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Türkiye’de Kamu Harcamalarının Özel Yatırımlar Üzerindeki Dışlama Etkisi: Koentegrasyon Analizi

Year 2011, Volume: 1 Issue: 8, 11 - 20, 01.12.2011

Selim Başar Özgür Polat Sabiha Oltulular

Abstract

Keywords

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References

  • AHMED H, MILLER S (2000). Crowding-Out and Crowding-in Effects of the Components of Government Expenditure. Contemporary Economic Policy. 18(1): 124–133.
  • ALTUNÇ ÖF, ŞENTÜRK B (2010). Türkiye’de Özel Yatırımlar ve Kamu Yatırımları Arasındaki İlişkinin Ampirik Analizi: Sınır Testi Yaklaşımı. Maliye Dergisi. 158: 531-546.
  • ASCHAUER DA (1989a). Is Public Expenditure Productive?. Journal of Monetary Economics. 23: 177-200.
  • ASCHAUER DA (1989b). Does Public Capital Crowd Out Private Capital?. Journal
  • ATUKEREN E (2005). Interactions Between Public and Private Investment: Evidence from Developing Countries. Kyklos. 58(3): 307-330
  • BAHMANI-OSKOOEE M (1999). Do Federal Budget Deficits Crowd Out or Crowd In Private Investment? Journal of Policy Modeling. 21(5): 633–40.
  • CHAKRABORTY SL (2007). Fiscal Deficit. Capital Formation. and Crowding Out: Evidence From India. Working Papers.
  • DICKEY DA, FULLER WA (1979). Distribution of the Estimators for Autoregressive Time Series with A Unit Root. Journal of the American Statistical Association. 74: 427-31.
  • EVERHART SS, SUMLINSKI MA (2000). Trends in Private Investment in Developing Countries. Statistics for 1970–2000. IFC Discussion Paper. 44 (Washington. D.C.. World Bank).
  • GHALI KH (1998). Public Investment and Private Capital Formation in A Vector- Error Correction Model of Growth. Applied Economics. 30: 837–44.
  • GREENE J, VILLANUEVA D (1991). Private Investment in Developing Countries: An Empirical Analysis. IMF Staff Papers. 38(1): 33–58.
  • HUSSAIN A, MOHAMMAD SD, AKRAM K, LAL I (2009). Effectiveness of Government Expenditure Crowding-In or Crowding-Out: Empirical Evidence in Case of Pakistan. European Journal of Economics. Finance and Administrative Sciences. 16: 144-149.
  • JOHANSEN S (1988) Statistical analysis of cointegration vectors. Journal of Economic Dynamics and Control. 12: 231–255
  • JOHANSEN S, JUSELIUS K (1990). Maximum Likelihood Estimation and Inference on Cointegration: With Applications to the Demand for Money. Oxford Bulletin of Economics and Statistics. 52: 169-210.
  • KARAGÖL E (2004). A Disaggregated Analysis of Government Expenditures and Private Investment in Turkey. Journal of Economic Cooperation. 25(2): 131- 144.
  • KHAN REA, GILL AR (2009). Crowding Out Effect of Public Borrowing: A Case of Pakistan. MPRA Paper 16292. University Library of Munich. Germany.
  • KWIATKOWSKI D, Phillips PCB, Schmidt P, Shin Y (1992). Testing the Null Hypothesis of Stationarity Against the Alternative of a Unit Root. How Sure Are We That Economic Time Series Have a Unit Root?. Journal of Econometrics. 54: 159-78.
  • KUŞTEPELI Y (2005). Effectiveness of Fiscal Spending: Crowding out and/or Crowding in? Yönetim ve Ekonomi. 2(1): 185-92.
  • MONADJEMI MS (1993). Fiscal Policy and Private Investment Expenditure: A Study of Australia and the United States. Applied Economics. 25: 143–148.
  • NAZMI N, RAMIREZ MD (1997). Public and Private Investment and Economic Growth in Mexico. Contemporary Economic Policy. 15(1): 65-75.
  • PHILLIPS PCB, PERRON P (1988). Testing for A Unit Root in time Series Regressions. Biometrika. 75: 335-46.
  • ŞIMŞEK M (2003). Kamu Harcamalarının Özel Yatırımlara Etkileri. 1970-2001. C.Ü. İktisadi ve İdari Bilimler Dergisi. 4(2): 1-20.
  • YAVUZ, NÇ (2005). Türkiye’de Kamu Harcamalarının Özel Sektör Yatırım Harcamalarını Dışlama Etkisinin Testi (1980-2003). Marmara Üniversitesi İİBF Dergisi. 20(1):269-284.

