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                    <text>Variety of Capitalism in Turkey: A Comparative Institutional Analysis
BaharBaysal
Uludağ University
Turkey
bhrbysl@gmail.com
MikailKar
Uludağ University
Turkey

Abstract: With the collapse of communism, the question why national capitalist countries
have different economic performance has stimulated the emergence of the new comparative
political economy. This approach focuses on economic, social and political institutions and
organizations that account for this capitalist diversity. Political power which drives
institutional change is critical importance for understanding the formationof these institutions
and their consequences for wealth or income in parallel with public choice theory. This paper
emphasizes two assertions. First, even though advocates of neo-liberalism claim that all
nations convergence to a single development path, capitalism is a complex socio-economic
order that has developed at different places and times, so, secondly, apart from varieties of
capitalism which focus on advanced capitalist nations, there are rich variety of new forms of
capitalism which shaped by domestic and international structural forces in emerging market
economies. From this perspective, it is a comparative institutional approach.
In this context it aims to explain how Turkish capitalism has evolved from state capitalism to
a hybrid variety of capitalism in the neoliberal era. This clearly implies that there is a high
degree of continuity between the different policy phases. The coexistence of this continuity
and change points out the importance of institutional path dependency in development
process.
Keywords: varieties of capitalism, comparative political economy, institutions.

93

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KAR, Mikail</text>
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                <text>With the collapse of communism, the question why national capitalist countries have different economic performance has stimulated the emergence of the new comparative political economy. This approach focuses on economic, social and political institutions and organizations that account for this capitalist diversity. Political power which drives institutional change is critical importance for understanding the formationof these institutions and their consequences for wealth or income in parallel with public choice theory. This paper emphasizes two assertions. First, even though advocates of neo-liberalism claim that all nations convergence to a single development path, capitalism is a complex socio-economic order that has developed at different places and times, so, secondly, apart from varieties of capitalism which focus on advanced capitalist nations, there are rich variety of new forms of capitalism which shaped by domestic and international structural forces in emerging market economies. From this perspective, it is a comparative institutional approach.    In this context it aims to explain how Turkish capitalism has evolved from state capitalism to a hybrid variety of capitalism in the neoliberal era. This clearly implies that there is a high degree of continuity between the different policy phases. The coexistence of this continuity and change points out the importance of institutional path dependency in development process.    Keywords: varieties of capitalism, comparative political economy, institutions.</text>
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                    <text>The Impact of Job Satisfaction in Academic Job Advertisements in Turkish
State Funded Universities, the Case of Ege University
AhmetSalihİkiz
MuğlaSıtkıKoçman University
Turkey
ahmet@mu.edu.tr
Abstract: Academic recruitment is one of the main element works of University Boards. This
policy matches the departmental academic staff needs. And also increases internationality
recognition of universities with qualified staff. The academic position calls plays a vital role
in this process. Advertisement process monitored and organized by University Rectors in
State Universities in Turkey. That enables candidates to apply proper positions in Faculties.
That in turn improves their job satisfaction in organization. Ege University is one of the
biggest and oldest Universities in Turkey located in Izmir. In this study we first explain the
academic staff advertisement process in Ege University than explain job satisfaction of
applicants according to the findings of our survey. We applied a questionnaire to randomly
chosen recently appointed assistant professors in short interviews in order to evaluate their
satisfaction after the recruitment as academician in Ege University. The main aim was to see
and observe how much they satisfied in post appointment process in their academic life. The
main findings ensured that significant number of the sample group has satisfied with
academic environment after the recruitment. In this study findings of those questionnaires are
clearly explained.
That gave us insights about academic staff advertisements and
appointments impact on job satisfaction after the recruitment.
Keywords: Academic staff advertisement, Ege University.

