The Scale Effect of Investments and Tax Incomes intended to Public Sector Borrowing Requirement in Last Period: Turkish Case
JEL Codes: H23, H30, H63
DOI:
https://doi.org/10.14738/abr.83.7932Keywords:
Financial Balances, Macro Dynamics, Public Sector Borrowing Requirement (PSBR), Tax Income.Abstract
In this study, we attempt to put forth the structural dynamics in which the recent changes in the Public Sector Borrowing Requirement, which is an important phenomenon of the public sector, are related. We consider important that the public sector financial balances are affected by many sub-dynamics considering it is important to better understand the impact level of total investment expenditures and tax revenues in the process of changes in the Public Sector Borrowing Requirement (PSBR). However, it is also meaningful to question the changes in the borrowing requirement in the other macro dynamics that constitute the effect level in the process. Therefore, values such as percentage changes in export limits, consumer confidence index and consumption investments in foreign markets were also included in our study. In this study, it was tried to determine the scale effect of the findings within the framework of an econometric model and the results were found to be meaningful as a result of the current interpretation from a financial economics perspective.
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Aras, O.N. and Öztürk, M. (2011), “Constitutional Economics, Fiscal Policy Rules, and The Case of Turkey”, International Journal of Social Sciences and Humanity Studies, 3(2), 399-410.
Arltová, M. and Fedorová, D. (2016), “Selection of Unit Root Test on the Basis of Length of the Time Series and Value of AR(1) Parameter”, Statistika, 96(3), 47-64.
Arslan, E., Bora, A. and Atlı, A. G. (2019), “Türkiye’de Bütçe Açıklarının Gelişimi ve Finansman Yöntemleri”, Social Mentality and Researcher Thinkers Journal, 5(19), 884-898.
Bailey, S. J. (1995), Public Sector Economics, London: Palgrave-Macmillan Texts in Economics, 1995.
Bank for International Settlement (2003), Fiscal Issues and Central Banking in Emerging Economies, Bank for International Settlement (BIS) Papers, No. 20, Basel: Bank for International Settlement (BIS) Monetary and Economic Department, October 2003.
Blejer, M. I. and Cheasty, A. (1991), “The Measurement of Fiscal Deficits: Analytical and Methodological Issues”, Journal of Economic Literature, 29(4), 1644-1678.
Central Bank of The Republic of Turkey (2010), Financial Stability Report-May 2010, Vol.10, Ankara: Central Bank of The Republic of Turkey (CBRT), 2010.
Cumhurbaşkanlığı Strateji ve Bütçe Başkanlığı, Gösterge ve İstatistikler (2018-2019).
Dağ, M. and Tügen, K. (2018), “Türkiye'de Bütçe Açıklarinin Nedenleri ve Finansman Yöntemleri: Dönemsel Bir Değerlendirme”, MCBÜ Sosyal Bilimler Dergisi, 16(2), 217-239.
Ertuğrul, A. and Selçuk, F. (2002), “Turkish Economy: 1980–2001”, Inflation and Disinflation in Turkey, A. Kibritçioğlu, L. Rittenberg and F. Selçuk (Eds.), Burlington: Ashgate Publishing Limited, 2002.
Gürkaynak, R. S., Kantur, Z., Taş, M. A. and Yıldırım, S. (2015), Monetary Policy in Turkey after Central Bank Independence, CESifo Working Paper No. 5582, Munich: CESifo Center for Economics Studies & Ifo Institute, 2015.
Hazine ve Maliye Bakanlığı (2019), Temel Ekonomik Büyüklükler (2009-2019), Ankara: Hazine ve Maliye Bakanlığı, Bütçe Mali Kontrol Genel Müdürlüğü, 2019.
Iyidogan, P. V. (2013), “The Twin Deficits Phenomenon in Turkey: An Empirical Investigation”, Journal of Business, Economics & Finance, 2(3), 36-42.
Keho, Y. (2010), “Budget Deficits and Economic Growth: Causality Evidence and Policy Implications for WAEMU Countries”, European Jоurnal of Economics, Finance and Administrative Sciences, 18, 100-105.
Nikoloski, A. and Nedanovski, P. 2017, “Influence of Budget Deficit on Economic Growth: The Case of The Republic of Macedonia”, The Journal of Accounting and Finance, July 2017 Special Issue, 116-126.
OECD (2018), OECD Economic Surveys: Turkey, July 2018.
Özen, E., Şahin, C. and Ünalmış, İ. (2013), “External Financial Stress and External Financing Vulnerability in Turkey: Some Policy Implications for Financial Stability”, Central Bank Review, 13, (Special Issue-March), 65-74.
Republic of Turkey Ministry of Treasury and Finance (2019), Public Debt Management Report-2019, Ankara: Republic of Turkey Ministry of Treasury and Finance Publishing, 2019.
The Central Bank of the Republic of Turkey (2002), 2001 Annual Report, submitted to The General Assembly of Shareholders on April 26, 2002, Annual Report Prepared by The Board of Directors Report of the Committee of Auditors Balance Sheet, Profit and Loss Statement, and The Budget of the Central Bank for The Seventieth Accounting Year, Ankara: 2002.
Ucal, M. and Alici, A. (2010), “Is Fiscal Policy Sustainable in Turkey?”, Emerging Markets Finance & Trade / May–June 2010, 46(1), 83-93.
Ünver, M. and Doğru, B. (2015), “The Determinants of Economic Fragility: Case of The Fragile Five Countries”, Akdeniz Ünivesitesi İ.İ.B.F. Dergisi, (31), 1-24.
Wigley, A. A., Çağatay, S. and Attar, M. A. (2019), “An Overview of Economic Growth Dynamics in Turkey”, in The Dynamics of Growth in Emerging Economies: The Case of Turkey, Arzu Akkoyunlu Wigley and Selim Çağatay (Eds.), London and New York: Routledge Inc., 2019.
World Bank (2013), Turkey Green Growth Policy Paper: Towards a Greener Economy, New York: The International Bank for Reconstruction and Development / The World Bank, 2013.
Yeldan, A. E. (1997), “Financial Liberalization and Fiscal Repression in Turkey: Policy Analysis in a CGE Model with Financial Markets”, Journal of Policy Modelling, 19(1), 79-117.
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Published
2020-03-30
How to Cite
Özker, N. (2020). The Scale Effect of Investments and Tax Incomes intended to Public Sector Borrowing Requirement in Last Period: Turkish Case: JEL Codes: H23, H30, H63. Archives of Business Research, 8(3), 210–222. https://doi.org/10.14738/abr.83.7932
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