Durmaz, Atakan; Akkuş, Ömer

In this study, the effects of international sanctions imposed by the United States (US) and multinationalinstitutions (European Union (EU) and the United Nations (UN)) on the external debts of less developed or/anddeveloping countries are empirically assessed. Our sample includes 44 countries experienced internationalsanctions over the period 1976-2014. According to the results, the sanctions significantly increase the externaldebt of the target country. Moreover, if the targeted countries increase government expenditures against thesesanctions, it is seen that the tendency of these sanctions to increase external debt is lower in sanctioned periods.Adding to these, the effect of the type of regime in targeted countries on external debt varies according to thestate of government expenditures.

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Okur, Fatih; Akkuş, Ömer; Durmaz, Atakan

This study investigates on which channels the monetary transmission mechanism works effectively. In this context, quarterly data for the period 2005-2017 is used for Turkey and the variables used to determine the efficiency of the monetary transmission mechanism are analyzed by the VAR method. The obtained results indicate that the loans and reserves have a more effective role on the inflation as a channel of the monetary transmission mechanism. According to the long run results, while the exchange rate and reserves channel have a negative effect on the real GDP, it is revealed that loans have a positive effect on the real GDP in the long run stabilization.

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