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Yayın Empirical analysis of the impact of Turkish bilateral official development assistance on export(Universitas Islam Indonesia, 2023) Hassan, Arab Dahir; Dil, EsraPurpose ― The main objective of this study is to explore the relationship between bilateral official development assistance and the export of Turkey to 18 Turkish aid recipient countries between 1998 and 2019. Methods ― The study employs the gravity model of international trade to capture the effect of official development assistance on Turkish export to its aid recipient countries and utilizes Panel data econometric analysis. Findings ― The official development assistance (ODA) remains statistically significant across the models, indicating that ODA is one of the significant drivers of Turkish bilateral trade with the aid recipient countries. Implications ― The study argues that Turkey applied ODA as a foreign policy tool to access new markets in the Middle East, Balkans, Africa, and Asia. Turkish exports to developing countries increased due to the upsurged country's foreign aid donation to its recipients. Originality ― This study deviates from other studies in the literature by empirically examining the relationship between bilateral Official development assistance and the export of Turkey.Yayın From space to place: mapping poverty in Turkish regions with NASA's global gridded relative deprivation index(Springer, 2024) Hassan, Arab Dahir; Ibrahim, Mahat MaalimThis study examines the spatial distribution of poverty in Turkish states using zonal statistics techniques. The recently released Global Gridded Relative Deprivation Index (GRDIv1) dataset by NASA has been utilized. The GRDIv1 index contains six pivotal components: Child Dependency Ratio, Subnational Development Index, Infant Mortality Rate, BuiltUp to Non-Built-Up Ratios, VIIRS nighttime lights, and VIIRS Nighttime Lights (VNL) Slope Component. All the components capture various aspects of regional poverty differences. The results show the eastern regions have significantly higher levels of deprivation than the western regions. This disparity is attributed to conflicts, unemployment, and illiteracy in the East, while the West benefits from higher development. The analysis of the ratio of Built-Up Areas to Non-BuiltUp Areas reveals a complex distribution of urbanization and industrialization, with the western Marmara region emerging as a center of development and industrial activity. Moreover, the analysis of Nocturnal Illumination Patterns, based on VIIRS nighttime light data, further confirms the higher levels of development in the west and the deprivation in the east. This study objectively proves that the Eastern region of Turkiye contains areas with much higher deprivation than does central and western regions.Yayın Examining the shifting dynamics of the Beveridge curve in the Turkish labor market during crises(Multidisciplinary Digital Publishing Institute (MDPI), 2024) Babangida, Jamilu Said; Khan, Asad ul Islam; Aysan, Ahmet Faruk; İnsan ve Toplum Bilimleri Fakültesi, İktisat BölümüFollowing the global financial crisis, an increasing amount of attention has been directed towards examining the Beveridge curve (BC), which indicates the relationship between unemployment and vacancy rates. This research analyzes the unemployment–vacancy rate dynamics in the Turkiye labor market during both the global financial crisis and COVID-19 periods. The findings from this study demonstrate that the labor market exhibits deteriorating efficiency, as evidenced by movement of BC away from the origin. The unemployment and vacancy rates both increase over time, with a leftward (rightward) shift of BC during the global financial crisis (COVID-19) period. The study also reveals that both crises had no significant effect on unemployment–vacancy rate dynamics. In the Turkish labor market, there exists a situation where the vacancy rate is in shortfall of the unemployment level in Turkiye. This creates a positive relationship between these two factors. The labor market in Turkiye experiences inefficiencies as it struggles to generate a sufficient number of jobs to meet the demand from job seekers.Yayın Moderating role of board gender diversity between odd board composition and audit quality(Johar Education Society Pakistan, 2023) Hassan, Muhammad Zia Ul; Baith, S. M. Labib Abdul; Butt, Jahanzaib Safdar; Khan, Asad ul Islam; Khan, Asad ul Islam; İnsan ve Toplum Bilimleri Fakültesi, İktisat BölümüThis study investigates the relationship between odd