Cari Açık Üzerine Araştırma Eğilimleri: Küresel Yaklaşımlar ve Bölgesel Dinamikler (1979–2024)

Abstract

Bu çalışma, 1979'dan 2024'e kadar olan dönemde Cari Açık (CAD) araştırmalarına dair kapsamlı birbibliyometrik analiz sunmayı amaçlamaktadır. Araştırma eğilimlerini ve temel katkı sağlayıcılarıbelirleyerek küresel katkıları, temaları ve atıf desenlerini ortaya koymaktadır. Scopus veri tabanında belirlibir filtreleme yöntemiyle 177 dergi makalesinden oluşan bir veri kümesi elde edilmiştir. Atıf, eş-atıf ve ağanalizi için R yazılımı ile Bibliometric paketi ve VOSviewer yazılımı kullanılmıştır. Çalışma, yayıneğilimlerini, anahtar kelime birlikteliğini, yazar iş birliklerini ve dünya genelindeki çıktıların dağılımınıvurgulamaktadır. Amerika Birleşik Devletleri, CAD araştırmalarında en önde gelen katkı sağlayıcı ülkeolarak öne çıkarken, onu diğer gelişmiş ve gelişmekte olan ekonomiler takip etmektedir. Ekonomi,Ekonometri ve Finans en baskın konu alanları olarak belirlenmiştir. Illinois Urbana-ChampaignÜniversitesi’nden Soyoung Kim en çok atıf alan yazar olmuştur. Bulgular, CAD araştırma alanınınmakroekonomik bağlantılar, ticaret dinamikleri ve politika etkileri üzerine odaklanan disiplinler arası işbirlikleriyle şekillendiğini ortaya koymaktadır. Çalışmanın bir sınırlılığı, yalnızca Scopus veri tabanınadayanmasıdır; bu da İngilizce dışı yayınların hariç tutulması nedeniyle potansiyel olarak çeşitli katkılarıngözden kaçmasına neden olabilir. Gelecek araştırmaların daha fazla veri tabanını entegre ederek bölgeselçalışmaları derinlemesine incelemesi faydalı olacaktır. Bulgular, politika yapıcılar ve akademisyenler içinCAD ile ilişkili dinamikleri daha iyi kavrama yönünde değerli içgörüler sunmakta, gelecekteki ekonomikstratejilere ve araştırma gündemlerine ışık tutmaktadır. Ayrıca, çalışma küresel ekonomik eşitsizliklerinçözümünde disiplinler arası yaklaşımların gerekliliğini ortaya koymuştur. Bu çalışma, CAD araştırmalarınayönelik benzersiz bir bibliyometrik bakış açısı ve gelecek araştırmalar için kapsamlı bir çerçevesunmaktadır. Literatürdeki boşlukların ele alınması, uluslararası finans ve makroekonomi alanındaki bilgibirikiminin gelişmesine katkı sağlayacaktır.

Keywords

• Cari Açık
• Bibliyometrik Analiz
• Scopus
• Rsudtio

Research Trends on Current Account Deficit: Global Approaches and Regional Dynamics (1979–2024)

Abstract

This study aims to provide a comprehensive bibliometric analysis of the Current Account Deficit researchoutput from 1979 to 2024 to identify the intellectual structure of the trends and main contributors to outlinethe global contribution, themes, and citation patterns. A dataset of 177 articles was extracted using a specificrefinement in the Scopus database. R-tool with the Bibliometric package and VOSviewer software wereutilized for citation, co-citation, and network analysis. The paper underlines trends in publication, keywordco-occurrence, author collaboration, and world output. The United States emerged as the leading contributorto CAD research, followed by other advanced and emerging economies. Economics, Econometrics andFinance were the dominant subject areas. Soyoung Kim from the University of Illinois Urbana-Champaignwas the most cited author. These findings underscore that the field of CAD research is driven byinterdisciplinary collaboration that focuses on analyzing macroeconomic linkages, trade dynamics andpolicy implications. The study's limitation is that it is based on a single database, Scopus, which may notinclude non-English publications and thereby omits potential diverse contributions. Future research wouldbe well served by integrating more databases and exploring regional studies in greater depth. The findingsoffer valuable insights for policymakers and scholars to enhance their comprehension of the dynamicsassociated with CAD, informing future economic strategies and research agendas. Additionally, the studyhas shown the need for interdisciplinary approaches in solving global economic inequalities. This studyoffers a unique bibliometric view of CAD research and a comprehensive framework for future research.Addressing gaps in the literature serves as a foundational resource for advancing knowledge in internationalfinance and macroeconomics.