188

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                <text>Academic recruitment is one of the main element works of University Boards.  This policy matches the departmental academic staff needs. And also increases internationality recognition of universities with qualified staff. The academic position calls plays a vital role in this process. Advertisement process monitored and organized by University Rectors in State Universities in Turkey. That enables candidates to apply proper positions in Faculties. That in turn improves their job satisfaction in organization. Ege University is one of the biggest and oldest Universities in Turkey located in Izmir. In this study we first explain the academic staff advertisement process in Ege University than explain job satisfaction of applicants according to the findings of our survey. We applied a questionnaire to randomly chosen recently appointed assistant professors in short interviews in order to evaluate their satisfaction after the recruitment as academician in Ege University. The main aim was to see and observe how much they satisfied in post appointment process in their academic life. The main findings ensured that significant number of the sample group has satisfied with academic environment after the recruitment. In this study findings of those questionnaires are clearly explained.   That gave us insights about academic staff advertisements and appointments impact on job satisfaction after the recruitment.   Keywords: Academic staff advertisement, Ege University.  </text>
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                    <text>Understanding Integrated Marketing Communication: Theory and
Application
Adnan Murad
International Burch University
Bosnia And Herzegovina
adnan.murad@live.com
Abstract: Integrated marketing communication (IMC) emerged as a concept in the late
twentieth century and its significance has been mounting ever since. Nowadays, companies
are necessitated by the intensity of competition to use integrated marketing communication
components in order to be effective. The primary purpose of this study is to understand the
modern dynamics of integrated marketing communication and craft a marketing
communication strategy for a small-sized beverage producing company Sokd.o.o. in Bosnia
and Herzegovina. The study focuses on defining what kind of communication activities the
company in the case requires in order to nurture its interaction with customers and increase
brand awareness. The application will be based on Schultz and Kitchen Model of integrated
marketing communication. The first part of research is primarily based on a qualitative study
of relevant marketing literature that delineates a comparison amid traditional and modern
marketing techniques. Subsequently, analyses of the company in case, product, segment and
marketing environment were carried out in order to augment the understanding of marketing
communication activities that could be used for Sokd.o.o. Customer feedback is also gathered
in order to illustrate the basic needs and requirements of consumers. The second part of the
research focuses on developing an integrated marketing communication plan based on
literature review, consumer feedback, interview with company personnel, and promotional
objectives. The findings of this study will help Sokd.o.o. to scrutinize current consumer needs,
potential consumer expectations, and present product position. This research will also
provide Sokd.o.o. with highly valuable tips and techniques to put into practice integrated
marketing communication campaign. On the whole, this research will open doors for future
research in the segment of integrated marketing communications in Bosnia and Herzegovina
with respect to small-sized firms.
Keywords:Integrated marketing communication, segment analysis, customer feedback,
consumer needs.

197

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                <text>Integrated marketing communication (IMC) emerged as a concept in the late twentieth century and its significance has been mounting ever since. Nowadays, companies are necessitated by the intensity of competition to use integrated marketing communication components in order to be effective. The primary purpose of this study is to understand the modern dynamics of integrated marketing communication and craft a marketing communication strategy for a small-sized beverage producing company Sokd.o.o. in Bosnia and Herzegovina. The study focuses on defining what kind of communication activities the company in the case requires in order to nurture its interaction with customers and increase brand awareness. The application will be based on Schultz and Kitchen Model of integrated marketing communication. The first part of research is primarily based on a qualitative study of relevant marketing literature that delineates a comparison amid traditional and modern marketing techniques. Subsequently, analyses of the company in case, product, segment and marketing environment were carried out in order to augment the understanding of marketing communication activities that could be used for Sokd.o.o. Customer feedback is also gathered in order to illustrate the basic needs and requirements of consumers. The second part of the research focuses on developing an integrated marketing communication plan based on literature review, consumer feedback, interview with company personnel, and promotional objectives. The findings of this study will help Sokd.o.o. to scrutinize current consumer needs, potential consumer expectations, and present product position. This research will also provide Sokd.o.o. with highly valuable tips and techniques to put into practice integrated marketing communication campaign. On the whole, this research will open doors for future research in the segment of integrated marketing communications in Bosnia and Herzegovina with respect to small-sized firms.  Keywords:Integrated marketing communication, segment analysis, customer feedback, consumer needs.  </text>
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                    <text>Barriers of Entry to Foreign Markets for Firms in Bosnia and Herzegovina
Adela Mujčinović
International Burch University
Bosnia And Herzegovina
adela_0101_m@hotmail.com
Teoman Duman
International Burch University
Bosnia And Herzegovina
teoman.duman@ibu.edu.ba

