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Turkey's Budgetary Responses to the Pandemic and Comparison of the Stringency Level of Interventions in Turkey and Countries in East, South, and Southeast Asia

Year 2021, Volume: 6 Issue: 2, 263 - 290, 25.12.2021
https://doi.org/10.30927/ijpf.974167

Abstract

This study analyses strategies for responding to COVID-19 via considerations of the Turkish state budget, the effects of the pandemic, and projections of macroeconomic and fiscal indicators. Additionally, the stringency level of Turkey's interventions in the pandemic is examined by comparing the responses of countries in East, South, and Southeast Asia. The aims of the study are to analyse Turkey’s fiscal responses to COVID-19 and to assess future estimates of economic and fiscal indicators. Another objective is to compare the level of rigour of the Turkish government's interventions with that of selected Asian countries using various indices calculated by the Oxford COVID-19 Government Response Tracker (OxCGRT). Data belonging to macroeconomic and fiscal indicators of Turkey were examined from 2019 to 2023 using proportional analysis, and countries’ response indices were calculated by averaging daily data from OxCGRT between 11 March 2020 and 28 February 2021. The study includes comparative results based on the relationship between fiscal responses and the rigour level of interventions. The originality is to be the first study that comprehensively examines Turkey’s responses to the COVID-19 and its effects on the state budgeting in the short and medium-terms. It is reported that the Turkish government has taken decisive actions in the face of the pandemic when compared to Asian countries but response costs have driven significant increases in the planned levels of budget and borrowing.

