Economic Research Forum (ERF)

Cevat Giray Aksoy

Author

Cevat Giray Aksoy
Senior Research Economist, Office of the Chief Economist at European Bank for Reconstruction and Development

Cevat Giray is a Senior Research Economist in the Office of the Chief Economist at European Bank for Reconstruction and Development in London and Assistant Professor of Economics at King’s College London, Department of Political Economy. He is also a Research Fellow at London School of Economics and Research Associate at IZA Institute of Labor Economics. His current research focuses on forced migration (effects on host communities and self-selection of refugees), the political economy of trust (confidence in leaders and governments, civic values, and attitudes towards democratic institutions) and economic inclusion (earnings inequalities and access to banking services). His research has been covered by over 100 media outlets, including BBC, Bloomberg, Business Insider, Financial Times, Forbes, Fortune Magazine, Harvard Business Review, Mirror, Reuters, The Daily Mail, The Independent, The New York Times, The Telegraph, The Times, Quartz, Vox, Wall Street Journal, Washington Post, and World Economic Forum. He is the recipient of the Young Researcher Award from the Association of British Turkish Academics and was selected as a Leader of Tomorrow by The St. Gallen Foundation. He also occasionally contributes to Pocket Economics podcasts and write for GALLUP Blog, LSE Business Review, and VOXEU.

Content by this Author

What is the likely impact of the earthquakes on economic growth in Türkiye?

The earthquakes in Türkiye and Syria in February 2023 have caused widespread destruction and loss of life. As explained in this column, originally published at the Economic Observatory, experiences from a previous earthquake suggest that the impact on GDP in Türkiye is likely to be short-lived, as public spending on reconstruction will provide a substantial economic boost.

The benefits of year-round daylight saving time: evidence from Turkey

Ever since Benjamin Franklin’s observation in the late eighteenth century that people wasted daylight by sleeping after sunrise and squandered wax by burning candles in the evening, energy conservation has been the main motivation for governments to follow ‘daylight saving time’ (DST). Using Turkey’s recent decision to extend DST to the whole year, this column summarises new evidence on how DST affects the consumption and generation of electricity, and related greenhouse gas emissions. The analysis suggests that while total consumption is unchanged, emissions may have gone down due to the policy change.

Life satisfaction in Arab countries

How do people in Egypt, Jordan, Morocco and Tunisia feel about their lives? Summarising analysis of data collected in nationally representative surveys, this column highlights three core messages about their reported health, happiness and views of the future.

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Making trade agreements more environmentally friendly in the MENA region

Trade policy can play a significant role in efforts to decarbonise the global economy. But as this column explains, there need to be more environmental provisions in trade agreements in which developing countries participate – and stronger legal enforcement of those provisions at the international level. The MENA region would benefit substantially from such changes.

Iran’s globalisation and Saudi Arabia’s defence budget

How might Saudi Arabia react to Iran's renewed participation in global trade and investment? This column explores whether the expanding economic globalisation of Iran, following the lifting of nuclear sanctions, could yield a peace dividend for Saudi Arabia, consequently dampening the Middle East arms competition. These issues have attracted increased attention in recent times, notably after a pivotal agreement between the two countries in March 2023, marking the resumption of their political ties after a seven-year conflict.

Global value chains and domestic innovation: evidence from MENA firms

Global interlinkages play a significant role in enhancing innovation by firms in developing countries. In particular, as this column explains, participation in global value chains fosters a variety of innovation activities. Since some countries in the Middle East and North Africa display a downward trend on measures of global innovation, facilitating the GVC participation of firms in the region is a prospective channel for stimulating underperforming innovation.

Labour market effects of robots: evidence from Turkey

Evidence from developed countries on the impact of automation on labour markets suggests that there can be negative effects on manufacturing jobs, but also mechanisms for workers to move into the services sector. But this narrative may not apply in developing economies. This column reports new evidence from Turkey on the effects of robots on labour displacement and job reallocation.

Food insecurity in Tunisia during and after the Covid-19 pandemic

Labour market instability, rising unemployment rates and soaring food prices due to Covid-19 are among the reasons for severe food insecurity across the world. This grim picture is evident in Tunisia, where the government continues to provide financial and food aid to vulnerable households after the pandemic. But as this column explains, the inadequacy of some public policies is another important factors causing food insecurity.

Sustaining entrepreneurship: lessons from Iran

Does entrepreneurial activity naturally return to long-term average levels after big economic disturbances? This column presents new evidence from Iran on trends in entrepreneurship among various categories of firm size, sector and location – and suggests policies that could be effective in promoting entrepreneurial activities.

Manufacturing firms in Egypt: trade participation and outcomes for workers

International trade can play a large and positive role in boosting economic growth, reducing poverty and making progress towards gender equality. These effects result in part from the extent to which trade is associated with favourable labour market outcomes. This column presents evidence of the effects of Egyptian manufacturing firms’ participation in exporting and importing on their workers’ productivity and average wages, and on women’s employment share.

Intimate partner violence: the impact on women’s empowerment in Egypt

Although intimate partner violence is a well-documented and widely recognised problem, empirical research on its prevalence and impact is scarce in developing countries, including those in the Middle East and North Africa. This column reports evidence from a study of intra-household disparities in Egypt, taking account of attitudes toward gender roles, women’s ownership of assets, and the domestic violence that wives may experience from their husbands.

Do capital inflows cause industrialisation or de-industrialisation?

There is a clear appeal for emerging and developing economies, including those in MENA, to finance investment in manufacturing industry at home with capital inflows from overseas. But as the evidence reported in this column indicates, this is a potentially risky strategy: rather than promoting industrialisation, capital flows can actually lead to lower manufacturing value added and/or a reallocation of resources towards industries with lower technology intensity.

Financial constraints on small firms’ growth: pandemic lessons from Iran

How does access to finance affect the growth of small businesses? This column presents new evidence from Iran before and during the Covid-19 pandemic – and lessons learned by micro, small and medium-sized enterprises.