@article{article_544951, title={THE AVAILABILITY AND EFFICIENCY OF FINANCIAL RESOURCES OF CURRENT ACCOUNT DEFICITS}, journal={Kafkas Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi}, volume={10}, pages={641–669}, year={2019}, DOI={10.36543/kauiibfd.2019.027}, author={Bulut, Ömer Uğur}, keywords={The current account deficit,the current account deficit financing structures,VAR model}, abstract={<p class="MsoNormal" style="margin-bottom:6pt;text-align:justify;line-height:normal;"> <span style="font-size:10pt;font-family:’Times New Roman’, serif;">The research seeks to analyze the current account
deficit in Turkish economy between 2006 and 2018 on the financial resources by
taking into account the sustainability conditions. To this end, we have not
restricted the current account deficit with a single indicator. In the
research, where four different Vector Autoregressive Models have been created,
Zivot-Andrews unit root test has been utilized to see the impact of structural
changes in the relevant period. The availability and effectiveness of the financing
sources that impact the sustainability of the current account deficit as a
policy tool have been analyzed by utilizing the method of Impulse-Response and
Variance Decomposition in these models. The empirical findings have indicated
that the current account deficit in Turkish economy between 2006-2018 was
financed by rather hot money movements and short-term external debt that have
speculative and fragile structure. These results indicate that growth should be
disregarded for reducing current account deficit to sustainable level for
Turkish economy.        </span> </p> <p> </p>}, number={20}, publisher={Kafkas University}