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Para ve Maliye Politikalarının Ekonomik Büyüme Üzerindeki Etkileri: Irak Ekonomisi Üzerine Ampirik Bir Çalışma

Yıl 2021, Cilt: 5 Sayı: 1, 6 - 32, 30.06.2021
https://doi.org/10.35342/econder.881909

Öz

Çalışmanın amacı, para ve maliye politikalarının Irak'taki ekonomik büyüme üzerindeki etkilerini açıklamaktır. Bağımlı değişken ekonomik büyüme oranıdır ve bağımsız değişkenler döviz kuru, enflasyon, parasal bir araç olarak M2, mali araçlar olarak kamu borcu, kamu harcamaları ve devlet geliridir. Veriler Irak Merkez Bankası'ndan alınmıştır ve 2005-2019 dönemini kapsamaktadır. ARDL Bound Test ve OLS, sırasıyla para ve maliye politikalarının büyüme üzerindeki etkilerini tahmin etmek için kullanılmıştır. Para politikası açısından döviz kurunun ekonomik büyümeye zarar verdiğini, enflasyon ve para arzının ise ekonomik büyümeyi olumlu etkilediğini ortaya koyulmuştur. Maliye politikası açısından bakıldığında, devlet borçlarının ve devlet harcamalarının büyüme üzerindeki etkileri olumsuz, devlet gelirleri ise olumlu olduğu belirlenmiştir.              

Destekleyen Kurum

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Proje Numarası

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Teşekkür

Teşekkür Ederim.

Kaynakça

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Effects of Monetary and Fiscal Policies on Economic Growth: An Empirical Study On The Iraqi Economy

Yıl 2021, Cilt: 5 Sayı: 1, 6 - 32, 30.06.2021
https://doi.org/10.35342/econder.881909

Öz

The purpose of the study is to explain the effects of monetary and fiscal policies on economic growth in Iraq. The dependent variable is the economic growth rate, and independent ones are exchange rate, inflation, M2 as a monetary instrument, while public debt, public expenditure, and government revenue are as fiscal instruments. The data were obtained from the Central Bank of Iraq and covers the period of 2005-2019. ARDL Bound Test and OLS were used to estimate the effects of monetary and fiscal policies on growth respectively. As for monetary policy, the results revealed that the exchange rate harms economic growth, while inflation and money supply positively affect economic growth. In terms of fiscal policy, the effects of government debt and government spending on growth seemed to be negative, while government revenues seemed to be positive