Abstract: Today exports are one of the most important factors for the development of global
and national economies. The main objective of the study is to identify difficulties experienced
by Bosnian companies when they enter into different global markets. Exports to foreign
countries involve numerous problems and present a high risk strategy. The company on which
I will be based in this study is "Alfe-Mi" company that specializes in selling products on the
domestic and foreign markets. Formulating a market entry strategy means that management
must decide which option or options to use in pursuing opportunities outside of the home
country. Export is one of the fastest ways of entering foreign markets. The field of export
marketing covers all those marketing activities involved when a firm markets its products
outside its main base of operation and when products are physically shipped from one market
of country or another. Difficulties faced by companies when entering the foreign market are:
religion,language,taxes,bureaucracy,political instability etc. The major challenges of export
marketing are the selection of appropriate markets or countries through marketing research,
the determination of appropriate product modification to meet the demand requirements of
export markets and the development of export channels through which the company can
market
its
products
abroad.
Primary data use in this study is direct interview with managers and employers in Alfe-Mi
Company. Secondary data use in this study is information and data were collected from books
and various websites to help me understand and analyze barriers when company exiting on
foreign markets. Other secondary data sources that were utilized are literature review from
the company brochure and textbooks. Results will show the main motive for „Alfe-Mi“to go
international is the level of demand for Alfe-Mi's products in foreign markets. When the
company entered the foreign market, it faces the barriers and finding a solution for the
difficulties. In order for the company to be able to adopt on the foreign market they have to
have unique product with flexible prices.
Keywords: Exporting, Foreign markets, Difficulties, International, Strategy.

194

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                <text>Adela, MUJČINOVIĆ
Teoman, DUMAN</text>
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                <text>Today exports are one of the most important factors for the development of global and national economies. The main objective of the study is to identify difficulties experienced by Bosnian companies when they enter into different global markets. Exports to foreign countries involve numerous problems and present a high risk strategy. The company on which I will be based in this study is "Alfe-Mi" company that specializes in selling products on the domestic and foreign markets. Formulating a market entry strategy means that management must decide which option or options to use in pursuing opportunities outside of the home country. Export is one of the fastest ways of entering foreign markets. The field of export marketing covers all those marketing activities involved when a firm markets its products outside its main base of operation and when products are physically shipped from one market of country or another. Difficulties faced by companies when entering the foreign market are: religion,language,taxes,bureaucracy,political instability etc. The major challenges of export marketing are the selection of appropriate markets or countries through marketing research, the determination of appropriate product modification to meet the demand requirements of export markets and the development of export channels through which the company can market its products abroad.  Primary data use in this study is direct interview with managers and employers in Alfe-Mi Company. Secondary data use in this study is information and data were collected from books and various websites to help me understand and analyze barriers when company exiting on foreign markets. Other secondary data sources that were utilized are literature review from the company brochure and textbooks. Results will show the main motive for „Alfe-Mi“to go international is the level of demand for Alfe-Mi's products in foreign markets. When the company entered the foreign market, it faces the barriers and finding a solution for the difficulties. In order for the company to be able to adopt on the foreign market they have to have unique product with flexible prices.    Keywords: Exporting, Foreign markets, Difficulties, International, Strategy.  </text>
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                    <text>The System Dynamics Model of Turkish Incentives in Cattle Livestock
Cihan AYIZ
Fatih University
Turkey
cihanayiz@yahoo.com
NizamettinBayyurt
Fatih University
Turkey
bayyurt@fatih.edu.tr

Abstract: The system dynamics of recent Turkish Incentives policy in cattle livestock is
analyzed and defined. These dynamics are useful to find a system’s stable and equilibrium
situations. In Turkish Incentive system, because of blow off the dynamics of Cattle Livestock
there is still no sustainable and stable policies. Turkish incentive system that is urgently needs
to be redesign and the optimum points through government livestock policies urgently needs
to be redefine is investigated. We methodologically used System Dynamics Modeling as a tool
which is widely used to define and simulate and analyze the systems to find the dynamics
those effects and are parts of the systems.
Keywords: cattle livestock, incentive, system dynamics.

