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Journals / Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi / 2003 / Cilt: 21 - Sayı: 1

Türkiye'deki Yüksek Bütçe Açıklarının Bir Sonucu: İçsel Para Büyümesi

The Endogenous Money Growth: An Outcome of High Budget Deficits in Turkey

A. Tarkan ÇAVUŞOĞLU
Pages
11–127
Publication Date
2022-10-18
DOI
—
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AI Summary & Key Takeaways

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

The empirical findings imply that the monetary transmission process is characterised by the monetary accommodation of high inflation and budget deficits, the outcome of which is an endogenous credit-money expansion in the economy.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:This study is an attempt to reveal the characteristics of the adjustment dynamics of the monetary transmission process in the Turkish economy.
📊
Key Findings & Data:The estimations based on the cointegration analysis of time series confirm the presence of fiscal dominance over monetary dynamics resulting from continuously increasing borrowing requirements of the public sector in the period 1985-2001.
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Conclusion & Impact:The empirical findings imply that the monetary transmission process is characterised by the monetary accommodation of high inflation and budget deficits, the outcome of which is an endogenous credit-money expansion in the economy.
🔬Design:Research Article
📍Scope:2001 Verileri
⚙️Variables:Domain Parameters

Abstract

This study is an attempt to reveal the characteristics of the adjustment dynamics of the monetary transmission process in the Turkish economy. The estimations based on the cointegration analysis of time series confirm the presence of fiscal dominance over monetary dynamics resulting from continuously increasing borrowing requirements of the public sector in the period 1985-2001. The empirical findings imply that the monetary transmission process is characterised by the monetary accommodation of high inflation and budget deficits, the outcome of which is an endogenous credit-money expansion in the economy.

Özet

Bu çalışma, Türkiye ekonomisinde parasal aktarım sürecininin uyum dinamiğinin özelliklerini ortaya çıkarma amacına yönelik bir denemedir. Zaman serilerinde eş-bütünleşme analizine dayanan tahminler, 1985-2001 döneminde, sürekli artan kamu iç borçlanma gereğinin bir sonucu olarak ortaya çıkan parasal dinamikler üzerindeki mali egemenliğin varlığını doğrulamaktadır. Ampirik bulgular, parasal aktarım sürecinde, para arzının yüksek enflasyon ve bütçe açıklarına eşlik etmesinin bir sonucu olarak, kredi-para arzının ekonomide içsel genişlediğini ortaya koymaktadır.

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Cite This Article

ÇAVUŞOĞLU, A. T. (2022). Türkiye'deki Yüksek Bütçe Açıklarının Bir Sonucu: İçsel Para Büyümesi. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, Cilt: 21 - Sayı: 1, 11–127. https://ajindex.com/articles/533343

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