board structure, board gender diversity, and audit quality in Pakistani firms. The data is collected from Pakistan Stock Exchange’s KSE100 index companies from the year 2016 to 2020. The study employs regression models to analyze the impact of an odd board structure on audit quality, as measured by audit fees. Additionally, the moderating role of board gender diversity on this relationship is examined. The findings reveal that an odd board structure positively influences audit quality, indicating that firms with an odd number of directors pay higher audit fees. However, the study could not find a significant moderating role of board gender diversity. The study recommends the adoption of an odd board structure to enhance audit quality and further emphasizes the importance of promoting board gender diversity to strengthen governance practices especially audit quality in the Pakistani context.Yayın Whether the crypto market is efficient? Evidence from testing the validity of the efficient market hypothesis(Bank Indonesia Institute, 2024) Özcan, Rasim; Khan, Asad ul Islam; Iftikhar, Sundas; Khan, Asad ul Islam; Özcan, Rasim; İnsan ve Toplum Bilimleri Fakültesi, İktisat BölümüThis study examines the validity of the efficient market hypothesis for the cryptocurrency market. We use the Exponential Generalized Autoregressive Conditional Heteroscedastic approach to examine the presence of different calendar anomalies i.e., the Halloween effect, the day-of-the-week (DOW) effect, and the month-of-the-year effect in the case of Bitcoin, Ethereum, XRP, Tether, and USD Coin. The findings show that there is no strong evidence of the Halloween effect. We find only robust Thursday and Saturday effects in the mean equation. In the case of the month-of-the-year effect, there is only a reverse January effect. More specifically, we note that April and February are statistically significant in the case of Bitcoin and Ethereum, respectively. Results obtained from the variance equations imply that September and October are the least risky months for investors.Yayın What determines public attitudes toward immigration in the Middle East: An analysis at the individual level(Emerald Publishing, 2024) Saleh, Deena; Vergil, Hasan; Vergil, Hasan; İnsan ve Toplum Bilimleri Fakültesi, İktisat BölümüPurpose: Surveys in Europe show that immigration is more of a challenge than an opportunity for a significant number of people. However, little attention is given to attitudes toward immigration in the Middle East. This paper examines the effects of personal values and religiosity on the anti-immigration attitudes of citizens in the Middle East and North African countries. Design/methodology/approach: Utilizing data from the World Values Survey, we analyze how personal values and religiosity affect anti-immigration attitudes in nine Middle Eastern countries. The data covers individual-level data of 9 MENA countries from the WVS Round 7 (2017–2022). Factor analysis is applied as a data reduction method. Afterward, an OLS regression analysis is conducted on the pooled data. Findings: Anti-immigration attitudes increase with age, education, and religiosity. Personal values such as national pride, support for nationals, and belongingness to one’s country significantly affect anti-immigration attitudes. Furthermore, the importance of religion as a measure of religiosity was found to be positively associated with anti-immigration attitudes. Originality/value: This paper contributes to underexplored literature by investigating how individual-level determinants, such as demographic indicators, personal values, and religious factors, shape anti-immigration attitudes in the MENA context, distinct from European dynamics.Yayın A comparative assessment of frequentist forecasting models: Evidence from the S&P 500 pharmaceuticals index(Istanbul University, 2023) Muneza, Christian; Khan, Asad ul Islam; Badshah, Waqar; Khan, Asad ul Islam; İnsan ve Toplum Bilimleri Fakültesi, İktisat BölümüThis paper compares three forecasting methods, the autoregressive integrated moving average (ARIMA), generalized autoregressive conditional heteroscedasticity (GARCH), and neural network autoregression (NNAR) methods, using the S&P 500 Pharmaceuticals Index. The objective is to identify the most accurate model based on the mean average forecasting error (MAFE). The results consistently show the NNAR model to outperform ARIMA and GARCH and to exhibit a significantly lower MAFE. The existing literature presents conflicting findings on forecasting model accuracy for stock indexes. While