96

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                <text>The system dynamics of recent Turkish Incentives policy in cattle livestock is analyzed and defined. These dynamics are useful to find a system’s stable and equilibrium situations. In Turkish Incentive system, because of blow off the dynamics of Cattle Livestock there is still no sustainable and stable policies. Turkish incentive system that is urgently needs to be redesign and the optimum points through government livestock policies urgently needs to be redefine is investigated. We methodologically used System Dynamics Modeling as a tool which is widely used to define and simulate and analyze the systems to find the dynamics those effects and are parts of the systems.    Keywords: cattle livestock, incentive, system dynamics.</text>
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                    <text>Peoples Motives in Utilizing the Freedom of Movement within the EU: The
Case of Kosovo and Visa Liberalization with the EU
Alban Asllani
AAB University
Albania
alban.asllani@universitetiaab.com
ShkumbinMisini
Universum College
Albania
shkumbin.misini@gmail.com
KujtimBytyqi
Universum College
Albania
kujtim.bytyqi@gmail.com
Abstract: This study intends to identify the main motives for travel of citizens from Kosovo to
the EU Member States once the visa liberalization takes place. The authors of this paper take
into account demographic information from the surveys handed out to citizens of Kosovo, and
try to correlate them with their motives for travel to the EU Member states. The study argues
that visa liberalization for Kosovo is of imperative importance in preparing Kosovo for EU
membership. The study also argues that citizens of Kosovo benefit substantially by creating
networks with professionals in the areas of research, technology, and education. These
networks could potentially lead to local businesses gaining from outsourcing, which would
overtime increase economic development of the country. However, the study’s focal point is
the analysis of the survey of Kosovo’s on how they would utilize the EU visa liberalization
regime, using descriptive, correlation, and regression analysis. The descriptive statistics and
simple correlation analysis show a strong negative correlation between employment status,
and work and study as a reason for visiting the EU member states after visa liberalization,
while there is strong positive correlation between employment status and business, tourism
and research as reasons for visiting the EU. Similarly, strong correlations have been found
between education level of the respondents and their age group as demographics in one side,
and work, study, tourism, doing business, and conducting research as reasons for visiting EU
after the visa liberalization regime is granted to Kosovo. By conducting such analysis, the
authors of this study expect to give an overview of the current situation in terms of economic
and socio-political implications regarding the visa liberalization, and the motives of Kosovo’s
in utilizing the visa liberalization regime based on the responses received from the
questionnaires.
Keywords: Demographics, Visa Liberalization, Mobility, Networking, people-to-people
contact, Motives for travel, Correlation analysis, reforms

46

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                <text>This study intends to identify the main motives for travel of citizens from Kosovo to the EU Member States once the visa liberalization takes place. The authors of this paper take into account demographic information from the surveys handed out to citizens of Kosovo, and try to correlate them with their motives for travel to the EU Member states. The study argues that visa liberalization for Kosovo is of imperative importance in preparing Kosovo for EU membership. The study also argues that citizens of Kosovo benefit substantially by creating networks with professionals in the areas of research, technology, and education. These networks could potentially lead to local businesses gaining from outsourcing, which would overtime increase economic development of the country. However, the study’s focal point is the analysis of the survey of Kosovo’s on how they would utilize the EU visa liberalization regime, using descriptive, correlation, and regression analysis. The descriptive statistics and simple correlation analysis show a strong negative correlation between employment status, and work and study as a reason for visiting the EU member states after visa liberalization, while there is strong positive correlation between employment status and business, tourism and research as reasons for visiting the EU. Similarly, strong correlations have been found between education level of the respondents and their age group as demographics in one side, and work, study, tourism, doing business, and conducting research as reasons for visiting EU after the visa liberalization regime is granted to Kosovo. By conducting such analysis, the authors of this study expect to give an overview of the current situation in terms of economic and socio-political implications regarding the visa liberalization, and the motives of Kosovo’s in utilizing the visa liberalization regime based on the responses received from the questionnaires.  Keywords: Demographics, Visa Liberalization, Mobility, Networking, people-to-people contact, Motives for travel, Correlation analysis, reforms</text>
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                    <text>The Motives of People in Utilizing the Freedom of Movement within the
EU: The Case of Kosovo and Visa Liberalization with the EU
Alban Asllani
AAB University, Kosovo
Albania
alban.asllani@universitetiaab.com
ShkumbinMisini
Universum College, Kosovo
Albania
shkumbin.misini@gmail.com
KujtimBytyqi
Universum College, Kosovo
Albania
kujtim.bytyqi@gmail.com