Keywords

• Current Account Deficit
• Bibliometric Analysis
• Scopus
• Rsudtio

References

1. Abdinova, M., Lambekova, A., & Myrzhykbayeva, A. (2024). FinTech Development: A Bibliometric Analysis of the Scopus Database (2014-2024). Procedia Computer Science, 251, 49-56. https://doi.org/10.1016/j.procs.2024.11.083.
2. Adam, A., & Tsarsitalidou, S. (2018). Do democracies have higher current account deficits? Constitutional Political Economy, 29(1), 40–68. https://doi.org/10.1007/s10602-017-9255-9
3. Al-Sawaie, K. M. (2024). Jordan’s current account deficit sustainability. WSEAS Transactions on Business and Economics, 21, 2110–2115. https://doi.org/10.37394/23207.2024.21.173
4. Anoruo, E., & Ramchander, S. (1998). Current account and fiscal deficits: Evidence from five developing economies of Asia. Journal of Asian Economics, 9(3), 487-501. https://doi.org/10.1016/S1049-0078(99)80099-2
5. Apergis, N., Katrakilidis, K. P., & Tabakis, N. M. (2000). Current account deficit sustainability: The case of Greece. Applied Economics Letters, 7(9), 599-603. https://doi.org/10.1080/13504850050059087
6. Aria, M., & Cuccurullo, C. (2017). bibliometrix: An R-tool for comprehensive science mapping analysis. Journal of informetrics, 11(4), 959-975. https://doi.org/10.1016/j.joi.2017.08.007.
7. Aristovnik, A. (2008). Short-term determinants of current account deficits: evidence from Eastern Europe and the former Soviet Union. Eastern European Economics, 46(1), 24-42.https://doi.org/10.2753/EEE0012-8775460102
8. Baharumshah, A. Z., Lau, E., & Fountas, S. (2003). On the sustainability of current account deficits: evidence from four ASEAN countries. Journal of Asian economics, 14(3), 465-487. https://doi.org/10.1016/S1049-0078(03)00038-1