studies have explored various models, no universally applicable model exists. Therefore, a comparative analysis is crucial. The methodology includes data collection and cleaning, exploratory analysis, and model building. The daily closing prices of pharmaceutical stocks from the S&P 500 serve as the dataset. The exploratory analysis reveals an upward trend and increasing heteroscedasticity in the pharmaceuticals index, with the unit root tests confirming non-stationarity. To address this, the dataset has been transformed into stationary returns using logarithmic and differencing techniques. Model building involves splitting the dataset into training and test sets. The training set determines the best-fit models for each method. The models are then compared using MAFE on the test set, with the model possessing the lowest MAFE being considered the best. The findings provide insights into model accuracy for pharmaceutical industry indexes, aiding investor predictions, with the comparative analysis emphasizing tailored forecasting models for specific indexes and datasets.Yayın Detecting unknown change points for heteroskedastic data(Dokuz Eylül Üniversitesi, 2023) Başçı, Sıdıka; Khan, Asad ul Islam; Khan, Asad ul Islam; İnsan ve Toplum Bilimleri Fakültesi, İktisat BölümüThere are several tests to detect structural change at unknown change points. The Andrews Sup F test (1993) is the most powerful, but it requires the assumption of homoskedasticity. Ahmed et al. (2017) introduced the Sup MZ test, which relaxes this assumption and tests for changes in both the coefficients of regression and variance simultaneously. In this study, we propose a model update procedure that uses the Sup MZ test to detect structural changes at unknown change points. We apply this procedure to model the weekly returns of the Istanbul Stock Exchange's common stock index (BIST 100) for a 21-year period (2003-2023). Our model consists simply a mean plus noise, with occasional jumps in the level of mean or variance at unknown times. The goal is to detect these jumps and update the model accordingly. We also suggest a trading rule that uses the forecasts from our procedure and compare it to the buy-and-hold strategy.Yayın Threat of intervention in cryptocurrency market: West side story of Bitcoin and Ripple(Bucharest University of Economic Studies, 2023) Aysan, Ahmet Faruk; Khan, Asad ul Islam; Isac, Nicoleta; Drammeh, Ousman; Özcan, Rasim; Khan, Asad ul Islam; Özcan, Rasim; İnsan ve Toplum Bilimleri Fakültesi, İktisat BölümüThis study examines the impact of intervention threats on the price and volume volatility of Bitcoin and XRP. Using the Threshold or GJR-GARCH model, we analyse the relationship between news shocks (representing intervention threats) and the volatilities of Bitcoin and XRP price and volume returns, based on data from January 2014 to April 2021. The results indicate a significant association between news shocks and Bitcoin's price volatility, suggesting that intervention-related news events have a notable impact. However, the relationship between news shocks and XRP's price volatility is insignificant. Notably, XRP's volume returns demonstrate a positive and significant relationship with news shocks, while Bitcoin's volume returns do not exhibit a significant relationship. Additionally, past shocks and conditional variance shocks significantly contribute to the volatility of today's price or volume returns. These findings suggest that Ripple (XRP) may benefit from the implicit threat of intervention, strategically managing its availability to control price surges.Yayın Social behaviour towards tax payment: A survey-based evidence from SADC countries(Hüzeyfe Süleyman Arslan, 2023) Khan, Asad ul Islam; Ibrahim, Mahat Maalim; Kaplan, Muhittin; Khan, Asad ul Islam; Kaplan, Muhittin; İnsan ve Toplum Bilimleri Fakültesi, İktisat BölümüTax non-compliance and its consequences have become a subject of increasing interest in academic literature and economic forums worldwide. While most studies on this issue focus on developed countries, there is a growing trend to explore understudied developing countries. To fill this gap, we investigated tax evasion drivers in eight Southern African Development Community (SADC) countries, using the round 7 Afrobarometer survey data conducted in 2019-2020. The survey's comprehensive coverage of economic, political, and sociological questions made it one of the most extensive surveys on the continent. We used logistic regression and Empirical Bayesian estimation and found that political