JOURNAL OF LIFE ECONOMICS <p style="text-align: justify;"><em>Journal of Life Economics <strong>(E-ISSN: 2148-4139 &amp; DOI Prefix: 10.15607)</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> RATING ACADEMY Ar-Ge Yazılım Yayıncılık Eğitim Danışmanlık ve Organizasyon Ticaret Ltd. Şti. en-US JOURNAL OF LIFE ECONOMICS 0000-0000 <p><em>When the&nbsp; article is accepted for publication in the </em><em>Journal of Life Economics</em><em>, authors transfer all copyright in the article to the </em><em>Rating Academy </em><em>Ar-Ge Yazılım Yayıncılık Eğitim Danışmanlık ve Organizasyon Ticaret Ltd. Şti</em><em>.</em><em>The authors reserve all proprietary right other than copyright, such as patent rights.&nbsp;</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> ESTIMATION OF THE SECTORS OF THE INVESTMENTS MADE ON VENTURE CAPITAL COMPANIES WITH ARTIFICIAL NEURAL NETWORKS AND MULTIPLE LOGISTIC REGRESSION ANALYSIS <p><em>Venture capital companies undergo three different phases as core, growth and maturity phases as of their establishment. There are different stages in these phases in terms of providing the finance. The stage of providing finance for the first introduction of the product to the market in the core phase is called Serial A, the stage of providing the increasing finance need during the continuation of the growth is called Serial B and the stage of providing the finance needed in the growth and maturity phases is called Serial C and it continues as Serial D. In this study, it has been aimed to estimate the sectors of the venture capital companies by benefiting from the phases and amounts of the investments made by the investors to the venture capital companies. In the study, 5 sectors with the highest investment from investors have been selected and the investment data of 709 venture capital companies taking place in this sector have been benefited. Artificial Neural Networks and Multiple Logistic Regression Analysis have been used in the estimation of the sectors covering the companies with the data attained from the investment series. When the attained results have been examined, it has been determined that the results attained with Artificial Neural Networks are more successful than the results attained with Multiple Logistic Regression analysis.</em></p> <p><em><strong>Jel Codes:</strong> C38, C39, C45, G24, L26 </em></p> Kubilay ERİSLİK Özlem DENİZ BAŞAR Copyright (c) 2020 Rating Academy 2020-10-31 2020-10-31 7 4 297 308 10.15637/jlecon.7.022 THE EFFECT OF INFORMATION AND COMMUNICATION TECHNOLOGIES ON LABOR EFFICIENCY IN OECD COUNTRIES <p><em>Information and communication technologies have gained importance with the increase in computer usage and the rapid spread of the Internet after 1980. Productivity in the economy has increased considerably with the spread of information and communication technologies. Economies have turned to using information and communication technologies in order to develop and expand their market shares, to produce at less cost and to increase productivity.</em></p> <p><em> In this study, it is aimed to investigate the causality relationship between developments in information and communication technologies and labor productivity with the causality analysis of Konya (2006), which is the Bootstrap Panel causality test, for 1985-2010 period and OECD countries with data. The results obtained differed from country to country. While significant causal relationships have been identified in some countries, no causal relationship has been identified in some countries.</em></p> <p><em><strong>Jel Codes:</strong> J23, O33, D21</em></p> Yağmur AKARSU Serdar KURT Nur DİLBAZ ALACAHAN Copyright (c) 2020 Rating Academy 2020-10-31 2020-10-31 7 4 309 322 10.15637/jlecon.7.023 JAMAICAN CRIME AND ECONOMY <p><em>This research paper examines an overview of literature on the most recent issues that are allied to crime and violence in Jamaica. They have been an issue which has affected the Caribbean as a whole but due to the islands many social and economic problems, it has shown an increase in crime and violence most noticeably in Jamaica. This issue has caused millions of people to live in fear due to the constant and never-ending crime and violence. The horrors of violence and crime has undoubtedly had a more profound and significant negative impact on the young population. My research will focus on the aspects of violence and crime in Jamaica. This paper will also cover the general conditions in Jamaica, the organized crime and the conventional violence, and how the impact of the crime has had an effect on economic growth. My conclusion will focus on the policies which these countries have to change that will significantly reduce crime and violence and as a result will provide a better social and economic future for all of its citizens. The aim of this research is to have a broader understanding about crime and violence in Jamaica and to raise global awareness about their conditions and the humanitarian problems.