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TOBİN VERGİSİ, DÖVİZ PİYASALARINDA İSTİKRAR SAĞLAMANIN BİR ARACI OLARAK KULLANILABİLİR Mİ ?

Journal Name:

  • İstanbul Üniversitesi İktisat Fakültesi Mecmuası

Publication Year:

  • 2005
Author NameUniversity of AuthorFaculty of Author
Abstract (2. Language): 
In the first half of the I990's, depending on IMF related political procedures, liberalization of capital account in developing countries have gained importance. Depending on increases in capital inflows, increases offinancial opportunities for investments and increases in growth rates were the main targets of IMF policies. As a result liberalization policies provide the effective distribution of capital increasing market discipline in developing countries and emerging markets. Depending upon this, limitations on capital accounts were abolished. The fact that financial crisis took place in the second half of 1990's, in countries, such as Mexico, Thailand, South Korea, Russia, Argentina which abolished limitations on capital accounts raised doubts about liberalization of capita! account. Therefore in the world economy measures to control the capital flows have been on the agenda since limitless capital /lows turning towards developing countries had adverse effects.
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Abstract (Original Language): 
I990'h yılların ilk yarısında, IMF temelli politikalar çerçevesinde gelişmekte olan ülke piyasaları için sermaye hesabının liberalizasyonuna yönelik uygulamalar ağırlık kazanmıştır. Sermaye girişlerinin artmasına bağlı olarak, yatırımların finansmanının kolaylaşması ve ekonomik büyüme oranlarının artması, liberalizasyon politikalarının ortak noldasuıı teşkil etmiştir. Bu çerçevede birçok ülkede sermaye hesabı üzerindeki sınırlamalar kaldırılmıştır. Ancak 1990'lı yılların ikinci yarısından itibaren sermaye hesapları üzerindeki sınırlandırmaları kaldıran ülkelerde (Meksika, Tayland, Güney Kore, Rusya, Arjantin) /inansal krizlerin meydana gelmesi, sermaye hesabının liberaiizasyonu konusundaki şüpheleri arttırmıştır. Bu çerçevede dünya ekonomisinde gelişmekte olan ülkelere yönelen sınırsız sermaye akımlarının olumsuz etkilerinden hareketle, sermaye akımlarının kontrol allına alınmasına yönelik önlemler gündeme gelmiştir. Çalışmamızda, spekülatif nitelikli sermaye akımlarının sınırlandırılması sürecinde uygulanabilecek önlemler incelenmektedir. Bu kapsamda sermaye akımlarının kur dalgalanmaları üzerindeki etkisinin azaltılması gereğinden hareketle, son yıllarda en çok tartışılan makroekonomik politika araçlarından biri olan Tobin vergisinin etkinliği ortaya konulmaya çalışılacaktır.
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  • Turkish

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