legitimacy significantly influences tax evasion behavior in the SADC region. Individuals residing within the SADC are more likely to engage in tax evasion activities when they perceive a lack of access to fundamental services provided by their governments or harbor doubts about the legitimacy of political institutions. Therefore, policymakers in SADC member states should prioritize reviewing and evaluating economic policies, the performance and efficiency of political institutions, and more inclusive governance. We suggest that a strong and legitimate political framework, coupled with effective service delivery, can contribute to reducing tax evasion rates and enhancing public welfare outcomes. Institutional reforms, increased transparency, accountability, and a more inclusive governance system are necessary for fostering a culture of compliance and trust, leading to improved revenue collection.Yayın Fintech adoption in Pakistan: Mobile Wallet Service (MWS) over GDP causality evidence for pre and post COVID-19(Kinnaird College for Women, 2023) Latif, Muhammad Nouman; Özcan, Rasim; Özcan, RasimThis paper aims to analyze the use of mobile wallet services in Pakistan and how they affect both the economy and people's daily lives. Socioeconomically disadvantaged households in Pakistan will swiftly use mobile wallet services due to the increasing adoption of technology. Socioeconomic considerations are the most commonly used criterion for determining whether someone is underbanked or unbanked. We used data on mobile wallet services (MWS) and GDP from the State Bank of Pakistan for the period of 2013 to 2022. We conducted a causality test to ascertain the relationship between Pakistan's GDP and mobile wallet service. We discovered that the relationship between mobile wallet service and GDP is unidirectional. We then conducted an ordinary least square regression analysis, and the findings showed a positive correlation between GDP and mobile wallet service, confirming the causality. Because it is incredibly user-friendly and convenient for clients, it demonstrates that this service attracts attention from the public. Many low-income individuals use it, especially during the COVID-19 pandemic, as opposed to using standard banking systems. We recommend that financial literacy initiatives be taken seriously in order to promote equal financial inclusion in the economy. Mobile wallet users should be encouraged to keep using the service in order to aid the government in revenue mobilization. Additionally, it prevents the movement of illicit funds or fraudulent activity in the financial sector.Yayın Assessing the impact of financial obstacles on manufacturing firm's capacity utilization: Bayesian approach(University Indonesia, 2023) Hassan, Arab Dahir; Özcan, Rasim; Özcan, Rasim; İnsan ve Toplum Bilimleri Fakültesi, İktisat BölümüThis study investigates the relationship between financial obstacles and the capacity utilization of manufacturing firms. It departs from previous studies by employing a Bayesian linear regression analysis. The results demonstrate the considerable negative effect that financial constraints have on the capacity utilization of manufacturing enterprises, while access to credit lines has a positive ef-fect. The sample consists of 1,494 private manufacturing firms in 31 European and Central Asian countries. Financial obstacles were perceived as a major impediment to business operations by 65% of the enterprises surveyed. Furthermore, 52% of enterprises in the sample have access to loans from financial institutions, while 47% have no access to credit lines. This implies that the manufacturing sector’s capacity to tap into financial market resources and surmount financial barriers both is vital to its survival and presents a significant challenge.Yayın Is the effect of a health crisis symmetric for physical and digital financial assets? An assessment of gold and bitcoin during the pandemic(Public Library of Science, 2023) Badshah, Waqar; Musah, Mohammed; Khan, Asad ul Islam; Khan, Asad ul Islam; Özer, Ercan; İnsan ve Toplum Bilimleri Fakültesi, İktisat BölümüThe emergence of the covid-19 health crisis, in this advanced technological era where connections between markets, nations, and economies have grown stronger than ever before, the shock of the COVID-19 pandemic quickly had an impact on both physical and digital financial assets. The Chinese financial market experienced the first consequences of the covid-19 pandemic, then spilled over to other financial markets, including those for cryptocurrencies and