Orhangazi, Özgür
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Orhangazi, Özgür
Özgür ORHANGAZI
Orhangazi, Ö.
Ozgür Orhangazi
Orhangazi, Ozgur
Orhangazi O.
ÖZGÜR ORHANGAZI
O., Ozgur
Orhangazi Ö.
Orhangazi,Ö.
Orhangazi, Ozgür
O.,Ozgur
Ozgur, Orhangazi
ORHANGAZI, Özgür
Özgür Orhangazi
O., Özgür
Orhangazi,Ozgur
Orhangazi, ÖZGÜR
O. Orhangazi
Orhangazi, O.
ORHANGAZI, ÖZGÜR
Ö. Orhangazi
Orhangazi,O.
Özgür ORHANGAZI
Orhangazi, Ö.
Ozgür Orhangazi
Orhangazi, Ozgur
Orhangazi O.
ÖZGÜR ORHANGAZI
O., Ozgur
Orhangazi Ö.
Orhangazi,Ö.
Orhangazi, Ozgür
O.,Ozgur
Ozgur, Orhangazi
ORHANGAZI, Özgür
Özgür Orhangazi
O., Özgür
Orhangazi,Ozgur
Orhangazi, ÖZGÜR
O. Orhangazi
Orhangazi, O.
ORHANGAZI, ÖZGÜR
Ö. Orhangazi
Orhangazi,O.
Job Title
Prof. Dr.
Email Address
Main Affiliation
Economics
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Current Staff
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ORCID ID
Scopus Author ID
Turkish CoHE Profile ID
Google Scholar ID
WoS Researcher ID
Sustainable Development Goals
11
SUSTAINABLE CITIES AND COMMUNITIES
1
Research Products
17
PARTNERSHIPS FOR THE GOALS
7
Research Products
14
LIFE BELOW WATER
0
Research Products
8
DECENT WORK AND ECONOMIC GROWTH
13
Research Products
15
LIFE ON LAND
1
Research Products
1
NO POVERTY
2
Research Products
7
AFFORDABLE AND CLEAN ENERGY
2
Research Products
6
CLEAN WATER AND SANITATION
0
Research Products
12
RESPONSIBLE CONSUMPTION AND PRODUCTION
1
Research Products
16
PEACE, JUSTICE AND STRONG INSTITUTIONS
1
Research Products
9
INDUSTRY, INNOVATION AND INFRASTRUCTURE
6
Research Products
3
GOOD HEALTH AND WELL-BEING
0
Research Products
2
ZERO HUNGER
0
Research Products
4
QUALITY EDUCATION
0
Research Products
10
REDUCED INEQUALITIES
12
Research Products
13
CLIMATE ACTION
2
Research Products
5
GENDER EQUALITY
0
Research Products
Documents
31
Citations
1261
h-index
11
Documents
24
Citations
1099
Scholarly Output
43
Articles
20
Views / Downloads
338/4604
Supervised MSc Theses
9
Supervised PhD Theses
2
WoS Citation Count
276
Scopus Citation Count
297
WoS h-index
8
Scopus h-index
9
Patents
0
Projects
0
WoS Citations per Publication
6.42
Scopus Citations per Publication
6.91
Open Access Source
23
Supervised Theses
11
| Journal | Count |
|---|---|
| Review of Radical Political Economics | 6 |
| Development and Change | 2 |
| Review of Keynesian Economics | 2 |
| Elgar Encyclopedia of Central Banking: Second Edition | 1 |
| Emerging Markets Finance and Trade | 1 |
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43 results
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Now showing 1 - 10 of 43
Article Citation - WoS: 3Citation - Scopus: 3Contours of Alternative Policy Making in Venezuela(Sage Publications Inc, 2014) Orhangazi, ÖzgürThe economic policies of the Venezuelan government in the last decade represent a significant departure from neoliberal orthodoxy. This departure consists of a focus on greater national autonomy, a return to some of the macroeconomic policies of earlier eras, and increased state involvement in the economy through interventions and social programs. While these policies have resulted in improved social indicators, they also have provided space for a set of "transformative" initiatives, including experiments with worker co-management, cooperatives, and participatory planning, all of which seek alternatives to the capitalist organization of the economy. Although the Venezuelan experience could be considered sui generis, especially with the economy's dependence on oil, a critical evaluation of the policies implemented in Venezuela would contribute to discussions on the alternatives to both neoliberal policies and capitalism in general. This paper provides an analysis of the break with neoliberal economic policies and of the transformative initiatives, as well as an evaluation of their achievements together with a discussion on their likely future path.Book Part Finance, Finance Capital, Financialisation(Palgrave Macmillan, 2016) Orhangazi, Ö.Article Citation - WoS: 31Citation - Scopus: 37Competition and Monopoly in the U.s. Economy: What Do the Industrial Concentration Data Show?