64 10 3494 https://omeka.ibu.edu.ba/files/original/0228d5f1f9a6fcf094b9fd607e4f6683.docx 00e5a5d2b728ed6fde04604852c274cd https://omeka.ibu.edu.ba/files/original/788bb2335d8a97214054c44ea55897c5.pdf c9bea74c16ec264d229e7f5113aa3f9e PDF Text Text The Role of Behavioral Economics in B&H; Does Remittances and Foreign Aid Have Adverse Effect on Economic Development? Aida Soko University of Sarajevo Bosnia and Herzegovina aidasba@hotmail.com Abstracts: Although the behavioral economics is subject of interest for over 50 years, it becomes fashionable again, as result of global crisis, to reassess the influence of irrational factors to economic development. B&H is exposed to constant crisis regardless to global one and it is hard to find rational explanations for many developments. At the same time there is no enough empirical findings and researches that would offer quantification of irrationality as well as intensity and correlation between some „usual suspects“ among variables that may have impact on economic development path. Generally speaking, B&H is not the only country that has complex administrative set up, even in regional terms. There are number of more developed countries that made such decisions on pure political basis still being very efficient in economic sense. B&H is also not only transition country that has to pass through structural reforms and make full turnover from economy reliance on big socialist companies to market economy based on smaller scale private ownership. There are rational rules of economic models, there are experiences of transition countries, there are lessons learnt on how the political issues can be solved on still economically efficient way, so why the Bosnian case is so specific? Are there rational reasons or we shall seek for other type of explanations?Behavioral economics as a combination of psychology and economy aiming to find answers on market functioning in conditions where market players are exposed to limited human resources and there are specific complications in place. Well, this is precise and effective description of B&H market: the lack of entrepreneurial tradition combined with complex transition process and relatively low level of foreign direct investments that may be a shortcut in knowledge transfer. In identifying specifics aspects of behavioral economics and its impact on economic development in BiH qualitative and quantitative analysis of different aspects of the research problem has been done. It includes desk analysis of relevant literature, articles and papers, a comparative analysis of selected (comparable) developing and transition countries, analysis of interrelations between remittances and donor funds as dependent variable and economic indicators (GDP per capita, FDI inflows per capita) as independent variables. Theories used include Prospect theory, Disruptive Theory and Leapfrogging concept, while correlation and regression analysis of remittances / grants and economic development indicators are used in data analysis.Specifically, among developing and transition countries, those having major investors in private sector among domestic or neighboring countries have slower economic growth. In particular case of B&H, private sector development is in addition restricted by public sector dominance.The research therefore confirmed reverse relationship between grant funds and remittances and economic development, giving a valuable input in BiH context and need of public sector reform as a tool to boost private sector development. Keywords: Behavioral economics, B&H, Public sector, Private sector, Economic development. 79 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 2514 Title A name given to the resource The Role of Behavioral Economics in B&H; Does Remittances and Foreign Aid Have Adverse Effect on Economic Development? Author Author SOKO, Aida Abstract A summary of the resource. Although the behavioral economics is subject of interest for over 50 years, it becomes fashionable again, as result of global crisis, to reassess the influence of irrational factors to economic development. B&H is exposed to constant crisis regardless to global one and it is hard to find rational explanations for many developments. At the same time there is no enough empirical findings and researches that would offer quantification of irrationality as well as intensity and correlation between some „usual suspects“ among variables that may have impact on economic development path. Generally speaking, B&H is not the only country that has complex administrative set up, even in regional terms. There are number of more developed countries that made such decisions on pure political basis still being very efficient in economic sense. B&H is also not only transition country that has to pass through structural reforms and make full turnover from economy reliance on big socialist companies to market economy based on smaller scale private ownership. There are rational rules of economic models, there are experiences of transition countries, there are lessons learnt on how the political issues can be solved on still economically efficient way, so why the Bosnian case is