Zamira ÖSKÖNBAYEVA

Proceedings Paper | 2019 | Ecological Agriculture and Sustainable Development

The main purpose of this study is to investigate the causal relationship between trade openness and economic growth using the panel data of 125 countries for the period 1992-2015. For this purpose, a three-stage panel Granger causality test has been employed. Countries were divided into two groups as developed and developing countries. In the first stage panel unit root test has been used in order to explore stationarity properties of the series. Then panel co-integration technique has been employed in order to estimate long-run economic relationships between variables. In the last stage panel causality test has been adopted. Accord . . .ing to the findings obtained there is unidirectional short-term causality running from trade openness to economic growth both in developed and developing countries. Policy makers should implement appropriate economic policies to take full advantages of trade openness More less

Zamira ÖSKÖNBAYEVA

Article | 2015 | International Journal of Recent Advances in Organizational Behaviour and Decision Sciences (IJRAOB) : An Online International (Double-Blind) Refereed Research Journal1 ( 2 )

The place of women in working life is extremely important by reason of the fact that it contributes to an increase in overall family income and accordingly a rise in the standard of living. The female labor force participation rate, which constitutes half of human capital, is lower than men all over the world as well as in developed and developing countries. The aim of this study is to analyze the rate of returns for Kyrgyz women in both the private and public sectors, and also to expose the structure of the rate of education and experience. For this aim, on the ground that homoscedasticity cannot be provided in the case of outliers . . . in the data, the Mincerian earnings equations are estimated via the quantile regression method, which is one of the most robust regression methods, and the results are compared with the LS regression. The estimated models show that the rate of education is rising up to the middle wage levels in the public sector and, on the contrary, decreasing in the private sector. This structure is reversed after the middle wage levels. When the estimated models are compared regarding to the rate of experience, it is observed that even if there is only a small increase in between the period, there is a decreasing tendency in the public sector in general. In the private sector, while a preliminary increasing tendency is seen in the rate of experience, a critical decline is observed beginning from the middle levels, while there are substantial rises in the higher quantiles.- Key words: Wage distribution, mincer equation, quantile regressio More less

Zamira ÖSKÖNBAYEVA

Chapter of Books | 2022 | Advances in Econometrics, Operational Research, Data Science and Actuarial Studies

There is a growing popularity for the nonlinear econometric approaches, since linkages among variables are not always linear. Nonlinear approaches provide a broader range of knowledge compared to the linear model. This research aims to assess the impact of foreign direct investment on pollution. To capture the potential asymmetries resulting from rise and fall in the foreign direct investments, the nonlinear panel autoregressive distributed lag approach is employed. In the empirical analysis, annual data of selected 22 transition economies from 1995 to 2016 is utilized. The findings highlighted the existence of asymmetric linkages a . . .mong variables. In other words, evidence reveals that positive shock in foreign direct investment improves environmental quality, while the negative shock is detrimental to the environment More less

Zamira ÖSKÖNBAYEVA

Article | 2020 | Economics and Business Letters9 ( 3 )

This study aims to explore how changes in explanatory variables may affect the probability of sovereign credit ratings assigned by Fitch, which is assumed to be a binary choice variable. For this purpose annual data of selected developed and developing countries for the period 2002-2016 have been used. In the empirical analysis the binary logit model has been applied. The estimation results indicate that all the explanatory variables are statistically significant in explaining credit ratings. Consistent with prior research, credit ratings are positively related to per capita gross domestic product, the level of economic development . . .and export. In addition, credit ratings are negatively related to inflation, debt and default history.(1 More less

Cusupcan PİRİMBAYEV | Zamira ÖSKÖNBAYEVA

Article | 2015 | Sosyoekonomi23 ( 25 )

Bu çalışma Kırgızistan dış ticaretinin temel belirleyicilerini 2000-2013 dönemine ait aylık verileri kullanarak tahmin etmeyi amaçlamaktadır. Bu amaç için yurtiçi gelir, reel döviz kuru ve para arzı değişkenlerine sınır testi yaklaşımına dayanan ARDL modeli uygulanmıştır. Elastikiyet, massetme ve parasalcı yaklaşımlar karşılaştırılarak, parasalcı ve elastikiyet yaklaşımlarını destekleyen bulgulara ulaşılmıştır. Para arzındaki (LM2) %1’lik düşüş ticaret dengesini %0,51 oranında, reel döviz kurundaki (LREER) %1’lik artış ise ticaret dengesini %1,09 oranında iyileştireceği görülmüştür. Uzun dönemde Marshall-Lerner koşulunun geçerliliği . . .ne, kısa dönemde ise J-eğrisi hipotezinin geçerli olmadığına dair sonuçlar elde edilmiştir More less

Raziyahan ABDİYEVA | Zamira ÖSKÖNBAYEVA

Proceedings Paper | 2016 | International Conference on Eurasian Economies / Uluslararası Avrasya Ekonomileri Konferansı

