations and the need to analyze learning processes in the fight against terrorism will be emphasized. It is thought that the study will contribute to the field in the context of revealing the transformation experienced by terrorist organizations with increasing impact dimensions in the context of learning processes. 2026-07-16 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=43382 https://turkishstudies.net/economy?mod=makale_tr_ozet&makale_id=43382 Mesut kasap It is understood from the literature review that organizational exclusion that is considered within the scope of the study will cause serious harm to organizational trust. An excluded employee will have a negative view of his business. He will never want to devote himself to that business and he will not feel safe. The employee will want to get rid of the business as soon as possible. General research shows that; business environment needs to be created with mutual trust-based networks. There are individuals who feel safe thanks to a healthy work environment. The purpose of this study is to reveal the importance of preventing exclusion and to provide an organizational trust environment and to understand that businesses can survive. This study, which aims to measure the exclusion perception levels and organizational trust levels of the organization's employees, in order to compete effectively and to achieve their goals, especially healthcare and hospitality enterprises, is a quantitative research. The universe of the research is accommodation establishments and health establishments located in the South Marmara Region (GMB). Accordingly, 10 accommodation establishments with GMBs and 5 private hospitals working independently were contacted. The questionnaire was mostly applied face to face and via e-mail. In the research, the data were collected with the help of a questionnaire form consisting of three parts. The first part consisted of six questions regarding demographic features. In the second part, Omarov (2009) has an organizational trust scale consisting of 22 questions. As a result, an inverse proportion has emerged between exclusion and organizational trust. Reducing the perception of organizational exclusion of employees in the service sector will increase their confidence in the businesses they work for. 2026-07-16