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    The Impact of British Pound/American Dollar Parity on Global Gold Prices (1792-2020)
    (2020) Cetin, Huseyin; Altun, Nihal
    Purpose – In that study, the goal is to unravel the effect of British Pound / US dollar parity from 1792-2020 on global gold prices.Design/methodology/approach Robust-M test, VAR impulse response analysis, Johansen cointegration method, Markov regime switching method, least squares with breaks method, filtered regime probability methods were applied. Not only data were analyzed for the aggregate period(1792-2020); data were also analyzed for different periods. For each different period, econometrical methods were implemented.Findings – Pound / USD parity had an adverse effect on the fluctuations in global gold prices, according to the Robust-M test. In least squares with breaks method and Markov switching regression model, in each state, the Pound/USD parity impact on global gold prices are different. For after the Bretton Woods period, filtered regime probability analysis unearthed that there was a regime change during the 2008 global financial crisis. It can be indicated that the Pound/USD parity regime's impact on global gold prices has not changed until the 2008 global financial crisis. Moreover, VAR based impulse response analysis result is similar to the least squares with breaks results for after the Bretton Woods period. After the Bretton Woods regime, no long term relationship was found between Pound/USD parity and global gold prices that are priced by USD. With the flow of time, the positive impact of Pound/USD parity grew from 1974-2020 as global gold prices shifted. Between 2009-2020, the parity had a significant positive influence on global gold prices. It can be indicated that appreciation of Pound against USD led global gold prices to increase fast after the 2008 global financial crisis. Discussion – The research results correspond with Sjaastad (2008)'s theoretical approach. Since global gold prices are priced in USD, Pound had significant importance on USD priced global gold prices. Stability between Pound and USD is significant to have a sustainable global economy. If that stability does not exist in the global economic system, gold prices can rise fast, and that can lead to inflation rates to increase across the world. Moreover, in the future, new steady bitcoins can be used as hedging tools.
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    The Impact of ICT Patents on OECD Countries’ Banks Risk Indicators and Discussion on the Use of Robotic Communication and Smart Glasses in the Banking Sector
    (2020) Cetin, Huseyin
    The main objective of that research is to find out the influence of ICT patents on OECD banks’ riskindicators such as cost/income, return on assets, and return on equity between the period of 2005-2013. Otherobjectives are to research current applications of robotic technologies and smart glass usage in the bankingsector; and to discuss probable applications of robotic applications and smart glass usage in banking operations.Panel quantile regression analysis was implemented to unearth the impact of ICT patents on cost/income ratiosof OECD countries’ banks. In addition, Bayesian impulse response analysis was used to find the one standarddeviation positive shock of OECD countries’ banks ICT patents on the risk indicators of OECD countries’banks. Johansen panel cointegration analysis was implemented for the long term relationship betweencost/income and ICT patents. Since no data were available for robotic applications and smart glasses usage inthe banking sector, empirical analyses for robotic applications and smart glasses were not done. According tothe panel quantile regression analysis result, ICT patents had a significant negative influence on OECDcountries' banks cost/income ratio between 2005-2013. Bayesian impulse response analysis was implementedfor return on assets, return on equity, cost/income ratio. The positive impact was found for return on asset,return on equity, and the negative effect was found for the cost/income ratio. ICT patents positive innovationimpact has more influence on return on equity with respect to return on assets. Johansen panel cointegrationtest unearthed that there is a long-term relationship between ICT and cost/income ratios. It can be indicatedthat ICT patent production is useful for diminishing banks' costs. Moreover, robotic communication in bankscan enhance the banking sector cost efficiency. Robotic communication with other banks and inside the bankcan have an important influence on the development of the banking sector. Besides, it is possible that banksemployees can use smart glasses. Smart glasses can be used for fraud detection, such as diagnosis of fakechecks (Deloitte,2016). Currently, smart glass technology is immature; when the smart glass technologybecomes mature, bank employees can use that technology.
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    The Relationship Between Cryptocurrencies and the Trade Balance of Nigeria
    (2024) Cetin, Huseyin; Sürmen, Yunus Emre
    Bitcoin has increased rapidly in value since the first day of its integration into today's markets. The increases experienced have directed the interest of global investors to this field over time. In addition to these developments, the increasing popularity of blockchain technology and the increase in the volume of cryptocurrencies have turned these currencies into an important tool for commercial activities. Although there are many studies to measure the international trade balance with exchange rates, no study has been found to examine the relationship between the change in cryptocurrency prices and the trade balance of countries. In this study, the relationship between the trade balance of Nigeria, one of the leading countries in the world in terms of cryptocurrency usage, and cryptocurrencies is analysed using NARDL analysis with coefficient symmetry test (2016/M4-2020/ M12). According to the research results, Bitcoin and Litecoin can have significant long-term impact on Nigeria's trade balance.