so specific? Are there rational reasons or we shall seek for other type of explanations?Behavioral economics as a combination of psychology and economy aiming to find answers on market functioning in conditions where market players are exposed to limited human resources and there are specific complications in place. Well, this is precise and effective description of B&H market: the lack of entrepreneurial tradition combined with complex transition process and relatively low level of foreign direct investments that may be a shortcut in knowledge transfer. In identifying specifics aspects of behavioral economics and its impact on economic development in BiH qualitative and quantitative analysis of different aspects of the research problem has been done. It includes desk analysis of relevant literature, articles and papers, a comparative analysis of selected (comparable) developing and transition countries, analysis of interrelations between remittances and donor funds as dependent variable and economic indicators (GDP per capita, FDI inflows per capita) as independent variables. Theories used include Prospect theory, Disruptive Theory and Leapfrogging concept, while correlation and regression analysis of remittances / grants and economic development indicators are used in data analysis.Specifically, among developing and transition countries, those having major investors in private sector among domestic or neighboring countries have slower economic growth. In particular case of B&H, private sector development is in addition restricted by public sector dominance.The research therefore confirmed reverse relationship between grant funds and remittances and economic development, giving a valuable input in BiH context and need of public sector reform as a tool to boost private sector development. Keywords: Behavioral economics, B&H, Public sector, Private sector, Economic development. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2014-04-24 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 H Social Sciences (General) https://omeka.ibu.edu.ba/files/original/f98d81120464e9f7e58bd6c6ce065878.docx 07dfd87f6095334eb80376181ea1b6ec https://omeka.ibu.edu.ba/files/original/b8236c442e40844bf293b8eeae78c145.pdf dab3ba99cb1bf0d9152633bdf1140b7f PDF Text Text Research of the Psychological Factors That Have Influence on Consumer Behavior Sandra SočeKraljević Sveučilište u Mostaru, Ekonomskifakultet Bosnia And Herzegovina sandra.soce-kraljevic@sve-mo.ba MarijaBrekalo Bosnia And Herzegovina maja.brekalooo@gmail.com Abstract: Psychological factors are an interesting area of research because they are "hidden", they cannot be seen, and so we do not know how they act on consumers. This research was necessary to determine whether psychological factors (motivation, perception, learning, beliefs and attitudes) have influence on the behavior of consumers when they choose retail trade or on creation of satisfied and loyal customers. For each of the psychological factors have created a different claims that relate on the most common factors based on which consumers make decisions about the choice of retail stores.As a key factor that affects the choice of retailing and the consumer satisfaction singled out the kindness and helpfulness of the sales staff inside the retail trade. It is surprising that prices are only fourth of the factors based on which consumers choose retail. In recent years, it was a lot of talk about the global crisis, unemployment, and one would expect that the price be in the first place. But that just shows that the quality of service is necessary to considered as the source of competitive advantage.Aim of the owners should be building a relationship of trust with consumers. Their interests should be viewed as interests of partners in achieving success.Research has shown that consumer satisfaction results in their return again to retail and sharing positive experiences on family, friends, and acquaintances.Satisfied consumers are generally becoming loyal consumers and the retail trades with them have no fear that they will cross the competition. Keywords: psychological factors, consumer behavior, satisfaction, loyalty, retail. 193 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 2568 Title A name given to the resource Research of the Psychological Factors That Have Influence on Consumer Behavior Author Author Sandra Soče , KRALJEVIĆ Marija, BREKALO Abstract A summary of the resource. Psychological factors are an interesting area of research because they are "hidden", they cannot be seen, and so we do not know how they act on consumers. This research was necessary to determine whether psychological factors (motivation, perception, learning, beliefs and attitudes) have influence on the behavior of consumers when they choose retail trade or on creation of satisfied and loyal customers. For each of the psychological factors have created a different claims that relate on the most common factors based on which consumers make decisions about the choice of retail stores.As a key factor that affects the choice of retailing and the consumer satisfaction singled out the kindness and helpfulness of the sales