An Empirical Investigation on the Relationship between Fiscal Transparency and Institutional Quality

Year 2025, Volume: 10 Issue: 1, 233 - 256

Nazmiye Tekdemir , Eda Yeşil

https://doi.org/10.25229/beta.1589338

Abstract

Fiscal transparency, a cornerstone of effective public financial management, encompasses the reliability, comprehensiveness, timeliness, and accountability of reporting on public finances. The quality of institutional structures plays a pivotal role in fostering and sustaining fiscal transparency. Analysing data from 57 countries over the 2008–2021 period using ordered probit analysis, this study reveals significant impacts of political stability, absence of violence, regulatory quality, rule of law, corruption control, and government effectiveness on fiscal transparency. In economies with lower transparency levels, variables such as voice and accountability, government effectiveness, and rule of law have limited positive effects, whereas their influence strengthens in economies with higher transparency. Interestingly, while political stability and corruption control positively affect low-transparency economies, their impact turns negative in highly transparent countries. Strengthening the rule of law, improving regulatory quality, fostering accountability, and enhancing anti-corruption measures are essential for narrowing disparities in transparency and promoting sustainable, credible public financial management.

Keywords

Fiscal transparency, institutional quality, ordered probit model

Ethical Statement

This study, which does not require ethics committee approval and/or legal/special permission, complies with research and publication ethics.

Mali Şeffaflık ve Kurumsal Kalite Arasındaki İlişki Üzerine Ampirik Bir Araştırma

Abstract

Mali şeffaflık, etkili kamu mali yönetiminin temel taşlarından biri olup, kamu maliyesine ilişkin raporlamanın güvenilirliğini, kapsamını, zamanında sunulmasını ve hesap verebilirliğini kapsar. Kurumsal yapıların kalitesi, mali şeffaflığın sağlanması ve sürdürülebilirliği açısından kritik bir rol oynamaktadır. 2008–2021 döneminde 57 ülkeyi kapsayan veriler, sıralı probit analizi kullanılarak incelendiğinde, politik istikrar, şiddet/terör yokluğu, düzenleyici kalite, hukukun üstünlüğü, yolsuzluk kontrolü ve hükümet etkinliğinin mali şeffaflık üzerinde önemli etkiler yarattığı görülmüştür. Mali şeffaflık düzeyi düşük olan ekonomilerde söz hakkı ve hesap verebilirlik, hükümet etkinliği ve hukukun üstünlüğü gibi değişkenlerin pozitif etkisi sınırlı kalırken, bu değişkenlerin etkisi şeffaflık düzeyi yüksek ekonomilerde güçlenmektedir. İlginç bir şekilde, politik istikrar ve yolsuzluk kontrolü düşük şeffaflık seviyesine sahip ekonomilerde olumlu bir etki yaratırken, yüksek şeffaflık düzeyine sahip ülkelerde bu etkiler negatif bir seyir izlemektedir. Hukukun üstünlüğünün güçlendirilmesi, düzenleyici kalitenin artırılması, hesap verebilirliğin teşvik edilmesi ve yolsuzlukla mücadele önlemlerinin geliştirilmesi, şeffaflık seviyeleri arasındaki farkların azaltılması ve sürdürülebilir, güvenilir bir kamu mali yönetiminin teşvik edilmesi açısından oldukça önemlidir.

Keywords

mali şeffaflık, kurumsal kalite, sıralı probit model

Ethical Statement

Etik komite onayı ve/veya yasal/özel izin gerektirmeyen bu çalışma, araştırma ve yayın etiğine uygundur.

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