Asymmetric relationship between global and national factors and domestic food prices:evidence from Turkey with novel nonlinear approaches

This study investigates the asymmetric relationship between global and national fac-tors and domestic food prices in Turkey,considering the recent rapid and continuous increase in domestic food prices.In this context,six global and three national explana-tory variables were included,and monthly data for the period from January 2004 to June 2021 were used.In addition,novel nonlinear time-series econometric approaches,such as wavelet coherence,Granger causality in quantiles,and quantile-on-quantile regression,were applied for examination at different times,frequencies,and quan-tiles.Moreover,the Toda-Yamamoto(TY)causality test and quantile regression(QR)approach were used for robustness checks.The empirical results revealed that(i)there is a significant relationship between domestic food prices and explanatory variables at different times and frequencies;(ii)a causal relationship exists in most quantiles,excluding the lowest quantile,some middle quantiles,and the highest quantile for some variables;(iii)the power of the effect of the explanatory variables on domestic food prices varies according to the quantiles;and(iv)the results were validated by the TY causality test and QR,which show that the results were robust.Overall,the empiri-cal results reveal that global and national factors have an asymmetric relationship with domestic food prices,highlighting the effects of fluctuations in global and national variables on domestic food prices.Thus,the results imply that Turkish policymakers should consider the asymmetric effects of global and national factors on domestic food prices at different times,frequencies,and quantiles.

Cooperation Between Co-operative Business Organization and Investor Owned Firm to Stimulate Economic Growth of a Country： A Cooperative Advantage Approach

This study elaborates that the economic growth of a country depending on not only the business performance of the investor owned firms （IOFs）, but also the business surplus of the cooperative organizations （Co-ops）. The policy maker should have the level of understanding and competence to blend five different factors related to organizational structure and business model of the Co-ops and the IOFs to the five similarities factors on the managerial approach of them into one marked. The study investigated five similarities factors and included into a conceptual structural model with its six measurement models, economic growth model, general national factor model, market and industry factors model, Co-ops/IOFs opportunities/threat model, Co-ops/IOFs strength /weakness model, and lastly the Co-ops/IOFs firm dynamic/active： sales, profit, and lost model. Reliability of the six similarities measurement models was tested by the Delphi technique with a sample of 33 respondents. The study found that, apart from the six measurement models, it also has two intervening factor variables that will reduce the power and magnitude of the economic growth which will come from mismanagement of policy maker： These factors are the different in intemational culture among countries, and the global warming and natural disaster from the excess consumption and excess production. These selfish, competition and economic greedy of people will lead to economic, social, and natural disaster problems. To reduce the socioeconomic disadvantages and global disaster, board＇s committee, and Co-ops manager as well as chief executive officer （CEO） of the IOFs must have a good understanding on these five similarities factors. Appropriate management of these five similarities factors will lead the firms to reach their high managerial efficiency, customer value, firm value, and finally economic growth.