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Orta ve Doğu Avrupa’da İş Ortamının Ülkeler Arası Değerlendirmesi

Year 2018, Volume: 7 Issue: 3, 33 - 54, 31.12.2018

Abstract

Üretimin mekân seçimi, bunun bölgesel ekonomi üzerindeki etkisi yeni ekonomik coğrafya (YEC) tarafından yoğun biçimde incelenmektedir. Sayısız kanallar arasında, bir ekonomide sağlam bir iş ortamı ve yeni firmaların davranışı mekânsal farklılıkların anlaşılmasında kullanılır. Bu çalışma YEC’in önerdiği yaklaşımı uyarlayarak Orta ve Doğu Avrupa ülkeleri arasında iş ortamında farklılaşmanın dinamiklerini inceliyor. 2008 Küresel Finans Krizi öncesi dönemine odaklanarak, bulgular iç ve dış talep ile makro ekonomik istikrarın bölgede iş ortamının gelişmesini uyardığını işaret ediyor. Diğer taraftan, tahmin sonuçları finansal derinleşmenin endüstriyel iş sektörleri üzerinde negatif etki yaptığını gösteriyor. Tahmin edilen modeller iş ortamının gelişmesi ile coğrafik yakınlık, bütünleşme düzeyi, kurumsal zemin ve yönetişim gibi diğer değişkenler arasında herhangi bir ilişki saptamadı.

