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Article
Publication date: 17 February 2022

Şerif Canbay and Mustafa Kırca

The study aims to determine whether there is a bidirectional causality relationship between health expenditures and per capita income in Brazil, Russia, India, China, South Africa…

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Abstract

Purpose

The study aims to determine whether there is a bidirectional causality relationship between health expenditures and per capita income in Brazil, Russia, India, China, South Africa and Turkey (BRICS+T).

Design/methodology/approach

For that purpose, the 2000–2018 period data of the variables were tested with the Kónya (2006) panel causality test. Additionally, the causality relationships between public and private health expenditures and per capita income were also investigated in the study.

Findings

According to the analysis results, there is no statistically significant causality relationship from total health expenditures and public health expenditures to per capita income in the relevant countries. Besides, there is a unidirectional causality relationship from private health expenditures to per capita income only in Turkey. On the other hand, a unidirectional causality relationship from per capita income to total health expenditures in China, Russia, Turkey and South Africa and from per capita income to public health expenditures in India, Russia, Turkey and South Africa were determined. Consequently, a causality relationship from per capita income to private health expenditures was found out in Russia and Turkey.

Originality/value

The variables are tested for the first time for BRICS+T countries, vis-à-vis the period under consideration and the method used.

Details

Journal of Economics, Finance and Administrative Science, vol. 27 no. 53
Type: Research Article
ISSN: 2218-0648

Keywords

Article
Publication date: 22 December 2023

Veli Yılancı, Mustafa Kırca, Şeri̇f Canbay and Muhlis Selman Sağlam

This study aims to test the unemployment hysteresis hypothesis for Nordic countries by considering age and gender differentials at various frequencies.

Abstract

Purpose

This study aims to test the unemployment hysteresis hypothesis for Nordic countries by considering age and gender differentials at various frequencies.

Design/methodology/approach

First, the authors test the linearity of the unemployment series and apply appropriate unit root tests based on the linearity test results. The authors use these tests for both original and wavelet-decomposed unemployment rates.

Findings

The authors' findings indicate that the results obtained from the original and decomposed series differ. While the authors find evidence of unemployment hysteresis in the six unemployment rates in the short run, they observe supportive results for hysteresis in the three unemployment rates in the long run.

Originality/value

The authors take into account different age and gender groups. Furthermore, the authors propose a testing strategy for unemployment hysteresis that considers the nonlinearity and structural breaks in unemployment rates. Finally, the authors determine whether the unemployment hysteresis is valid at various frequencies.

Details

International Journal of Manpower, vol. 45 no. 6
Type: Research Article
ISSN: 0143-7720

Keywords

Article
Publication date: 29 March 2023

Şerif Canbay, İnci Oya Coşkun and Mustafa Kırca

This study investigates if the causal relationships between the exchange rates and selected inbound markets’ tourism demand are temporary or permanent, and compares market…

Abstract

Purpose

This study investigates if the causal relationships between the exchange rates and selected inbound markets’ tourism demand are temporary or permanent, and compares market reactions in Türkiye.

Design/methodology/approach

Tourism demand is examined with a regional approach, focusing on the geographical markets, namely Europe, Commonwealth of Independent States (CIS) members and Asian countries, as the top inbound tourism markets, in addition to the total number of inbound tourists to Türkiye. Granger, frequency-domain causality, asymmetric Toda–Yamamoto, and asymmetric frequency-domain causality tests were employed to investigate and compare markets on exchange rate–tourism demand relationship for 2008M01-2020M02.

Findings

The results indicate that exchange rates affect European tourism demand both in the short and long run. The meaning of this Frequency Domain Causality (FDC) analysis finding shows that the exchange rate has both permanent and temporary effects on European tourists. The relationships are statistically insignificant for CIS members and Asian countries. The exchange rates also permanently affect total inbound tourism demand, but the independent variable has no short-run (temporary) effects on total demand. Asymmetric causality tests confirmed a permanent causality relationship from the positive and negative components of exchange rates to the positive and negative components of European and total tourism demand.

Originality/value

The Granger causality test provides information on the presence of a causal relation, while the FDC test, an extended version of Granger causality, enlightens the short- (temporary) and long-run (permanent) relationships and allows for analyzing the duration of the impact. In addition, asymmetric causality relationships are also investigated in the study. Besides, this study is the first in the literature to examine the relationship between tourism demand and the exchange rate regionally (continentally) for Türkiye.

Details

International Journal of Emerging Markets, vol. 19 no. 12
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 15 June 2021

Mustafa Kırca and Şerif Canbay

This study aims to investigate whether changes in consumer interest rate, exchange rate and housing supply have permanent effects on housing inflation in Turkey.

Abstract

Purpose

This study aims to investigate whether changes in consumer interest rate, exchange rate and housing supply have permanent effects on housing inflation in Turkey.

Design/methodology/approach

For this purpose, data from 2010M01 to 2020M06 and changes in consumer interest rate, exchange rate, housing supply and housing inflation were used. Relationships between variables are analyzed first by the Granger causality tests and then the conditional frequency domain causality tests. The conditional frequency domain causality test specifically reveals the permanent causality between variables, whether there is a permanent effect.

Findings

According to the Granger causality test results, there are causality relationships from changes in the consumer interest rate and exchange rate to housing inflation. However, there is no causality relationship between housing supply and housing inflation. According to the conditional frequency domain causality test results, there is causality for the permanent and mid-term from changes in the consumer interest rate to housing inflation and causality for the mid-term and temporary from changes in the exchange rate to housing inflation. Additionally, it was found that there are causality relationships between changes in the consumer interest rate and changes in the exchange rate.

Research limitations/implications

The first limit of the study is that only 2010M01-2020M06 months can be considered. Because the date that variables started common is 2010M01. Besides, there is a limit in the study in variables used. Many variables, both micro and macro, can be added to affect housing inflation.

Originality/value

Housing inflation is a remarkable issue in Turkey. There is an increase in the number of studies on the subject in recent years. For this reason, the study is trying to contribute by approaching the subject from a different angle. The most important contribution of the study is that it has not been investigated whether the determinants of housing inflation have permanent or temporary effects, which were not done in previous studies. In addition, the method used reveals how many months the effects of changes in exchange rates, consumer interest rates and housing supply on housing inflation last. Based on the findings obtained from the methods, important economic and political implications have been put forward in depth.

Details

International Journal of Housing Markets and Analysis, vol. 15 no. 2
Type: Research Article
ISSN: 1753-8270

Keywords

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