Regionalism in Central Asia has attracted much attention but little action. This paper argues that, as the countries accept WTO trade law as the baseline, the time is ripe for agreeing on trade rules that go beyond the WTO, with a focus on areas especially relevant to Central Asia. A modern trade agreement should not follow 20th century patterns of aiming for a customs union or free trade area; with low tariffs such preferential tariff arrangements are of little value. More important is to agree on areas where WTO rules are inadequate or non-existent, such as sanitary and phytosanitary measures and digitalization. For the framework for such an agreement, Central Asian countries can benefit from existing best practice, agreements with a chapter structure that permits focus on the most relevant areas while leaving more contentious areas for future negotiations.
Keywords: Central Asia, Trade agreements, Digitalization, SPS.
In the ever challenging post-pandemic world with emerging threats of revisionist global order and growing regional challenges, the Western Balkans region cannot be immune. From threats of destabilization of Bosnia-Herzegovina, the volatile situation in northern Kosovo, and the ongoing Serbia-Kosovo talks to the internal and external threats vis-à-vis Montenegro, the region is facing unprecedented challenges. The freezing of the European Union integration process, the new ideas of “Associate Members” and the new “clusters” methodology have led to enlargement fatigue not only from Brussels but also from regional capitals as well. On the other hand, the growing threats of Russia’s geopolitical ruptures and China’s economic penetration through “debt trap” diplomacy and other mechanisms are making governments and observers in the region increasingly skeptical. This paper tends to explore some of the insights and the economic effects both fiscal and monetary impact they have.
Keywords: Political instability, Economic and financial challenges, Western Balkans, European Union.
In order to contribute to the ongoing discussions on the environment-economy relationship, the relationship between renewable energy consumption, export diversification, economic growth and CO2 emission in the countries considered as transformation economies was investigated in the period between 1997 and 2014 in the current study. In the study, IPS, LLC unit root tests, Pedroni and Kao cointegration tests, and FMOLS and DOLS coefficient estimation methods, which are frequently used in the literature, were used. As a result of the analyses, it was concluded that renewable energy consumption, economic growth and export diversification have negative effects on CO2 emissions, while trade openness has a positive effect. In the Dumitrescu-Hurlin causality test results, a bidirectional causality relationship was found between renewable energy production and trade openness and CO2 emissions. Within the scope of these results, it is considered important to implement incentive policies for export diversification and renewable energy production in countries of transformation economy. Given the positive effect of trade openness on CO2 emissions, it is considered necessary to reduce the share of sectors polluting the environment in trade and to increase the share of sectors that do not have a negative impact on the environment.
Keywords: CO2 emissions, Renewable energy production, Export diversification, Trade openness, Economic growth.
This study analyzes agroterrorism, a potential threat. Considered a sub-title of bioterrorism, agroterrorism refers to the attacks that terrorist organizations could carry out by using biological agents and pests on the agriculture and food sector. The existence of biological attacks against opposing parties at various
times in history and the execution of special biological weapons programs by states reveal the possibility of terrorist organizations reaching this potential as
an element of fear. The possibilities of increasing the possibilities and capacities of terrorist organizations, which constitute one dimension of the new terrorism debate, to the extent that weapons of mass destruction could be used are discussed throughout the study. The study aims to contribute to the field by evaluating the threats that agroterrorism may pose and how prepared societies are for bioterrorist attacks.
This study examines the linear and nonlinear effects of foreign direct investment on the long-run economic growth in Türkiye for the period of 1970-2020, within the framework of a simple endogenous growth model represented by a production function in the form of Cobb-Douglas, where the assumptions of constant returns to scale and decreasing productivity are valid for all collectible capital inputs. For this purpose, the study investigates whether the changes in fixed capital and foreign direct investment rates affect the GDP per capita growth rate linearly and non-linearly by using the ARDL & NARDL approach. The findings show that there is a linear and a nonlinear cointegration relationship between the foreign direct investment rate and GDP per capita growth rate, but the foreign direct investment rate does not make significant contributions to the growth rate in the long run. According to another finding, positive and negative shocks in the foreign direct investment rate, depending on the contraction and expansion periods of the Turkish economy, do not significantly and asymmetrically affect the growth rate in the long run.
Keywords: Economic growth, Foreign direct investment, ARDL & NARDL approach.