Öz
The article starts by noting that there were two periods —namely, "the foundation years" (1923-32) and the years marked by the rise of globalization (the post-1980 period)— during which economic policies pursued aimed at shaping the future of the republic and that these policies found their reflections in the budgets. It then proceeds to compare and contrast the budgetary policies of these two periods.The first section that analyses the characteristics of the budgets in "the 1923-32 period", emphasizes that the period was marked by fiscal and monetary discipline, that in all but 3 years of the period budgets gave surpluses, so that no domestic debt accumulation occurred; that the money supply showed hardly any increase, yielding a stable price level; and that the current account was also kept more or less in balance, resulting in a remarkably stable foreign exchange rate. Also, the deviations from budgetary targets were minimal or non-existent through this period.In contrast, the post 1980 period and especially the years following 1989 when Turkey opened her capital account, was marked by great deviations from budgetary targets, increasing budgetary deficits, chronic high inflation-rates. rapidly increasing domestic and foreign debt stock and a rapidly increasing ratio of interest payments to total tax revenues. The latter, which was below 8% both in the foundation and in the 1980-1983 period, increased to about 30% in the following ten years; to 57% between 1994-1998 and thereon skyrocketed to reach over 70%. Meanwhile the share of investment expenditures in the budget plummeted.. The authors conclude by saying that these developments led to a debt quagmire, pernicious instability in financial markets, a surrender of initiative to the IMF and the WB and a "dismantling of the social welfare state", which however, failed to reduce the "economic size of the state" : In the post 1983 period, marked with polemics about the desirability of shrinking the role of the state İn the economy, the ratio of public expenditures, ironically, increased from less than 20% of the GNPto more than 40%
Cumhuriyetin Kuruluş Yılları ve 80 Sonrası Dönemin Bütçe Politikaları - Uygulamaları: Devletin İnşasından Devletin Tasfiyesine
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Ayrıntılar
| Diğer ID | JA92MP34MR |
|---|---|
| Bölüm | Makaleler |
| Yazarlar | |
| Yayımlanma Tarihi | 1 Aralık 2003 |
| Yayımlandığı Sayı | Yıl 2003 Cilt: 5 Sayı: 2 |