(Sage Publications, 2021) Davis, Leila; Orhangazi, ÖzgürA recent series of academic studies, think-tank reports, and news articles shows widespread attention to rising industrial concentration and market power in the U.S. economy. In this paper, we focus on concentration in the U.S. nonfinancial corporate sector to make three contributions to the literature. First, we use examples from the debate on industrial concentration to show that there are often-divergent predictions in the theoretical literature surrounding the expected consequences of concentration and monopolization for nonfinancial firms. Second, we use industry-level concentration data to describe recent trends in average concentration. We show that, while concentration increases across the majority of industries after the late 1990s, the retail and information-services sectors are particularly key for understanding recent trends in average industrial concentration. Third, we link our industry-level analysis with firm-level data to describe the relationship between industrial concentration and nonfinancial corporations' profitability, markups, and investment. Consistent with the ambiguities in the theoretical literature, we find that these relationships are not uniform: while some highly concentrated industries confirm standard expectations with high markups, high profitability, and low investment rates, other highly concentrated industries earn lower-than-average markups and profits, suggesting that - in some industries - increased concentration and intensified competition may go hand in hand.Master Thesis Türkiye'nin Yeşil Dönüşümü ve İş Fırsatları(2023) Gözkün, Kübra Atik; Orhangazi, ÖzgürEnerji sektörü küresel olarak sera gazı emisyonunu arttırırken, Türkiye'deki yıllık sera gazı emisyonlarının %40'ından elektrik üretimi sorumludur. Elektrik enerjisi üretimi amacıyla yenilenebilir enerji kaynaklarına yapılacak geçişin emisyon salınımında düşüşe sebep olması beklenirken, ekonomik aktivite ve istihdam fırsatlarında da artış yaratması beklenmektedir. Literatürdeki araştırmalar, yeşil enerji yatırımlarının ekonomik büyüme ve istihdam üzerindeki etkisi üzerine yoğunlaşmış olup, gelişmekte olan ülkelerdeki net etki belirsizdir. Ayrıca, alternatif politika senaryolarını dikkate alarak Türkiye'nin enerji geçişini inceleyen az sayıda çalışma bulunmaktadır. Bu tez, girdi-çıktı yöntemi ve istihdam faktörü yaklaşımını kullanarak Türkiye'de yeşil enerji dönüşümünün istihdam üzerindeki etkisini farklı senaryolar altında incelemektedir. Her iki analiz de, kömür enerjisinin yenilenebilir enerjiye göre daha yüksek istihdam potansiyeli içerdiğini, yenilenebilir enerji yatırımlarının ise fosil yakıtlara göre daha fazla operasyon ve bakım işi sağladığını göstermektedir. 1 milyon dolarlık yatırım, önümüzdeki 25 sene içerisinde güneş enerjisinde 16.2 iş potansiyeli barındırırken, rüzgar enerjisi 11.6 iş yaratmaktadır. Kömür enerjisi, daha yüksek sermaye maliyetleri nedeniyle yenilenebilir enerjiden daha yüksek bir istihdam yaratma potansiyeline sahip olsa da, öngörülen elektrik talebinin analize dahil edilmesi, 2020 istihdamının toplam %1,3 ila %3,9'una eşdeğer net pozitif istihdam fırsatı yaratmaktadır. Bu sonuçlar enerji endüstrisinin transformasyonunun enerji verimliliği yatırımları ile desteklenmesi gerektiğini ortaya koymaktadır.Book Part Finance, Finance Capital, Financialization(Springer International Publishing, 2021) Orhangazi, Ö.Article Citation - WoS: 91Citation - Scopus: 91The Role of Intangible Assets in Explaining the Investment-Profit Puzzle(Oxford Univ Press, 2019) Orhangazi, ÖzgürStarting around the early 2000s, and especially after the 2008 crisis, the rate of capital accumulation for US nonfinancial corporations has slowed down despite relatively high profitability; indicating a weakening of the link between profitability and investment. While the literature mostly focuses on financialisation and globalisation as the reasons behind this slowdown, I suggest adding another layer to these explanations and argue that, in conjunction with financialisation and globalisation, we need to pay attention to the increased use of intangible assets by nonfinancial corporations in the last two decades. Intangibles such as brand names, trademarks, patents and copyrights play a role in the widening of the profit-investment gap as the use of these assets enables firms to increase market power and profitability without necessarily generating a corresponding increase in fixed capital investment. After discussing the ways nonfinancial corporations use intangible assets, I look at large corporations in the USA and find the following: (i) The ratio of intangible assets to the capital stock