References

  • Acs, Z. J., D Audretsch, P. Braunerhjelm and B. Carlsson (2003), “The Missing Link: The Knowledge Filter and Endogenous Growth,” DRUID Summer Conference.
  • Alfaro, L, C. Areendam, S. Kalemli-Ozcan and S. Sayek (2004), “FDI and Economic Growth: The Role of Local Financial Markets,” Journal of International Economics, 64, 89-112.
  • Alonso, W. (1964), Location and Land Use: Toward a General Theory of Land Rent, Harvard University Press Cambridge, MA.
  • Audretsch, D. B. and M. Keilbach (2004), “Entrepreneurship and regional growth: an evolutionary perspective,” Journal of Evolutionary Economics, 14, 605-616.
  • Aysan, A., G. Pang and M. A. Véganzonès - Varoudakis (2005), “How to Boost Private Investment in the MENA Countries: The Role of Economic Reforms,” Topics on MENA Economies, Vol.7.
  • Baltagi, B. H. (2005), Econometric Analysis of Panel Data, 3rd Edition, England J.W.&Sons.
  • Beck, T. and L. Laeven (2005), “Institution building and growth in transition economies,” Working Paper.
  • Bencivenga, V. R. and B. D. Smith (1991), “Financial Intermediation and Endogenous Growth,” The Review of Economic Studies, 58(2), 195-209.
  • Bencivenga V. R., B. D. Smith and R. M. Starr (1996), “Equity markets, transactions costs and capital accumulation: an illustration,” World Bank Economic Review, 10, 241-265.
  • Borensztein, E., J. De Gregorio and. J.W. Lee (1998), “How does foreign investment affect growth?” Journal of International Economics, 45(1), 115-135.
  • Djankov, S., R. La Porta, Lopez F. Di-Silanes and A. Shleifer (2002), “The Regulation of entry,” The Quarterly Journal of Economics, 117(1), 1-37.
  • Dogruel, F. and A. S. Dogruel (2011), “Karadeniz Cevresi Ulkelerde Gecis Donemi ve Dunya Ekonomisi ile Butunlesme,” in E. Akbostancı and O. Erdogdu (Eds) Kuresel Bunalim ve Karadeniz Bolgesi Ekonomileri, Turkish Economic Association, Ankara, 103-124.
  • Dreher, A. (2006), “Does Globalization Affect Growth? Evidence from a new Index of Globalization,” Applied Economics, 38(10), 1091-1110.
  • Dreher, A., N. Gaston and P. Martens (2008), Measuring Globalisation - Gauging its Consequences, New York: Springer.
  • Emran, S.M. and J. E. Stiglitz (2009), “Financial Liberalization, Financial Restraint, and Entrepreneurial Development” paper available at https://core.ac.uk/download/pdf/6291618.pdf
  • Evans, D. S. and B. Jovanovic (1989), “An Estimated Model of Entrepreneurial Choice under Liquidity Constraints,” The Journal of Political Economy, 97(4), 808-827.
  • Frankel, J.A. and D. Romer (1999), “Does Trade Cause Growth,” The American Economic Review, 89(3), 379-399.
  • Fujita, M. (1988), “A Monopolistic Competition Model of Spatial Agglomeration: A Differentiated Product Approach,” Regional Science and Urban Economics, 18, 87-124.
  • Fujita, M., P. Krugman and A. Venables (1999), The Spatial Economy. Cities, Regions and International Trade, Cambridge MA: MIT Press.
  • Grossman, G. and E. Helpman (1991), Innovation and Growth in the World Economy, Cambridge, MIT Press.
  • Harris, C. (1954), “The Market as a Factor in the Localization of Industry in the United States,” Annals of the Association of American Geographers,.64, 315-348.
  • Hausman, J. (1978), “Specification Test in Econometrics,” Econometrica, 46, 1251-1271
  • Helpman, E. and P. Krugman (1985), Market Structure and Foreign Trade, Cambridge, MIT Press.
  • Hoover, E. M. (1963), The Location of Economic Activity, McGraw Hill, New York.
  • Isard, W. (1954), “Location Theory and Trade Theory: A Short-Run Analysis,” The Quarterly Journal of Economics, 68(2), 305-320.
  • Krugman, P. (1991a), Geography and Trade, MIT Press.
  • Krugman, P. (1991b), “History and Industry Location: The Case of Manufacturing Belt,” The American Economic Review, 81(2), 80-83.
  • Krugman, P. (1991c), “Increasing Returns and Economic Geography,” The Journal of Political Economy, 99(3), 483-499.
  • Krugman, P. (1992), “A Dynamic Spatial Model,” NBER Working Paper No.4219.
  • Krugman, P. (1995), Development, Geography and Economic Theory, Cambridge, MIT Press.
  • Rodriguez, J. L., J. A. Faina and J. L. Rodriguez (2007), “Human Capital Accumulation and Geography: Empirical Evidence from the European Union,” Regional Studies, 41(2), 217-234.
  • Marshall, A. (1920), Principles of Economics, London, Macmillan, 7th Edition.
  • McKinnon, R. I. (1973), Money and Capital in Economic Development, The Brookings Institution.
  • Reynolds, P., D. J. Storey and P. Westhead (1994), “Cross-national Comparisons of the Variation in New Firm Formation Rates,” Regional Studies, 28(4), 443-456.
  • Schumpeter, J. A. (1912), The Theory of Economic Development, Harvard University Press.
  • Servén, L. (1998), “Macroeconomic Uncertainty and Private Investment in LDCs: An Empirical Investigation,” Policy Research Working Paper N. 2035, the World Bank, Washington D.C.13.
  • Servén, L. and A. Solimano (1993), “Private Investment and Macroeconomic Adjustment: A Survey,” in Luis Servén and Andrés Solimano, eds., Striving for Growth After Adjustment, Washington D.C.: The: World Bank.
  • Shaw, E. S. (1973), Financial Deepening in Economic Development, Oxford University Press.
  • Storey, D. J. (1994), Understanding the Small Business Sector, 1st Edition, Routledge, London.
  • Sutaria, V. and D. A. Hicks (2004), “New firm Formation: Dynamics and Determinants,” The Annals of Regional Science, 38, 241-262.
  • Venables, A. J, (1996), “Equilibrium Locations of Vertically Linked Industries,” International Economic Review, 37(2), 341-359.
  • Von Thünen, J. H. (1826), Der Isolierte Staat in Beziehung auf Landscaft und Nationalökonomie. Hamburg (English Translation by C.M. Warterberg, von Thünen’s Isolated State, Oxford: Pergamon Press).

