Are the Measurements of Fiscal Sustainability Stable in Turkey?

Ceylan R.

MALIYE DERGISI, sa.158, ss.388-397, 2010 (ESCI) identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: Sayı: 158
  • Basım Tarihi: 2010
  • Dergi Adı: MALIYE DERGISI
  • Derginin Tarandığı İndeksler: Emerging Sources Citation Index (ESCI), TR DİZİN (ULAKBİM)
  • Sayfa Sayıları: ss.388-397
  • Hacettepe Üniversitesi Adresli: Evet

Özet

In this study, it is analysed that whether fiscal sustainability in Turkish economy is provided by using annual data of public sector borrowing requirement/GDP and primary surplus/GDP in 1975-2008 period and annual data of public debt/GDP in 1985-2008 period. In the study, beside conventional ADF unit root test, Leybourne, Newbold, Vougas (LNV) test which based on non-linear time series technical and new version of this test which was renewed by Sollis (2004) are used. While unit root test results null for conventional ADF test, however it seems sensible for LNV test and LNV-Sollis test. This result shows that public sector borrowing requirement/GDP and primary surplus/GDP and stock of public debt/GDP are stationary leading to mild structural breaks and that in respect of these criterias fiscal sustainability is provided in Turkey.