the precious metals. This study examines the impact of the covid-19 pandemic on the volatilities of the dynamics of bitcoin and gold. Both assets share some characteristics, such as online trading platforms, however, gold is a tangible financial asset unlike bitcoin, which is digitally generated without any physical form. This study argues that the similarities and differences between bitcoin and gold play major roles in how the covid19 crisis affected their respective dynamics. Using daily data ranging from 9/22/2014 to 1/ 31/2023 and employing ARMA as the mean equation for GARCH model, the impact of the health crisis (covid-19) is examined on the volatilities of the prices and volumes of bitcoin and gold. Empirical evidence points out that, the pandemic has a symmetric impact on the volatilities of bitcoin and gold price returns, causing them to be more volatile. The impact of the covid-19 observed on the volume returns of the assets, however, is asymmetrical. The empirical results give evidence to the role that the vital differences existing between these assets played during the covid-19 pandemic.Yayın A comparative assessment of frequentist forecasting models: Evidence from the S&P 500 pharmaceuticals index(İstanbul University Press, 2023) Muneza, Christian; Khan, Asad ul Islam; Badshah, Waqar; Khan, Asad ul Islam; İnsan ve Toplum Bilimleri Fakültesi, İktisat BölümüThis paper compares three forecasting methods, the autoregressive integrated moving average (ARIMA), generalized autoregressive conditional heteroscedasticity (GARCH), and neural network autoregression (NNAR) methods, using the S&P 500 Pharmaceuticals Index. The objective is to identify the most accurate model based on the mean average forecasting error (MAFE). The results consistently show the NNAR model to outperform ARIMA and GARCH and to exhibit a significantly lower MAFE. The existing literature presents conflicting findings on forecasting model accuracy for stock indexes. While studies have explored various models, no universally applicable model exists. Therefore, a comparative analysis is crucial. The methodology includes data collection and cleaning, exploratory analysis, and model building. The daily closing prices of pharmaceutical stocks from the S&P 500 serve as the dataset. The exploratory analysis reveals an upward trend and increasing heteroscedasticity in the pharmaceuticals index, with the unit root tests confirming non-stationarity. To address this, the dataset has been transformed into stationary returns using logarithmic and differencing techniques. Model building involves splitting the dataset into training and test sets. The training set determines the best-fit models for each method. The models are then compared using MAFE on the test set, with the model possessing the lowest MAFE being considered the best. The findings provide insights into model accuracy for pharmaceutical industry indexes, aiding investor predictions, with the comparative analysis emphasizing tailored forecasting models for specific indexes and datasets.Yayın The language of sustainability: Exploring the implications of metaphors on environmental action and finance(Corvinus University of Budapest, 2023) Napari, Ayuba; Özcan, Rasim; Khan, Asad ul Islam; Özcan, Rasim; İnsan ve Toplum Bilimleri Fakültesi, İktisat BölümüThe relationship between humans and the environment is complex. To capture this complex relationship, metaphors/concepts have always been used. The most prominent of these metaphors/conceptions is the limits concept. This views the natural environment in terms of its carrying capacity and contend that human actions must be controlled so as not to overwhelm the environment. For overburdening the environment will result in a collapse of the natural system. The environmental optimists on the other hand discount the carrying capacity contending that human ingenuity and the market mechanism will overcome any temporary environmental problems that may arise. A tempered version of both is the political-ecological class of metaphors/conceptions which emphasize the political, cultural, and economic factors responsible for environmental decay and/or restoration. In this study, the implications of these metaphors/conceptions on environmental action and environmental finance are examined. It is concluded that, the limits conception views environmental action as a top-bottom endeavor and places governmental and multilateral organizations at the center of environmental and climate finance. The neoclassical and technological optimist concepts contend