Azamat MAKSUDUNOV

Article | 2022 | International Journal of Housing Markets and Analysis16 ( 6 )

Purpose The housing/real estate sector is one of the most important sectors in any country. However, existing marketing literature on the home buying behavior and the decision-making process is still in the early stage of development. The purpose of this study is to examine the home buying behavior from the consumers' perspective in a high-context culture, namely, Kyrgyzstan and its managerial and/or public policy implications to other countries which are at a similar level of socio-economic development as Kyrgyzstan. Design/methodology/approach Using a questionnaire, data for the study (n 300) is collected from households in Bishke . . .k, Kyrgyzstan. Personal interviews were used to collect data from the four administrative regions of Bishkek. Findings Results of this study show that the physical, environmental and financial dimensions of the homes influenced consumers' home buying intentions. A few statistically significant differences in terms of preferences for the proximity of the property to schools and shopping districts, having public sewer and water connections, and safety characteristics of the neighborhood were found between the first-time homebuyers and the repeat homebuyers. Research limitations/implications The most important limitation of the study is the use of convenience sampling. Although the sample size is reasonably large, the selection of the responses was done based on using convenience and connections. Representativeness of the results may be limited. Practical implications Along with the physical, environmental and financial dimensions of the homes, home buying is a high-involvement decision it is not as much of an emotional purchase but rather a main residence and a good long-term value for Kyrgyz households. Both marketing and social stimuli did not have any statistically significant effect on purchase intentions. Therefore, housing and real estate developers should focus on understanding how their offering meets individual customers' tangible and intangible expectations and assist them in their highly involved decision-making process. Originality/value To the best of the authors' knowledge, this study is the first to conduct an empirical study to analyze the home buying decisions of Kyrgyz households. This study contributes to marketing literature by filling the existing gaps in understanding various facets of the high-context consumers' home buying decision-making More less

Cunus GANİEV

Article | 2018 | International Journal of Development Issues17 ( 1 )

Purpose: The crowding-out and crowding-in effects have been at the core of arguments among economists regarding the influence of government spending on private investment. This study aims to examine the crowding-out (or -in) effect of public spending on private investment in the transition economy of Kyrgyzstan. Design/methodology/approach: The empirical model is an autoregressive distributed lag (ARDL) and the vector autoregression approach (VAR). Monthly data from 2005 to 2013 of the private investment, government expenditures, remittances from abroad and broad money data were used in the empirical analysis. Findings: The authors . . .found that an increase in government purchases leads to rise in private investment. More precisely, the public spending crowds-in private investment at the speed with 2.06 months. On the other hand, despite the fact that remittances to GDP ratio has reached to almost 30 per cent, there is no any statistically significant effect between these variables. On the contrary, it was revealed that the broad money has statistically significant, affirmative effect on private investment. Furthermore, findings of the VAR model support the results of ARDL. The variance decomposition demonstrates that private investment shock accounts for 58.16 per cent in government expenditures, 11 per cent in broad money and 5 per cent in remittances. Originality/value: The results of the study allow policymakers to demonstrate that the growth of national economy of the Kyrgyz Republic may be encouraged by expanding public investment with external source assistance such as grants and international loans. Accordingly, efficient use of those external funds is one of the suggested ways for economic development. Nevertheless, expansionary monetary and fiscal policy may be beneficial for economic growth in Kyrgyzstan More less

Serhat BURMAOĞLU

Article | 2022 | Foresight25 ( 3 )

Purpose The COVID-19 pandemic has disrupted the supply chains, and this brought researchers and practitioners to think about more on circular supply chains (CSC). The CSC concept has been discussed in the literature more than a decade. This study aims to find out the theoretical roots of CSC by analyzing scholarly articles in literature. Design/methodology/approach This paper uses document cocitation analysis for reaching this aim. After retrieving data from Web of Science database, this paper explores data set by considering used references of these publications and clusters them based on their title terms and visualizes them by us . . .ing cosine similarity index. Findings This paper concludes that CSC is mainly discussed along with sustainability, sustainable supply chains and green supply chains, where the focus is integrating circular economy principles to supply chain management (SCM). On the other hand, although resiliency is an essential characteristic of SCM, contribution of CSC to supply chain resilience is neglected in the literature. Research limitations/implications CSC will gain importance in near future to increase national/firm productivity, and findings of this paper will give researchers insights for furthering their studies. Social implications To avoid supply chain and market collapse caused by natural disruptions, supply chain resilience is of paramount importance. According to the findings of this paper, the authors believe that business resilience in COVID-19-restricted environment may have exit point by using circular perspective. Originality/value The importance of CSC has increased due to the disruptions caused by the COVID-19 pandemic. Therefore, this unique study was undertaken to investigate the evolution of this crucial topic with evidence from the literature through a cocitation analysis More less

Zamira ÖSKÖNBAYEVA

Article | 2020 | Applied Economic Analysis28 ( 84 )

