TÜRKIYE'NIN MALIYE POLITIKALARININ BÜTÇE KISITI TEORISI AÇISINDAN SÜRDÜRÜLEBILIRLIGI: VAR ANALIZI

With the 1980's when the process of financial liberalization started, changes in macro economic data have been observed in Turkey. Besides taxation and spending as the basic fiscal policy tools, it can not be denied that borrowing has also gained a growing importance. At those years and thereaf...

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Bibliographic Details
Published in:Maliye çalışmaları dergisi : (Online) 2011-07 (55), p.35
Main Author: Kayalidere, Gül
Format: Article
Language:Turkish
Subjects:
Borrowing
Fiscal policy
Public sector
Regression analysis
Studies
Sustainability
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Summary:With the 1980's when the process of financial liberalization started, changes in macro economic data have been observed in Turkey. Besides taxation and spending as the basic fiscal policy tools, it can not be denied that borrowing has also gained a growing importance. At those years and thereafter, rising trend of Public Sector Borrowing Requirement has continued. Whether there is a limit to the increase of public debt stock is a subject for researches. According to the budget constraint theory; fiscal policies are sustainable if the rise of public domestic debt stock could be answered by public sector primary surplus at the budget. At this study, fiscal policies implemented in Turkey are evaluated in terms of those two variables and the relationship between them is tested by VAR (Vector Autoregressive Regression) method. As a result, it can be said that fiscal policies are sustainable in our country with respect to the period and data selected. However, it is necessary to state that crisis periods affect sustainability negatively. [PUBLICATION ABSTRACT]
ISSN:2757-6396
2757-6728