Economic literature on the explanation of budget deficits has been focused on two main issues On one hand the accumulation of public debts in recent decades and on the other hand the large observed cross countries differences on budget deficits and debt Conventional economic arguments alone are not sufficient to explain this behavior Therefore recent political economy literature emphasizes the role of political and institutional factors in the explanation of the fiscal policy and in particular of the budget balances behavior The purpose of this study to investigate effects of political and institutional factors on budget deficit in developing countries And in this paper an empirical study for 33 developing countries included Turkey using cross section is given According to estimated results there is significant statistical relationship between budget deficit and economic freedom level rule of law burden of government regulation wastefulness of government spending and political stability Key Words: Budget Deficit Political and Institutional Factors Cross Section Analysis
📌 3 Key Takeaways
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Objective & Hypothesis:Economic literature on the explanation of budget deficits has been focused on two main issues On one hand the accumulation of public debts in recent decades and on the other hand the large observed cross countries differences on budget deficits and debt Conventional economic arguments alone are not sufficient to explain this behavior Therefore recent political economy literature emphasizes the role of political and institutional factors in the explanation of the fiscal policy and in particular of the budget balances behavior The purpose of this study to investigate effects of political and institutional factors on budget deficit in developing countries And in this paper an empirical study for 33 developing countries included Turkey using cross section is given According to estimated results there is significant statistical relationship between budget deficit and economic freedom level rule of law burden of government regulation wastefulness of government spending and political stability Key Words: Budget Deficit Political and Institutional Factors Cross Section Analysis
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Key Findings & Data:Economic literature on the explanation of budget deficits has been focused on two main issues On one hand the accumulation of public debts in recent decades and on the other hand the large observed cross countries differences on budget deficits and debt Conventional economic arguments alone are not sufficient to explain this behavior Therefore recent political economy literature emphasizes the role of political and institutional factors in the explanation of the fiscal policy and in particular of the budget balances behavior The purpose of this study to investigate effects of political and institutional factors on budget deficit in developing countries And in this paper an empirical study for 33 developing countries included Turkey using cross section is given According to estimated results there is significant statistical relationship between budget deficit and economic freedom level rule of law burden of government regulation wastefulness of government spending and political stability Key Words: Budget Deficit Political and Institutional Factors Cross Section Analysis
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Conclusion & Impact:Economic literature on the explanation of budget deficits has been focused on two main issues On one hand the accumulation of public debts in recent decades and on the other hand the large observed cross countries differences on budget deficits and debt Conventional economic arguments alone are not sufficient to explain this behavior Therefore recent political economy literature emphasizes the role of political and institutional factors in the explanation of the fiscal policy and in particular of the budget balances behavior The purpose of this study to investigate effects of political and institutional factors on budget deficit in developing countries And in this paper an empirical study for 33 developing countries included Turkey using cross section is given According to estimated results there is significant statistical relationship between budget deficit and economic freedom level rule of law burden of government regulation wastefulness of government spending and political stability Key Words: Budget Deficit Political and Institutional Factors Cross Section Analysis
🔬Design:Research Article
📍Scope:Comprehensive Sample
⚙️Variables:Anahtar Kelimeler Bütçe Açığı · Politik ve Kurumsal Faktörler · Yatay Kesit Analizi
Abstract
Economic literature on the explanation of budget deficits has been focused on two main issues On one hand the accumulation of public debts in recent decades and on the other hand the large observed cross countries differences on budget deficits and debt Conventional economic arguments alone are not sufficient to explain this behavior Therefore recent political economy literature emphasizes the role of political and institutional factors in the explanation of the fiscal policy and in particular of the budget balances behavior The purpose of this study to investigate effects of political and institutional factors on budget deficit in developing countries And in this paper an empirical study for 33 developing countries included Turkey using cross section is given According to estimated results there is significant statistical relationship between budget deficit and economic freedom level rule of law burden of government regulation wastefulness of government spending and political stability Key Words: Budget Deficit Political and Institutional Factors Cross Section Analysis
Özet
Bütçe açıklarını açıklamaya yönelik ekonomi literatürü iki temel konu üzerine odaklanmıştır Bunlardan biri son zamanlarda kamu borçlarındaki birikim diğeri ise bütçe açıkları ve kamu borçları konusunda ülkeler arasında gözlenen önemli farklılıklardır Geleneksel ekonomik modeller tek başına bu durumu yeterli biçimde açıklamakta başarısız olmuştur Bu nedenle politik ekonomi yaklaşımı olarak bilinen yeni analitik çalışmalar mali politikaların özellikle de bütçe dengelerinin açıklanması konularında politik ve kurumsal faktörlerin rolünü vurgulamaktadır Bu çalışmanın amacı gelişmekte olan ülkelerde politik ve kurumsal faktörlerin bütçe açıkları üzerindeki etkisini araştırmaktır Bu doğrultuda ülkemizin de içinde yer aldığı gelişmekte olan 33 ülke için yatay kesit analizi yardımıyla ampirik bir çalışma yapılmıştır Elde edilen uygulama sonuçlarına göre ekonomik özgürlük düzeyi hukuk sisteminin etkinliği kamusal regülasyonların yükü kamusal harcamalardaki savurganlık ve politik istikrar gibi politik ve kurumsal faktörlerin bütçe açıkları üzerinde istatistiksel olarak anlamlı bir etkiye sahip olduğu tespit edilmiştir
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