References

  • An, B. Y., & Tang, S.-T. (2020). Lessons from COVID-19 responses in East Asia: Institutional infrastructure and enduring policy instruments. American Review of Public Administration, 50(6-7), 790–800. https://doi.org/10.1177/0275074020943707.
  • Ando, M., Furukawa, C., Nakata, D., & Sumiya, K. (2020). Fiscal responses to the COVID-19 crisis in Japan: The first six months. National Tax Journal, 73(3), 901-926. DOI: 10.17310/ntj.2020.3.12.
  • Andrew, J, Baker, M., Guthrie, J., & Martin-Sardesai, A. (2020). Australia’s COVID-19 public budgeting response: the straitjacket of neoliberalism. Journal of Public Budgeting, Accounting & Financial Management, 32(5), 759-770. https://doi.org/10.1108/JPBAFM-07-2020-0096.
  • Anessi-Pessina, E., Barbera, C., Langella, C., Manes-Rossi, F., Sancino, A., Sicilia M., & Steccolini, I. (2020). Reconsidering public budgeting after the COVID-19 outbreak: Key lessons and future challenges. Journal of Public Budgeting, Accounting & Financial Management, 32(5), 957-965. DOI 10.1108/JPBAFM-07-2020-0115.
  • Ahrens, T. & Ferry, l. (2020). Financial resilience of English local government in the aftermath of COVID-19. Journal of Public Budgeting, Accounting & Financial Management, 32(5), 812-823. DOI 10.1108/JPBAFM-07-2020-0098.
  • Argento, D., Kaarbøe, K., & Vakkuri, J. (2020). Constructing certainty through public budgeting: budgetary responses to the COVID-19 pandemic in Finland, Norway and Sweden. Journal of Public Budgeting, Accounting & Financial Management, 32(5), 875-887. DOI 10.1108/JPBAFM-07-2020-0093.
  • Ashfaq, M. & Bashir, M. (2020). Pakistan: Making a “COVID budget” in a struggling economy. Journal of Public Budgeting, Accounting & Financial Management, 33(1), 69-77. https://doi.org/10.1108/JPBAFM-07-2020-0118.
  • Balajee, A., Cafral, S. T., & Udupa, G. (2020). Fiscal situation of India in the time of COVID-19. Indian School of Business, http://dx.doi.org/10.2139/ssrn.3571103.
  • Beh, L-S., & Lin, W. L. (2021). Impact of COVID-19 on ASEAN tourism industry. Journal of Asian Public Policy, DOI: 10.1080/17516234.2020.1871180.
  • Bloomberg HD (2020, 13 March). Albayrak: İstikrar Kalkanı adımlarımızın maddi tutarı 240 milyar TL'ye ulaştı. [Albayrak: The financial amount of our Stability Shield steps reached 240 billion TL]. https://www.bloomberght.com/albayrak-istikrar-kalkani-adimlarimizin-maddi-tutari-240-milyar-tl-ye-ulasti-2255323.
  • Bostan, S., Erdem, R., Öztürk, Y. E., Kılıç, T., & Yılmaz, A. (2020). The effect of COVID-19 pandemic on the Turkish Society. Electronic Journal of General Medicine, 17(6), 2-8.
  • Chan, S. P. (2020, March 23). Global economy will suffer for years to come, says OECD. BBC News. https://www.bbc.com/news/business-52000219.
  • Chen, S. X., Lam, B. C. P., Liu, J. H., Choi, H-S., Kashima, E., & Bernardo, A. B. I. (2021). Effects of containment and closure policies on controlling the COVID-19 pandemic in East Asia. Asian Journal of Social Psychology, 24, 42–47. DOI: 10.1111/ajsp.12459.
  • Christensen, T., & Lægreid, P. (2020). Balancing governance capacity and legitimacy: How the Norwegian government handled the COVID-19 crisis as a high performer. Public Administration Review, 80(5), 774–779. https://doi.org/10.1111/puar.13241.
  • Clemens, J., & Veuger, S. (2020). Implications of the COVID-19 pandemic for state government tax revenues. (Working paper no.27426). National Bureau of Economic Research.
  • Driessen, G. A. (2020). The Coronavirus relief fund (CARES Act, Title V): Background and state and local allocations. (Report no. 7). Congressional Research Service.
  • Djalante, R., Nurhidayah, L., Minh, H. V., Ngoc Phuong, T. N., Mahendradhata. Y., Trias, A., Lassa, J., & Miller, M. A. (2020). COVID-19 and ASEAN responses: Comparative policy analysis. Progress in Disaster Science, 8, 1-12. doi: 10.1016/j.pdisas.2020.100129.
  • Dutta, A., & Fischer, H. W. (2020). The local governance of COVID-19: Disease prevention and social security in rural India. World Development, 138, 1-11.
  • Dünya (2021, 23 January). 2020 yılı bütçe gerçekleşmeleri, sapmalar. [Budget realizations in 2020, deviations] https://www.dunya.com/kose-yazisi/2020-yili-butce-gerceklesmeleri-sapmalar/608058.
  • DW Turkey (2021, 1 March). Ekonomi büyüdü ama vatandaş fakirleşti. [The economy grew, but the citizen became poor]. https://www.dw.com/tr/ekonomi-b%C3%BCy%C3%BCd%C3%BC-ama-vatanda%C5%9F-fakirle%C5%9Fti/a-56738681.
  • Food and Agriculture Organisation of the United Nations (2021). MERS-CoV situation update. FAO. Retrieved 01 April 2020. http://www.fao.org/ag/againfo/programmes/en/empres/mers/situation_update.html.
  • Felix, A. (2020). COVID-19 challenges state and local government finances. kcFED Economic Bulletin. Federal Reserve Bank of Kansas City, the USA.
  • Ferry, L., & Eckersley, P. (2011). Budgeting and governing for deficit reduction in the UK public sector: Act one ‘the comprehensive spending review’. Journal of Finance and Management in Public Service, 10(1), 14-23.
  • Furman, J., Geithner, T., Hubbard, G., & Kearney, M. S. (2020). Promoting economic recovery after COVID-19. The Aspen Institute, Economic Strategy Group.
  • Grossi, G., Ho, A. T. & Joyce, P. G. (2020). Budgetary responses to a global pandemic: International experiences and lessons for a sustainable future. Journal of Public Budgeting, Accounting & Financial Management, 32(5), 737-744. https://doi.org/10.1108/JPBAFM-12-2020-189.
  • Gössling, S., Scott, D., & Hall, C. M. (2021). Pandemics, tourism and global change: A rapid assessment of COVID-19. Journal of Sustainable Tourism, 29(1), 1–20. https://doi.org/10.1080/09669582.2020. 1758708.
  • Güngör-Göksu, G. (2020). Küresel salgına yönelik alınan mali önlemlerin bütçe ve borçlanma üzerine etkileri [The effects of the fiscal measures taken against the global epidemic on the budget and borrowing]. In H. Kılıçaslan (Ed.). COVID-19: Küresel pandeminin ekonomik ve mali etkileri [COVID-19: Economic and financial ımpacts of the global pandemic] (71-98). Gazi Publisher.
  • Hale, T., Angrist, N., Goldszmidt, R., Kira, B., Petherick, A., Phillips, T., Webster, S., Blake, E. C., Hallas, L., Majumdar, S., & Tatlow, H. (2021). A global panel database of pandemic policies (Oxford COVID-19 Government Response Tracker). Nature Human Behaviour. https://doi.org/10.1038/s41562-021-01079-8.
  • Heald, D., & R. Hodges (2020). The accounting, budgeting and fiscal impact of COVID-19 on the United Kingdom. Journal of Public Budgeting, Accounting & Financial Management, 32(5), 785-795. DOI 10.1108/JPBAFM-07-2020-0121.
  • International Monetary Fund. (2020a). World economic outlook: A long and difficult ascent. IMF. Retrieved 01 April 2020. https://www.imf.org/en/Publications/WEO/Issues/2020/09/30/world-economic-outlook-october-2020.
  • International Money Fund (2020b). Challenges in forecasting tax revenue. IMF. Retrieved 25 March 2020. https://www.imf.org/~/media/Files/Publications/covid19-special-notes/en-special-series-on-covid-19-challenges-in-forecasting-tax-revenue.ashx?la=en.
  • Jose, J., Mishra, P., & Pathak, R. (2020), Fiscal and monetary response to the COVID-19 pandemic in India. Journal of Public Budgeting, Accounting & Financial Management, 33(1), 56-68. https://doi.org/10.1108/JPBAFM-07-2020-0119.
  • Kaçak, H. & Yıldız, M. S. (2020). Stringency of government responses to COVID-19 and initial results: A comparison between five European countries and Turkey. Türk Hijyen ve Deneysel Biyoloji Dergisi, 77(2): 233-242. DOI: 10.5505/TurkHijyen.2020.60487.
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Turkey's Budgetary Responses to the Pandemic and Comparison of the Stringency Level of Interventions in Turkey and Countries in East, South, and Southeast Asia