Proje Numarası

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Kaynakça

  • Referans1Abiola, J., and A. Moses (2018). Impact of Tax Administration on Government Revenue in a Developing Economy–A Case Study of Nigeria. International Journal of Business and Social Science Leicester Business School De Montfort University Department of Accounting and Finance Leicester, UK.
  • Referans2Adefeso, H.A., and H. I. Mobolaji (2010). “The Fiscal-Monetary Policy and Economic Growth in Nigeria: Further Empirical Evidence”, Pakistan Journal of Social Sciences, 7(2), 137–42.
  • Referans3Ajisafe, R.A., and B. A. Folorunso (2002). “The Relative Effectiveness of Fiscal and Monetary Policy in Macroeconomic Management in Nigeria.” The African Economic and Business Review, 3(1), 23–40.
  • Referans4Ahlborn, Markus; Schweickert, Rainer (2016). "Public debt and economic growth: Economic systems matter", Econstor.cege Discussion Papers, No. 281
  • Referans5Akacem, M., D.D. Miller, and J.L. Faulkner (2020). Oil, Institutions, and Sustainability in MENA., Springer Nature Switzerland AG 2020.
  • Referans6Ali S, Fazli R, Umar H.A., and Naveed A. (2013). "The composition of public expenditures and economic growth: evidence from Pakistan". International Journal of Social Economics The current issue and full-text archive of this journal is available at www.emeraldinsight.com/0306-8293.htm
  • Referans7Alkasasbeh O.M. A., and N. . Haron (2018). “Fiscal Policy and Its Relationship with Economic Growth : A Review Study", Saudi Journal of Business and Management Studies (SJBMS), 3(12), 1318-1323
  • Referans8Ayodeji, A., and Oluwole, A. (2018). Impact of monetary policy on economic growth in Nigeria.OpenAccess Library Journal, 5(2), 1-12.
  • Referans9Bain, M.K., and P. Howells (2003). Monetary Economics: Policy and Its Theoretical Basis. Macmillan International Higher Education.
  • Referans10Basirat, M., A. Nasirpour, and A. Jorjorzadeh (2014). “The Effect of Exchange Rate Fluctuations on Economic Growth Considering the Level of Development of Financial Markets in Selected Developing Countries.” Asian Economic and Financial Review, 4(4), 517–28.
  • Referans11Bayrak, R.(2019). "Does the Optimal Size of Defense Expenditure Exist?, An Empirical Study on Turkey", The Journal of Defense Sciences, May 2019, 18(1), 135-160.
  • Referans12Bayrak, R. (2020). “Optimal Public Expenditure in Sustainable Development”, Sustainable Development: Interdiciplined Approach (Eds: Rıza Bayrak and Mustafa Polat), Ankara: Nobel Publications.
  • Referans13Bernanke, B., Olekalns, N., and Frank, R. H. (2008). Principles of Macroeconomics. Publisher: McGraw-Hill Education/Australia.
  • Referans14Benhabib J. and Spiegel M.M. (2009). "Moderate inflation and the deflation–depression link", Jornal of money, Credit andBanking, 41(40),787-798.
  • Referans15Brown, R L., J. Durbin, and J.M. Evans (1975). “Techniques for Testing the Constancy of Regression Relationships over Time.” Journal of the Royal Statistical Society: Series B (Methodological), 37(2),149–63.
  • Referans16Buyandelger, O. E. (2015). “Exchange Rate Pass-through Effect and Monetary Policy in Mongolia: Small Open Economy DSGE Model.” Procedia Economics and Finance, 26, 1185–92.
  • Referans17Çetin, M., E. Ecevit, F. Seker, and D. Günaydin (2015). “Financial Development and Energy Consumption in Turkey: Empirical Evidence from Cointegration and Causality Tests.”, p.297–314 in Handbook of Research on Behavioral Finance and Investment Strategies: Decision Making in the Financial Industry. IGI Global.
  • Referans18Chen, J . (2012 ). Real Exchange Rate and Economic Growth: Evidence from Chinese Provincial Data (1992 - 2008). 2012. halshs-00667467f
  • Referans19Chowdhury, A. R., J. S. Fackler, and W. D. McMillin (1986). “Monetary Policy, Fiscal Policy, and Investment Spending: An Empirical Analysis,” Southern Economic Journal, 52(3), 794–806.
  • Referans20Congress.gov. "H.R.8 - American Taxpayer Relief Act of 2012", https://www.congress.gov/bill/112th-congress/house-bill/8, Accessed Date: 23 September 2019.
  • Referans21Cornelius M. Ojong, Ogar Anthony. Oka Felix Arikpo.(2016)The Impact of Tax Revenue on Economic Growth: Evidence from Nigeria. IOSR Journal of Economics and Finance (IOSR-JEF)e-ISSN: 2321-5933, p-ISSN: 2321-5925.Volume 7, Issue 1. Ver. I (Jan. -Feb. 2016), PP 32-38
  • Referans22Cyrus, M. (2014). “Monetary and Fiscal Policy Shocks and Economic Growth in Kenya: VAR Econometric Approach.” Journal of World Economic Research, 3(6), 95- 108.
  • Referans23Dai F, and Wu. S (2013), Money supply and economic growth under environmental pressure: the strategy for re-growth. J. Monetary Economics and Finance, Vol. 6, No. 1, 2013.https://www.researchgate.net/publication/264813564.
  • Referans24Devarajan, S., V. Swaroop, and H. Zou (1996). “The Composition of Public Expenditure and Economic Growth.” Journal of Monetary Economics, 37(2), 313–44.
  • Referans25Dornbusch, R. Stanley, F. and Richard, S (2011).Study Guide to Accompany Dornbusch and Fischer Macroeconomics. New York: McGraw-Hill.
  • Referans26Lupu, D., Mihai Bogdan Petrisor, Ana Bercu, and Mihaela Tofan (2018).The Impact of Public Expenditures on Economic.Growth: A Case Study of Central and Eastern European Countries, Emerging Markets Finance and Trade, European Countries Emerging Markets Finance and Trade.ISSN: 1540-496X (Print) 1558-0938 (Online) Journal homepage: tttp://www.tandfonline.com/loi/mree20
  • Referans27Eichenbaum, M., Johannsen, B. K., and Rebelo, S. (2017). Monetary policy and the predictability of nominal exchange rates (No. w23158). National Bureau of Economic Research. https://www.nber.org/papers/w23158.pdf
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  • Referans48Kogid, M., R. Asid, J. Lilly, D. Mulok, and N. Loganathan (2012). "The Effect of Exchange Rates on Economic Growth: Empirical Testing on Nominal Versus Real", The IUP Journal of Financial Economics, 0(1), 7-17.
  • Referans48Korkmaz, S. (2013). “The Effect of Exchange Rate on Economic Growth.” in Conference paper Oct 2013 Bandirma onyedi Eylul University 42 Publication 165 citation.
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  • Referans50Kweka, J.P. and Oliver M. (2002). Government Spending and Economic Growth in Tanzania, 1965-1996. Research Paper, No. 00/6, The University of Nottingham, Centre for Research in Economic Development and International Trade (CREDIT), Nottingham.
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  • Referans52Mallik, G., and A. Chowdhury (2001). “Inflation and Economic Growth: Evidence from Four South Asian Countries”, Asia-Pacific Development Journal, 8(1), 123–35.
  • Referans53Morrison, K.M. (2009). "Oil, nontax revenue and the redistribution foundations of regime stability", International Organisation, 63(1), 107–138.
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  • Referans55Mugableh, M. I. (2019). “Fiscal Policy Tools and Economic Growth in Jordan: Evidence from Time-Series Models”, International Journal of Economics and Finance, 11(1), 1–7.
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  • Referans63Omodero, C. O. (2019). Effect of money supply on economic growth: A comparative study of Nigeria and Ghana", International Journal of Social Science Studies, 7, 16-23.
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  • Referans86Zdaniuk, B (2014). Ordinary Least-Squares (OLS) Model. Netherland: Springer,
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Toplam 89 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular Finans
Bölüm Makaleler
Yazarlar

Yaşar Köse 0000-0003-0073-2095

Sakar Alı 0000-0002-9610-7616

Proje Numarası -
Yayımlanma Tarihi 30 Haziran 2021
Yayımlandığı Sayı Yıl 2021 Cilt: 5 Sayı: 1

Kaynak Göster

APA Köse, Y., & Alı, S. (2021). Effects of Monetary and Fiscal Policies on Economic Growth: An Empirical Study On The Iraqi Economy. Econder Uluslararası Akademik Dergi, 5(1), 6-32. https://doi.org/10.35342/econder.881909

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