9. Banday, U. J., & Aneja, R. (2022). Budget deficit and current account deficit in case of South Africa. Journal of Public Affairs, 22(4), e2703. https://doi.org/10.1002/pa.2703
10. Bluedorn, J., & Leigh, D. (2011). Revisiting the twin deficits hypothesis: the effect of fiscal consolidation on the current account. IMF Economic Review, 59(4), 582-602. https://doi.org/10.1057/imfer.2011.21.
11. Bussière, M., Fratzscher, M., & Müller, G. J. (2010). Productivity shocks, budget deficits and the current account. Journal of International Money and Finance, 29(8), 1562-1579.https://doi.org/10.1016/j.jimonfin.2010.05.012
12. Chen, S. W. (2011). Current account deficits and sustainability: Evidence from the OECD countries. Economic modelling, 28(4), 1455-1464. https://doi.org/10.1016/j.econmod.2011.01.011
13. Crescenzi, R., Luca, D., & Milio, S. (2016). The geography of the economic crisis in Europe: national macroeconomic conditions, regional structural factors and short-term economic performance. Cambridge Journal of Regions, Economy and Society, 9(1), 13-32. https://doi.org/10.1093/cjres/rsv031.
14. Dauti, B. (2024). Macroeconomic, institutional and financial determinants of current account deficit in North Macedonia: Evidence from time series. Zbornik radova Ekonomskog fakulteta u Rijeci: časopis za ekonomsku teoriju i praksu, 42(1), 65-94. https://doi.org/10.18045/zbefri.2024.1.65
15. Engel, C., & Rogers, J. H. (2006). The US current account deficit and the expected share of world output. Journal of monetary Economics, 53(5), 1063-1093. https://doi.org/10.1016/j.jmoneco.2006.05.002.
16. Erkök, B. (2021). Current account deficit and automotive sector nexus in Turkey: An input-output analysis. Sosyoekonomi, 29(49), 113–129. https://doi.org/10.17233/sosyoekonomi.2021.03.06
17. Edwards, S. (2002). Does the current account matter?. In Preventing currency crises in emerging markets (pp. 21-76). University of Chicago Press.‏
18. Ferrero, A. (2015). House price booms, current account deficits, and low interest rates. Journal of Money, Credit and Banking, 47(S1), 261-293. https://doi.org/10.1111/jmcb.12202
19. Gan, Y. N., Li, D. D., Robinson, N., & Liu, J. P. (2022). Practical guidance on bibliometric analysis and mapping knowledge domains methodology–A summary. European Journal of Integrative Medicine, 56, 102203. https://doi.org/10.1016/j.eujim.2022.102203.
20. Gaviria-Marin, M., Merigó, J. M., & Baier-Fuentes, H. (2019). Knowledge management: A global examination based on bibliometric analysis. Technological Forecasting and Social Change, 140, 194-220. https://doi.org/10.1016/j.techfore.2018.07.006
21. Harzing, A. W., & Alakangas, S. (2016). Google Scholar, Scopus and the Web of Science: a longitudinal and cross-disciplinary comparison. Scientometrics, 106, 787-804. https://doi.org/10.1007/s11192-015-1798-9
22. Huntington, H. G. (2015). Crude oil trade and current account deficits. Energy Economics, 50, 70-79. https://doi.org/10.1016/j.eneco.2015.03.030
23. İri, R., & Ünal, E. (2024). Bibliometric analysis bibliometric analysis of research (1980-2023). Ahi Evran Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 10(2), 386-403. https://doi.org/10.31592/aeusbed.1446738
24. Kearney, C., & Monadjemi, M. (1990). Fiscal policy and current account performance: International evidence on the twin deficits. Journal of Macroeconomics, 12(2), 197-219. https://doi.org/10.1016/0164-0704(90)90029-A
25. Khalid, A. M., & Guan, T. W. (1999). Causality tests of budget and current account deficits: Cross-country comparisons. Empirical Economics, 24, 389-402. https://doi.org/10.1007/s001810050062.
26. Kim, S., & Roubini, N. (2008). Twin deficit or twin divergence? Fiscal policy, current account, and real exchange rate in the US. Journal of international Economics, 74(2), 362-383. https://doi.org/10.1016/j.jinteco.2007.05.012.
27. Kaminsky, G., Lizondo, S., & Reinhart, C. M. (1998). Leading indicators of currency crises. Staff Papers, 45(1), 1-48.‏ https://doi.org/10.2307/3867328
28. Khadan, J., & Deonarine, A. (2020). Sustainability of current account deficits in small states. Economics and Business Letters, 9(1), 14-20.
29. Lahmann, H. (1979). Current account runs into deficit. Economic Bulletin, 16(9), 1-4. https://doi.org/10.1007/BF02243695.
30. Liu, H., & Ren, J. (2024). Do budget deficits cause current account deficits? a re-evaluation utilizing military expenditures as an instrumental variable. PloS one, 19(10), e0311664. https://doi.org/10.1371/journal.pone.0311664.
31. Ma, B., & Wang, X. (2024). Unveiling asymmetric dynamics: Exploring the impact of oil price on economic growth and current account deficit: Evidence from G-7 countries. Resources Policy, 89, 104481. https://doi.org/10.1016/j.resourpol.2023.104481
