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AB Borç Krizi ve Makroekonomik Göstergelerle Türkiye-PIIGS (Portekiz, İrlanda, İtalya, Yunanistan, İspanya) Ülkeleri Değerlendirmesi

Yıl 2021, Sayı: 10, 292 - 321, 15.08.2021
https://doi.org/10.21733/ibad.882959

Öz

2008-2009'daki Küresel Kriz ile birlikte birçok AB ülkesinde borç krizlerinin patlak vermesi, AB içindeki ekonomik dengesizlikler konusundaki tartışmaların genişlemesine yol açmıştır. Dolayısıyla krizin nedenleri ve etkilerini çeşitli yönleriyle irdeleyen çalışmalar da akademik literatürde yerlerini almıştır. Avro Bölgesi’nin en kırılgan ekonomileri olarak görülen ve krizi ağır biçimde yüklenmek zorunda kalan Portekiz, İrlanda, İtalya, Yunanistan ve İspanya’dan oluşan “çevre ülkeleri ” grubu literatürde yerini almıştır. Bu çalışmada 2008 Küresel Krizi’nin AB’ye yansımaları ve AB Borç Krizi’ne dönüşme süreci ele alınıp, krizden çıkış için uygulanan yapısal reformlar incelenip bunların başarısı tartışılmıştır. Buna ek olarak, ele aldığımız AB üyesi ülkelerin literatürde birlikte anılmalarına neden olan ekonomik yapıları, Türkiye ile birlikte değerlendirilip makroekonomik göstergelerle ilgili yakınsama değerlendirilmiştir.

