Distinguished Scholars,

We are honoured to invite you to the 1st International Conference on the Contemporary Issues in Finance, Trade and Macroeconomy (ICOFINT), which will be held at the Hilton Istanbul Kozyatagi Hotel on April 4-5th, 2020, Istanbul/Turkey. The finance-real economy nexus at micro and macro levels continues to garner the attention of professionals and academics alike as the importance of connections between these fields has become increasingly well understood. The recent developments in the international economics and politics, associated trade wars, slowing global growth and risks to financial stability and vulnerabilities of monetary and fiscal authorities are crucial and debatable areas. In addition to these economic and financial issues, the dawn of fourth industrial revolution is breaking and artificial intelligence, blockchain and deep learning are emerging technological with crucial social, economic, political and financial implications.

The 1st International Conference on the Contemporary Issues in Finance, Trade and Macroeconomy (ICOFINT) brings together international scholars and policy-makers to present and discuss research on the frontiers of knowledge in the interconnected fields of Finance, Trade and Macroeconomy. The themes of this year’s conference are Financial Stability, Risks to the Global Growth, Financial Integration, Trade wars and Tensions, 4th Industrial revolution, Innovations, Artificial Intelligence, Blockchain & their implications forbusinesses and society.


Prof. Dr. Gülçin Özkan

Prof. Dr. James Forder

Dr. Dirk Meissner

Prof. Dr. Hadi S. Esfahani

Prof. Dr. Qaisar Abbas

Topics and Congress Committees

  • Blockchain Technology and Finance
  • Capital Structure and Firm Performance
  • Cryptocurrencies and the Social Costs
  • Cryptocurrenciesand Risk Management Implications
  • Crypto-governance and Sustainable Crypto Business
  • Dependence and Contagion between Emerging and Developed Markets
  • Development of Blockchain in various Sectors
  • Derivatives and Portfolio Optimization
  • Econometrics and Financial Markets
  • Effect of Globalization on Financialization
  • Economic, Social and Environmental Aspects of Finance
  • Energy Market Mechanics and Shock Transmission
  • Exchange Rate Determination and the Macroeconomy in an Era of Globalization
  • Financial Markets for Commodities and Derivatives
  • Financial Markets and the Macroeconomy
  • Finance: Frontiers and Future Development
  • Financialization and Financial Markets
  • Finance and Technology Policy
  • Financial Planning, Modelling and Forecasting
  • Financialization and Monetary Policy
  • Financial Regulation and Systemic Risk
  • Credit Spreads with Dynamic Debt
  • Financialization and Tax Policies in Developed Countries
  • Financialization and Sustainable Development in Developing Economies
  • Finance, Financial Regulationsand Income Inequality
  • Financial Markets and Trading Strategies
  • Financing Mergers and Acquisitions
  • Financial Economics of Managerial Accounting and Corporations
  • Financial Markets Risks: Assessment and Modelling
  • Financial and Economic Analysis of Emerging Financial Markets
  • Financial Regulation of Commodity Markets
  • Finance and Investment in Renewable(s)
  • Financial Issues Affecting Resource Security
  • Finance, Behavioural Finance and International Banking
  • Globalisation of Capital Markets and Financial Markets
  • Historical Asset Price Shocks and their Changing Effects on the Economy
  • Leaders, Followers, and Equity Risk Premiums in Booms and Busts
  • Monetary and Fiscal Policy and Internationalisation
  • Market Deregulation and Financial Stability
  • Multi-fractal, Time-Varying Correlations among Financial Instruments & Monetary Policy
  • Natural Resources and Financial Development
  • Nexus of Financial Economics and Econometrics
  • Policy Instruments, Oil Futures and Stock Market Correlations
  • Portfolio Optimization Including Commodities Derivatives
  • Pension Funds and Interest Rates
  • Pricing, Hedging, and Risk Analysis of Crypto-currencies
  • Poverty and Financial Reforms
  • Pricing Models for Derivatives
  • Religiosity and Cost of Debt
  • Returns to Scale in Finance
  • Risk, Financial Stability and Banking
  • Riskiness-Minimizing Spot-Futures Hedge Ratio
  • Regulations, Taxation and Subsidies in Financial Markets and the Macroeconomy
  • Speculation and Financial Markets
  • State Regulations, Finance and Governance
  • Shareholder Activism of Public Pension Funds: The Political Facet
  • Variance Risk in Commodity Market
  • Art of Deal in the age of Populism
  • Competitive Devaluation
  • Capital Flows & Sudden Stops
  • Emerging Markets Trade & Finance
  • Exuberance Privilege of Dollar in 21st Century
  • Emerging Markets and International Trade Flows
  • Financial Contagion, Globalization Era and Exchange Rate Regimes
  • Global Banking and the Conduct of Macro-prudential Policy in a Monetary Union
  • International Debt, Open Economy Macroeconomics
