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Öğe Boosting Energy Efficiency in Turkey: The Role of Public-Private Partnership Investment(MDPI, ST ALBAN-ANLAGE 66, CH-4052 BASEL, SWITZERLAND, 2023) Balcilar, Mehmet; Uzuner, Gizem; Nwani, Chinazaekpere; Bekun, Festus VictorThis study draws motivation from the United Nations Sustainable Development Goals (7.8.11), which highlight pertinent issues across the globe, among which are access to energy, responsible consumption, and sustainable development. To this end, we explored the pivotal role of public–private partnerships (PPP) investment in energy in Turkey, which is currently on an aggressive trajectory for its energy mix to energy efficiency. To avoid omitted variable bias in econometric strategies, we controlled for vital macroeconomic indicators such as foreign direct investment (FDI), trade flow, and economic growth. Empirical results showed a long-run equilibrium relationship between the outlined variables as traced by the autoregressive distributed lag (ARDL) bounds test. Subsequently, we observed a positive relationship between public–private partnership (PPP) investment in energy and the country’s energy intensification in both the short and long runs. A similar trend was observed between FDI, GDP growth, and energy intensity. These outcomes have inherent policy caveats for the Turkish energy sector and economic trajectory. Policy implications include efficient investment in clean energy (renewables) as part of Turkey’s effort toward energy intensification to guarantee sustainable development. Additionally, the involvement of PPP is a welcome dimension for sustainable economic growth. Further insights are documented in the concluding remarks.Öğe Housing price uncertainty and housing prices in the UK in a time-varying environment(SPRINGER, VAN GODEWIJCKSTRAAT 30, 3311 GZ DORDRECHT, NETHERLANDS, 2023) Balcilar, Mehmet; Uzuner, Gizem; Bekun, Festus Victor; Wohar, Mark E.This study ofers a new perspective on the dynamic causal relationship between housing price uncertainty and housing prices in a time-varying environment for the UK for the frst time in the literature. This study aims to investigate whether housing market uncertainty has any time-varying efect on housing prices between 1998:Q1 and 2019:Q2. A key distinction of this study is the use of a news-based housing price uncertainty index. This index measures uncertainty pertaining especially to the housing market in the UK. To this end, we include two main classes using timevarying parameter, rolling estimation and recursive rolling estimation for robustness analysis. Furthermore, we add economic policy uncertainty into the models to see whether housing market uncertainty has predictive power after controlling for economic policy uncertainty because housing market uncertainty may be largely driven by economic policy uncertainty and key macro-economic indicators. It turns out that there is a part of housing market uncertainty beyond economic policy uncertainty that helps to predict housing prices in UK. These outcomes are reinforced by the results of time-varying Granger causality tests that real housing price index is largely driven by the housing price uncertainty index. Furthermore, it is found that the uncertainty variables have a negative impact on real housing prices. This position calls for insolation in the housing market in UK from externalities such as housing price uncertainty.Öğe Spillover dynamics across price inflation and selected agricultural commodity prices(Springer, 2020) Balcilar, Mehmet; Bekun, Festus VictorThis article contributes to the existing empirical literature by examining the spillovers across price inflation and agricultural commodity prices for the case of Nigeria. To achieve this objective, we employ the Diebold and Yilmaz (Int J Forecast 28(1):57–66, 2012) spillover index. Subsequently, we examine the directional spillover, total spillover, and net spillover indexes. Further analysis to capture cyclical and secular movements was addressed with 40 months of subsamples via the rolling window analysis. Our empirical results, based on the monthly frequency data from January 2006 to July 2016 show that the total spillover effect was about 75%. This suggests a high interconnectedness of the selected agricultural commodity prices and inflation. Further empirical findings shows that inflation, sorghum, soybeans, and wheat were net receivers while cocoa, barley, groundnut, maize, rice were net givers. We find a negative net spillover for price inflation, implying a net positive spillover from commodity prices to price inflation. Based on these outcomes, several inherent policy implications for the government administrators, farmers, investors and all stakeholders abound. For instance, the need for government officials to insulate the agricultural market from externalities for optimum prices stability is pertinent. © 2020, The Author(s).