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KAMU AÇIĞININ MEVZUAT FAİZLERİ KANALIYLA DIŞLAMA ETKİSİ

Journal Name:

  • Yönetim ve Ekonomi Araştırmaları Dergisi

Publication Year:

  • 2004

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Abstract (2. Language): 
The primary objective of this study is to examine the potential crowding out effect of public deficit through interest rates paid for saving deposits (the cost of deposits). We follow Cebula (1997, 2000) and Darrat (2000) that have investigated such an effect of public deficit in the US. Even though the economic effects of public deficits in Turkey are widely deliberated by many researchers, none of them has directed his/her study through this way yet. By using Turkish data, we estimate the relationship between real interest rates and public deficit over the 1985-2003 period. The results suggest that changes in public deficit positively and significantly affect the real interest rate paid for saving deposits at the Turkish banks.
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Abstract (Original Language): 
Çalışmanın temel amacı Türkiye'de kamu açığının özel sektörü dışlayıcı etkisinin var olup olmadığını araştırmaktır. Metodolojik olarak Cebula (1997, 2000) ve Darrat (2000) takip edilmektedir; ki onlar Amerika'ya ait data kullanarak kamu açığının mevduat faizleri kanalıyla özel sektörü anlamlı bir dışlama etkisinin var olup olmadığını test ediyorlar. Kamu açığının Türkiye ekonomisi üzerindeki muhtemel ekonomik etkileri yoğun olarak tartışılmasına rağmen, konuya bu perspektiften yaklaşan bir çalışma şu ana kadar gerçekleşmedi. Araştırmada, Türkiye'nin 1985-2003 yıllarını kapsayan verileri kullanılarak mevduatlara uygulanan reel faiz oranları ile kamu açığı arasındaki ilişki incelendi. Sonuçlar, kamu açığındaki değişmenin mevduat için bankalar tarafından ödenen reel faizi pozitif olarak anlamlı derecede etkilediğini göstermektedir. Bu da, kısmen de olsa kamu açığının dışlayıcı etkisinin varlığına işaret eder.
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184-200
  • Turkish

REFERENCES

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