JOURNAL OF LIFE ECONOMICS <p style="text-align: justify;"><em>Journal of Life Economics <strong>(E-ISSN: 2148-4139 &amp; DOI Prefix: 10.15637)</strong></em> is <strong>an international peer-reviewed </strong>and<strong> periodical journal.</strong><em> It aims to create a forum on economic rationale of life. It brings together the views and studies of academicians, researchers and professionals working in economics. The journal aims to include original papers in the main titles of economics. In this framework, high quality theoretical and applied articles are going to be published. </em>The articles in the Journal is published in 4 times a year; WINTER (January), SPRING (April), SUMMER (July) and AUTUMN (October).</p> en-US <p><em>When the article is accepted for publication in the </em><em>Journal of Life Economics</em><em>, authors transfer all copyright in the article to the Holistence Publications</em><em>.</em><em>The authors reserve all proprietary right other than copyright, such as patent rights. </em></p> <p><em>Everyone who is listed as an author in this article should have made a substantial, direct, intellectual contribution to the work and</em><em> should take public responsibility for it.</em></p> <p><em>Th</em><em>is paper contains works that have </em><em>not previously published or not under consideration for publication in other journals. </em></p> (Buse AZLAĞ) (İlknur HERSEK SARI) Mon, 14 Nov 2022 18:36:31 +0300 OJS 60 Asymmetric behavior of oil price shocks and output performance in Africa <p>A comprehensive cross-country dataset is employed in this reseach to examine the impact of oil price shocks and its<br />asymmetry on output in African oil exporting countries (AOECs). Using a panel-VAR model, the study accounted<br />for impulse-response between output and oil price shocks. In addition, through the PVAR model, variance decomposition is performed to assess the importance of those effects and guidelines are offered for policy formation. The study revaled that oil price shocks create heterogeneously asymmetric effect on output. The study revealed the prevalence of Dutch Disease among the AOECs as apparent in the impact of negative oil price shocks on exchange rates and output. The study recommends that policies should be formulated to minimize the effect of oil price shocks on output, especially negative oil price shocks revealed to adversely affect oil revenue (policies aimed at<br />strengthening economic activities through diversification, so as to enhance the export mix). This will reduce the<br />AOECs’ on-going reliance on large revenues from oil, arising from positive oil price shocks which the literature has argued to have a negative and hindering impact on economy, mainly because it impacts the non-oil sector.</p> Mathew Rotimi, Harold Ngalawa, Augustine Adebayo Kutu (Author) Copyright (c) 2022 Holistence Publications Mon, 14 Nov 2022 00:00:00 +0300 Principal component and regression analysis of the natural resource curse doctrine in the Azerbaijani economy <p>The Azerbaijani economy has long been discussed in academic literature with reference to the theories of the natural resource curse (NRC) and Dutch disease. This is due to Azerbaijan’s heavy dependence on the oil and gas<br />industry for its economic growth and development since 1995. While revenues from mineral resources helped overcome extreme poverty and increased GDP and GDP per capita, macroeconomic stability was shaken by the sharp<br />decline in commodity prices in 2014 and 2015. This reality prompted scholars to look into the significance of NRC<br />and Dutch disease in Azerbaijan. This paper therefore aims to contribute to the literature by analyzing NRC using<br />principal component and regression techniques (dynamic and ordinary least squares) in a way that has not been<br />studied before. The results of this study show that the oil industry had a negative impact on institutional quality in<br />Azerbaijan between 1996 and 2019, which may translate into further negative impacts. For this reason, the human<br />capital channel of NRC was tested for possible negative impacts of NRC and several negative associations were<br />found. These results indicate that policymakers need to take the NRC doctrine more seriously. Although the first<br />oil boom (2005–2014) is over, the Azerbaijani economy is facing a second oil boom starting in 2020, and the lowered<br />quality of institutions could significantly reduce the benefits of mineral revenues if left unmanaged.</p> Ibrahim Niftiyev (Author) Copyright (c) 2022 Holistence Publications Mon, 14 Nov 2022 00:00:00 +0300 The impact of sectoral greenhouse gas emissions on economic growth in Turkey <p>This study investigates the relationship between total sectoral greenhouse gas emissions and economic growth in<br />Turkey. The study examines the relationship between sectoral total greenhouse gas emissions of energy, industrial processes and product use, agriculture and waste production between 1990-2020 with Turkey’s economic growth. The ARDL model is used to observe the relationship between the greenhouse gas emissions of each sector and economic growth in the long and short term. The Granger causality test evaluates the causal factors affecting economic growth. The study shows a dependence between economic growth and greenhouse gas emissions caused by the agricultural sector in the long term. In contrast, the greenhouse gas emissions caused by the waste sector show a dependence in the short term and in the causality test. Policies addressing the agricultural and the waste sector should be prioritized to ensure that economic growth does not depend on greenhouse gas emissions. There are many studies in the literature on the dependence of economic growth on greenhouse gas emissions in Turkey. This study uses the econometric analysis method to examine the sectoral structure of dependency and will contribute to the literature regarding sectoral determination.</p> Ali Cem Öztürk, Burcu Yavuz Tiftikçigil (Author) Copyright (c) 2022 Holistence Publications Mon, 14 Nov 2022 00:00:00 +0300 System dynamics model in cargo logistics management <p>Cargomats are very popular lately, thanks to their practical use and the convenience they provide to customers. The<br />aim of this study is to develop a system dynamics model for Kargomat, which is frequently used in cargo logistics.<br />System Dynamics was developed by Jay Wright Forrester at the MIT. In addition to being a field of use for many<br />different disciplines, system dynamics is a frequently used method in stock management. System Dynamics is based on stock and flow. In this study, system dynamics (SD) model was created with Vensim PLE for the planning<br />of cargomat stock. It is possible to analyze different scenarios with the developed system dynamics model. The<br />adequacy of the cargomat’s capacity was examined with the help of the developed system dynamics model. Thanks<br />to the SD model, it is possible to plan the cargo mat stock.</p> Arzu Eren Şenaras (Author) Copyright (c) 2022 Holistence Publications Mon, 14 Nov 2022 00:00:00 +0300