Purpose This study aims to examine the hysteresis hypothesis in unemployment using monthly data from 13 countries in transition. Design/methodology/approach Stationarity in the unemployment rate of selected transition economies was analyzed using four different group unit root tests, namely, linear, structural breaks, non-linear and structural breaks and non-linear. Findings The empirical results show that the unemployment hysteresis hypothesis is valid for the majority of transition economies, including Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, the Kyrgyz Republic, Latvia, Lithuania, Poland, Romania and Slovenia . . .. However, the results strongly reject the null hypothesis of unemployment hysteresis for the Kazakhstan and the Slovak Republics. Originality/value This study revealed that, for countries in transition, advanced unit root tests exhibit greater validity when compared to standard test More less

Cunus GANİEV

Article | 2019 | Journal of Financial Economic Policy12 ( 1 )

Purpose The global financial crisis hit the economy of the Kyrgyz Republic by the third wave of its transmission in early 2009. The purpose of this study is to examine the impact of the global financial economic crisis on the transition economy of the Kyrgyz Republic. As there is a low level of the Kyrgyz Republic's integration into the global financial and economic processes, it is obvious that channels of transmissions are different. Design/methodology/approach The empirical model is the vector autoregression approach. The quarterly data from 2005 to 2013 of the remittances from abroad, trade volumes, exchange rates, credits, d . . .eposits and liquidity of the banking system, gross domestic product (GDP) and foreign direct investment (FDI) were used in the empirical analysis. Findings The authors found a significant positive relation between transmission channels such as remittances flow, banking sector, international trade and GDP within the first six months. Thus, a decline in the aforementioned variables has a significant affirmative effect on the country's GDP. Notwithstanding, the exchange-rate channel adversely influences GDP. Thereby, the depreciation of the national currency leads to an increase in GDP. Originality/value The study findings allow the Kyrgyz policymakers to foresee the global crisis transmission through the primary channels of transmission mechanism. Nevertheless, a decrease of the deposit level by 1 per cent leads to 2.91 per cent decline in FDI inflows. On the contrary, an increase of the exchange rate by 1 per cent leads to 1.54 per cent decrease in imports More less

Serhat BURMAOĞLU

Review | 2022 | International Journal of Productivity and Performance Management72 ( 8 )

Purpose The authors posit that one of the key enablers of the circular economy will be the digital transformation - in other words, digitalization. In this study, the authors examine and visualize the interaction of the circular economy and digitalization by using scientific publications. They explore possible synergies and future research avenues at this junction. Design/methodology/approach The authors first apply bibliometrics to explore and visualize the relationships between the circular economy and digitalization in the academic literature. Following the clustering of topics, they define key emerging factors for each cluster. . . .Based on this analysis, they suggest future research avenues. Findings The authors find that there are four main clusters at the junction of circular economy and digitalization, including (1) sharing economy, (2) additive manufacturing, (3) business models and (4) industrial ecology and remanufacturing. They then dig deeper into these topics to better understand what factors would shape the future of the clusters. They conclude that sharing economy perspective and additive manufacturing may be enhanced by regulation-based and behavioral change-based approaches. Circular business models should be developed to maintain circularity in industry. Finally, digital manufacturing should be implemented within the framework of industrial ecology and remanufacturing principles to increase efficiency, productivity and traceability in the circular economy. Originality/value Digitalization offers significant potentials toward breakthrough sustainability by creating a circular economy. Hence, understanding the relationship between circular economy and digitalization is important to achieve sustainable development goals More less

Kamalbek KARIMŞAKOV | Burulça SULAYMANOVA

Article | 2019 | International Journal of Manpower40 ( 8 )

Purpose The purpose of this paper is twofold: first, it analyses the relationship between educational level, the school-to-work transition period for youth and positions which suffer from an education-job mismatch in Kyrgyzstan; and second, it investigates the effect of the education-job mismatch on the wages of youth in Kyrgyzstan. Design/methodology/approach The study uses the International Labor Organization 2013 data from the school-to-work transition survey for Kyrgyzstan. The Kaplan-Meier failure analysis is employed to demonstrate the relationship between school-to-work transition and mismatch status. To investigate the effec . . .t of an education-job mismatch on wages, a Mincer-type equation with OLS estimations is used. Along with this, taking into consideration potential unobserved heterogeneity issue, a propensity score matching method is applied. Findings The results indicate a large difference between those with tertiary education and those with non-tertiary education in terms of the probability of being employed with a wrong match. Young individuals without tertiary education are more likely to be employed with a right match. Analysis of the impact of overeducation on wages shows that the impact of overeducation depends on how it is measured. According to the objective approach, overeducated male individuals receive low wages compared to well matched, but estimation results based on the total sample of subjective approach indicate the positive effects of overeducation on wage. Originality/value This paper contributes to the existing literature on the school-to-work transition and overeducation by focusing on one of the transition economies, which has been largely neglected by the literature More less