Assoc. Prof. Dr. Murteza Ocaklı
Macroeconomist · Editor · Columnist

Assoc. Prof. Dr. Murteza Ocaklı

Also published as Mortaza Ojaghlou

Head of the Department of Economics and Finance

Faculty of Economics and Administrative Sciences, Istanbul Aydın University

Editor-in-Chief, Bosphorus Review of International Commerce and Social Sciences (BRICS)

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About

I am Murteza Ocaklı, also known in international publications as Mortaza Ojaghlou, an Associate Professor of Macroeconomics at Istanbul Aydın University, where I lead the Department of Economics and Finance and its Turkish- and English-language programs. My research applies modern time-series and panel econometrics to questions at the intersection of climate policy, international trade, innovation and monetary economics, with a particular focus on Türkiye, emerging economies and the BRICS world.

Alongside academic research and teaching, I serve as Editor-in-Chief of the Bosphorus Review of International Commerce and Social Sciences, review for international journals, and write regularly on the global economy and geopolitics as a columnist for Aydınlık.

Research Areas

Climate & Energy Economics

Climate policy uncertainty, renewable energy transition, the EU Carbon Border Adjustment Mechanism (CBAM) and green innovation.

International Trade & Geopolitics

Sanctions-induced trade reorientation, geopolitical alignment, export quality and Türkiye's structural trade dynamics.

Innovation & Development

National innovation systems, manufacturing capability, and China's development model and the middle-income trap.

Monetary & Financial Economics

Payment digitalization and monetary-policy transmission, card spending and e-commerce dynamics in Türkiye.

Defence & Growth

Panel evidence on the macroeconomic effects of defence spending.

Methods

Fourier-ARDL, NARDL, TVP-VAR, Markov-switching models, System GMM, DEA and large patent/firm/trade panels.

Publications

26Articles & chapters
2Books published
2019Publishing since

Books

2026Matematiksel İktisat (Mathematical Economics). Filiz Kitabevi, İstanbul.
2019Current Issues in Economy and Management: Multidisciplinary Perspectives. Peter Lang. DOI
In preparationKademeli Dönüşüm: Çin'in Pragmatik Kalkınma Modeli ve Orta Gelir Tuzağı Sınavı. Academic book (in Turkish).
In preparationGame Theory: a three-volume English-language textbook.

Journal Articles & Book Chapters

2026

“Climate policy uncertainty, renewable energy transition, and sustainable economic development: Evidence from Türkiye using the Fourier-Augmented ARDL and TVP-VAR models.” Sustainable Futures. DOI
“U.S. Sanctions on Iran's Economy and Its Subsequent Effects on Trade Relations Between Türkiye and Iran.” İran Çalışmaları Dergisi. DOI
“Carbon, Green Growth, and Renewable Energy in the Stability Nexus: The Conditional Role of Institutional Quality in a Fourier-ARDL Framework.” Sustainability and Climate Change. DOI
“Time-Varying and Multi-Scale Dynamics Between Renewable Energy, Oil Prices, Climate Policy Uncertainty and CO2 Emissions.” Sustainability. DOI
“Global Uncertainty and Tourism Stock Performance: Evidence from China–US Markets.” GeoJournal of Tourism and Geosites. DOI

2025

“Analyzing the impact of oil imports on air pollution proxied by PM2.5 concentrations in China.” Management of Environmental Quality. DOI
“Empirical Linkages Between Democracy and Economic Growth: The Case of Türkiye.” Economics and Sociology. DOI
“Is there a relationship between financial development and geopolitical risk indices and sustainable development goals? A study on E3 countries.” Panoeconomicus. DOI
“Modeling structure of inflation in Türkiye: DCC-GARCH and Markov switching model.” Journal of Financial Economic Policy. DOI

2024

“AB27–Türkiye Emtia Ticareti ve J-Eğrisi: Asimetrik Analizinden Yeni Kanıtlar (Plastik Sektörü Örneği).” Maliye Finans Yazıları. DOI
“Defence Spending, Economic Growth and Regional Balance: Evidence from Azerbaijan and Armenia.” Bulletin of Economic Theory and Analysis. DOI
“Co-movements Between Bitcoin and Gold: Multivariate BEKK-GARCH Models.” Studies in Computational Intelligence (Springer). DOI
“Impact of liberalization and globalization on economic growth: Empirical evidence from Türkiye.” Journal of International Studies. DOI
“The Society of Saint Pius X: Ideological Roots and Global Impact.” SSRN Working Paper. DOI

2023

“Bitcoin ile Borsa Endeksleri ve Seçili Finansal Varlıklar Arasındaki Uzun Dönem Asimetrik İlişkisi: Kırılgan Beşli Ülkeler Örneği.” Abant Sosyal Bilimler Dergisi. DOI
“The Evaluation of Turkey's Foreign Trade during COVID-19.” Fiscaoeconomia. DOI
“Economic Activities and Management Issues for the Environment: An Environmental Kuznets Curve (EKC) and STIRPAT Analysis in Turkey.” Resources. DOI
“Is there a J-curve under COVID-19 effects?.” China Economic Journal. DOI
“Urbanization and climate change: Environmental Kuznets Curve (EKC) and STIRPAT analysis for Turkey.” Economics & Sociology. DOI

2021

“An Analysis of the Relationship between Inflation and Gold Prices: Evidence from Turkey.” Bulletin of Economic Theory and Analysis. DOI
“Turizm ve Sanayisizleşme Süreci: Türkiye Örneği (Tourism and De-industrialization: The Case of Turkey).” Türk Turizm Araştırmaları Dergisi. DOI

2020

“Dynamic Effects of Macroeconomic Fundamentals on Stock Market Movements: Evidence from BIST100.” Bulletin of Economic Theory and Analysis. DOI
“Structural VAR Model Analysis of the Impact of Monetary Policy Decisions on BIST100.” İktisadi İdari ve Siyasal Araştırmalar Dergisi. DOI
“Tourism sector and Dutch disease: The case of Turkey.” Book chapter in Current Issues in Economy and Management: Multidisciplinary Perspectives (Peter Lang).
“Türkiye'de Para Talebi Fonksiyonu ve Faiz Oranının Simetrik Etkisi.” Florya Chronicles of Political Economy. DOI

2019

“Tourism-Led Growth and Risk of the Dutch Disease: Dutch Disease in Turkey.” International Business Research. DOI

Profiles: Scopus · Google Scholar · ORCID

Editorial & Academic Service

Editor-in-Chief

Bosphorus Review of International Commerce and Social Sciences (BRICS) — international, diamond open-access journal (no APCs), published biannually in June and December with an editorial board spanning more than ten countries.

Head of Department

Department of Economics and Finance, Istanbul Aydın University (Turkish & English programs).

Peer Reviewer

Reviewer for international journals including Sustainable Development (Wiley) and Cogent Economics & Finance.

Supervision

Supervising graduate theses in applied macroeconomics and time-series econometrics.

Teaching

MAT131 MathematicsIST203 Statistics IMathematical EconomicsMacroeconomicsEconometricsGame Theory

Public Commentary

I write a regular column for Aydınlık on the global economy, Western trade and climate policy, Türkiye's economy and Middle Eastern affairs — including analyses of the Paris Agreement and the EU CBAM.

I also host the YouTube series Economy & Geopolitics and appear regularly as a commentator on television programs such as On4 TV and EKOTÜRK TV.

Read my columns on Aydınlık →   Watch on YouTube →