A Cross Country Assessment of Business Environment in the Central and Eastern Europe

Year 2018, Volume: 7 Issue: 3, 33 - 54, 31.12.2018

Abstract

Location decision of production, its direct and indirect consequences on regional economies are densely investigated by the new economic of geography (NEG) literature. Among numerous channels, formation of a sound business environment and the behavior of new firms in an economy are used in order to understand locational differences. This study adopts the approach offered by the NEG to scrutinize the dynamics and the differentiation of the business environment among the CEE countries. Focusing on the pre-2008 Global Financial Crisis era, findings indicate that domestic and external demand potential and macroeconomic stability stimulate the development of the business environment in the region. On the other hand, estimation results show that the financial deepening has negative impact on the industrial business sectors. The models estimated do not detect any relation between development of business environment and other variables considered such as geographic proximity, level of integration, the institutional background and governance.

References

  • Acs, Z. J., D Audretsch, P. Braunerhjelm and B. Carlsson (2003), “The Missing Link: The Knowledge Filter and Endogenous Growth,” DRUID Summer Conference.
  • Alfaro, L, C. Areendam, S. Kalemli-Ozcan and S. Sayek (2004), “FDI and Economic Growth: The Role of Local Financial Markets,” Journal of International Economics, 64, 89-112.
  • Alonso, W. (1964), Location and Land Use: Toward a General Theory of Land Rent, Harvard University Press Cambridge, MA.
  • Audretsch, D. B. and M. Keilbach (2004), “Entrepreneurship and regional growth: an evolutionary perspective,” Journal of Evolutionary Economics, 14, 605-616.
  • Aysan, A., G. Pang and M. A. Véganzonès - Varoudakis (2005), “How to Boost Private Investment in the MENA Countries: The Role of Economic Reforms,” Topics on MENA Economies, Vol.7.
  • Baltagi, B. H. (2005), Econometric Analysis of Panel Data, 3rd Edition, England J.W.&Sons.
  • Beck, T. and L. Laeven (2005), “Institution building and growth in transition economies,” Working Paper.
  • Bencivenga, V. R. and B. D. Smith (1991), “Financial Intermediation and Endogenous Growth,” The Review of Economic Studies, 58(2), 195-209.
  • Bencivenga V. R., B. D. Smith and R. M. Starr (1996), “Equity markets, transactions costs and capital accumulation: an illustration,” World Bank Economic Review, 10, 241-265.
  • Borensztein, E., J. De Gregorio and. J.W. Lee (1998), “How does foreign investment affect growth?” Journal of International Economics, 45(1), 115-135.
  • Djankov, S., R. La Porta, Lopez F. Di-Silanes and A. Shleifer (2002), “The Regulation of entry,” The Quarterly Journal of Economics, 117(1), 1-37.
  • Dogruel, F. and A. S. Dogruel (2011), “Karadeniz Cevresi Ulkelerde Gecis Donemi ve Dunya Ekonomisi ile Butunlesme,” in E. Akbostancı and O. Erdogdu (Eds) Kuresel Bunalim ve Karadeniz Bolgesi Ekonomileri, Turkish Economic Association, Ankara, 103-124.
  • Dreher, A. (2006), “Does Globalization Affect Growth? Evidence from a new Index of Globalization,” Applied Economics, 38(10), 1091-1110.
  • Dreher, A., N. Gaston and P. Martens (2008), Measuring Globalisation - Gauging its Consequences, New York: Springer.
  • Emran, S.M. and J. E. Stiglitz (2009), “Financial Liberalization, Financial Restraint, and Entrepreneurial Development” paper available at https://core.ac.uk/download/pdf/6291618.pdf
  • Evans, D. S. and B. Jovanovic (1989), “An Estimated Model of Entrepreneurial Choice under Liquidity Constraints,” The Journal of Political Economy, 97(4), 808-827.