  • International Trade and Trumponomics
  • Inequality &International Trade
  • Regional integration
  • Role of IMF in 21st Century
  • Reciprocity in International Trade
  • Trade and Economic Development
  • Trade Wars
  • Trade Agreement & Non-agreements
  • Tariffs and Non-Tariffs Barriers
  • Trade and Payments Imbalances
  • Winners and Losers of Globalisation
  • Business Cycles and Macroeconomic Policies
  • Business Uncertainty and Investment
  • Bank Liquidity Creation and Real Economic Output
  • Commodity Volatility and the Macroeconomy
  • Conventional and Unconventional Monetary Policies and Stock Markets
  • Economic Growth and Natural Resources Nexus in Era of Globalisation
  • |Exchange Determination Macroeconomics of Income Inequality and Poverty
  • Eurozone and Fiscal Spending
  • Environmental Tax Reform: Short-Term versus Long-Term Macroeconomic Effects
  • Foreign Bank Presence Affect Interest Rate Pass-through in Developing Countries
  • Financial Shocks, Financial Stability and Optimal Taylor Rules
  • Growth, Unemployment and Wage Inertia
  • Government Spending Multipliers and the Zero Lower Bound
  • Growth Impact of Discretionary Fiscal Policy Measures
  • Growing Income Inequality and Biased Technological Change
  • |Global Financial Crisis and Forward Guidance as well as Macroeconomic Outcomes
  • Gender, Ethics, Discrimination and Income Distribution
  • Impacts of Taxes on Macroeconomics
  • Interest on Reserves, Settlement& the Effectiveness of Monetary Policy
  • Inflationary Effects of Monetary Policies in Economies with Labour & Capital Immobility
  • Jumps, Co-jumps, and Efficiency in the Spot Foreign Exchange Market
  • Labour Market Monopsony on Economic Growth
  • Macroeconomics and Politics
  • Macroeconomic Forecasting
  • Macroeconomic Effects of Monetary and Fiscal Policies
  • Monetary Policy and Price Shocks
  • Macroeconomics and Natural Resources Supply Disruptions
  • Momentary Policy and Exchange Rates
  • Nonlinearities and the Wage Phillips Curve
  • Output Gains from Accelerating Core Inflation
  • Price Shocks, Aggregate Supply and Monetary Policy
  • Rules versus Discretion in Monetary Policy
  • Real Exchange Rate and Productivity of Skilled and Unskilled Labour
  • Sustainable Development Index Construction
  • Speed of Convergence in Endogenous Economic Growth Models
  • Short-Run and Long-Run Effects of Capital Taxation on Innovation & Economic Growth
  • Time-varying Degree of Inflation Expectation Anchoring
  • Total Factor Productivity and the Propagation of Shocks
  • US Macroeconomic News and Financial Markets
  • Unemployment, Economic Growth and Economic Uncertainty (Fluctuations)
  • Artificial Intelligence Reshaping the Business Models
  • Artificial Intelligence & its Socio-Economic Implications
  • Asset Price Bubble in the era of 4th Industrial revolution
  • Blockchain and Fintech
  • Blockchain, Cryptocurrencies & Challenges to Financial Stability
  • Blockchain for Business: Expectations and Potential
  • Business Management of Uncertainties in Innovation Activities
  • Changing Work Environment in the Age of A.I
  • Data Science for Innovation Challenges
  • Deep Learning and its implications for Businesses
  • Design of New Industrial Ecosystems
  • Digital Platforms: Opportunities and Challenges for Research, Practices, and Society
  • Disruptions of Blockchain
  • Ethical Challenges Associated with the 4th Industrial Revolution
  • Efficiency/Inefficiency of Cryptocurrency Markets
  • Fab Labs, Makerspaces and Coworking Spaces as Sites of Innovation
  • From Open Innovation to Business-to-Business, New roles and Methods
  • Fourth Industrial Revolution, Challenges and Opportunities for Businesses
  • Fourth Industrial Revolution for All, How to Harness its Benefits
  • Gender Inequality in the Age of A.I.
  • Global Coordination in A.I. and Innovation 4.0
  • Industries Coping with Innovation 4.0 Challenges
  • Innovation 4.0 Models in Emerging Countries
  • Integration of Sustainability in Innovation Management
  • Innovation and Trigger of Industry 4.0
  • Inequality and 4th Industrial Revolution
  • Knowledge management and Absorptive Capacity in the Age of Digital Transformation
  • New Silk Road of Innovation 4.0: Knowledge Flow, R&D Networks, and Open Innovation
  • Open innovation in SMEs
  • Public Policy Challenges and 4th Industrial Revolution
  • Regulatory Aspect of Innovations Associated with the 4th Industrial Revolution
  • Regional Innovation Ecosystems: Issues for (from) Smart Cities
  • Scaling Co-creation Processes, Policy Instruments, and Innovation Outcomes for Businesses
  • Security, Privacy and Trust of Blockchain and DL Technology for Businesses
  • Skills, Technologies and New organizational Challenges in the 4.0 Age
  • Sustainability & the Role of Innovations 4.0
  • StructuralTransformations: Public-Private Innovation Networks and Social Innovation
  • Sustainable Development: Strategies, Technological Development& Policies