that, the current capitalist structure is well suited to tackle environmental externalities and government policy should encourage eco-innovation preferable through public-private partnerships. The tapestry and the political-ecological class of metaphors envisages a role for central authorities as well as private local individuals with crowdfunding and corporate social/environmental responsibilities along with governmental and multilateral aid and public-private partnerships being some of the main sources of funds for environmental protection and restoration.Yayın Türkiye ekonomik kalkınmasında ahilik ilkeleri(OSTİM Teknik Üniversitesi Yayınları, 2023) Vergil, Hasan; Vergil, Hasan; İnsan ve Toplum Bilimleri Fakültesi, İktisat Bölümüİkinci Dünya Savaşından bu yana ülkelerin tecrübeleri kalkınmanın mümkün olmakla birlikte gerçekleşmesinin oldukça zor olduğunu göstermiştir. Kalkınma modelleri tüm ülkelerde geçerli olacak kalkınma politikalarını önerirken aslında her ülkenin kendine has farklı karakter ve kısıtlamalara sahip olduğunu göz ardı etmektedir. Dünyada gelişen ve değişen siyasi ve ekonomik fikirlere paralel olarak ekonomi politikalarını belirleyen Türkiye, yüzyıllık bir devlet olmasına rağmen pek çok kalkınma göstergesine göre henüz gelişmiş ülkelerin gerisinde durmaktadır. Az gelişmiş ülkelerin ve Türkiye’nin ekonomik kalkınmasının gerçekleşmesinde, Batı merkezli topluma uygun olarak geliştirilen tek tip kalkınma modelleri yerine kendine has değerlerin kullanılarak bir model oluşturulması iktisadi, sosyal ve siyasal hedeflere ulaşmada daha fazla yardımcı olabilir...Yayın Decentralized finance(Springer Nature, 2021) Özcan, Rasim; Özcan, Rasim; Yönetim Bilimleri Fakültesi, İşletme BölümüNewer and better ways of financing lubricates the wheels of an economy. In recent years, there have been phenomenal changes in technologies used in finance. One of such technologies was introduced by creating the first cryptocurrency Bitcoin. The technology behind this invention is known as blockchain. Although there are and there might be other use cases of blockchain technology, the finance era is important and currently it is the most adapted industry; currently there are a number of cryptocurrencies, tokens, smart contract applications among others. This article seeks to introduce the basics of—so called—decentralized finance (DeFi) through an exploration of blockchain technology in the field of finance. The focus is on the definition of decentralized finance, its elements, its current state and its future. Elimination of intermediary need, easier access, improved inclusiveness, and transaction speed, flexibility to write any contract that can be codable, immutability of transactions, better interoperability and censorship resistance are some of the main advantages of blockchain. Additionally, increased privacy, transparency, enhanced security, efficiency in the form of reduction in overhead costs for banks, and trust are considered as the benefits of blockchain technology in finance, hence for DeFi. Its power need due to the excessive computer power needs, setting standards in validating new blocks and in communicating between different networks are important issues. Besides, user experience, scalability, current speed of blockchain networks, regulations like AML and KYC requirements, the lack of regulation in DeFi, and interoperability are key issues as well. In summary, the current state of DeFi markets is not technologically able to provide a worldwide service at the scale the centralized finance provides. It needs improvements in its technology and sound regulations to gain wide acceptance.Yayın Monetary policy and nonperforming loan ratios in a monetary union; a counterfactual study(Emerald Publishing, 2023) Napari, Ayuba; Özcan, Rasim; Khan, Asad ul Islam; İnsan ve Toplum Bilimleri Fakültesi, İktisat BölümüPurpose – For close to two decades, the West African Monetary Zone (WAMZ) has been preparing to launch a second monetary union within the ECOWAS region. This study aims to determine the impact such a unionised monetary regime will have on financial stability as represented by the nonperforming loan ratios of Ghana in a counterfactual framework. Design/methodology/approach – This study models nonperforming loan ratios as dependent on the monetary policy rate and the business cycle. The study then used historical data to estimate the parameters of the nonperforming loan ratio response function using an Autoregressive Distributed Lag (ARDL) approach. The estimated parameters are further used to estimate the