  • Frankel, J.A. and D. Romer (1999), “Does Trade Cause Growth,” The American Economic Review, 89(3), 379-399.
  • Fujita, M. (1988), “A Monopolistic Competition Model of Spatial Agglomeration: A Differentiated Product Approach,” Regional Science and Urban Economics, 18, 87-124.
  • Fujita, M., P. Krugman and A. Venables (1999), The Spatial Economy. Cities, Regions and International Trade, Cambridge MA: MIT Press.
  • Grossman, G. and E. Helpman (1991), Innovation and Growth in the World Economy, Cambridge, MIT Press.
  • Harris, C. (1954), “The Market as a Factor in the Localization of Industry in the United States,” Annals of the Association of American Geographers,.64, 315-348.
  • Hausman, J. (1978), “Specification Test in Econometrics,” Econometrica, 46, 1251-1271
  • Helpman, E. and P. Krugman (1985), Market Structure and Foreign Trade, Cambridge, MIT Press.
  • Hoover, E. M. (1963), The Location of Economic Activity, McGraw Hill, New York.
  • Isard, W. (1954), “Location Theory and Trade Theory: A Short-Run Analysis,” The Quarterly Journal of Economics, 68(2), 305-320.
  • Krugman, P. (1991a), Geography and Trade, MIT Press.
  • Krugman, P. (1991b), “History and Industry Location: The Case of Manufacturing Belt,” The American Economic Review, 81(2), 80-83.
  • Krugman, P. (1991c), “Increasing Returns and Economic Geography,” The Journal of Political Economy, 99(3), 483-499.
  • Krugman, P. (1992), “A Dynamic Spatial Model,” NBER Working Paper No.4219.
  • Krugman, P. (1995), Development, Geography and Economic Theory, Cambridge, MIT Press.
  • Rodriguez, J. L., J. A. Faina and J. L. Rodriguez (2007), “Human Capital Accumulation and Geography: Empirical Evidence from the European Union,” Regional Studies, 41(2), 217-234.
  • Marshall, A. (1920), Principles of Economics, London, Macmillan, 7th Edition.
  • McKinnon, R. I. (1973), Money and Capital in Economic Development, The Brookings Institution.
  • Reynolds, P., D. J. Storey and P. Westhead (1994), “Cross-national Comparisons of the Variation in New Firm Formation Rates,” Regional Studies, 28(4), 443-456.
  • Schumpeter, J. A. (1912), The Theory of Economic Development, Harvard University Press.
  • Servén, L. (1998), “Macroeconomic Uncertainty and Private Investment in LDCs: An Empirical Investigation,” Policy Research Working Paper N. 2035, the World Bank, Washington D.C.13.
  • Servén, L. and A. Solimano (1993), “Private Investment and Macroeconomic Adjustment: A Survey,” in Luis Servén and Andrés Solimano, eds., Striving for Growth After Adjustment, Washington D.C.: The: World Bank.
  • Shaw, E. S. (1973), Financial Deepening in Economic Development, Oxford University Press.
  • Storey, D. J. (1994), Understanding the Small Business Sector, 1st Edition, Routledge, London.
  • Sutaria, V. and D. A. Hicks (2004), “New firm Formation: Dynamics and Determinants,” The Annals of Regional Science, 38, 241-262.
  • Venables, A. J, (1996), “Equilibrium Locations of Vertically Linked Industries,” International Economic Review, 37(2), 341-359.
  • Von Thünen, J. H. (1826), Der Isolierte Staat in Beziehung auf Landscaft und Nationalökonomie. Hamburg (English Translation by C.M. Warterberg, von Thünen’s Isolated State, Oxford: Pergamon Press).
There are 42 citations in total.

Details

Primary Language English
Subjects Economics
Journal Section Research Articles
Authors

B. Can Karahasan This is me 0000-0002-4624-9413

A. Suut Doğruel This is me 0000-0002-4933-5528

Publication Date December 31, 2018
Published in Issue Year 2018 Volume: 7 Issue: 3

Cite

APA Karahasan, B. C., & Doğruel, A. S. (2018). A Cross Country Assessment of Business Environment in the Central and Eastern Europe. Ekonomi-Tek, 7(3), 33-54.