Abstract: This study intends to identify the main motives for travel of citizens from Kosovo to
the EU Member States once the visa liberalization takes place. The authors of this paper take
into account demographic information from the surveys handed out to citizens of Kosovo, and
try to correlate them with their motives for travel to the EU Member states. The study argues
that visa liberalization for Kosovo is of imperative importance in preparing Kosovo for EU
membership. The study also argues that citizens of Kosovo benefit substantially by creating
networks with professionals in the areas of research, technology, and education. These
networks could potentially lead to local businesses gaining from outsourcing, which would
overtime increase economic development of the country. However, the study’s focal point is
the analysis of the survey of Kosovars on how they would utilize the EU visa liberalization
regime, using descriptive, correlation, and regression analysis. The descriptive statistics and
simple correlation analysis show a strong negative correlation between employment status,
and work and study as a reason for visiting the EU member states after visa liberalization,
while there is strong positive correlation between employment status and business, tourism
and research as reasons for visiting the EU. Similarly, strong correlations have been found
between education level of the respondents and their age group as demographics in one side,
and work, study, tourism, doing business, and conducting research as reasons for visiting EU
after the visa liberalization regime is granted to Kosovo. By conducting such analysis, the
authors of this study expect to give an overview of the current situation in terms of economic
and socio-political implications regarding the visa liberalization, and the motives of Kosovars
in utilizing the visa liberalization regime based on the responses received from the
questionnaires.
Keywords: Demographics, Visa Liberalization, Mobility, Networking, people-to-people
contact, Motives for travel, Correlation analysis, reforms
7

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                <text>Abstract: This study intends to identify the main motives for travel of citizens from Kosovo to the EU Member States once the visa liberalization takes place. The authors of this paper take into account demographic information from the surveys handed out to citizens of Kosovo, and try to correlate them with their motives for travel to the EU Member states. The study argues that visa liberalization for Kosovo is of imperative importance in preparing Kosovo for EU membership. The study also argues that citizens of Kosovo benefit substantially by creating networks with professionals in the areas of research, technology, and education. These networks could potentially lead to local businesses gaining from outsourcing, which would overtime increase economic development of the country. However, the study’s focal point is the analysis of the survey of Kosovars on how they would utilize the EU visa liberalization regime, using descriptive, correlation, and regression analysis. The descriptive statistics and simple correlation analysis show a strong negative correlation between employment status, and work and study as a reason for visiting the EU member states after visa liberalization, while there is strong positive correlation between employment status and business, tourism and research as reasons for visiting the EU. Similarly, strong correlations have been found between education level of the respondents and their age group as demographics in one side, and work, study, tourism, doing business, and conducting research as reasons for visiting EU after the visa liberalization regime is granted to Kosovo. By conducting such analysis, the authors of this study expect to give an overview of the current situation in terms of economic and socio-political implications regarding the visa liberalization, and the motives of Kosovars in utilizing the visa liberalization regime based on the responses received from the questionnaires.    Keywords: Demographics, Visa Liberalization, Mobility, Networking, people-to-people contact, Motives for travel, Correlation analysis, reforms  </text>
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                    <text>Tourism Expenditure and Economic Growth

AlperAslan
NevsehirHaciBektasVeli University
Turkey
alperaslan@nevsehir.edu.tr
Abstract: This paper empirically examines the impact of tourism expenditure on the long-run
economic growth of Turkey by using Autoregressive Distributed Lag (ARDL) approach and
the Hatemi Causality test to investigate causality for 2003:1 to 2012:1. The paper uses new
data set tourism expenditure in line with educational level- that has not previously been used
to estimate tourism expenditure on economic growth. The results of the bounds test show that
there is a stable long-run relationship between each of the tourism expenditure and economic
growth. The results of the causality test, on the other hand, show that there is bidirectional
causality between university graduate tourists’ expenditure and economic growth and a
causal flow from high school tourism expenditure to GDP growth which is verified growthled tourism hypothesis. Results reveal that university and post graduate degree with tourists'
expenditure is more successful on explaining the long-run relationship between tourism
expenditure and economic growth in Turkey. This result implies a policy that, although
Turkey need to focus more on tourism development for all level of education to reach higher
real income levels; policy makers should concentrate on attracting the attention of university
graduate tourist to gain more from tourism industry.
Keywords:Tourism expenditure, GDP growth, Educational level, Turkey.

