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Kamu Açıkları, İç Borç ve Faiz Oranı İlişkisi: Türkiye Örneği

Relationship Among Public Deficits Domestic Debt and Interest Rate: Turkey Case

Journal Name:

  • Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi

Publication Year:

  • 2014

Key Words:

Keywords (Original Language):

Author NameUniversity of AuthorFaculty of Author
Abstract (2. Language): 
This study, investigates relationship among public deficits, public domestic debt and interest rate in Turkey by causality and multivariable vector autoregression (VAR) analysis for the period 1980-2012 by using annual series. The empirical results suggest that interest rate is Granger cause of inflation and also there is a Granger causality running from domestic debt to inflation. Additionally an other uni-directional causality runs from inflation to public debt. As a result in the period studied for Turkey its concluded that interest rates effect public deficits in relation with inflation.
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Abstract (Original Language): 
Bu çalışma, Türkiye’de kamu açıkları, iç borç ve faiz oranı arasındaki ilişkiyi nedensellik ve çok değişkenli VAR modeli kullanarak 1980-2012 dönemi için yıllık verilerle incelemektedir. Ampirik sonuçlar, faiz oranın enflasyonun Granger nedeni olduğunu ve ayrıca iç borçlardan enflasyona doğru bir Granger nedensellik ilişkisi göstermektedir. Ek olarak, bir diğer tek yönlü nedensellik ilişkisi ise enflasyondan kamu açıklarına doğrudur. Sonuçta incelenen dönemde Türkiye’de faiz oranları kamu açıklarını enflasyon aracığı ile etkilemektedir.
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