MONETARY APPROACH TO BALANCE OF PAYMENTS: A SURVEY

Year 2011, Volume: 10 Issue: 35, 221 - 236, 01.09.2011

M.kutluğhan Savaş Ökte

Abstract

Abstract
This paper examines the monetary approach to balance of payments. Monetary approach to balance of payments differs from traditional approaches in several respects. The most important contribution of the monetary approach to the balance of payments analysis is that it emphasizes the role of money in the equilibrating process. In 1960s and 1970s, experiences in the world economy and in some developed countries verified the explanations of the monetary approach. However, there is no empirical support to this approach. So, rather than viewing monetary approach as an alternative to the traditional ones, it is better to evaluate them together.
Key words: Balance of payments, monetary approach, traditional approaches, Johnson Model.

Keywords

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ÖDEMELER DENGESİNE PARASAL YAKLAŞIM: BİR İNCELEME

Abstract

Öz
Bu makale, ödemeler dengesine parasal yaklaşımı araştırmaktadır. Ödemeler dengesine parasal yaklaşım, birçok açıdan geleneksel yaklaşımlardan ayrılmaktadır. Parasal yaklaşımın ödemeler dengesi analizine en önemli katkısı, denkleştirme sürecinde paranın rolünü vurgulamasıdır. 1960'lı ve 1970'li yıllarda, dünya ekonomisinde ve bazı gelişmiş ülkelerde yaşanan tecrübeler parasal yaklaşımın açıklamalarını doğrulamıştır. Ancak, bu yaklaşımı destekleyen ampirik çalışmalar yoktur. Dolayısıyla, parasal yaklaşımı geleneksel yaklaşımlara alternatif olarak görmek yerine, onlarla birlikte değerlendirmek daha iyi olacaktır.
Anahtar kelimeler: Ödemeler dengesi, parasal yaklaşım, geleneksel yaklaşımlar, Johnson Modeli.

Keywords

Ödemeler dengesi, parasal yaklaşım, geleneksel yaklaşımlar, Johnson Modeli

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