100

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                <text>This paper empirically examines the impact of tourism expenditure on the long-run economic growth of Turkey by using Autoregressive Distributed Lag (ARDL) approach and the Hatemi Causality test to investigate causality for 2003:1 to 2012:1. The paper uses new data set tourism expenditure in line with educational level- that has not previously been used to estimate tourism expenditure on economic growth. The results of the bounds test show that there is a stable long-run relationship between each of the tourism expenditure and economic growth. The results of the causality test, on the other hand, show that there is bidirectional causality between university graduate tourists’ expenditure and economic growth and a causal flow from high school tourism expenditure to GDP growth which is verified growth-led tourism hypothesis. Results reveal that university and post graduate degree with tourists' expenditure is more successful on explaining the long-run relationship between tourism expenditure and economic growth in Turkey. This result implies a policy that, although Turkey need to focus more on tourism development for all level of education to reach higher real income levels; policy makers should concentrate on attracting the attention of university graduate tourist to gain more from tourism industry.  Keywords:Tourism expenditure, GDP growth, Educational level, Turkey.</text>
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                    <text>The Relationship between Growth and Tax Revenues in Croatia
HakanArslaner
Adnan Menderes University
Turkey
hakanarslaner@yahoo.com
SevinçYaraşırTülümce
Pamukkale University
Turkey
sevinç.yarasir@gmail.com
Abstract: In all countries, the main purpose of taxes is to finance public spending. However,
according to Keynesian school, governments apply for the taxes not only for public funding,
but also for achieving the objectives of fiscal policy. Recently, politicians have used the taxes
as a tool to ensure the economic stability, equality in income distribution and economic
growth. Among these objectives, economic growth refers to the net increase in national
income. Traditional growth theories have failed to explain the growth using capital
accumulation and labor. But, new endogenous growth theory investigates also the impact on
growth of the public policy. Different taxes have different effects in the economy. If taxes
examine as direct and indirect taxes, the first effect of indirect taxes on economy is related to
resource allocation through the price mechanism. The first effect of direct taxes such as
income and corporate tax is on saving and investment decisions of individuals. The rates on
these taxes should be lower for decisions of economic agents. The high taxation of this
earning has led to the badly affected of labor, capital and technology located among growth
factors. As a result, entrepreneurship can be reduced; saving and investment decisions can be
influenced negatively. On the other hand, the taxation of capital may also lead to balance of
payment problems in country by leaving the country of capital. Investment and saving are the
main tools of growth. Therefore, the use of taxes for providing economic growth is extremely
important. The relationship between economic growth and taxes is discussed in many studies.
The share of total tax revenues to GDP in Croatia is 14.8% in 1991, 22.97% in 1996, 22.4%
in 2000 and 18.6% in 2011. GDP growth rate is 5.2% in 1996, 3.75% in 2000 and -0.92% in
2011 respectively. In this study, the relationship between growth and tax revenues is analyzed
by using Johansen Cointegration and Causality tests in Croatia between 1991-2011 periods.
Johansen Cointegration test results reveal the existence of a positive and significant relation
between growth and tax revenues. In the long term, the impact of taxes on growth is
significant and positive. Granger causality test findings indicate that there is causality from
growth to tax revenues in the 10% significance level.
Keywords: Tax Revenues, Growth, Croatia, Granger Causality Test, Johansen Cointegration