staff inside the retail trade. It is surprising that prices are only fourth of the factors based on which consumers choose retail. In recent years, it was a lot of talk about the global crisis, unemployment, and one would expect that the price be in the first place. But that just shows that the quality of service is necessary to considered as the source of competitive advantage.Aim of the owners should be building a relationship of trust with consumers. Their interests should be viewed as interests of partners in achieving success.Research has shown that consumer satisfaction results in their return again to retail and sharing positive experiences on family, friends, and acquaintances.Satisfied consumers are generally becoming loyal consumers and the retail trades with them have no fear that they will cross the competition. Keywords: psychological factors, consumer behavior, satisfaction, loyalty, retail. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2014-04-24 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 H Social Sciences (General) https://omeka.ibu.edu.ba/files/original/1111db7abf7fcb14e258c19bf7a8ddba.docx e443b7668ebca4ae8ac3eb673780fc6c Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 2563 Title A name given to the resource Competition in the Albanian Market Author Author Sonila, GRUDA Abstract A summary of the resource. It is a fact that Albania was the last country in Eastern Europe, which began the implementation of the free market principles after 90s. So, at the beginning of the transition, the so named competition was an inevitable phenomenon of the new market even the actions that flow from it, were new to the Albanians. In the economic terms, the competition received comprehensive treatment in social life, as the previous system, generally, excluded the market from the spheres of competitiveness because Albanian market had a leading role played by the state. As the other countries of the Western Balkans region, involved in the process of European integration, the culture of competition remains a challenge for Albania. In general, the structures for the protection of competition in developing countries are at similar stages to the creation or strengthening of national competition authorities and the legal framework that applies in this area, there is a high level approach to European legislation. Little experience in the early stages, insufficient knowledge of the legal framework of market players, lack of education with the concepts of competition, difficulties of consolidating national competition authorities and incomplete enforcement of the law, remain common problems of competition authorities for developing countries. Precisely these problems pose major challenges for solutions in the way of integration of Albania into the European Union. Implementation of the legal framework for competition, deepening the independence and accountability of the institution of the Competition Authority, the awareness of market participants with the principle that competition means economic prosperity, supported by the strong inter-agency cooperation and a greater transparency public, are the main pillars of national policy document on competition. Based on the problems noticed for the absence of the legal actors on the market this project proposal analyses the necessary competition policies, economic conditions in which it is developed the actual competition law and competition policy in Albania. The main questions raised will be: what are the direct and indirect influences of the unfair competition? Which sectors face significant problems to compete the market and why? What is the innovation level and how it helps the business to become successful in Albania? Basically the research is based on the annual reports and significant studies of Ministry of Finance and many researched made by NGO’s for the region. Keywords: Economic indicators, innovation, competition analysis, sector analysis. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2014-04-24 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 H Social Sciences (General) https://omeka.ibu.edu.ba/files/original/45673dd0ade8f0ec6e9e9926585ba5c4.docx e35c4d831aebb00a05573b4b0c9b7a2f https://omeka.ibu.edu.ba/files/original/b8b1ae91327426e7a1a1c95b13093f78.pdf 2266b5a64967ad733649d784e0c59e3e PDF Text Text Effects of Government Incentives in the Tourism Industry and the Case of Turkey Yusuf TugrulKaraaslan Dumlupinar University, Turkey yusufkaraaslan@gmail.com Ismail Sahin CanakkaleOnsekiz Mart University, Turkey akademi06@hotmail.com Abstract: According to World Tourism Organization (UNWTO) Turkey is currently the 6th most attractive tourism destination in the world. In year 2014 Turkey is expecting 38 million tourists and about $ 35 billion of revenue. Objective for 2023 is 50 million tourists and $ 50 billion of revenue. But the country is facing challenges in acquiring same success in terms of the receipts per arrival. To maximize the revenue per arrival government is planning to boost the sector by diversifying with innovative branches just as agro-tourism, geo-tourism, culinary, cultural, extreme, heritage, medical, wellness