</em></p> <p><em><strong>Jel Codes: </strong>A13, E71</em></p> Seda YAZGAN HADZIBULIC Copyright (c) 2020 Rating Academy 2020-10-31 2020-10-31 7 4 323 330 10.15637/jlecon.7.024 ASSESSMENT OF THE POSSIBILITY OF A MIDDLE-INCOME TRAP IN TURKEY <p><em>Turkey has been under the middle-income country category according to the income category classification of the World Bank. Turkey promoted to high-middle-income group in 2005 after spending more than 50 years in lower-middle-income group. The purpose of this study is to identify the presence of middle-income trap in Turkey. The study brings together the most recent theoretical studies from different perspectives with respect to the presence of MIT in Turkey along with Robertson and Ye approach in the empirical phase. Within the context of this study, structural break unit root test using current data obtained through the Atlas method is applied in order to evaluate Turkey’s middle-income trap status. The GNI per capita Atlas Method (current US $) data of the World Bank for the years 1967-2016 are used in the study. The empirical analysis briefly showed that Turkey is not in the MIT.</em></p> <p><em><strong>Jel Codes:</strong> D31, C40, E01, O500, O470, C22</em></p> Ali Cem ÖZTÜRK Burcu YAVUZ TİFTİKÇİGİL Copyright (c) 2020 Rating Academy 2020-10-31 2020-10-31 7 4 331 348 10.15637/jlecon.7.025 MONETARY AND FISCAL POLICIES EFFECT ON HEALTH SECTOR AND TURKEY REVIEW <p><em>In this study, the effects of monetary and fiscal policies on the health sector aims to examine the example of Turkey. </em></p> <p><em>As a result of the study, it is seen that the fiscal policy is more effective than the monetary policy because the coefficients of the variables in which the fiscal policy is represented are larger than the coefficients of the variables in which the monetary policy is represented . In the study, two different models were used to determine the effects of monetary and fiscal policy in order to examine the effects of monetary and fiscal policy on the health sector. Firstly, cointegration analysis was done through the established models, and then, the VAR model, the relationships between variables, error correction model (VECM) and Impact-Response analysis were applied. As a result of the research, it was seen that fiscal policies are more effective and sensitive policies on the health sector compared to monetary policies.</em></p> <p><em><strong>Jel Codes: </strong>E52, E62, I11, 023</em></p> Zahide AYYILDIZ ONARAN Esra BAL YILDIZ Copyright (c) 2020 Rating Academy 2020-10-31 2020-10-31 7 4 349 360 10.15637/jlecon.7.026 THE RESTRUCTURING OF THE ADMINISTRATIONAL-ORGANISATIONAL APPROACHES OF BUSINESSES IN THE PROCESS OF INDUSTRY 4.0 <p><em>Industrial revolutions have long since been mandatory for humanity in order to adapt to the age and innovations, resulting in the search of new ways to sustain productivity. Regardless of the line of business or the historical background of a sector, the concept of industrial revolution underlies the historical development of all sectors. The main reason is that production sustainability occurs when humanity presents their products at the same time announcing them. Consequently, new ideas, creations and revolutions can develop. Based on this, the first Industrial Revolution developed as a direct result of mechanisation while the Second Industrial Revolution developed as a result of electricity, and the Third Industrial Revolution developed as a direct result of computerisation. </em></p> <p><em>Nowadays, the Fourth Industrial Revolution aims to transform Internet of Things and Internet of Services into production. In the near future, enterprises will adapt to these innovations and hence improve their technologies, managerial and organisational perceptions, administrative levels, decision-making and logistic systems, as well as production facilities by means of developing global networks as part of Cyber-Physical Systems. Thanks to Cyber-Physical Systems, enterprises will carry out information production, control function, smart machines and storage systems independently within the production environment. This system will provide a rapid development of concepts like production, engineering, material procurement, industrial processes, supply chain, and life-cycle systems.</em></p> <p><em>Therefore, the aim of the present study is to theoretically analyse how managerial and organisational perceptions of enterprises undergo changes following the adoption of Industry 4.0 using literature review, which is defined as second-hand data, and to discuss the issues considering the restructuring of management-organisation of enterprises in accordance with this developing trend.</em></p> <p><em><strong>Jel Codes:</strong> M10, M12, M13</em></p> Naci Atalay DAVUTOĞLU Copyright (c) 2020 Rating Academy 2020-10-31 2020-10-31 7 4 361 372 10.15637/jlecon.7.027