impact of several counterfactual unionised monetary policy rates on the nonperforming loan ratios and its volatility of Ghana. As robustness check, the Least Absolute Shrinkage Selection Operator (LASSO) regression is also used to estimate the nonperforming loan ratios response function and to predict nonperforming loans under the counterfactual unionised monetary policy rates. Findings – The results of the counterfactual study reveals that the apparent cost of monetary unification is much less than supposed with a monetary union likely to dampen volatility in non-performing loans in Ghana. As such, the WAMZ members should increase the pace towards monetary unification. Originality/value – The paper contributes to the existing literature by explicitly modelling nonperforming loan ratios as dependent on monetary policy and the business cycle. The study also settles the debate on the financial stability cost of a monetary union due to the nonalignment of business cycles and economic structures.Yayın Subsample stability, change detection and dynamics of oil and metal markets: A recursive approach(Elsevier, 2023) Khan, Asad ul Islam; Shahbaz, Muhammad; Napari, Ayuba; Khan, Asad ul Islam; İnsan ve Toplum Bilimleri Fakültesi, İktisat BölümüThe analysis of historical price data for patterns and using such patterns for predictions and policy recommendations has become ubiquitous in the existing economics literature. These predictions and recommendations are premised on the stability of the statistical properties and inter-variable dynamics for which a single regime or few number of regimes can capture. This, however, is a strong assumption with serious repercussions if violated. In this study, the appropriateness of the stability assumption is questioned using various recursive regressions to test stability, consistency of stationarity and stability in inter-variable dynamics between crude oil, gold, silver, and platinum prices. Using monthly data sourced from the World Bank Commodity Price Data (Pink Sheet) from January 1, 9960 to March 2022, our empirical analysis found level prices of oil, gold, and platinum to be consistently non-stationary with rare exceptions. The level price of silver however is found to be inconsistent with multiple regime switches while the logged series of all variables yielded non-stationarity. The default is stationarity for all the variables when price series are logged differenced and/or differenced for oil, silver, and platinum. Differenced gold prices resulted in inconsistent stationarity with multiple regime changes. Even if rare, the stationarity of all the variables is dependent on time and sample size due to the inconsistence in the stationarity verdict. On the bi-variate relationship in the long run, only level silver prices are found to be cointegrated with oil while logged silver prices are inconsistently cointegrated with logged oil prices. Also, in the short-run, only log of oil prices is found to Granger cause log of silver prices. It is thus recommended that researchers and policy makers be tempered in extrapolating statistical findings in general and the price and interprice dynamics of oil, gold, silver and platinum into the future.Yayın Constant time calculation of the metric dimension of the join of path graphs(MDPI, 2023) Zhang, Chuanjun; Haidar, Ghulam; Khan, Murad ul Islam; Yousafzai, Faisal; Hila, Kostaq; Khan, Asad ul Islam; Khan, Asad ul Islam; İnsan ve Toplum Bilimleri Fakültesi, İktisat BölümüThe distance between two vertices of a simple connected graph G, denoted as (Formula presented.), is the length of the shortest path from u to v and is always symmetrical. An ordered subset (Formula presented.) of (Formula presented.) is a resolving set for G, if for ∀ (Formula presented.), there exists (Formula presented.) ∋ (Formula presented.). A resolving set with minimal cardinality is called the metric basis. The metric dimension of G is the cardinality of metric basis of G and is denoted as (Formula presented.). For the graph (Formula presented.) and (Formula presented.), their join is denoted by (Formula presented.). The vertex set of (Formula presented.) is (Formula presented.) and the edge set is (Formula presented.). In this article, we show that the metric dimension of the join of two path graphs is unbounded because of its dependence on the size of the paths. We also provide a general formula to determine this metric dimension. We also develop algorithms to obtain metric dimensions and a metric basis for the join of path graphs, with respect to its symmetries.