  • Prof. Dr. Yaşar Hacısalihoğlu - Yeni Yüzyıl Üniversitesi Rektörü
  • Prof. Dr. Nigar Demircan Çakar - Düzce Üniversitesi, Rektör
  • Prof. Dr. Erişah Arıcan - Borsa İstanbul Yönetim Kurulu Üyesi, Marmara Ünv. Bankacılık ve Sigortacılık Enstitüsü Müdürü
  • Prof. Dr. Arif Karademir – Bursa Teknik Üniversitesi Rektörü
  • Prof. Dr. Mustafa Aykaç - Marmara Üniversitesi
  • Serhat Çeçen - ELDER Yönetim Kurulu Başkanı

  • Prof. Dr. Muhammad Shahbaz - Montpellier Business School, France
  • Prof. Dr. Seyfettin Erdoğan - Istanbul Medeniyet University
  • Doç. Dr. Ayfer Gedikli – Istanbul Medeniyet University
  • Dr. Muhammad Ali Nasir, Leeds Business School, Leeds Beckett University, United Kingdom

  • Ahmed HElsayed, Durham University, United Kingdom
  • Alper Aslan, Nevsehir Hacı Bektas Veli University, Nevsehir, Turkey
  • Alaa M Soliman, Leeds Business School, United Kingdom
  • Amine Lahiani, LEO–University of Orleans, France
  • Anthony Miloudi, La Rochelle Business School & CRIEF University of Poitiers, France
  • Aviral Kumar Tiwari, Montpellier Business School, Montpellier, France
  • Daniel Balsalobre, University of Castilla La Mancha, Spain
  • Gazi Salah Uddin, Linköping University, Sweden
  • Ilham Haouas, Abu Dhabi University, Abu Dhabi, UAE
  • José María Cantos-Cantos, University of Castilla-La Mancha, Spain
  • Kazi Sohag, Accounting Research Institute, Universiti Teknologi Mara, Malaysia
  • Lutz Kilian, University of Michigan, USA
  • Mantu Kumar Mahalik, National Institute of Technology, India
  • Mehmet Balcilar, Eastern Mediterranean University, Turkey
  • Mita Bhattacharya, Monash University, Australia
  • Muhammad Nasir, Pakistan Institute of Development Economists, Islamabad, Pakistan
  • Muhammad Ali Nasir, Leeds Business School, United Kingdom
  • Muhammad Wasaf Zafar, Shenzhen University, China
  • Muhammad Shafiullah, University of Nottingham Malaysia Campus, Selangor, Malaysia
  • Naceur Khraief, Tunis Business School, Université de Tunis, Tunis
  • Nicholas Apergis, University of Piraeus, Greece
  • Ramzi Benkraiem, Institute of Finance, Audencia Business School, France
  • Rizwan Ahmed, University of Birmingham, United Kingdom
  • Román Ferrer, University of Valencia, Spain
  • Sakiru Adebola Solarin, Multimedia University Malaysia, Melaka, Malaysia
  • Saleheen Khan, Minnesota State University, Mankato, USA
  • Shaista Alam, Applied Economics Research Centre, University of Karachi, Pakistan
  • Shawkat Hammoudeh, Drexel University, United States
  • Vassilios G. Papavassiliou, University College Dublin, Dublin, Ireland
  • Victor Emilio Troster, Universitat de les IllesBalears, Palma de Mallorca, Spain
  • Zeynel Abidin Ozdemir, Gazi University, Ankara, Turkey.



