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Journals / Mali Çözüm / 2013 / Cilt: 23 - Sayı: 119

Empirical analysis of the relationship between public and private ınvestments ın turkey: crowding out (1980-2010)

Türkiye’de kamu ve özel yatırımlar arasındaki ilişkinin ampirik analizi: dışlama etkisi (1980-2010)

SEVİNÇ YARAŞIR TÜLÜMCE
SELÇUK BUYRUKOĞLU
Pages
59–77
DOI
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

In addition, the results of Granger causality test indicate that there is a causality from private investments to public investments.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The relationship between public investment and private investment is very important for policy makers and economists.
📊
Key Findings & Data:In this study, the relationship between public and private investment is analy- zed by using Johansen co-integration and Granger causality tests for the period 1980-2010 in Turkey.
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Conclusion & Impact:In addition, the results of Granger causality test indicate that there is a causality from private investments to public investments.
🔬Design:Research Article
📍Scope:2010 Verileri
⚙️Variables:Domain Parameters

Abstract

The relationship between public investment and private investment is very important for policy makers and economists. The effects of public investments on private investments are analyzed from the perspective of economic thought systems. Financing of an expansionary fiscal policy constitutes the main difference between the economic thought systems. In this study, the relationship between public and private investment is analy- zed by using Johansen co-integration and Granger causality tests for the period 1980-2010 in Turkey. Findings show the negative relationship bet- ween interest rates and private investment (crowding out) in long term, by supporting the neoclassical approach. In addition, the results of Granger causality test indicate that there is a causality from private investments to public investments.

Özet

Kamu yatırımları ve özel yatırımlar arasındaki ilişki politika yapım- cıları ve ekonomistler için oldukça önemlidir. Kamu yatırımlarının özel yatırımlar üzerindeki etkisi iktisadi düşünce sistemleri perspektifinden analiz edilmektedir. Genişletici maliye politikasının finansmanı da iktisadi düşünce sistemleri arasındaki temel ayrım noktasını oluşturmaktadır. Bu çalışmada, Türkiye’de kamu yatırımları ve özel yatırımlar arasındaki ilişki 1980-2010 periyodu için Johansen Eş-bütünleşme ve Granger nedensellik testleri ile analiz edilmektedir. Bulgular, uzun dönemde faiz oranları ile özel yatırımlar arasındaki negatif ilişkiyi (crowding out) ortaya koyarak, Neo-klasik yaklaşımı desteklemektedir. Ayrıca Granger nedensellik testi ile özel yatırımlardan kamu yatırımlarına doğru bir nedenselliğin varlığı tespit edilmiştir.

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Cite This Article

TÜLÜMCE, S. Y., BUYRUKOĞLU, S. (2013). Empirical analysis of the relationship between public and private ınvestments ın turkey: crowding out (1980-2010). Mali Çözüm, Cilt: 23 - Sayı: 119, 59–77. https://ajindex.com/articles/281758

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