CROWDING OUT EFFECT OF GOVERNMENT SPENDING ON PRIVATE INVESTMENTS IN TURKEY: A COINTEGRATION ANALYSIS

Year 2011, Volume: 1 Issue: 8, 11 - 20, 01.12.2011

Selim Başar Özgür Polat Sabiha Oltulular

Abstract

Bu çalışmada 1987:Q1-2007:Q3. dönemine ait veri kullanılarak JohansenJuselius koentegrasyon analizi uygulanmış ve Türkiye’deki kamu harcamalarının özel yatırımlar üzerindeki etkisi araştırılmıştır. Çalışmadan elde edilen bulgulara göre toplam kamu harcamaları ve transfer harcamaları dışlama etkisinin aksine özel yatırımları desteklemektedir. Hükümetin yatırım harcamaları ise dışlama etkisi hipotezini doğrular şekilde özel yatırımlar üzerinde negatif etkiye sahiptir. Çalışmadan elde edilen diğer bulgulara göre, GSYİH özel yatırımları pozitif, faiz oranları ise negatif olarak etkilemektedir

Keywords

Dışlama Etkisi Kamu Harcamaları Özel Yatırımlar Koentegrasyon

References

  • AHMED H, MILLER S (2000). Crowding-Out and Crowding-in Effects of the Components of Government Expenditure. Contemporary Economic Policy. 18(1): 124–133.
  • ALTUNÇ ÖF, ŞENTÜRK B (2010). Türkiye’de Özel Yatırımlar ve Kamu Yatırımları Arasındaki İlişkinin Ampirik Analizi: Sınır Testi Yaklaşımı. Maliye Dergisi. 158: 531-546.
  • ASCHAUER DA (1989a). Is Public Expenditure Productive?. Journal of Monetary Economics. 23: 177-200.
  • ASCHAUER DA (1989b). Does Public Capital Crowd Out Private Capital?. Journal
  • ATUKEREN E (2005). Interactions Between Public and Private Investment: Evidence from Developing Countries. Kyklos. 58(3): 307-330
  • BAHMANI-OSKOOEE M (1999). Do Federal Budget Deficits Crowd Out or Crowd In Private Investment? Journal of Policy Modeling. 21(5): 633–40.
  • CHAKRABORTY SL (2007). Fiscal Deficit. Capital Formation. and Crowding Out: Evidence From India. Working Papers.
  • DICKEY DA, FULLER WA (1979). Distribution of the Estimators for Autoregressive Time Series with A Unit Root. Journal of the American Statistical Association. 74: 427-31.
  • EVERHART SS, SUMLINSKI MA (2000). Trends in Private Investment in Developing Countries. Statistics for 1970–2000. IFC Discussion Paper. 44 (Washington. D.C.. World Bank).
  • GHALI KH (1998). Public Investment and Private Capital Formation in A Vector- Error Correction Model of Growth. Applied Economics. 30: 837–44.
  • GREENE J, VILLANUEVA D (1991). Private Investment in Developing Countries: An Empirical Analysis. IMF Staff Papers. 38(1): 33–58.
  • HUSSAIN A, MOHAMMAD SD, AKRAM K, LAL I (2009). Effectiveness of Government Expenditure Crowding-In or Crowding-Out: Empirical Evidence in Case of Pakistan. European Journal of Economics. Finance and Administrative Sciences. 16: 144-149.
  • JOHANSEN S (1988) Statistical analysis of cointegration vectors. Journal of Economic Dynamics and Control. 12: 231–255
  • JOHANSEN S, JUSELIUS K (1990). Maximum Likelihood Estimation and Inference on Cointegration: With Applications to the Demand for Money. Oxford Bulletin of Economics and Statistics. 52: 169-210.
  • KARAGÖL E (2004). A Disaggregated Analysis of Government Expenditures and Private Investment in Turkey. Journal of Economic Cooperation. 25(2): 131- 144.
  • KHAN REA, GILL AR (2009). Crowding Out Effect of Public Borrowing: A Case of Pakistan. MPRA Paper 16292. University Library of Munich. Germany.
  • KWIATKOWSKI D, Phillips PCB, Schmidt P, Shin Y (1992). Testing the Null Hypothesis of Stationarity Against the Alternative of a Unit Root. How Sure Are We That Economic Time Series Have a Unit Root?. Journal of Econometrics. 54: 159-78.
  • KUŞTEPELI Y (2005). Effectiveness of Fiscal Spending: Crowding out and/or Crowding in? Yönetim ve Ekonomi. 2(1): 185-92.
  • MONADJEMI MS (1993). Fiscal Policy and Private Investment Expenditure: A Study of Australia and the United States. Applied Economics. 25: 143–148.
  • NAZMI N, RAMIREZ MD (1997). Public and Private Investment and Economic Growth in Mexico. Contemporary Economic Policy. 15(1): 65-75.
  • PHILLIPS PCB, PERRON P (1988). Testing for A Unit Root in time Series Regressions. Biometrika. 75: 335-46.
  • ŞIMŞEK M (2003). Kamu Harcamalarının Özel Yatırımlara Etkileri. 1970-2001. C.Ü. İktisadi ve İdari Bilimler Dergisi. 4(2): 1-20.
  • YAVUZ, NÇ (2005). Türkiye’de Kamu Harcamalarının Özel Sektör Yatırım Harcamalarını Dışlama Etkisinin Testi (1980-2003). Marmara Üniversitesi İİBF Dergisi. 20(1):269-284.
There are 23 citations in total.

