The quality of fiscal adjustment: an empirical analysis of Turkey
Turkey is a country with high inflation and debt problems. Policy-makers try to use tight fiscal policy based on high primary surplus to stabilize the economy. This study analyzes the composition of the budget, an indicator for the quality of fiscal policy and the persistence of the adjustments usin...
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| Veröffentlicht in: | Journal of economic policy reform 2009-06, Vol.12 (2), p.111-126 |
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| container_title | Journal of economic policy reform |
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| creator | Dincer, N. Nergiz Ozdemir, Zeynel Abidin |
| description | Turkey is a country with high inflation and debt problems. Policy-makers try to use tight fiscal policy based on high primary surplus to stabilize the economy. This study analyzes the composition of the budget, an indicator for the quality of fiscal policy and the persistence of the adjustments using ARFIMA methodology using monthly data for the period 1994:1 to 2005:11. Our results suggest that fiscal policy implemented in Turkey does not have a high quality due to the composition of expenditures. Although government is successful in cutting personnel expenditures, the results suggest that it did not implement these cuts with persistence. Moreover, decreasing transfer expenditures and a high share in expenditures were not pursued with persistence either. On the other hand, decreasing investment after 2000 both decreases the quality of the fiscal policy and has a future growth cost. |
| doi_str_mv | 10.1080/17487870902872896 |
| format | Article |
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On the other hand, decreasing investment after 2000 both decreases the quality of the fiscal policy and has a future growth cost.</description><subject>ARFIMA models</subject><subject>Debt</subject><subject>Economic policy</subject><subject>Fiscal policy</subject><subject>Inflation</subject><subject>quality of fiscal policy</subject><subject>sustainability of fiscal policy</subject><subject>Turkey</subject><issn>1748-7870</issn><issn>1748-7889</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2009</creationdate><recordtype>article</recordtype><sourceid>X2L</sourceid><sourceid>7TQ</sourceid><recordid>eNqFkMtOwzAQRSMEEqXwAeyyYlfwI45txKaqeKoSm7K2XMdWXfKq7QD5exyCuqkQi_GMPPdczUySXEJwDQEDN5BmjDIKOECMIsbzo2Qy_M0oY_x4X1Nwmpx5vwWAZByRSTJfbXS662RpQ582JjXWK1mmsth2PlS6DreprFNdtdbZn0Yty95bP2hXnXvX_XlyYmTp9cVvniZvD_erxdNs-fr4vJgvZ4qAPMwQWyOdM4JyRHlhAOIUEYUZIwpKnPF1XmCONMswJ4ZJSKReG2RyyAGQGkE8Ta5G39Y1u077IKo4qy5LWeum84IwBgFBOArhKFSu8d5pI1pnK-l6AYEYjiUOjhWZl5FxutVqDwRptlq1zogPgSVE8eljIAB4THYoY7RDD0IBUS42oYpmdDSztWlcJT8bVxbRqy8bZ5yslfWHI4jwFSJ59y-J_97iG-Pxmds</recordid><startdate>20090601</startdate><enddate>20090601</enddate><creator>Dincer, N. 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Policy-makers try to use tight fiscal policy based on high primary surplus to stabilize the economy. This study analyzes the composition of the budget, an indicator for the quality of fiscal policy and the persistence of the adjustments using ARFIMA methodology using monthly data for the period 1994:1 to 2005:11. Our results suggest that fiscal policy implemented in Turkey does not have a high quality due to the composition of expenditures. Although government is successful in cutting personnel expenditures, the results suggest that it did not implement these cuts with persistence. Moreover, decreasing transfer expenditures and a high share in expenditures were not pursued with persistence either. On the other hand, decreasing investment after 2000 both decreases the quality of the fiscal policy and has a future growth cost.</abstract><pub>Routledge</pub><doi>10.1080/17487870902872896</doi><tpages>16</tpages></addata></record> |
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| ispartof | Journal of economic policy reform, 2009-06, Vol.12 (2), p.111-126 |
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| language | eng |
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| source | Business Source Complete (BSC) 商管财经类全文数据库(完整版); RePEc; PAIS Index |
| subjects | ARFIMA models Debt Economic policy Fiscal policy Inflation quality of fiscal policy sustainability of fiscal policy Turkey |
| title | The quality of fiscal adjustment: an empirical analysis of Turkey |
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