Economics Literature 2020-01-24T19:28:49+00:00 Yılmaz Kılıçaslan Open Journal Systems <p><strong>Economics Literature (eLit)</strong>, is designed to help researchers in the area of economics keep abreast of the vast flow of literature. <strong>Economics Literature</strong> issues contain commissioned, peer-reviewed survey and review articles, short communications, book reviews, an annotated bibliography of new books classified by subject matter, and a brief of dissertations in universities&nbsp;during the previous academic year.</p> <p>&nbsp;</p> Issue Information (Vol. 1 Issue 2) 2020-01-24T19:28:48+00:00 admin admin 2019-12-31T00:00:00+00:00 ##submission.copyrightStatement## The Inclusive Development Index and a Review on the Socioeconomic Development Process of Turkey 2020-01-24T19:28:48+00:00 Ömer Emirkadı <p><em>In this study, inclusive development, which is a follow up of the structural adjustment policies expressed by World Bank, is tried to be analyzed through inclusive development index and it is tried to forefront the fields that are necessary to make the development process more inclusive. In accordance with this purpose, 2017 Inclusive Growth and Development Report was drawn upon. The inclusive approach, which is an alternative to searches for development regarding the solution of poverty, is an open approach to solve the development of poverty,distribution of income and wealth both on a global and national scale&nbsp; based on the visible and invisible capital and constraints. When the reflections of inclusive development concept, which is a new discourse aimed to minimize poverty, on socio-economic structure of Turkey are analyzed, it can be seen that Turkey, having one of the worst performances, is ranked 79th among the developing countries regarding, especially, inequality in income distribution, employment and youth unemployment. Therefore the debates whether the inclusive development discourse causes solid and sustainable direction shift maintain to protect its importance. It is thougt that this study is to fill the gap in the literature since there is no such large study on inclusiveness concept, which dates back to 20 years, regarding Turkey. </em></p> 2019-12-31T00:00:00+00:00 ##submission.copyrightStatement## Financial Literacy, Trust and Stock Market Participation in Ghana 2020-01-24T19:28:48+00:00 Solomon Antwiagyei Kuffour George Adu <p><em>Financial markets and products have increasingly become complicated as a result of the influx of financial products hence consumers are now required to make complex financial decisions about their day to day investment decisions, portfolio choice and future financial planning. To make an informed decision, a considerable level of financial literacy and trust is required. Globally, households are encouraged to take a more active approach to personal finance. However, the success depends largely on the level of financial literacy of the individual. Again, global evidence of stock market non-participation puzzle has warranted several studies to ascertain what explains the phenomenon.&nbsp; For this reason, this paper examines the impact of financial literacy and trust on stock market participation and also ascertains if there exists any gender gap in financial literacy and share ownership. Using survey data on a sample of 398 respondents, there was an evidence of low financial literacy levels. The probit regression results show that less financially literate investors are significantly less likely to invest in stocks if socio-demographic characteristics and risk attitudes are accounted for. However, the individual’s subjective level of trust in the stock market has no explanatory effect on the individual’s decision to invest in stocks. Hence, financial literacy partly explains the non-participation puzzle in financial literacy and stock market participation. It is also found that financial literacy is affected by one’s level of education and access to financial information, hence financial literacy programs should be given much attention especially through the use of electronic media.</em></p> 2019-12-31T00:00:00+00:00 ##submission.copyrightStatement## The Effect of Exchange Rate and Interest Rate Volatilities on Stock Prices: Further Empirical Evidence from Ghana 2020-01-24T19:28:48+00:00 Grace Ofori-Abebrese Samuel Tawiah Baidoo Peter Yaw Osei <p><em>Studies have proven that volatilities in the rates of exchange and interest influence the performance of institutions and the values of their shares. This study investigates empirically the effect of exchange rate and interest rate volatilities on stock prices of financial institutions listed on the Ghana Stock Exchange using monthly data spanning the period January 2000 to October 2016. The generalized auto regressive conditionality heteroskedastic (GARCH) model is employed for the analysis. The results show that </em><em>exchange rate volatility exerts positive effect on stock prices whereas interest rate volatility impacts on stock prices negatively. These results imply that the trade-off between risk and return can be predicted so industry players and stakeholders can manage risk to ensure a vibrant financial market. It is also suggested that there is the need for stakeholders and policy makers to ensure that these variables are stable or the volatilities are minimized in the economy. This will go a long way to enhance the performance of the stock market activities in the country.</em></p> 2019-12-31T00:00:00+00:00 ##submission.copyrightStatement## The Effect of Exchange Rate Fluctuation on the Performance of Manufacturing Firms: An Empirical Evidence from Ghana 2020-01-24T19:28:48+00:00 Emmanuel Buabeng Enock Kojo Ayesu Opoku Adabor <p><em>This study examines the effect of exchange rate fluctuations on the performance of manufacturing firms in Ghana for the period 1990 to 2018. The study uses the bounds test approach to cointegration within the framework of autoregressive distributed lags model as the estimation strategy. The results reveal that exchange rate and monetary policy rate has a negative and significant relationship with manufacturing firm performance. It was also found that inflation, trade openness, and investment have significant positive relation with manufacturing firm performance in Ghana. Based on the negative and significant relationship with exchange rate and manufacturing firm performance, it is recommended that government and private partnership should ensure effective management of the exchange rate fluctuation and also encourage manufacturing firms to patronize locally made capital goods for their production in the face of a depreciating exchange rate. Further, the study recommends that monetary authorities should reduce interest rate to increase investment by firms. This will enhance manufacturing firms’ performance. </em></p> 2019-12-31T00:00:00+00:00 ##submission.copyrightStatement## The Determinants of Credit Dolarization: Turkish Case 2020-01-24T19:28:48+00:00 Nilgün Çağlarırmak Uslu Sevcan Kapkara <p>The aim of this study is to determine the factors which cause credit dollarization phenomenon in Turkish banking sector. For this purpose, monthly data for January 2006 - January 2019 are used in the econometric estimations. Variables selected as determinants of credit dollarization are liability dollarization, deposit dollarization, inflation rate, real exchange rate, loan interest rate and leverage ratio. The relationship between these variables and credit dollarization was tested by Vector Error Correction Model (VECM) and the factors affecting credit dollarization were determined. The econometric test results show that the credit dollarization phenomenon affected positively from the increase in dollarization in terms of deposits and liabilities, the inflation rate, the increase in commercial loans interest rate of Turkish Lira and the increase in leverage ratio, however, the increase in the exchange rate affected credit dollarization negatively. The results indicate that credit dollarization phenomenon in the banking sector is affected by both macroeconomic indicators and sector dynamics.</p> 2019-12-31T00:00:00+00:00 ##submission.copyrightStatement## Ekonomik Özgürlükler ve Vergi Gelirleri Arasındaki İlişki: OECD Ülkeleri Örneği 2020-01-24T19:28:48+00:00 Ercan Bahtiyar <p>The main purpose of this study is to determine whether economic freedoms have an effect on tax revenues. In this context, it is aimed to determine the factors affecting tax revenues in OECD member countries and to evaluate and analyze the effects of economic freedoms on tax revenues through the data obtained.</p> <div class="yj6qo ajU">&nbsp;</div> 2019-12-31T00:00:00+00:00 ##submission.copyrightStatement##