Kaplan, Muhittin
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Yönetim Bilimleri Fakültesi, İktisat Bölümü
İktisat Bölümü, başta Türkiye ve çevre ülkeler olmak üzere küresel ekonomileri anlayan, var olan sorunları analiz ederken, iktisadi kuramları ve kavramları yetkin ve özgün bir şekilde kullanma becerisine sahip bireyler yetiştirmeyi amaçlamaktadır.
Adı Soyadı
Muhittin Kaplan
İlgi Alanları
İş Ekonomisi, Çevre Bilimleri ve Ekoloji, Alan Çalışmaları, Uluslararası İlişkiler, Kamu Yönetimi
Kurumdaki Durumu
Aktif Personel
8 sonuçlar
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Yayın An evaluation of the impact of the pension system on income inequality: USA, UK, Netherlands, Italy and Türkiye(Springer Science and Business Media B.V., 2024) Verberi, Can; Kaplan, Muhittin; Yönetim Bilimleri Fakültesi, İktisat BölümüThis study examines empirically the impact of various characteristics of pension systems, in particular their quality and integrity, on income inequality, utilizing micro-level data from the United States, United Kingdom, Netherlands, Türkiye and Italy. To this end, the income inequality model, which includes public pension (or public/private pension mix), age, education, gender, marital status and employment as independent variables, has been estimated using quantile regression. The results provide a number of valuable information on the impact of the pension system on income inequality: (i) Public pension income significantly reduces overall income inequality across almost all inequality groups in all countries, except for the UK and the Netherlands; (ii) Different types of pension systems vary significantly in their redistributive effects on income; (iii) The empirical results also show that the effect of different pension systems on inequality changes by inequality groups significantly.Yayın Stablecoins and emerging market currencies: A time-varying analysis(Emerald Publishing, 2025) Napari, Ayuba; Khan, Asad ul Islam; Kaplan, Muhittin; Vergil, Hasan; Yönetim Bilimleri Fakültesi, İktisat BölümüPurpose: Owing to the growing evidence of crypto asset connectedness and correlation with traditional financial assets, this study sought to determine if there is a time-varying correlation and/or connectedness between the stablecoin market and the currencies of emerging market and developing economies (EMDEs) with significant cryptocurrency penetration. Design/methodology/approach: This study uses a probabilistic principal component analysis (PPCA) to create stablecoin and EMDEs currency returns and volatility indices for EMDEs with significant cryptocurrency penetration. We then employ a time-varying correlation and time-varying parameter vector autoregressive (TVP-VAR) connectedness measures to document the time-dependent correlation and connectedness between the EMDE currencies and the stablecoin market. Findings: The result points to a spillover of return shocks from the EMDE currencies to the stablecoin market prior to and after the COVID-19 pandemic. This is indicative of a flight-to-safety role of stablecoins for EMDE currencies. This calls for increased attention to the stablecoin market by money market investors and monetary authorities. Originality/value: The paper contributes to the growing cryptocurrency and finance literature by empirically examining the level of connectedness between stablecoins and emerging market currencies. Knowing the relationship (correlation) and shock spillover (connectedness) between the stablecoins and the EMDE currencies will be valuable to currency investors’ diversification and hedging strategies, and to macroeconomic policymakers in designing and implementing regulation.Yayın The triple impact of innovation, financial inclusion, and renewable energy consumption on environmental quality in some emerging economies(Econjournals, 2024) Kaplan, Muhittin; Abdul Rahman, Mohammed Muntaka; Khan, Asad ul Islam; Vergil, Hasan; Yönetim Bilimleri Fakültesi, İktisat BölümüThis paper investigates the triple impact of innovation, financial inclusion, and renewable energy consumption on the quality of environment. The study employed data between 2007 and 2019 from selected emerging economies. Using the fixed effect two-step GMM econometric method. The result found that financial inclusion and innovation have a positive relationship with carbon emissions, hence, contributing to the reduction in the quality of the environment. Renewable energy consumption was found to reduce carbon emissions. Similarly, the interactive terms TPT*FIN, FIN*REN, and TPT*REN were all negatively related to carbon emissions. The study recommends that governments should increase financial instruments to support innovation that will enhance environmental quality. Additionally, governments should strengthen their environmental policies. Financial institutions should encourage firms to access green finance solutions. The value and originality of this study is the introduction of the interactive term which throws more light on variables that affect the environment and through which channel. Moreso, there are few works with these interactive terms relative to emerging economies. Third, there are no previous studies that employed the fixed effect two-step GMM to analyze the impact of financial inclusion, technological innovation, and renewable energy consumption on environmental quality.Yayın Exploring the impact of behavioural factors and personality traits on private pension system participation: A machine learning approach(İstanbul University Press, 2024) Verberi, Can; Kaplan, Muhittin; Yönetim Bilimleri Fakültesi, İktisat BölümüThis study aims to investigate the effects of personality traits, in addition to basic financial literacy, private pension literacy and behavioural factors on Private Pension System (PPS) participation using machine learning algorithms. The PPS participation model was trained using both random forest and LightGBM algorithms, and the contributions of model inputs in the prediction of pension participation were interpreted using the Tree SHAP algorithms with swarmplots. The data employed in the empirical analysis is survey data collected from the Şırnak province of Türkiye with a sample size of 449. The findings of the study shows that: (i) PPS participation