Merkez bankaları özellikle gelişmekte olan ülkelerde döviz piyasasındaki oynaklığı azaltmak veya döviz piyasasında aşırı dalgalanmaya yol açan atakları önlemek amacıyla döviz piyasasına müdahalede bulunurlar. Fakat her müdahale döviz kurunun piyasa tarafından belirlenecek değerinden sapmalara neden olabilir. Bu çalışmanın amacı Türk döviz piyasasındaki arz ve talebin oluşturduğu baskıyı tespit etmektir. Bu doğrultuda ekonomi literatüründe döviz piyasasında oluşan baskıyı ölçmek amacıyla döviz piyasası baskı endeksi kullanılmaktadır. Bu endeks Girton ve Roper yaklaşımı, teorik yaklaşım ve modelden bağımsız yaklaşım olarak üç şekilde oluşturulabilir. Bu çalışmada döviz piyasası baskı endeksi teorik yaklaşıma göre oluşturulmuştur. Endeksin oluşturulmasında dört farklı denklem kullanılmasına rağmen endeksin hesaplanmasında basit para talebi ve göreli satın alma gücü hipotezi denklemlerinin tahmin edilmesi yeterlidir. Analizde çeyreklik veriler kullanılmış olup 1990:01-2017:02 dönemini kapsamaktadır. Tahminlerde kullanılan zaman serileri birim kök içermesine rağmen denklemleri oluşturan serileri arasında eşbütünleşme olduğundan dolayı tahmin aşamasına geçilmiştir. Bu denklemlerde içsel değişken problemi olduğundan dolayı hem basit para talebi hem de göreli satın alma gücü hipotezi denklemleri iki aşamalı en küçük kareler yöntemiyle tahmin edilmiştir. Tahmin sonuçlarına göre özellikle 1993’ün son dönemlerinden 2002’ye kadar döviz piyasasında baskının fazla olmasına rağmen esnek dalgalı döviz kuru sisteminin yerleşmesinden sonra döviz piyasasındaki baskının azaldığı tespit edilmiştir. Ayrıca endeks ekonomik ve siyasi krizlerden önce aşırı dalgalanma gösterdiğinden dolayı, ileride oluşabilecek krizler için öncü bir gösterge olarak kullanılabilir.

The factors influencing the use of renewable energy in ten significant emerging economies (E-10: Argentina, Brazil, China, Indonesia, India, Mexico, Poland, Russia, South Africa, and Turkey) are examined in this study for the years 1990–2021. In order to capture both contemporaneous and intertemporal drivers of renewable energy demand, the analysis uses dynamic panel techniques (GMM) in conjunction with static panel estimations (fixed and random effects), drawing on a balanced panel dataset. The empirical findings highlight the path-dependent character of the energy transition by pointing to a clear persistence effect, in which previous renewable energy consumption significantly and favorably influences current levels. While oil prices and carbon emissions exert adverse pressures, economic growth and financial development are consistently recognized as key facilitators of the adoption of renewable energy. In several specifications, population growth appears as a constraining factor. Both static and dynamic models show that urbanization has a negative impact on the use of renewable energy. Therefore, incorporating renewable energy considerations into urban development policies may help reverse this trend and promote increased use of renewable energy. When combined, the results show how strategically important it is to promote economic growth, strengthen financial systems, and incorporate sustainability into urbanization processes. The urgent need to phase out fossil fuel subsidies, reroute financial resources toward green investment, and fortify carbon mitigation frameworks are among the policy implications. In the end, the evidence favors a multifaceted policy framework for the E-10 nations to hasten the switch to renewable energy.

The sustainability of the current account balance for five fragile economies—Brazil, Argentina, South Africa, India, and Türkiye (namely, BASIT)—is investigated. These countries’ economies operate under a time current account deficit almost all the time, a condition that causes fragility to external shocks; the following fallout from these shocks may risk not only the domestic economy but also the international economy, such as by clogging trade and income distribution. In this study, the sustainability of the current account in BASIT countries is examined via wavelet-based Kapetanios, Shin and Snell (WKSS) and Fourier wavelet-based KSS (FWKSS) unit root tests, in conjunction with linear unit root tests. Even though traditional unit root tests generally support the sustainability of a current account deficit for all countries, a non-linear unit roots test confirms the traditional tests for only India and South Africa. Results from the wavelet transform of non-linear unit root tests indicate the unsustainability of the current account balance, except in the case Türkiye. Moreover, the FWKSS test confirms WKSS.

Over the past seven decades, rapid economic growth has been accompanied by a substantial increase in environmental degradation worldwide. Given the magnitude and transboundary nature of environmental externalities, country-specific policies may be insufficient, and regionally coordinated environmental strategies are likely to be more effective. For such frameworks to succeed, convergence in levels of environmental pressure among member countries is essential. In this study, convergence is examined using the ecological footprint (EFP), a comprehensive indicator of environmental pressure. The analysis covers the six member states of the Gulf Cooperation Council (GCC)—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates—over 1971–2024 and tests for the stochastic convergence of per-capita footprints relative to the year-t regional average. Conventional ADF tests indicate convergence for Kuwait and Qatar—with Saudi Arabia at the 10% level—and Phillips–Perron results point in the same direction. Quantile ADF and Fourier quantile KSS tests with bootstrap inference show that adjustment is regime-dependent and country-specific: mean reversion is confined to below-average states in Bahrain, to above-average states in Kuwait and Saudi Arabia, and to both extremes in Qatar, while the United Arab Emirates and Oman revert to almost no quantile. The Phillips–Sul log-t procedure does not reject full-panel convergence: all six countries form a single convergence club, the result survives leave-one-country-out and cross-sectional-dependence checks, and subsample estimates date the convergence process mainly to the post-1990 period. Component-level analysis shows that aggregate convergence is carried by the carbon component (84–99% of the GCC footprint), whereas cropland, grazing, forest, and built-up components diverge. The findings support regionally coordinated energy–carbon policy combined with nationally tailored land-use policy.