TY  - JOUR
T1  - Is More Government Debt Conducive to Economic Growth in New Zealand?
TT  - Yeni Zelanda'da Daha Fazla Kamu Borcu Ekonomik Büyümeyi Destekler mi?
AU  - Hsing, Yu
PY  - 2020
DA  - December
JF  - JOEEP: Journal of Emerging Economies and Policy
JO  - JOEEP
PB  - Seyfettin ERDOĞAN
WT  - DergiPark
SN  - 2651-5318
SP  - 20
EP  - 24
VL  - 5
IS  - 2
LA  - en
AB  - Applying an extended production function and using a sample of annual data over the period of 1985-2019, this paper finds that the government debt ratio and the growth rate of real gross domestic product in New Zealand exhibit an inverted U-shape relationship and that the threshold or turning point of the debt ratio in New Zealand is estimated to be 40.94%. It suggests that a rising debt ratio would raise the growth rate of real gross domestic product as long as the debt ratio is no greater than 40.94% and that a higher debt ratio would reduce the growth rate of real gross domestic product if the debt ratio is greater than 40.94%. In addition, a higher growth rate of employment or investment/GDP ratio raises the growth rate of real gross domestic product. Therefore, the 90% debt threshold proposed by Reinhart-Rogoff is not applicable to New Zealand.
KW  - government debt
KW  - fiscal policy
KW  - Reinhart-Rogoff hypothesis
N2  - Bu çalışma, 1985-2019 dönemi için yıllık veriler ile genişletilmiş bir üretim fonksiyonu tahmin ederek YeniZelanda'da kamu borç oranının ve reel gayri safi yurtiçi hasıla büyüme oranının ters U şeklinde bir ilişkiyesahip olduğunu ve Yeni Zelanda'daki borç oranının eşik değerinin veya dönüm noktasının %40.94 olduğunuortaya koymaktadır. Borç oranı %40.94’ü aşmadığı sürece borç oranının artışının, reel gayri safi yurtiçi hasılabüyüme oranını artıracağını ve borç oranının %40.94'ü aştığı durumda daha yüksek borç oranının reel gayrisafi yurtiçi hasıla büyüme oranını azaltacağı gösterilmiştir. Buna ek olarak, daha yüksek bir istihdam büyümeoranı veya yatırım/GSYİH oranı, reel gayri safi yurtiçi hasıla büyüme oranını artırmaktadır. Bu nedenle,Reinhart-Rogoff tarafından önerilen %90 borç eşiği Yeni Zelanda için geçerli değildir.
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UR  - https://dergipark.org.tr/en/pub/joeep/issue//789787
L1  - https://dergipark.org.tr/en/download/article-file/1271558
ER  -