This study investigates the impact of exchange rate on aggregate output for a group of 10 transition economies using panel simultaneous equation model. The model is estimated by generalized two-stage least squares method. The annual data used in the study cover the period from 1998 to 2014 for selected transition countries which are: Azerbaijan, Kazakhstan, Kyrgyzstan, Belarus, Georgia, Moldova, Russia, Tajikistan, Ukraine and Latvia. The result of the study indicates that there is a relationship between exchange rate and macroeconomic variables under consideration. It can be concluded that output effect of exchange rate changes is . . .contractionary in the first year. In the second year this impact is completely reversed. Thus, the impact of exchange rate on output is neutral in the long run. The findings of the study will provide useful information to researchers and policymakers focusing on exchange rate issues in transition countries More less

Zamira ÖSKÖNBAYEVA

Article | 2015 | The Empirical Economics Letters : A Monthly International Journal of Economics14 ( 7 )

This study investigates the relationship between export and import in the case of Kyrgyzstan by using monthly data for the period of 2000-2013. Simultaneous equation method is implemented to the variables, export, import, GDP, CPI, money supply and exchange rate. Results exhibit that export is positively and statistically significantly effected by domestic income, exchange rate and import and import is positively and statistically significantly impacted by money supply, inflation rate and export. The key finding is that there is empirical evidence disclosing a two-way link between export and import.- Keywords: Exports, Imports, Simu . . .ltaneous Equation Mode More less

Zamira ÖSKÖNBAYEVA

Article | 2019 | Economic Journal of Emerging Markets (EJEM)11 ( 2 )

This study uses a Mincerian earnings function to estimate the effect of education and experience on the wages of women working in developed business and trade center of Bishkek, Kyrgyztan. It employs a robust median regression and M Regression to estimate the functions for both public and private sectors. The paper also estimates the function using a least squared regression for comparison. Findings/Originality: The results show that returns to education for women employees in the private sector are higher than that of in the public sector. In contrast, the returns to experience for women employees in the public sector are higher th . . .an those in the private sector. The study reveals that schooling has strong causal effects on wages. Therefore, the government should give sufficient priority to education. Every Som spent in quality education generates strong positive returns for the whole economy. So that Kyrgyz government should put more efforts to enable individuals staying longer in education More less

Raziyahan ABDİYEVA | Zamira ÖSKÖNBAYEVA

Proceedings Paper | 2015 | International Conference on Eurasian Economies / Uluslararası Avrasya Ekonomileri Konferansı

Renewable energy plays a crucial role in increasing economic growth while reducing carbon dioxide emissions. The aim of this study is to examine the interaction between renewable energy consumption, economic growth and carbon dioxide emissions for selected Middle East and North Africa countries. For this aim, panel vector autoregression approach is used in the study. The annual data used in this study cover the period from 1988 to 2010 for Middle East and North Africa countries. Firstly, second generation unit root test are used to investigate stationarity properties of the variables and second generation panel cointegration test is . . . applied to the data under consideration because of the cross-sectional dependence. Then a panel causality approach is proposed to examine the causal relationship between the variables. Finally, panel vector autoregression model, impulse-response and variance decomposition analysis are applied using generalized moment methods. The finding of this study shows that there is a bi-directional causality between growth and renewable energy consumption, which is consistent with the feedback hypothesis in terms of the energy consumption-growth nexus. It is found the evidence of unidirectional causality from carbon dioxide emissions to renewable energy consumption and from growth to carbon dioxide emissions. It is also found that the responses of growth to a shock of energy consumption are positive and the impact of renewable energy consumption on carbon dioxide emissions is negative. More less

Zamira ÖSKÖNBAYEVA | Aynura TURDALİYEVA

Proceedings Paper | 2011 | International Conference on Eurasian Economies / Uluslararası Avrasya Ekonomileri Konferansı

Input-output analysis is an analytical technique widely used both in developed and developing countries which reflects the production consumption relationships of production sectors of a country’s economy. At the same time it is the macroeconomic analysis tool that defines economic relations of each sector by production and consumption. During the process of globalization all developed and developing country economies are trying to open their economies in order to provide their economic development. However, the openness can lead to negative consequences in some countries such as increasing their external dependence. In this paper i . . .t is aimed to investigate the structure of foreign trade of Kazakhstan and to measure the external dependence of economy. For this purpose, with the help of input-output tables prepared for the period of 2006-2009, the inverse import matrix will be calculated by using coefficients of foreign trade flows, consequently the import quantities necessary to meet final demand and their changes during the period will be examined. According to the results obtained the potential impact of Kazakhstan’s foreign trade structure on both Kyrgyzstan and other Central Asian Turkish Republics will be discussed 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

Zamira ÖSKÖNBAYEVA

Article | 2022 | Economic Computation and Economic Cybernetics Studies and Research56 ( 2 )

With the widespread use of information communication technologies, many people and countries with a lack of technology are growing. The term digital divide is a multifaceted phenomenon. It means the gap between people and countries with access to digital technologies and those with very limited or no access at all.The main purpose of this study is to investigate the factors affecting digital divide in selected transition countries. In the empirical analysis, The Panel Quantile Regression proposed by Machado and Silva (2019) has been applied. Using panel data for 20 countries for the period 1998 - 2014, the findings of this study rev . . .ealed that economic and socio-demographic factors are the main predictors of the digital divide More less