nautical, religion, slum, wildlife tourism. Government incentives and support provided to tourism industry has an important contribution in development of tourism sector. Turkish government reveals abundant incentives for the industry that can be seen by evaluating the world statistics throughout the global outlooks. Government incentives for the tourism sector are becoming increasingly important and urgent in the context of globalization. The reason of this importance comes from the power of the sector’s contribution on the balance of payments. Main objective of this article is to emphasize; the changing structure of the sector in the last thirty years and the need for the government incentives in the tourism industry development. Keywords:Tourism,intervals, government incentives, tourism promotion, tourism investments, world tourism, tourism statistics. 95 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 2549 Title A name given to the resource Effects of Government Incentives in the Tourism Industry and the Case of Turkey Author Author TUGRUL KARAASLAN, Yusuf SAHIN, Ismail Abstract A summary of the resource. According to World Tourism Organization (UNWTO) Turkey is currently the 6th most attractive tourism destination in the world. In year 2014 Turkey is expecting 38 million tourists and about $ 35 billion of revenue. Objective for 2023 is 50 million tourists and $ 50 billion of revenue. But the country is facing challenges in acquiring same success in terms of the receipts per arrival. To maximize the revenue per arrival government is planning to boost the sector by diversifying with innovative branches just as agro-tourism, geo-tourism, culinary, cultural, extreme, heritage, medical, wellness nautical, religion, slum, wildlife tourism. Government incentives and support provided to tourism industry has an important contribution in development of tourism sector. Turkish government reveals abundant incentives for the industry that can be seen by evaluating the world statistics throughout the global outlooks. Government incentives for the tourism sector are becoming increasingly important and urgent in the context of globalization. The reason of this importance comes from the power of the sector’s contribution on the balance of payments. Main objective of this article is to emphasize; the changing structure of the sector in the last thirty years and the need for the government incentives in the tourism industry development. Keywords:Tourism,intervals, government incentives, tourism promotion, tourism investments, world tourism, tourism statistics. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2014-04-24 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 H Social Sciences (General) https://omeka.ibu.edu.ba/files/original/1859bc9c0ba498d34bcebbbb1bd07a29.docx a9447eb7fba2f290e48dcd65d83206ea https://omeka.ibu.edu.ba/files/original/fed4fd4f17897038db42123e7314e28d.pdf cdc15821d76e4ceab9e601faecb1856e PDF Text Text The Driving Forces behind Albania’s Growth GüngörTuran Epoka University Albania gturan@epoka.edu.al ÇeljetaSherifi Epoka University Albania celjetasherifi@gmail.com Abstract: This paper examines the determinants of the Albanian economic growth that occurred from 2002-2012. We have explored, first, the time series properties of the growth rates of gross domestic product and labor productivity with an extended battery of unit-root tests. Then, in a multivariate setting, we use the VAR model methodology to provide evidence that physical and human capital accumulation, R&D expenditure, openness and competitiveness are the main drivers of output, labor productivity and total factor productivity growth in the long run. Keywords: growth, Solow model, VAR methodology, Albania. 56 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 2486 Title A name given to the resource The Driving Forces behind Albania’s Growth Author Author TURAN, Güngör SHERIFI, Çeljeta Abstract A summary of the resource. This paper examines the determinants of the Albanian economic growth that occurred from 2002-2012. We have explored, first, the time series properties of the growth rates of gross domestic product and labor productivity with an extended battery of unit-root tests. Then, in a multivariate setting, we use the VAR model methodology to provide evidence that physical and human capital accumulation, R&D expenditure, openness and competitiveness are the main drivers of output, labor productivity and total factor productivity growth in the long run. Keywords: growth, Solow model, VAR methodology, Albania. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2014-04-24 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 H Social Sciences (General) https://omeka.ibu.edu.ba/files/original/e76022707feefdf4c90e9d05b9daa4dd.docx 27fd0b2bd2dfd96474d6830a4d8512b8 https://omeka.ibu.edu.ba/files/original/860906eb288f3e0366931ea2dba4e00a.pdf 2897b2bb3504b7ba91a2e50aa7603b57 PDF Text Text A View to the Short and Long Run Dynamic Relationship between Crude Oil and the Major Asset Classes Ibrahim Turhan Borsa Istanbul Turkey ErkHacihasanoglu Borsa Istanbul Turkey erk.hacihasanoglu@borsaistanbul.com AhmetSensoy Borsa Istanbul Turkey KevserOzturk Borsa Istanbul Turkey Abstract: Using DCC-MIDAS model, we analyze the time-varying correlations between crude oil and the major asset classes by taking into account both long and short term components. Next, the structural changes in the long term correlation components are determined by a novel methodology of penalized contrast functions, and the robustness of the results is checked with Markov switching regressions. We reveal that there is a strong positive (negative) secular trend toward higher correlation magnitudes across crude oil and gold (dollar index) over our sample time period. On the other hand, the increase toward higher positive correlation levels between crude oil-stock market and crude oil-bond market occur in a near-instantaneous fashion after the 2008 global financial crisis. In particular, the structural changes in the long term correlations are observed around April-May 2009. Following Fed's tapering signals in 2013, we observe a significant rise in crude oil-dollar index correlation for both short and long run components. Such a situation might indicate the reversion of the relationship between these two markets to pre-crisis status. Keywords: DCC-MIDAS; crude oil; interest rate; exchange rate; stock market; gold. 92 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 2546 Title A name given to the resource A View to the Short and Long Run Dynamic Relationship between Crude Oil and the Major Asset Classes Author Author TURHAN, Ibrahim HACIHASANOGLU, Erk SENSOY, Ahmet OZTURK, Kevser Abstract A summary of the resource. Using DCC-MIDAS model, we analyze the time-varying correlations between crude oil and the major asset classes by taking into account both long and short term components. Next, the structural changes in the long term correlation components are determined by a novel methodology of penalized contrast functions, and the robustness of the results is checked with Markov switching regressions. We reveal that there is a strong positive (negative) secular trend toward higher correlation magnitudes across crude oil and gold (dollar index) over our sample time period. On the other hand, the increase toward higher positive correlation levels between crude oil-stock market and crude oil-bond market occur in a near-instantaneous fashion after the 2008 global financial crisis. In particular, the structural changes in the long term correlations are observed around April-May 2009. Following Fed's tapering signals in 2013, we observe a significant rise in crude oil-dollar index correlation for both short and long run components. Such a situation might indicate the reversion of the relationship between these two markets to pre-crisis status. Keywords: DCC-MIDAS; crude oil; interest rate; exchange rate; stock market; gold. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2014-04-24 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 H Social Sciences (General) https://omeka.ibu.edu.ba/files/original/1e375222e663391919875bb1be9283e3.docx b1d6c4314a3bbaeaa9cc943269a86b2a https://omeka.ibu.edu.ba/files/original/57548e2f0ddff57fdd73ade04f6dc7fe.pdf 242c5da9c355c6828bd1c6d2953b9a03 PDF Text Text The Determinants of Tourist Arrivals at NUTSIII Level in Turkey BurcuTürkcan Ege University Turkey burcu.turkcan@ege.edu.tr Abstract:Tourism is one of the key sectors in the regional economic growth and development. Especially countries, which have coastal areas, historical places and famous cultural events like Olympics, Carnivals, Film Festivals etc.- experience high tourism turnovers and hence some other macroeconomic benefits. Particularly, the typical kinds of these macroeconomic benefits that governments can expect from tourism include; earning foreign currency and making a positive contribution to the balance of payments; developing the services sector and contributing to the gross domestic product; attracting inward investment and income multiplier effects; and employment creation. Consequently, tourism has a key importance in both national and regional economies. By taking into account these macroeconomic impacts of tourism sector, the main aims of this study are to analyze the determinants of tourist arrivals at NUTSIII level in Turkey and to make policy recommendations for regional authorities in order to enhance tourism sector in their regions. In this respect, in the first section of this study, the role and importance of tourism sector in regional economic growth and development are explained and some key statistics about the issue are given. In the second section, a spatial panel data analysis is conducted for the period of 2000 - 2010 and the empirical results are interpreted. Lastly, in the third section, by following the empirical results, some policy recommendations for the regional administrations are made. This study makes some contributions to the related literature because of the fact that, to the best of our knowledge, this is the first study examining the determinants of tourist arrivals at NUTSIII level in Turkey by using spatial econometric methods. Keywords: Tourism, regional economics, spatial econometrics, Turkey 60 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 2495 Title A name given to the resource The Determinants of Tourist Arrivals at NUTSIII Level in Turkey Author Author TÜRKCAN, Burcu Abstract A summary of the resource. Tourism is one of the key sectors in the regional economic growth and development. Especially countries, which have coastal areas, historical places and famous cultural events -like Olympics, Carnivals, Film Festivals etc.