KAMU BORÇLARININ BÜYÜME ÜZERİNDEKİ ETKİSİ: SEÇİLMİŞ ÜLKELERDE PANEL ANALİZİ

Öz

Ekonomi tarihi boyunca krizlerin varlığı yeni kaynaklara ihtiyaç duyulmasına neden olmuştur. Çoğu zaman kamu borcu yeni bir kaynak olarak önemli hale gelmektedir. Bu amaçla çalışma şu soruları açıklamaya çalışmaktadır: Kamu borcu ile ekonomik büyüme arasında bir ilişki var mıdır ve aralarında bir ilişki varsa bu etkinin büyüklüğü veya gücü nedir? Bu bağlamda, 1980-2017 döneminde Avusturya, Belçika, Danimarka, Finlandiya, Fransa, Almanya, Yunanistan, İtalya, Lüksemburg, Norveç, Portekiz, İspanya, İsveç ve Türkiye olmak üzere seçilen 14 Avrupa ülkesi için panel analizi yapılmıştır. Sonuçlar, Danimarka ve Norveç dışında, kamu borcunun ekonomik büyüme üzerinde farklı paylarla zararlı bir etkiye sahip olduğunu göstermiştir.

Anahtar Kelimeler

• Kamu borcu
• Ekonomik büyüme
• Panel Analiz
• AMG Tahmincisi

THE IMPACT OF PUBLIC DEBT ON GROWTH: A PANEL ANALYSIS IN SELECTED COUNTRIES

Abstract

The existence of economic crises has created a need for new sources through economic history. Most of the time, public debt becomes crucial as a new source. For this purpose, the study tries to explain these questions: Is there any relationship between public debt and economic growth, and if there is a relationship between them what is the size or power of this effect. In this context, panel analysis has been made for selected 14 European countries which are Austria, Belgium, Denmark, Finland, France, Germany, Greece, Italy, Luxembourg, Norway, Portugal, Spain, Sweden, and Turkey at the time of 1980-2017. The results indicated that public debt has a detrimental effect on economic growth with different shares, except Denmark and Norway.

Keywords

• Public debt
• Economic growth
• Panel Analysis
• AMG Estimator

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