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- Title
TÜRKİYE EKONOMİSİNDE MALİ SÜRDÜRÜLEBİLİRLİK: TEORİ VE UYGULAMA.
- Authors
EMİRKADI, Ömer
- Abstract
In today's global economies, it is important to provide macroeconomic equilibrium and sustain it. Moreover, recently the concept of fiscal sustainability, including budget deficits and debt sustainability has came into prominence. Fiscal sustainability is accepted as a necessary presupposition for consistent economics and monetary policy practices to apply them harmonazingly and simultaneously. Financial sustainability became more and more curicial especially when it is evaluated in terms of Turkey that had financial problems because of chronical and structural budget deficits, also has a close relationship with some international financial corporations such as IMF, World Bank. Aim of this study, in general, analyzing fiscal and budget policy that are practised in Turkey after 2001 crisis in terms of fiscal sustainability as well as in private, discussing fiscal sustainability in Turkey through intertemporal budget constraint approach The sustainability issue, forming the basis of the analysis is approached in specific to of public sector. The major hypothesis of this study is to seek an answer to transition to the strong economy programme that was put into effect in order to be shortened public sector debt, increasing with budget deficits deepening before 2000's Another hypothesis is to get an answer whether the present situation of fiscal policy in the progressive aspect is 'sustainable' Considering the structural situation and the financial position of Turkey's economy, to detect the determiner of sustainability and unsustainability through budget items is the main concern of this study. At the method of the study; on the purpose of be tested of fiscal sustainability that Hakkio & Rush (1991) and Quintos (1995) models are required to be applied in the practice. Bivariate methods are prefered since they suggest more straight estimates for the long term. In order to determine the stationarities of the variables that are in the question, after ADF test was run in the wake of Johansen Cointegration test took place. Then to see the effects of budget items on fiscal sustainability in Turkey, four different tests were applied. All facts, found from the four tests, proved that fiscal sustainability was ensured between 2004-2015 nevertheless, the degree of sustainability was rather weak.
- Publication
Uludağ Journal of Economy & Society / Uludağ Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 2017, Vol 36, Issue 2, p39
- ISSN
1301-3386
- Publication type
Article