Year 2021, Volume: 6 Issue: 2, 263 - 290, 25.12.2021
https://doi.org/10.30927/ijpf.974167

Abstract

This study analyses strategies for responding to COVID-19 via considerations of the Turkish state budget, the effects of the pandemic, and projections of macroeconomic and fiscal indicators. Additionally, the stringency level of Turkey's interventions in the pandemic is examined by comparing the responses of countries in East, South, and Southeast Asia. The aims of the study are to analyse Turkey’s fiscal responses to COVID-19 and to assess future estimates of economic and fiscal indicators. Another objective is to compare the level of rigour of the Turkish government's interventions with that of selected Asian countries using various indices calculated by the Oxford COVID-19 Government Response Tracker (OxCGRT). Data belonging to macroeconomic and fiscal indicators of Turkey were examined from 2019 to 2023 using proportional analysis, and countries’ response indices were calculated by averaging daily data from OxCGRT between 11 March 2020 and 28 February 2021. The study includes comparative results based on the relationship between fiscal responses and the rigour level of interventions. The originality is to be the first study that comprehensively examines Turkey’s responses to the COVID-19 and its effects on the state budgeting in the short and medium-terms. It is reported that the Turkish government has taken decisive actions in the face of the pandemic when compared to Asian countries but response costs have driven significant increases in the planned levels of budget and borrowing.