- experience high tourism turnovers and hence some other macroeconomic benefits. Particularly, the typical kinds of these macroeconomic benefits that governments can expect from tourism include; earning foreign currency and making a positive contribution to the balance of payments; developing the services sector and contributing to the gross domestic product; attracting inward investment and income multiplier effects; and employment creation. Consequently, tourism has a key importance in both national and regional economies. By taking into account these macroeconomic impacts of tourism sector, the main aims of this study are to analyze the determinants of tourist arrivals at NUTSIII level in Turkey and to make policy recommendations for regional authorities in order to enhance tourism sector in their regions. In this respect, in the first section of this study, the role and importance of tourism sector in regional economic growth and development are explained and some key statistics about the issue are given. In the second section, a spatial panel data analysis is conducted for the period of 2000 - 2010 and the empirical results are interpreted. Lastly, in the third section, by following the empirical results, some policy recommendations for the regional administrations are made. This study makes some contributions to the related literature because of the fact that, to the best of our knowledge, this is the first study examining the determinants of tourist arrivals at NUTSIII level in Turkey by using spatial econometric methods. Keywords: Tourism, regional economics, spatial econometrics, Turkey Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2014-04-24 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 H Social Sciences (General) https://omeka.ibu.edu.ba/files/original/2a331a9a02aadee22c5bee0f755af5cc.docx 4c337ed668b99c58631c7e2867db8919 https://omeka.ibu.edu.ba/files/original/e72e51499c34cb1c6b261792eadf08a1.pdf 326ecbaa1a924589bde58290835cff33 PDF Text Text Crisis of the European Union and its Effects on the EU Enlargement Policy: Case of Western Balkans HaticeYazgan CankiriKaratekin University Turkey yazganhatice@hotmail.com Abstract: European Union (EU) Enlargement is identified as a successful tool for the EU in order to enhance economic and security benefits as well as to Europeanize the prospective members. Despite its achievements until now, enlargement have also some negative repercussions since the enlargement process gives rise to exceeding burden to the EU budget, institutions and some key policies in the short term. Current economic crisis of the EU, along with its political and social impacts add another dimension to the challenges of enlargement. Today Western Balkan countries, Turkey and Iceland are the countries involved in the future enlargements. Main aim of this paper is to analyse the impact of the EU crisis on the enlargement of the EU in general and on Western Balkans in particular. Although the EU enlargement process continues officially, current economic crisis has negatively affected the process. On the one hand, the EU with an ongoing crisis lost some attractiveness for the candidates and on the other hand, its absorption/integration capacity has decreased in the sense that a new enlargement wave with burdensome candidates would not be feasible for the EU. Besides, the crisis deepened the North-South divide in the EU and thus Western Balkan countries will be mostly among the Southern part in terms of economic and social development. Bearing in mind the negative perception of the European public opinion towards EU enlargement which deepened with the crisis, EU needs more legitimacy in order to justify the Western Balkans Enlargement. Last but not the least, growing EU demand from the candidates as a result of the evolving enlargement conditionality through the years is the other factor affecting the future of enlargement. Main argument of this paper is; although the economic and political crises of the EU do not present favourable conditions for both sides, the EU already has the justification for Western Balkans’ Enlargement due to its geographic location “in” Europe and the EU’s ineffective position to prevent the violence during the wars of 1990s which will be reverted to an active position with enlargement. Keywords: Conditionality, Crisis, European Union Enlargement, Western Balkans 11 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 2435 Title A name given to the resource Crisis of the European Union and its Effects on the EU Enlargement Policy: Case of Western Balkans Author Author YAZGAN, Hatice Abstract A summary of the resource. European Union (EU) Enlargement is identified as a successful tool for the EU in order to enhance