is more likely for females and middle-aged people; (ii) High basic financial literacy has a negative impact on PPS participation; (iii) Extraversion is the key personality trait affecting PPS participation; (iv) Advanced pension literacy has more impact on participation than simple pension literacy: (v) Present-fatalistic tendency is key behavioural factor and it negatively affects PPS; (vi) Present-hedonistic, conscientiousness, future-time orientation, and locus of control tendencies increase PPS participation. Furthermore, the distribution of colours in LightGBM has a greater degree of uniformity in both directions compared with the random forest algorithm. Finally, to increase PPS participation, the results of the study suggest the implementation of the following policy measures: Tailored pension literacy programmes can help to increase pension participation rates. Incentives should be created to prevent narrow-minded behaviour and establish a sense of protection and control around PPS, targeting middle-aged individuals and women.Yayın The causal relationship between public investment in renewable energy and climate change performance index(Econjournals, 2025) Vergil, Hasan; Mursal, Marwa; Kaplan, Muhittin; Khan, Asad ul Islam; Yönetim Bilimleri Fakültesi, İktisat BölümüAddressing the current environmental challenges requires optimizing climate actions and understanding the complex relationships among them. This paper aims to provide insights into how public investment in renewable energy influences various dimensions of climate change, including emissions, efficiency, renewable energy deployment, and policy effectiveness. This study seeks to explore the causal connection between public investment in renewable energy and the Climate Change Performance Indicator (CPI) from 2007 to 2017, utilizing data provided by German Watch. The method used is Dumitrescu and Hurlin’s (2012) Granger Causality. The study unveils a unidirectional causality from Renewable Energy Investment (REI) to climate change performance. Additionally, it emphasizes the critical role of energy efficiency in attracting investments in renewable energy. Surprisingly, the study finds that REI influences the quality of climate policy. Furthermore, the study identifies a bi-directional causality between a renewable energy share and REI. The contribution of the paper lies in its analysis of public investment in renewable energy, covering areas beyond just public finance for R&D in renewable energy, as also exploring the causal link between this investment and CPI. It offers policymakers insights on how financial governmental interventions can effectively drive climate action.Yayın The impact of personality, behavior, and geography on participation in the private pension system in Türkiye: A machine learning approach(Borsa Istanbul Anonim Şirketi, 2025) Verberi, Can; Kaplan, Muhittin; Yönetim Bilimleri Fakültesi, İktisat BölümüThis study examines regional disparities in the factors that affect participation in the Private Pension System (PPS) in Türkiye, focusing on sociodemographic characteristics, personality traits and behavior, and pension and financial literacy. The behavioral factors identified encompass procrastination, locus of control, pessimism, compulsive buying, and time perspective, and the personality traits include openness, agreeableness, extraversion, neuroticism, and conscientiousness. The study employs data on two provinces in Türkiye, Şırnak and Istanbul, and uses XGBoost and Tree SHAP algorithms and a probit model. Our findings indicate that personality traits such as openness, agreeableness, and conscientiousness have a positive influence on individual engagement in pension plans, whereas extraversion has a negative impact. Additionally, basic pension literacy is more influential than advanced pension literacy. The results also show that regional geography significantly influences personality and behavioral factors. Finally, a perception of protection is a critical factor in PPS participation.Yayın Social behaviour towards tax payment: A survey-based evidence from SADC countries(Hüzeyfe Süleyman Arslan, 2023) Ibrahim, Mahat Maalim; Khan, Asad ul Islam; Kaplan, Muhittin; Yönetim 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 Beyond GARCH: Intraday insights into the exchange rate and stock price volatility dynamics in Borsa Istanbul sectors(Shaheed Benazir Bhutto Women University, 2024) Abdul-Rahman, Mutawakil; Khan, Asad ul Islam; Kaplan, Muhittin; Yönetim Bilimleri Fakültesi, İktisat BölümüThis study investigated the impact of exchange rate volatility on sectoral stock volatility by employing the intraday volatility measure directly calculated from the original data, using daily data from 27 Borsa Istanbul sectors between April 29, 2003, and April 25, 2023. In the literature, GARCH models are commonly used to study the volatility spillovers between exchange rates and stock prices, typically using aggregate data. However, the GARCH family models provide inefficient and biased estimates if they are misspecified. Moreover, using aggregate-level data may lead to biased and misleading conclusions. The research used intraday volatility measures to overcome the shortcomings of GARCH models. The ordinary least squares (OLS), GARCH (1,1) methods, and Garman and Klass (1980) volatility estimator are used. The empirical results showed that the estimates from each method vary significantly, and these disparities in the results might be due to misspecification in GARCH (1,1) models. The intraday volatility model estimation results showed that although stock price volatilities in all sectors are positively and significantly affected by exchange rate volatility, their magnitudes vary significantly. Taken together, this implies the presence of vast heterogeneities in the responses of sectoral stock price volatilities to exchange rate volatility. The results encourage policymakers to pay special attention to these heterogeneities to prevent capital flights and underinvestment. Additionally, the findings assist investors in making more effective decisions by helping them adapt their investment strategies to factor in exchange rate fluctuations and mitigate the impact of unexpected events in the exchange rate market.