32. Marimuthu, M., Khan, H., & Bangash, R. (2022). Comparative Study on Lower-Middle-, Upper-Middle-, and Higher-Income Economies of ASEAN for Fiscal and Current Account Deficits: A Panel Econometric Analysis. Mathematics, 10(18), 3259. https://doi.org/10.3390/math10183259
33. Martínez-López, F. J., Merigó, J. M., Valenzuela-Fernández, L., & Nicolás, C. (2018). Fifty years of the European Journal of Marketing: a bibliometric analysis. European Journal of Marketing, 52(1/2), 439-468.
34. Mehta, D., & Mallikarjun, M. (2023). Impact of fiscal deficit and trade openness on current account deficit in India: new evidence on twin deficits hypothesis. EconomiA, 24(2), 172-188. https://doi.org/10.1108/ECON-07-2022-0091
35. Milesi-Ferretti, G. M., & Razin, A. (1998). Sharp reductions in current account deficits an empirical analysis. European Economic Review, 42(3-5), 897-908. https://doi.org/10.1016/S0014-2921(97)00124-4.
36. Ndzama, N. F. (2024). Examining the sustainability of current account deficits using a probability approach. Society and Economy. https://doi.org/10.1556/204.2024.00019
37. Obstfeld, M. (1983). Intertemporal price speculation and the optimal current-account deficit. Journal of International Money and Finance, 2(2), 135-145.https://doi.org/10.1016/0261-5606(83)90011-6.
38. Obstfeld, M. (2012). Does the current account still matter? American Economic Review, 102(3), 1-23.
39. Obstfeld, M., & Rogoff, K. (2007). The unsustainable US current account position revisited. In G7 current account imbalances: Sustainability and adjustment (pp. 339-376). University of Chicago Press.
40. Özer, M., & Malovic, M. (2020). Ball and chain effect: Is Turkey’s growth rate constrained by current account deficit? Physica A: Statistical Mechanics and its Applications, 558, 124997. https://doi.org/10.1016/j.physa.2020.124997
41. Ozkan, C., & Okay, N. (2024). Does Renewable Energy Convey Information to Current Account Deficit?: Evidence from OECD Countries. Sustainability, 16(18), 8241.  https://doi.org/10.3390/su16188241.
42. Passas, I. (2024). Bibliometric analysis: the main steps. Encyclopedia, 4(2). https://doi.org/10.3390/encyclopedia4020065
43. Piersanti, G. (2000). Current account dynamics and expected future budget deficits: some international evidence. Journal of international Money and Finance, 19(2), 255-271. https://doi.org/10.1016/S0261-5606(00)00004-8
44. Shah, M. I. (2022). Current account deficit across South Asia: A Second Generation Methodological Adaptive Approach. Journal of Public Affairs, 22(2), e2475. https://doi.org/10.1002/pa.2475.
45. Sharma, V., Adil, M. H., Fatima, S., & Mittal, A. (2024). Asymmetric effect of fiscal deficit on current account deficit: evidence from India. Vision, 28(4), 480-493. https://doi.org/10.1177/09722629211057221
46. Stilianos, F., & Jyh-Lin, W. (1999). Are the US current account deficits really sustainable?. International Economic Journal, 13(3), 51-58. https://doi.org/10.1080/10168739900000004
47. Trachanas, E., & Katrakilidis, C. (2013). The dynamic linkages of fiscal and current account deficits: New evidence from five highly indebted European countries accounting for regime shifts and asymmetries. Economic Modelling, 31, 502-510. https://doi.org/10.1016/j.econmod.2012.12.026
48. Trading Economics. (2025a). United States Current Account to GDP. https://tradingeconomics.com/united-states/current-account-to-gdp
49. Ülker, P., Ülker, M., & Karamustafa, K. (2023). Bibliometric analysis of bibliometric studies in the field of tourism and hospitality. Journal of Hospitality and Tourism Insights, 6(2), 797-818. https://doi.org/10.1108/JHTI-10-2021-0291.
50. Van Eck, N., & Waltman, L. (2010). Software survey: VOSviewer, a computer program for bibliometric mapping. scientometrics, 84(2), 523-538. https://doi.org/10.1007/s11192-009-0146-3.
51. Wang, X. X., Xu, Z. S., & Dzitac, I. (2019). Bibliometric Analysis on Research Trends of International Journal of Computers Communications & Control. International Journal of Computers, Communications & Control, 14(5).
52. Wickens, M. R., & Uctum, M. (1993). The sustainability of current account deficits: a test of the US intertemporal budget constraint. Journal of Economic Dynamics and Control, 17(3), 423-441. https://doi.org/10.1016/0165-1889(93)90005-D.
53. Wu, J. L., Chen, S. L., & Lee, H. Y. (2001). Are current account deficits sustainable?: Evidence from panel cointegration. Economics Letters, 72(2), 219-224.https://doi.org/10.1016/S0165-1765(01)00420-7.
54. Zupic, I., & Čater, T. (2015). Bibliometric methods in management and organization. Organizational research methods, 18(3), 429-472. https://doi.org/10.1177/1094428114562629.