Edited By Rasim Yilmaz and Günther Löschnigg
This volume is a collection of empirical and theoretical research papers in the social sciences regarding the Balkans and the Near East written by researchers from several different universities and institutions. The studies include a wide range of topics from economic, financial, political, agricultural, sociological, international relations to historical, cultural, and feminist issues in the region of the Balkan and Near East. The book is aimed at educators, researchers, and students interested in the Balkan and Near Eastern countries.
Public Expenditures and Housing Prices in Turkey: A Spatial Econometric Analysis (Tugrul Cinar / Ersin Nail Sagdic / Guner Tuncer)
Tugrul Cinar1, Ersin Nail Sagdic2 and Guner Tuncer3 Public Expenditures and Housing Prices in Turkey: A Spatial Econometric Analysis Introduction After the 2008 global crisis, economic growth in Turkey has increased approxi- mately by 5.2% on average between 2010 and 2015. It can be said that the public investments have an important influence on this growth performance. As a devel- oping country, Turkey’s public investment program substantially concentrates on main infrastructure sectors such as transport, energy, and telecommunications. Public investments may also be an important tool to promote competitiveness, regional development, and economic growth. Additionally, it remains an impor- tant vehicle in providing core infrastructure and is often a precondition for private investment in Turkey (World Bank, 2014). Housing prices may vary regionally in a country and arguably various factors may have an impact on housing prices. For instance, Bruyne and Hove (2006) list these factors as general economic performance, employment opportunities, population growth, migration, government regulations and planning policies, quality of life, market conditions, the balance or imbalance between supply and demand in the housing market, proximity to economic centers, and government investments on transportation network, including roads, highways, and public transport systems. Public investment and public expenditures are an essential element to foster economic growth, employment, advance local services, and reduce regional de- velopment disparities. Also it can be regarded as a means to improve the avail- ability and quality of local facilities and services such as beaches, parks, police protection, roads, and parks. These local facilities are...
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