Foreign entry and the Turkish banking system in 2000s

In recent decades, the role of foreign ownership in banking sectors, and especially the developing ones has become a frequently investigated topic among finance scholars. Similar to many other developing countries seeking to attract foreign direct investments, Turkey has experienced a great increase in the number of foreign-owned banks in the sector following the 2000 and 2001 economic and financial crises. Using panel data regression analysis for a sample of 31 deposit banks operating in Turkey, for the period 2002–2012, we find that foreign ownership has a negative and statistically significant impact on accounting profits, proxied by the ratio of earnings before taxes to total assets. However, contrary to expectations, three other dependent variables representing interest rate spreads, non-lending activities and short term risk, were not found to be significantly associated with foreign ownership.     

Comparing modes of privatisation: a study of the telecommunications sectors in Argentina and Mexico, 1990–2000

This article examines the variation in the post‐privatisation pattern of labour and employment relations in the telecommunications sectors of Argentina and Mexico. The findings suggest that the initial mode of privatisation—negotiated vs. imposed reform—shaped changes in employment, subcontracting and work rules in the period following privatisation. The research also suggests, however, that negotiated reform is more likely to emerge only when certain political incentives are present.     

Membership patterns in USDAW 1980–1990: survival as success?

This research note examines the pattern of union membership growth in USDAW during 1980 to 1990. The union's recruitment strategies, campaigns at local and national level, and the effect of changes in the labour market such as recent equal value judgements are examined with respect to changes in membership levels.     

Spatial interactions among U.S. cities: 1900–1990

We test implications of economic geography by exploring spatial interactions among U.S. cities. We use a data set consisting of 1900–1990 metro area populations, and spatial measures including distance from the nearest larger city in a higher-tier, adjacency, and location within U.S. regions. We also date cities from their time of settlement. We find that among cities which enter the system, larger cities are more likely to locate near other cities. Moreover, older cities are more likely to have neighbors. Distance from the nearest higher-tier city is not always a significant determinant of size and growth. We find no evidence of persistent non-linear effects on urban growth of either size or distance, although distance is important for city size for some years.     

The economy of Portugal within the European Union: 1990–2002

This article analyzes the impact of the EU on Portugal’s economy, how the EU rules and regulations have affected the country’s policy-making style, and the impact of EU’s transfer of resources. It shows that Portugal has greatly benefitted from joining the EU: the rapid exposure to foreign competition has forced modernization of many sectors; there was a retreat of the state from direct involvement in economic activities and the creation of a number of new export-oriented sectors, and EU transfers were effectively applied in modernizing the country’s infrastructure. However, increased productivity has not improved equity from both an income distribution point of view and from regional income concentration.     

Population growth in U.S. counties, 1840–1990

We examine the location and growth of the U.S. population using county-level census data from 1840 and 1990. Natural characteristics (e.g., access to water transportation) heavily influenced where populations located in 1840, and produced characteristics in existence in 1840 (e.g., educational infrastructure) had a significant influence on subsequent growth. Evidence of population convergence appears only when the most-heavily-populated counties in 1840 are excluded from the sample. Moreover, when counties located on the western frontier are excluded from the full sample, on the assumption that they were relatively far from their steady-state populations, there is evidence of population divergence.     

Inter‐state dynamics of invention activities, 1930–2000

We study the dynamics of the cross‐section distribution of patents per capita for the 48 continental US states from 1930 to 2000 using a discrete‐state Markov chain. We test for and find evidence in favor of the (knowledge) convergence hypothesis. The distribution of patents is converging to a limiting distribution that is significantly more concentrated than its initial distribution. States in the extreme are more mobile than states in the middle of the cross‐sectional distribution and are likely to move to the middle. However, the rate of convergence to the limiting distribution is ‘slow’. Copyright © 2006 John Wiley & Sons, Ltd.     

‘Weltoffenheit schafft Jobs’: Turkish entrepreneurship and multiculturalism in Berlin

This article investigates the connections between multiculturalism, unemployment and self–employment in the case of Berlin’s Turkish economy. It first describes five trends that are currently shaping German–Turks’ business activities: heterogeneity, hybridity, professionalism, internationalization and state interest. The consequences of these five trends are partly contradictory. On the one hand, they challenge the relevance of the ‘Turkish economy’ concept. On the other hand, they give an unprecedented respectability to the ‘Turkish economy’, thus popularizing this concept. The article argues that this contradiction should be interpreted as an outcome of the growing importance of multiculturalism in Germany’s relation to immigrants. Acknowledging the presence of immigrants has led to an emphasis on their high rate of self–employment, viewed as a possible solution to their unemployment and ‘integration’ problems. What emerges is the economic dimension of multiculturalism, i.e. an ideology that sees immigration and ethnic pluralism as economically positive. The article concludes by a critical analysis of this ideology. Cet article étudie les liens entre multiculturalisme, chômage et entreprise individuelle dans le cas de l’économie turque berlinoise. Il décrit d’abord cinq tendances qui configurent actuellement l’activitééconomique des Germano–turcs: hétérogénéité, hybridité, professionnalisme, internationalisation et intérêt de l’État. Les conséquences de ces cinq tendances sont en partie contradictoires. D’un côté, elles remettent en question le concept ‘d’économie turque’ et, de l’autre, elles lui offrent une respectabilité sans précédent, propageant ainsi le concept. Cette contradiction devrait être interprétée comme le résultat de l’importance croissante du multiculturalisme dans la relation de l’Allemagne à l’égard des immigrants. Reconnaître la présence d’immigrés a conduit à souligner le rôle important des entrepreneurs, considérés comme une solution possible à leurs problèmes de chômage et ‘d’intégration’. Est ainsi révélée la dimension économique du multiculturalisme, c’est–à–dire une idéologie qui voit l’immigration et le pluralisme ethnique comme économiquement positifs. La conclusion expose une analyse critique de cette idéologie.     

Bank competition,concentration and financial stability in the Turkish banking industry

This paper analyzes the impact of competition and concentration on bank stability in the Turkish banking industry over the period 2002–2012. The Boone indicator and the efficiency-adjusted Lerner index are used as proxies for competition, while the non-performing loans (NPL) ratio and Z-scores are used as proxies for bank stability. The main results indicate that competition is negatively related to the NPL ratio but positively related to the Z-score. The results further indicate that greater concentration has a positive impact on the NPL and a negative impact on the Z-score. We also use a quadratic term of the competition measures to capture a possible non-linear relationship between competition and stability. The results show that the coefficient of the quadratic term is negative for the NPL model and positive for the Z-score model. Overall, our findings provide support for the competition-fragility view.