economic and security benefits as well as to Europeanize the prospective members. Despite its achievements until now, enlargement have also some negative repercussions since the enlargement process gives rise to exceeding burden to the EU budget, institutions and some key policies in the short term. Current economic crisis of the EU, along with its political and social impacts add another dimension to the challenges of enlargement. Today Western Balkan countries, Turkey and Iceland are the countries involved in the future enlargements. Main aim of this paper is to analyse the impact of the EU crisis on the enlargement of the EU in general and on Western Balkans in particular. Although the EU enlargement process continues officially, current economic crisis has negatively affected the process. On the one hand, the EU with an ongoing crisis lost some attractiveness for the candidates and on the other hand, its absorption/integration capacity has decreased in the sense that a new enlargement wave with burdensome candidates would not be feasible for the EU. Besides, the crisis deepened the North-South divide in the EU and thus Western Balkan countries will be mostly among the Southern part in terms of economic and social development. Bearing in mind the negative perception of the European public opinion towards EU enlargement which deepened with the crisis, EU needs more legitimacy in order to justify the Western Balkans Enlargement. Last but not the least, growing EU demand from the candidates as a result of the evolving enlargement conditionality through the years is the other factor affecting the future of enlargement. Main argument of this paper is; although the economic and political crises of the EU do not present favourable conditions for both sides, the EU already has the justification for Western Balkans’ Enlargement due to its geographic location “in” Europe and the EU’s ineffective position to prevent the violence during the wars of 1990s which will be reverted to an active position with enlargement. Keywords: Conditionality, Crisis, European Union Enlargement, Western Balkans Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2014-04-24 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 H Social Sciences (General) https://omeka.ibu.edu.ba/files/original/41bde11543734a9c0dde2ed4d8dba79c.docx 13e7791337f8776ed174225c96df6c20 https://omeka.ibu.edu.ba/files/original/392bbbfd53666b4f0508bace902dedf2.pdf eeee60b3c1c76c1dcadc2f03be29a922 PDF Text Text Harnessing Private Sector Growth for Inclusive Development Mohamed Zulkhibri Islamic Development Bank Saudi Arabia khibri1974@yahoo.com Abstract: The study examines the role of private sector for inclusive development based on descriptive qualitative analysis using secondary data and various key economic indicators for private sector with respect to inclusive development, among others are poverty, inclusive growth, investment, job creations, education, and infrastructure. By simple definition, private sector constitutes a broader term covering all private actors engaged in economic activity, from the small market seller and farmer to large domestic and foreign corporations. The private sector consists of more than formal businesses or corporation, even though many discussions have tempted to concentrate on the role of multinational corporations (MNCs) or large corporations. The study argues that private firms can play a vital role in enhancing inclusive growth prospects as investors, employers and creators of new and upgraded productive potential. Private sector activity matters for growth as well as its quality, sustainability and inclusiveness. In most countries, the private sector is the major component of national income and the major employer and creator of jobs. The pace of job growth and the quality of employment in the private sector are thus central to development. A vibrant private sector also contributes to higher wages. The financial sector is seen as playing a crucial role in economic growth by mobilizing savings, facilitating payments and trade of goods and services and promoting efficient allocation of resources. The qualitative analysis suggests that private firms can play a vital role in enhancing inclusive growth prospects given their ability to create new and higher value productive capacity. The capability of firms to launch new export products and raise product quality generates higher profitability and productive potential with spill over benefits to other firms and industries. However, private sector activity per se does not automatically result in equality of opportunity across individuals and firms. It has been very thoughtful to many of countries towards „Inclusive Business Models‟. This includes facilitating these various actors to come together in public-private collaboration to build “inclusive markets” and sectorspecific strategies. Keywords: private sector; inclusive development; poverty reduction 55 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 2485 Title A name given to the resource Harnessing Private Sector Growth for Inclusive Development Author Author ZULKHIBRI, Mohamed Abstract A summary of the