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Journals / Gümüşhane Üniversitesi Sosyal Bilimler Dergisi / 2018 / Cilt: 9 - Sayı: 23

RETHINKING OF THE EFFECTS OF PUBLIC DEBT AND INFLATION ON ECONOMIC GROWTH: THE CASE OF EU 15

KAMU BORCU VE ENFLASYONUN BÜYÜME ÜZERİNDEKİ ETKİSİNİ YENİDEN GÖZDEN GEÇİRMEK: AB 15 ÖRNEĞİ

Mehmet SONGUR
Devran ŞANLI
Yusuf MURATOĞLU
Pages
42–55
Publication Date
2022-10-19
DOI
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AI Summary & Key Takeaways

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

According to the results, the effect of inflation and public debt increase on growth was observed negative and statistically significant.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The global economic and financial crisis emphasized that threats to financial stability may have a major impact on both monetary policy and fiscal policy.
📊
Key Findings & Data:In this study, we used a sample of the 1960-2010 period for EU 15 countries.
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Conclusion & Impact:According to the results, the effect of inflation and public debt increase on growth was observed negative and statistically significant.
🔬Design:Research Article
📍Scope:2010 Verileri
⚙️Variables:Domain Parameters

Abstract

The global economic and financial crisis emphasized that threats to financial stability may have a major impact on both monetary policy and fiscal policy. Financial instability and weak public finance can have an adverse effect on each other. The crisis has had a great negative impact on the public finances of the EU countries and has led to a new debt crisis in these countries. This condition has brought about the importance of research on growth, debt and inflation relations for EU countries. In this study, we used a sample of the 1960-2010 period for EU 15 countries. We analyzed the effects of government debt and inflation on economic growth with the AMG and CCEMG which consider heterogeneity and cross sectional dependence problem. In addition, we analyzed MG and PCSE which consider heterogeneity and autocorrelation problem. According to the results, the effect of inflation and public debt increase on growth was observed negative and statistically significant.

Özet

Küresel ekonomik ve finansal kriz, finansal istikrara yönelik tehditlerin hem para politikası hem de maliyepolitikası üzerinde büyük etkisi olabileceğini vurgulamıştır. Finansal istikrarsızlık ve zayıf kamu maliyesibirbirleri üzerinde olumsuz etkiler yaratabilir. Yaşanan kriz Avrupa Birliği ülkelerinin kamu maliyesinde büyüknegatif etkiler yaratmış ve bu ülkelerde yeni bir Avrupa borç krizi ortaya çıkmasına neden olmuştur. Bu durumAB ülkeleri için büyüme, borç ve enflasyon ilişkisinin araştırılmasının önemini beraberinde getirmiştir.Çalışmada, AB 15 ülkelerinden oluşan 1960-2010 dönemini içeren 50 yıllık bir panel oluşturulmuş, kamuborcu/GSYH büyümesi ve enflasyonun ekonomik büyüme üzerindeki etkileri heterojenlik ve yatay kesitbağımlılığı problemlerini dikkate AMG ve CCEMG yöntemlerine ek olarak MG tahmincisi ile heterojenlik veotokorelasyonu dikkate alan PCSE yöntemi ile analiz edilmiştir. Analizden elde edilen sonuçlara göre enflasyonve kamu borcu artışının büyüme üzerindeki etkisi negatif ve anlamlı olarak gözlemlenmiştir.

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Cite This Article

SONGUR, M., ŞANLI, D., MURATOĞLU, Y. (2022). RETHINKING OF THE EFFECTS OF PUBLIC DEBT AND INFLATION ON ECONOMIC GROWTH: THE CASE OF EU 15. Gümüşhane Üniversitesi Sosyal Bilimler Dergisi, Cilt: 9 - Sayı: 23, 42–55. https://ajindex.com/articles/527635

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