Browsing by Author "Ismihan, M"

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Citation - WoS: 18
Citation - Scopus: 21
Does Central Bank Independence Lower Inflation?
(Elsevier Science Sa, 2004) Ismihan, M; Ozkan, FG
This paper provides a potential explanation for the recent findings of no significant relationship between central bank independence (CBI) and lower inflation. We argue that although CBI delivers lower inflation in the short-term, it may reduce the scope for productivity enhancing public investment and so harm future growth potential. We also argue that the effects on growth make CBI less likely to achieve lower inflation in the long-term. (C) 2004 Elsevier B.V. All rights reserved.
Citation - WoS: 19
Citation - Scopus: 30
The Role of Macroeconomic Instability in Public and Private Capital Accumulation and Growth: the Case of Turkey 1963-1999
(Routledge Journals, Taylor & Francis Ltd, 2005) Ismihan, M; Metin-Ozcan, K; Tansel, A
This study investigates the empirical relationship(s) between macroeconomic instability, public and private capital accumulation and growth in Turkey over the period 1963-1999. Time series econometric techniques. such as cointegration and impulse response analysis, are used. The results of this paper suggest that the chronic and increasing macroeconomic instability of the Turkish economy has seriously affected her capital formation and growth. Furthermore, the Turkish experience indicates that chronic macroeconomic instability seems to be a serious impediment to public investment, especially to its infrastructural component, and shatters, or even reverses. the cornplementarity between public and private investment in the long run.