increased in general. This increase is highest for firms in high-technology, healthcare, nondurables and telecommunications. (ii) Industries with higher intangible asset ratios have lower investment to profit ratios. (iii) Industries with higher intangible asset ratios have higher markups and profitability. (iv) The composition of the nonfinancial corporate sector has changed and the weight of high-technology and healthcare firms has increased; but this increase did not correspond to an equal increase in their investment share. The decline in the investment share of durables, nondurables and machinery is matched by an increase in the investment share of location-specific industries with low intangible asset use, most notably firms in energy extraction. In general, these firms have steadier markups and higher investment to profit ratios. (v)Yet, intangible-intensive industries' profitability has increased faster than their share of investment or total assets. All in all, these findings are in line with the suggestion that the increased use of intangible assets enables firms to have high profitability without a corresponding increase in investment.Article Citation - WoS: 14Citation - Scopus: 15Turkey in Turbulence: Heterodoxy or a New Chapter in Neoliberal Peripheral Development?(Wiley, 2023) Orhangazi, Ozgur; Yeldan, A. Erinc; Erinç Yeldan, A.While global monetary tightening by central banks, led by the US Federal Reserve, has heightened concerns about a slowdown in the world's economy and an increased likelihood of debt crises across developing countries, Turkey has attracted attention for doing the opposite. Indeed, the country's economic policy makers have intensified monetary easing towards credit expansion at the risk of increased exchange rate instability. This article analyses the Turkish case and makes four contributions. First, it establishes a framework through which we can understand and interpret the policy choices of the government. Second, it shows the binding effects of the trilemma in the context of an economy fully integrated in the global economy and discusses how the government tried to tackle these effects through a series of ad hoc policy measures. Third, the article discloses the distributional consequences of such policy manoeuvres and argues that the burden of adjustment fell on the shoulders of wage labour, while various competing rentier interests benefited from these policies. Fourth, the authors analyse these policies from a broader perspective of whether they can be interpreted as a courageous attempt by a peripheral developing economy to claim some policy space, or whether these policy choices in essence only amount to a deepening of neoliberal peripheralization.Doctoral Thesis The Impact of Borrowing on Household Saving Behavior the Case of Turkey 2003 – 2012(Kadir Has Üniversitesi, 2018) Şenol, Serdar; Orhangazi, ÖzgürThe aim of this Ph.D. thesis is to contribute to the vast literature on the determinants of household saving and reassess the precautionary saving preferences of Turkish households by introducing liquidity and debt related factors aside from the general saving contributors. The precautionary saving motive against future income uncertainties defined as one of the leading indicators of saving preferences is effected through liquidity effects especially in less financialized economies with uneven income distributions. The sharp decline in Turkish households‘ saving ratio in the global financialization period is a good example of the changing saving dynamics with liquidity and debt concepts. in my thesis i use the Turkish Household Budget Surveys for the period of 2003 to 2012. in addition to the socioeconomic and demographic information in these surveys i also utilize generated liquidity and debt indicators. Descriptive analysis confirms the predictions of the saving literature showing young and impatient households to be less inclined to save. Education level improves while employment focuses on the service sector. Uneven income distribution is one of the major factors to limit saving and also precautionary saving opportunities for a significant portion of observations and elevates the importance of liquidity conditions. Empirical analysis confirms the presence of precautionary saving in Turkish households while its significance is lower after the 2008 crisis once liquidity effects are introduced. Moreover