This is the first study that employs the propensity score matching framework to examine the average treatment effect of exchange rate regimes on economic growth. Previous studies examining the effects of different exchange regimes on growth often apply time series or panel data techniques and provide mixed results. This study employs a variety of non-parametric matching methods to address the self-selection problem, which potentially causes a bias in the traditional linear regressions. We evaluate the average treatment effect of the floating exchange rate regime on economic growth in 164 countries. Time period of the quasi experiment starts in 1970, capturing the collapse of the Bretton Woods fixed exchange rate commitment system. Results show that the average treatment effect of floating exchange rate regimes on economic growth is statistically insignificant. Verifying the results with the Rosenbaum's bounds, our findings are strong and robust. The research states that there is no evidence that employing a floating exchange rate regime compared to a fixed one leads to a higher economic growth for the countries that use this particular policy.

This study examines the Environmental Kuznets Curve (EKC) hypothesis between the levels of air pollution and per capita income growth, considering the largest enlargement of the European Union (EU). Four different measures of environmental quality, SPM, NO X , SO 2 , and CO 2 , are employed for three different country groups: the core fifteen countries of the EU before its largest enlargement, the twenty five EU countries after the enlargement, and the new ten countries that became the members of the EU after this enlargement process. The results present a statistically significant U-shaped EKC relationship between each of the air pollutants and per capita income growth for the core fifteen EU member countries and the twenty-five countries after the enlargement. These findings imply that beyond a certain level of GDP, a further rise in income can only be reached at the cost of environmental degradation. For the third country group of the study, the countries that joined the EU after its largest enlargement, there is no statistically significant evidence for the existence of an EKC in any type.

Our world and the issue of its public administration are undergoing transformations in the form of complex digitization. The ensuing changes are also affecting processes within public administration organizations and include modernization of documentation management. The question remains as to how documentation management can be effectively set up for modern public administration. As such, the research objective of the present paper is the design of documentation management and the audit trail so as to ensure the effectiveness of public administration. From fulfilling this goal, we can hypothetically expect a significant simplification and streamlining of documentation management, which will provide, among other things, information sufficient for conducting auditing activities and ensuring the effectiveness of the public administration system – the audit trail. Analytical testing is used to meet this objective, where documentation processing intervals were measured on a selected sample of 284 documents in the field of public administration organizations. The sample included directives, work procedures, forms, and operating rules that constitute controlled documentation. The conclusions of this research have primarily yielded a schematic workflow of documentation management in public administration. The proposed documentation management workflow will specifically enable public administration to increase efficiency, consistently implement the audit trail, and increase computerization, which will contribute holistically to the development of public administration. Keywords: Administration, Audit, Documentation, Management, Trail

This study examines the treatment effects of inflation targeting on exchange rate volatility across a large panel of 91 (36 inflation targeting) countries over the 1985-2019 period on annual basis. We apply propensity score matching methods to developed, developing, and high-income inflation targeting countries and non-inflation targeting countries. Our results reveal that, on average, adopting the inflation targeting policy exerts lower exchange rate volatility in all sample and developing economies. However, subgroups results demonstrate that inflation targeting regimes may lead to higher exchange rate volatility in developed and high-income economies. The outcome from different degrees of flexibility of exchange rates subgroups points out that the inflation targeting regime has significant and lower exchange rate volatility under free-floating regimes however this policy stance has no discernible effect on floating regimes. Additionally, adopted inflation targeting countries are affected by less damage on exchange rate volatility than those adopting exchange rate targeting regimes.

This study asks whether energy price shocks reach banking-sector credit risk differently across borrower types, combining three elements the literature has used separately: disaggregation by borrower, asymmetric modelling of energy prices, and a formal test of whether the asymmetries differ. Using monthly data for Türkiye, 2005–2026, we estimate nonlinear ARDL (NARDL) models for total, household and commercial non-performing loan (NPL) ratios across seven energy price indicators. The two portfolios respond asymmetrically in opposite directions: a 1 per cent cumulative rise in real consumer energy prices is associated with a 1.86 per cent higher household NPL ratio in the long run—about 0.6 percentage points for a typical year—while declines bring no measurable relief, whereas for commercial loans a 1 per cent cumulative decline is associated with a 3.54 per cent lower ratio and increases with no change. Joint estimation rejects the equality of the two asymmetry gaps (asymptotic p < 0.001; block-bootstrap p = 0.007), and the commercial response is carried by consumer rather than producer energy prices, pointing to a household-demand channel. The long-run elasticities are conditional on a level relationship the bounds test supports only weakly; the asymmetry tests do not depend on it, and the household result is the more securely established. Symmetry cannot be rejected for total NPLs, consistent with the two asymmetries offsetting: aggregate ratios can mask borrower-specific responses, and consumer energy price stability matters for banking-sector asset quality.