Details

Primary Language Turkish
Journal Section Articles
Authors

Selim Başar This is me

Özgür Polat This is me

Sabiha Oltulular

Publication Date December 1, 2011
Published in Issue Year 2011 Volume: 1 Issue: 8

Cite

APA Başar, S., Polat, Ö., & Oltulular, S. (2011). CROWDING OUT EFFECT OF GOVERNMENT SPENDING ON PRIVATE INVESTMENTS IN TURKEY: A COINTEGRATION ANALYSIS. Kafkas Üniversitesi Sosyal Bilimler Enstitü Dergisi, 1(8), 11-20.
AMA Başar S, Polat Ö, Oltulular S. CROWDING OUT EFFECT OF GOVERNMENT SPENDING ON PRIVATE INVESTMENTS IN TURKEY: A COINTEGRATION ANALYSIS. Kafkas Üniversitesi Sosyal Bilimler Enstitü Dergisi. December 2011;1(8):11-20.
Chicago Başar, Selim, Özgür Polat, and Sabiha Oltulular. “CROWDING OUT EFFECT OF GOVERNMENT SPENDING ON PRIVATE INVESTMENTS IN TURKEY: A COINTEGRATION ANALYSIS”. Kafkas Üniversitesi Sosyal Bilimler Enstitü Dergisi 1, no. 8 (December 2011): 11-20.
EndNote Başar S, Polat Ö, Oltulular S (December 1, 2011) CROWDING OUT EFFECT OF GOVERNMENT SPENDING ON PRIVATE INVESTMENTS IN TURKEY: A COINTEGRATION ANALYSIS. Kafkas Üniversitesi Sosyal Bilimler Enstitü Dergisi 1 8 11–20.
IEEE S. Başar, Ö. Polat, and S. Oltulular, “CROWDING OUT EFFECT OF GOVERNMENT SPENDING ON PRIVATE INVESTMENTS IN TURKEY: A COINTEGRATION ANALYSIS”, Kafkas Üniversitesi Sosyal Bilimler Enstitü Dergisi, vol. 1, no. 8, pp. 11–20, 2011.
ISNAD Başar, Selim et al. “CROWDING OUT EFFECT OF GOVERNMENT SPENDING ON PRIVATE INVESTMENTS IN TURKEY: A COINTEGRATION ANALYSIS”. Kafkas Üniversitesi Sosyal Bilimler Enstitü Dergisi 1/8 (December 2011), 11-20.
JAMA Başar S, Polat Ö, Oltulular S. CROWDING OUT EFFECT OF GOVERNMENT SPENDING ON PRIVATE INVESTMENTS IN TURKEY: A COINTEGRATION ANALYSIS. Kafkas Üniversitesi Sosyal Bilimler Enstitü Dergisi. 2011;1:11–20.
MLA Başar, Selim et al. “CROWDING OUT EFFECT OF GOVERNMENT SPENDING ON PRIVATE INVESTMENTS IN TURKEY: A COINTEGRATION ANALYSIS”. Kafkas Üniversitesi Sosyal Bilimler Enstitü Dergisi, vol. 1, no. 8, 2011, pp. 11-20.
Vancouver Başar S, Polat Ö, Oltulular S. CROWDING OUT EFFECT OF GOVERNMENT SPENDING ON PRIVATE INVESTMENTS IN TURKEY: A COINTEGRATION ANALYSIS. Kafkas Üniversitesi Sosyal Bilimler Enstitü Dergisi. 2011;1(8):11-20.
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