resource. The study examines the role of private sector for inclusive development based on descriptive qualitative analysis using secondary data and various key economic indicators for private sector with respect to inclusive development, among others are poverty, inclusive growth, investment, job creations, education, and infrastructure. By simple definition, private sector constitutes a broader term covering all private actors engaged in economic activity, from the small market seller and farmer to large domestic and foreign corporations. The private sector consists of more than formal businesses or corporation, even though many discussions have tempted to concentrate on the role of multinational corporations (MNCs) or large corporations. The study argues that private firms can play a vital role in enhancing inclusive growth prospects as investors, employers and creators of new and upgraded productive potential. Private sector activity matters for growth as well as its quality, sustainability and inclusiveness. In most countries, the private sector is the major component of national income and the major employer and creator of jobs. The pace of job growth and the quality of employment in the private sector are thus central to development. A vibrant private sector also contributes to higher wages. The financial sector is seen as playing a crucial role in economic growth by mobilizing savings, facilitating payments and trade of goods and services and promoting efficient allocation of resources. The qualitative analysis suggests that private firms can play a vital role in enhancing inclusive growth prospects given their ability to create new and higher value productive capacity. The capability of firms to launch new export products and raise product quality generates higher profitability and productive potential with spill over benefits to other firms and industries. However, private sector activity per se does not automatically result in equality of opportunity across individuals and firms. It has been very thoughtful to many of countries towards ‘Inclusive Business Models’. This includes facilitating these various actors to come together in public-private collaboration to build “inclusive markets” and sector-specific strategies. Keywords: private sector; inclusive development; poverty reduction Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2014-04-24 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 H Social Sciences (General) https://omeka.ibu.edu.ba/files/original/372ef44da3b07999c2078cea2171031e.docx a61009ebe7d183e75477ca18623a5bad https://omeka.ibu.edu.ba/files/original/1becc88819bfc408443f12ebdc8df826.pdf 8b7ee0f7f324f5595a36de480e30a514 PDF Text Text Are Islamic Banks More Effective than Conventional Banks for Turkey’s Development? GönülÇifçi Adiyaman University Turkey cifcigonul@gmail.com SaadettinPaksoy Kilis 7 Aralik University Turkey spaksoy@kilis.edu.tr Abstract: Islamic banks are so popular nowadays, while many people had preferred to stay far in the past. Even to World’s first and foremost conventional banks have new departments related to Islamic banking. Essentially, Islamic banking is similar to conventional banking in many areas but all rules about transactions, services but interest is pivot of conventional banking. That is why some Muslims had hesitation to make investments in banking systems. In that perspective, Islamic banking fulfilled many people’s investment desire. Are Islamic banks more effective than conventional banks for development with Islamic bank’s remarkable performance and ability to generate high volume in Islam countries like Indonesia and Malaysia? Or that success is just a coincidence? We will seek that questions’ answer by examining Islamic and conventional banks in Turkey. Key Words: Islamic Banking, Conventional Banking, Turkey, Development. 62 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 2496 Title A name given to the resource Are Islamic Banks More Effective than Conventional Banks for Turkey’s Development? Author Author ÇIFÇI, Gönül PAKSOY, Sadettin Abstract A summary of the resource. Islamic banks are so popular nowadays, while many people had preferred to stay far in the past. Even to World’s first and foremost conventional banks have new departments related to Islamic banking. Essentially, Islamic banking is similar to conventional banking in many areas but all rules about transactions, services but interest is pivot of conventional banking. That is why some Muslims had hesitation to make investments in banking systems. In that perspective, Islamic banking fulfilled many people’s investment desire. Are Islamic banks more effective than conventional banks for development with Islamic bank’s remarkable performance and ability to generate high volume in Islam countries like Indonesia and Malaysia? Or that success is just a coincidence? We will seek that questions’ answer by examining Islamic and conventional banks in Turkey. Key Words: Islamic Banking, Conventional Banking, Turkey, Development. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2014-04-24 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 H Social Sciences (General)