References

  • An, B. Y., & Tang, S.-T. (2020). Lessons from COVID-19 responses in East Asia: Institutional infrastructure and enduring policy instruments. American Review of Public Administration, 50(6-7), 790–800. https://doi.org/10.1177/0275074020943707.
  • Ando, M., Furukawa, C., Nakata, D., & Sumiya, K. (2020). Fiscal responses to the COVID-19 crisis in Japan: The first six months. National Tax Journal, 73(3), 901-926. DOI: 10.17310/ntj.2020.3.12.
  • Andrew, J, Baker, M., Guthrie, J., & Martin-Sardesai, A. (2020). Australia’s COVID-19 public budgeting response: the straitjacket of neoliberalism. Journal of Public Budgeting, Accounting & Financial Management, 32(5), 759-770. https://doi.org/10.1108/JPBAFM-07-2020-0096.
  • Anessi-Pessina, E., Barbera, C., Langella, C., Manes-Rossi, F., Sancino, A., Sicilia M., & Steccolini, I. (2020). Reconsidering public budgeting after the COVID-19 outbreak: Key lessons and future challenges. Journal of Public Budgeting, Accounting & Financial Management, 32(5), 957-965. DOI 10.1108/JPBAFM-07-2020-0115.
  • Ahrens, T. & Ferry, l. (2020). Financial resilience of English local government in the aftermath of COVID-19. Journal of Public Budgeting, Accounting & Financial Management, 32(5), 812-823. DOI 10.1108/JPBAFM-07-2020-0098.
  • Argento, D., Kaarbøe, K., & Vakkuri, J. (2020). Constructing certainty through public budgeting: budgetary responses to the COVID-19 pandemic in Finland, Norway and Sweden. Journal of Public Budgeting, Accounting & Financial Management, 32(5), 875-887. DOI 10.1108/JPBAFM-07-2020-0093.
  • Ashfaq, M. & Bashir, M. (2020). Pakistan: Making a “COVID budget” in a struggling economy. Journal of Public Budgeting, Accounting & Financial Management, 33(1), 69-77. https://doi.org/10.1108/JPBAFM-07-2020-0118.
  • Balajee, A., Cafral, S. T., & Udupa, G. (2020). Fiscal situation of India in the time of COVID-19. Indian School of Business, http://dx.doi.org/10.2139/ssrn.3571103.
  • Beh, L-S., & Lin, W. L. (2021). Impact of COVID-19 on ASEAN tourism industry. Journal of Asian Public Policy, DOI: 10.1080/17516234.2020.1871180.
  • Bloomberg HD (2020, 13 March). Albayrak: İstikrar Kalkanı adımlarımızın maddi tutarı 240 milyar TL'ye ulaştı. [Albayrak: The financial amount of our Stability Shield steps reached 240 billion TL]. https://www.bloomberght.com/albayrak-istikrar-kalkani-adimlarimizin-maddi-tutari-240-milyar-tl-ye-ulasti-2255323.
  • Bostan, S., Erdem, R., Öztürk, Y. E., Kılıç, T., & Yılmaz, A. (2020). The effect of COVID-19 pandemic on the Turkish Society. Electronic Journal of General Medicine, 17(6), 2-8.
  • Chan, S. P. (2020, March 23). Global economy will suffer for years to come, says OECD. BBC News. https://www.bbc.com/news/business-52000219.
  • Chen, S. X., Lam, B. C. P., Liu, J. H., Choi, H-S., Kashima, E., & Bernardo, A. B. I. (2021). Effects of containment and closure policies on controlling the COVID-19 pandemic in East Asia. Asian Journal of Social Psychology, 24, 42–47. DOI: 10.1111/ajsp.12459.
  • Christensen, T., & Lægreid, P. (2020). Balancing governance capacity and legitimacy: How the Norwegian government handled the COVID-19 crisis as a high performer. Public Administration Review, 80(5), 774–779. https://doi.org/10.1111/puar.13241.
  • Clemens, J., & Veuger, S. (2020). Implications of the COVID-19 pandemic for state government tax revenues. (Working paper no.27426). National Bureau of Economic Research.
  • Driessen, G. A. (2020). The Coronavirus relief fund (CARES Act, Title V): Background and state and local allocations. (Report no. 7). Congressional Research Service.
  • Djalante, R., Nurhidayah, L., Minh, H. V., Ngoc Phuong, T. N., Mahendradhata. Y., Trias, A., Lassa, J., & Miller, M. A. (2020). COVID-19 and ASEAN responses: Comparative policy analysis. Progress in Disaster Science, 8, 1-12. doi: 10.1016/j.pdisas.2020.100129.
  • Dutta, A., & Fischer, H. W. (2020). The local governance of COVID-19: Disease prevention and social security in rural India. World Development, 138, 1-11.