67

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                <text>In all countries, the main purpose of taxes is to finance public spending. However, according to Keynesian school, governments apply for the taxes not only for public funding, but also for achieving the objectives of fiscal policy. Recently, politicians have used the taxes as a tool to ensure the economic stability, equality in income distribution and economic growth. Among these objectives, economic growth refers to the net increase in national income. Traditional growth theories have failed to explain the growth using capital accumulation and labor. But, new endogenous growth theory investigates also the impact on growth of the public policy. Different taxes have different effects in the economy. If taxes examine as direct and indirect taxes, the first effect of indirect taxes on economy is related to resource allocation through the price mechanism. The first effect of direct taxes such as income and corporate tax is on saving and investment decisions of individuals. The rates on these taxes should be lower for decisions of economic agents. The high taxation of this earning has led to the badly affected of labor, capital and technology located among growth factors. As a result, entrepreneurship can be reduced; saving and investment decisions can be influenced negatively. On the other hand, the taxation of capital may also lead to balance of payment problems in country by leaving the country of capital. Investment and saving are the main tools of growth. Therefore, the use of taxes for providing economic growth is extremely important. The relationship between economic growth and taxes is discussed in many studies.     The share of total tax revenues to GDP in Croatia is 14.8% in 1991, 22.97% in 1996, 22.4% in 2000 and 18.6% in 2011. GDP growth rate is 5.2% in 1996, 3.75% in 2000 and -0.92% in 2011 respectively. In this study, the relationship between growth and tax revenues is analyzed by using Johansen Cointegration and Causality tests in Croatia between 1991-2011 periods. Johansen Cointegration test results reveal the existence of a positive and significant relation between growth and tax revenues. In the long term, the impact of taxes on growth is significant and positive. Granger causality test findings indicate that there is causality from growth to tax revenues in the 10% significance level.    Keywords: Tax Revenues, Growth, Croatia, Granger Causality Test, Johansen Cointegration</text>
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                    <text>An Example of Regional Development in Bosnia during the Ottoman
Period: A Study on the Budgets of GaziHusrevBeyWaqf’sbetween 16241629
KadirArslanboğa
ÇanakkaleOnsekiz Mart University
Turkey
karslanboga@comu.edu.tr

Abstract: In the Ottoman Empire, waqf’s (foundations) played a key role in regional
development. Waqf’s were fulfilling many activities related to social, cultural and economic
life in the settlements. Ghazi HusrevBey established a waqf in 1537 and has built a complex
of buildings in Bosnia. This complex of buildings consists of mosque, madrasah, tomb,
primary school, lodge, guest house, soup kitchen, hospice, bath, caravanserai, bazaar and
library.
These all institutions of the Ghazi HusrevBeyWaqf have played an important role in regional
economic development of Bosnia. Institutions that were established in the centre of city have
played active role for regional development for centuries. The waqf has had an impact on not
only economically, but socially, culturally and in the fields of public health in the
development of region.
In this study, Ghazi HusrevBeyWaqf’s budgets will be examined years of 1624-25, 1625-26,
1626-27, 1627-28, and 1628-29. Thus, after nearly half a century the waqf's income and
expense will be examined in detail through financial records.
Revenues of the waqf consist of the farm, caravanserai, bath, inns and shops for rent in the
bazaar and revenues of tax-farming. The expenses of the waqf consist of salaries of employees
in mosque and hospice, hospice’s needs for food and other needs of waqf’s institution. With
these establishments, waqf created employment in the area and by demanding goods and
services from the city and regional market made an economic liveliness in the regional
economy.
These five-year financial records show us waqf’s yearly income and outcome activities.
Waqf’s budgets were derived from the Ottoman Archives in Istanbul.
Keywords: Regional Economic Development, Ottoman, Bosnia, Ghazi HusrevBey, Waqf.

19

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                <text>In the Ottoman Empire, waqf’s (foundations) played a key role in regional development. Waqf’s were fulfilling many activities related to social, cultural and economic life in the settlements. Ghazi HusrevBey established a waqf in 1537 and has built a complex of buildings in Bosnia. This complex of buildings consists of mosque, madrasah, tomb, primary school, lodge, guest house, soup kitchen, hospice, bath, caravanserai, bazaar and library.  These all institutions of the Ghazi HusrevBeyWaqf have played an important role in regional economic development of Bosnia. Institutions that were established in the centre of city have played active role for regional development for centuries. The waqf has had an impact on not only economically, but socially, culturally and in the fields of public health in the development of region.     In this study, Ghazi HusrevBeyWaqf’s budgets will be examined years of 1624-25, 1625-26, 1626-27, 1627-28, and 1628-29. Thus, after nearly half a century the waqf's income and expense will be examined in detail through financial records.  Revenues of the waqf consist of the farm, caravanserai, bath, inns and shops for rent in the bazaar and revenues of tax-farming. The expenses of the waqf consist of salaries of employees in mosque and hospice, hospice’s needs for food and other needs of waqf’s institution. With these establishments, waqf created employment in the area and by demanding goods and services from the city and regional market made an economic liveliness in the regional economy.  These five-year financial records show us waqf’s yearly income and outcome activities. Waqf’s budgets were derived from the Ottoman Archives in Istanbul.    Keywords: Regional Economic Development, Ottoman, Bosnia, Ghazi HusrevBey, Waqf.</text>
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