wealthy and entrepreneur households are observed to be natural savers. Presumably liquidity constrained households do not demonstrate a difference in precautionary saving preferences but confirming the predictions of the liquidity constraint households hypothesis they dissave with easier liquidity conditions. The presence of debt is an additional saving motive. it is suggested that an improvement in income distribution and a decline in the liquidity constrained households‘ share would rebalance the low saving level of Turkish households.Article Citation - WoS: 8Citation - Scopus: 10Growth and Distribution After the 2007-2008 Us Financial Crisis: Who Shouldered the Burden of the Crisis?(Edward Elgar Publishing Ltd, 2016) Dufour, Mathieu; Orhangazi, ÖzgürThe post-1980 era witnessed an increase in the frequency and severity of financial crises around the globe the majority of which took place in low-and middle-income countries. Studies of the impacts of these crises have identified three broad sets of consequences. First the burden of crises falls disproportionately on labor in general and low-income segments of society in particular. In the years following financial crises wages and labor share of income fall the rate of unemployment increases the power of labor and labor unions is eroded and income inequality and rates of poverty increase. Capital as a whole on the other hand usually recovers quickly and most of the time gains more ground. Second the consequences of crises are visible not only through asset and income distribution but also in government policies. Government policies in most cases favor capital especially financial capital at the expense of large masses. In addition many crises have presented opportunities for further deregulation and liberalization not only in financial markets but in the rest of the economy as well. Third in the aftermath of financial crises in low-and middle-income economies capital inflows may increase as international capital seeks to take advantage of the crisis and acquire domestic financial and non-financial assets. The 2007-2008 financial crisis in the US provides an opportunity to extend this analysis to a leading high-income country and see if the patterns visible in other crises are also visible in this case. Using the questions and issues typically raised in examinations of low-and middle-income countries we study the consequences of the 2007-2008 US financial crisis and complement the budding literature on the 'Great Recession.' In particular we examine the impacts of the crisis on labor and capital with a focus on distributional effects of the crisis such as changes in income shares of labor and capital and the evolution of inequality and poverty. We also analyse the role of government policies through a study of government taxation and spending policies and examine capital flow patterns.Article Citation - WoS: 68Citation - Scopus: 75The Re-making of the Turkish Crisis(WILEY, 2021) Orhangazi, Özgür; Yeldan, A. ErinçBy the end of 2018 Turkey had entered a new economic crisis and a lengthy recession period. In contrast to the previous financial crises of 1994, 2001 and 2009, when the economy shrank abruptly with a spectacular collapse of asset values and a severe contraction of output, the 2018 economic crisis was characterized by a prolonged recession with persistent low (negative) rates of growth, dwindling investment performance, debt repayment problems, secularly rising unemployment, spiralling currency depreciation and high inflation. The mainstream approach attributes this dismal performance to a lack of 'structural reforms' and/or exogenous policy factors. However, this analysis shows that the underlying sources of the crisis are to be found not in the conjunctural cycles of reform fatigue, but rather in the post-2001, neoliberal, speculation-led growth model that relied excessively on hot-money inflows and external debt accumulation. This article argues that following the post-2001 orthodox reforms, a foreign capital inflow-dependent, debt-led and construction-centred economic growth model dominated the economy and caused a long build-up of imbalances and increased fragilities that led to the 2018 crisis. The Covid-19 pandemic of 2020-21 further exposed these fragilities, pushing the economy back into a recession with rapid capital outflows causing another round of sharp currency depreciation.
