Eurasian Journal of Business and Economics

1-13

Authors: M. Veysel KAYA & Erkan DEMİRBAŞ

The aim of this study is to analyze the relation between military interventions, coalitions and economic growth. In the study the relation between foreign direct investment, unemployment and growth also analyzed. For this purpose a semi-log model is constructed and Ordinary Least Squares (OLS) method used to test the linear relation between military interventions, coalitions, certificates given to foreign companies for investment, unemployment and GDP per capita. According to the results of analysis, presence of the co-integration is confirmed in the long-run between mentioned variables. And it is found out that there is a negative and significant relation between unemployment, number of certificates given to foreign companies for investment, coalition and economic growth. The relation between military intervention and growth is found insignificant and negative. The VECM model was used to test the causality shows that during the transition process from short-run to long-run, balance will be established. Deviation of GDP per capita in the short-run will gravitate towards balance in the long-run.

25-44

Authors: Pramod Kumar NAIK & Puja PADHI

The study investigates the relationships between the Indian stock market index (BSE Sensex) and five macroeconomic variables, namely, industrial production index, wholesale price index, money supply, treasury bills rates and exchange rates over the period 1994:04–2011:06. Johansen’s co-integration and vector error correction model have been applied to explore the long-run equilibrium relationship between stock market index and macroeconomic variables. The analysis reveals that macroeconomic variables and the stock market index are co-integrated and, hence, a long-run equilibrium relationship exists between them. It is observed that the stock prices positively relate to the money supply and industrial production but negatively relate to inflation. The exchange rate and the short-term interest rate are found to be insignificant in determining stock prices. In the Granger causality sense, macroeconomic variable causes the stock prices in the long-run but not in the short-run. There is bidirectional causality exists between industrial production and stock prices whereas, unidirectional causality from money supply to stock price, stock price to inflation and interest rates to stock prices are found.

71-90

Authors: Alexi DANCHEV & Ender SEVINC

The paper aims to outline the relationships between willingness to work (WTW),human capital and job satisfaction. It formulates WTW as an indicator of laborsupply and provides direct estimation of the link between WTW and the rise of knowledge and skills. The authors assume positive relationships between WTW, human capital and job satisfaction. Data collected by interviewing Turkish citizens were used to test the formulated hypotheses. The study outlines the link between the influence of the accumulated knowledge and skills on WTW and the job satisfaction factors. The paper can be regarded as a starting point for studying one important relationship in the economy: WTW, human capital and job satisfaction.

99-120

Authors: Kemal OZDEN & Chigozie ENWERE

Developing countries in the twenty-first century is experiencing rapid urbanization with a high concentration of people in the urban areas while the population of people in the rural areas is decreasing due to the rise in rural-urban push which has adverse consequences on the economic and political development of developing countries, in particular African cities. Therefore, this study seeks to analyze the trends and nature of urbanization in Africa from the pre-colonial era to the contemporary period of globalization in order to ascertain the implications of rapid urbanization on the processes of democratic transitions, on the vagaries of food sufficiency and crisis as well as its multiplier effects on the escalating rate of poverty and insurgency in the cities. These problems stem from the lack of good governance, high rate of corruption and the misappropriation of state resources through diverse economic liberalizing reforms and development strategies. Thus, this study affirms that urbanization is a process that requires objective management and institutional role differentiations and performance to create the organizational synergy, moderation and frugality necessary for the equitable distribution of the common wealth for the greatest good of all peoples not only in the urban areas but also in the rural areas which invariably will bring about political and economic development in African cities, and reduce the high incidences of poverty, insurgency and food crisis.