  • Dünya (2021, 23 January). 2020 yılı bütçe gerçekleşmeleri, sapmalar. [Budget realizations in 2020, deviations] https://www.dunya.com/kose-yazisi/2020-yili-butce-gerceklesmeleri-sapmalar/608058.
  • DW Turkey (2021, 1 March). Ekonomi büyüdü ama vatandaş fakirleşti. [The economy grew, but the citizen became poor]. https://www.dw.com/tr/ekonomi-b%C3%BCy%C3%BCd%C3%BC-ama-vatanda%C5%9F-fakirle%C5%9Fti/a-56738681.
  • Food and Agriculture Organisation of the United Nations (2021). MERS-CoV situation update. FAO. Retrieved 01 April 2020. http://www.fao.org/ag/againfo/programmes/en/empres/mers/situation_update.html.
  • Felix, A. (2020). COVID-19 challenges state and local government finances. kcFED Economic Bulletin. Federal Reserve Bank of Kansas City, the USA.
  • Ferry, L., & Eckersley, P. (2011). Budgeting and governing for deficit reduction in the UK public sector: Act one ‘the comprehensive spending review’. Journal of Finance and Management in Public Service, 10(1), 14-23.
  • Furman, J., Geithner, T., Hubbard, G., & Kearney, M. S. (2020). Promoting economic recovery after COVID-19. The Aspen Institute, Economic Strategy Group.
  • Grossi, G., Ho, A. T. & Joyce, P. G. (2020). Budgetary responses to a global pandemic: International experiences and lessons for a sustainable future. Journal of Public Budgeting, Accounting & Financial Management, 32(5), 737-744. https://doi.org/10.1108/JPBAFM-12-2020-189.
  • Gössling, S., Scott, D., & Hall, C. M. (2021). Pandemics, tourism and global change: A rapid assessment of COVID-19. Journal of Sustainable Tourism, 29(1), 1–20. https://doi.org/10.1080/09669582.2020. 1758708.
  • Güngör-Göksu, G. (2020). Küresel salgına yönelik alınan mali önlemlerin bütçe ve borçlanma üzerine etkileri [The effects of the fiscal measures taken against the global epidemic on the budget and borrowing]. In H. Kılıçaslan (Ed.). COVID-19: Küresel pandeminin ekonomik ve mali etkileri [COVID-19: Economic and financial ımpacts of the global pandemic] (71-98). Gazi Publisher.
  • Hale, T., Angrist, N., Goldszmidt, R., Kira, B., Petherick, A., Phillips, T., Webster, S., Blake, E. C., Hallas, L., Majumdar, S., & Tatlow, H. (2021). A global panel database of pandemic policies (Oxford COVID-19 Government Response Tracker). Nature Human Behaviour. https://doi.org/10.1038/s41562-021-01079-8.
  • Heald, D., & R. Hodges (2020). The accounting, budgeting and fiscal impact of COVID-19 on the United Kingdom. Journal of Public Budgeting, Accounting & Financial Management, 32(5), 785-795. DOI 10.1108/JPBAFM-07-2020-0121.
  • International Monetary Fund. (2020a). World economic outlook: A long and difficult ascent. IMF. Retrieved 01 April 2020. https://www.imf.org/en/Publications/WEO/Issues/2020/09/30/world-economic-outlook-october-2020.
  • International Money Fund (2020b). Challenges in forecasting tax revenue. IMF. Retrieved 25 March 2020. https://www.imf.org/~/media/Files/Publications/covid19-special-notes/en-special-series-on-covid-19-challenges-in-forecasting-tax-revenue.ashx?la=en.
  • Jose, J., Mishra, P., & Pathak, R. (2020), Fiscal and monetary response to the COVID-19 pandemic in India. Journal of Public Budgeting, Accounting & Financial Management, 33(1), 56-68. https://doi.org/10.1108/JPBAFM-07-2020-0119.
  • Kaçak, H. & Yıldız, M. S. (2020). Stringency of government responses to COVID-19 and initial results: A comparison between five European countries and Turkey. Türk Hijyen ve Deneysel Biyoloji Dergisi, 77(2): 233-242. DOI: 10.5505/TurkHijyen.2020.60487.
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There are 67 citations in total.

Details

Primary Language English
Subjects Economics
Journal Section Articles
Authors

Gonca Güngör Göksu 0000-0003-0230-7391

Publication Date December 25, 2021
Submission Date July 24, 2021
Acceptance Date October 30, 2021
Published in Issue Year 2021 Volume: 6 Issue: 2

Cite

APA Güngör Göksu, G. (2021). Turkey’s Budgetary Responses to the Pandemic and Comparison of the Stringency Level of Interventions in Turkey and Countries in East, South, and Southeast Asia. International Journal of Public Finance, 6(2), 263-290. https://doi.org/10.30927/ijpf.974167

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