You can apply to the congress by uploading your abstracts to the system after you finish your registration from Registration and Submission System until 15th February, 2020.
  • Authors are invited to submit their research papers (in English) in PDF files to the following e-address: info@icofint.com
  • Abstracts should be at least 100 words and should not exceed 300 words.
  • The application must include the Title, Abstract, Key Words and JEL Codes.
  • All authors' titles, institutional names, e-mail addresses, faculty and department information must be written completely.
  • The participant can follow the process on the web site after he/she finishes the application.
  • Unless otherwise is stated, the author who submits the abstract will be accepted as the corresponding author and presenter of the paper.
  • Additionally, the corresponding author will be regarded as the contact person. Therefore, all communication information and correspondence addresses should be clearly stated in the relevant document.
  • Your application will be evaluated by the referees within 5 business days, and you will be informed of the result.
  • In all steps of your application please kindly check your SPAM box (Junk/Unnecessary mail) in case the email can be sent to SPAM box.
  • Upon the acceptance process of abstracts, you will receive "Template.docx" and "ICOFINT Registration Form" as well as the acceptance letter.
  • If you want to participate in the congress with full text paper, you should prepare your full text paper in accordance with the rules specified in the sample document.
  • The papers prepared in accordance with the ICOFINT Template file will be uploaded into the Registration and Submision System from the Full Text Loading Tab under the Applications Tab.
  • The papers which are not prepared in accordance with the ICOFINT Template file will not be published in proceedings book. Instead, they will be published in abstract book.
  • Full texts should be prepared in accordance with our Template File.
  • Please kindly make the payment of the registration fee by the last day of the registration. And also kindly confirm that the bank receipt image clearly shows the name and the surname of the applicant. Besides, the signed registration form image should be uploaded to the relevant fields on the Application Completion tab under the Applications tab. If necessary files have not been uploaded to the system until the Last Recording Date, the relevant applications will not be accepted.
  • The authors who would like to participate to the congress by the Late Registration, may pay the participation fee on the congress date by cash or credit card.


All abstracts will be published electronically in the ICOFINT Abstracts Book with the ISBN number as PDF. In addition, all full-text papers will be published electronically in the ICOFINT Proceedings Book with the ISBN number as PDF.
After a double-blind review process, selected best quality papers can be published in the special issue of one of the following journals.
High-quality papers will be accepted for oral presentation in ICOFINT, April 2020.

Special Issue Journals:

  • "Technological Forecasting and Social Change" special issue theme “Technological Innovations & Their Financial & Socio-economic Implications in the Era of Fourth Industrial Revolution”.
  • "The Quarterly Review of Economics and Finance" special issue theme “ “Vulnerabilities of Economic Policy and Challenges to Economic, Price and Financial Stability: Triple Mandate in the limited Policy-Space Regime”.
  • In consultation with the Editors-in-Chief of the World Economy authors of the high-quality conference papers will also be invited to submit their papers to a special or regular issue of the World Economy.


    The congress fee does not include transportation and accommodation fees. It is optional to stay at Hilton Istanbul Kozyatagi Hotel. We strongly suggest our participants to accomodate at the congress hotel, Hilton Hotel, since the hotel offers attractive discounted prices for the congress participants. Researchers may also participate in the congress without accommodation. All cafebreaks and lunches during the congress are free for our participants. Breakfast and dinner are not included in the congress participation fee.


    Phone: +90 216 468 00 49 or +90 216 468 00 00

    Mail: nihal.sancak@hilton.com orbuket.bilir@hilton.com

    Hilton Kozyatağı is the Congress Hotel. Hilton Hotel is located in a central location in the Anatolian Side where it is very convenient to reach from both the European Side and the Anatolian Side.
    • TAXI: The distance between Sabiha Gokcen Airport and Hilton Kozyatağı Hotel is approximately 32 km. The estimated taxi fare for Sabiha Gökçen Airport to our congress hotel is approximately 18 €. This amount can vary depending on the intensity of the traffic and the route involved.
    • HAVABUS: The fare for the Havabus vehicles traveling on the route between Sabiha Gökçen Airport and Kadikoy is 2 € and the road route passes right across from the congress hotel.
    • TAXI: The distance between Istanbul Airport and Hilton Kozyatağı Hotel is approximately 40 km. The estimated taxi fare to reach the congress hotel from Istanbul Airport is approximately 25 €. This amount may change depending on the intensity of the traffic and the route involved.
    • HAVAIST TRANSFER: You may transfer from Istanbul Airport to Yeni Sahra Station by HAVAIST and walk to Hilton Hotel. You should pay 25 TL (4 €) for the transportation.


    • Extended Abstract Submission Deadline: 15th February 2020
    • Notification of Acceptance: 1st March 2020
    • Conference Date: April 4-5, 2020
    • It depends on sending full text. Participation is possible only with the abstract. Abstract papers will be published in the Abstract Book. Abstracts of participants who do not send full text papers will be published in the Abstract Book.The papers which are not presented in the congress will be published in the poster presentation section of the full text book or abstract book. The papers which are not presented in the congress will be published in the poster presentation section of the full text book or abstract book.


    Paper registration fees are only for the attendee who will present the paper. It does not cover all authors in the studies.
    The registration fee includes conference materials, coffee breaks, and lunch buffets.

    Early Bird Fee (Prior to March 15, 2020) for Foreign Participants
    • Academic Presenters: €250
    • PhD Students: €200
    • Participant: €200
    • Poster Presenter: €200
    • 50% Discount on Additional Paper(s)

    Full Fee (Prior to March 31, 2020) for Foreign Participants
    • Academic Presenter: €300
    • PhD Student: €250
    • Participant: €250
    • Poster Presenter: €250
    • 50% Discount on Additional Paper(s)
    • Workshop Participant: €250

    Registration Fee for Turkish Participants
    • Academic Presenter: ₺450
    • PhD Student: ₺350
    • Participant: ₺300
    • Poster Presenter: ₺350
    • 50% Discount on Additional Paper(s)
    • Workshop Participant: ₺300
    Account Name :Pazıl Reklam Danışmanlık Matbaa ve Organizasyon Ltd Şti
    Name of Bank :GARANTİ BANK
    Account Number:1396-9097061
    IBAN No :(TR) 18 0006 2001 3960 0009 0970 61
    • Paper registration fees are only for the attendee who will present the paper. It does not cover the co-authors. If co-authors would like to participate in the congress, each author is required to register at the congress with a Guest Attendee Fee. Those authors should finish their registration in the Guest Attendee Registration section of the Registration and Application system. Guest Attendee should upload the image of bank receipt to the Registration and Submission System.
    • Audience are required to register at the congress with a Guest Attendee Fee. Guest attendees should register in the Guest Attendee Registration section of the Registration and Application system. Guest Attendee need to upload the image of bank receipt, to the Registration and Submission System.
    • Those who have no registration will not have the right to benefit from the opportunities of the congress.
    • Participation certificates will be prepared for only to the attendees. The authors who do not participate in the congress will not be given a participation certificate. Besides, participation certificates will be prepared for registered participants and will not be given to other authors who do not have a registration.
    • Please do not forget to take your invoice from the registration desk at the congress date.
    • The bank receipt image and the signed registration form image should be uploaded to the Registration and Submission system by the last day of the Registration. The bank receipt must include the participant’s name and surname. The congress is not responsible for any confusion that may arise from the lack of personal information.




    For all your questions about the congress, you can reach the congress organizing committee via our e-mail address given below and congress phone numbers. Your e-mail will be returned as soon as possible. Our congress phone numbers are open every weekday between 10: 00-17: 00 . Please contact us for any questions, comments, suggestions and complaints.

    Muhammad Shahbaz : muhdshahbaz77@gmail.com
    Ayfer Gedikli: ayfergedikli@gmail.com
    Seyfettin Erdoğan: erserdagm@hotmail.com


    Send a Message to Congress


    The organization of the congress is held by Pazıl Reklam Danışmanlık Matbaa ve Organizasyon Ltd. Şti. You can contact our organization company through the following contact information regarding your payments, money order and invoice.
    Company Name:Pazıl Reklam Danışmanlık Matbaa ve Organizasyon Ltd. Şti.
    Address: Valide-i Atik Quarter Nuhkuyusu Street No: 131/A Uskudar/ISTANBUL
    Phone Number: +90216 398 30 54
    Phone Numer (GSM): +90505 039 13 39
    E-mail: info@puzzleadworks.com