Destekleyen Kurum

Manisa Celal Bayar Üniversitesi Bilimsel Araştırma Projeleri Koordinasyon Birimi

Proje Numarası

2017-182

Kaynakça

  • Adler, G. (2012). Intertwined Sovereign and Bank Solvencies in a Model of Self-Fulfilling Crisis. IMF Working Paper. 12/178. https://ssrn.com/abstract=2169723, (27.08.2018).
  • Arghyrou, M.G.; Kontonikas, A. (2010). The EMU Sovereign-Debt Crisis: Fundamentals, Expectations and Contagion. Cardiff Economics Working Papers. No: E2010/9. https://www.econstor.eu/bitstream/10419/65760/1/637462076.pdf. (03.07.2018).
  • Baştürk, M.F. (2015). The Responses of Greece and Ireland to the Crisis. Çanakkale Onsekiz Mart Üniversitesi Yönetim Bilimleri Dergisi. 13 (26): 221-239.
  • Bernanke, B.S., Gertler, M. (1995). Inside the Black Box: The Credit Channel of Monetary Policy Transmission. Journal of Economic Perspectives. 9(4): 27–4.
  • Boeri, T., Jimeno, J.F, (2016). Learning from the Great Divergence in Unemployment in Europe during the Crisis. Labour Economic. 41: 32-46.
  • Bölükbaş, M. (2019). Ekonomik Büyüme ve İşgücüne Katılım İlişkisi: Türkiye ve PIIGS Ülkeleri için bir Analiz. III. Uluslararası Eurefe Kongresi Tam Metin Bildiri Kitabı, Cilt: 1 (ss.266-276), Düzenleyen Aydın Adnan Menderes Üniversitesi, Aydın İktisat Fakültesi. Aydın. 1-3 Kasım 2019.
  • Bölükbaş, M.T., Bölükbaş, M., Topal, M.H. (2018). PIIGS Ülkeleri ve Türkiye’de Kamu Borç Yükü İle Ekonomik Büyüme Arasındaki İlişki. Current Debates in Social Sciences: Proceedings of CUDES 2018 September (Edt: Pınarcıoğlu, N.Ş., Kanbak, A.) (pp.141-148). http://currentdebates.org/assets/201827_all.pdf (21.05.2019).
  • Bongardt, A., Torres, F. (2013). Forging Sustainable Growth: The Issue of Convergence of Preferences and Institutions in EMU. Convergence in the EU. 48(2): 72–92.
  • Buşega, I. (2015). Analysis of the Most Pressing Vulnerabilities of the Romanian Economy at the Start of the Global Financial Crisis. Procedia Economics and Finance. 30: 79- 90.
  • Caivano, G., Coniglio, N.D. (2016). Long-Run Drivers of Current Account Imbalances in the EU: the Role of Trade Openness. University of Bari “Aldo Moro” Series Working Papers, No: 03/2016. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2781929. (01.05.2018).
  • Canale, R. R., Marani, U. (2015). Current Account and Fiscal Imbalances in the Eurozone: Siamese Twins in an Asymmetrical Currency Union. International Economics and Economic Policy. 12: 189–203.
  • Cecioni, M., Ferrero, G. (2012). Determinants of TARGET2 Imbalances. Bank of Italy Occasional Paper, No: 13. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2176227. (06.11.2017).
  • Duman, Ö.S. (2018). The Political Economy of the Eurozone Crisis: Competitiveness and Financialization in PIIGS. Journal of Balkan and Near Eastern Studies. 20(3): 211-229. ECB (2011). Target2 Balances of National Central Banks in the Euro Area, Monthly Bulletin, October 2011. https://www.ecb.europa.eu/pub/pdf/other/mb201110_focus04.en.pdf?5b5cef146de84207998b4ede47d35889 (20.04.2020).
  • ECB (2020). Statistical Data WareHouse. http://sdw.ecb.europa.eu/browseChart.do?org.apache.struts.taglib.html.TOKEN=1437699efc4e1bfd1fae4296f0e80f97&df=true&ec=&dc=&oc=&pb=&rc=&DATASET=0&removeItem=&removedItemList=&mergeFilter=&activeTab=TGB&showHide=&REF_AREA.265=ES&REF_AREA.265=GR&REF_AREA.265=IE&REF_AREA.265=IT&REF_AREA.265=PT&MAX_DOWNLOAD_SERIES=500&SERIES_MAX_NUM=50&node=bbn4859&legendPub=published (17.09.2019).
  • Ersoy, İmre (2011). The Impact of Financial Openness on Financial Development, Growth and Volatility in Turkey: Evidence from the Ardl Bounds Tests, Economic Research. 24(3): 33-44.
  • Eurostat (a). https://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=irt_lt_mcby_m&lang=en (26.09.2019).
  • Eurostat (b). https://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=gov_10dd_edpt1&lang=en (26.09.2019).
  • Ferreiro, J., Gomez, C. (2016). Financialization and Financial Balance Sheets of Economic Sectors in the Eurozone. Financial Liberalisation Past, Present and Future (e-book).
  • Fink, S. (2013). Policy Convergence with or without the European Union: the Interaction of Policy Success, EU Membership and Policy Convergence. Journal of Common Market Studies. 51(4): 631–648.
  • Frieden, J. & Walter, S. (2017). Understanding the Political Economy of the Eurozone Crisis. Annu. Rev. Polit. Sci. 20, 371-390.
  • Gediz Oral, B. (2017). Kamu Özel Sektör İşbirlikleri Finansmanı Rant Vergisi. Ankara: Gazi Kitabevi.

Debt Crisis and Macroeconomic Indicators of Turkey-EU with the PIIGS (Portugal, Ireland, Italy, Greece, Spain) Country Review

Yıl 2021, Sayı: 10, 292 - 321, 15.08.2021
https://doi.org/10.21733/ibad.882959

Öz

The outbreak of debt crises in many EU countries, together with the Global Crisis in 2008-2009, let to a widening of the debate on economic imbalances within the EU. Therefore, studies that examine the causes and effects of crisis in various aspects have also taken place in the academic literature. The “peripheral countries” group consisting of Portugal, Ireland, Italy, Greece and Spain, which are seen as the most fragile economies of the Eurozone and had to bear the crisis heavily, took its place in the literature. In this study, the reflections of the 2008 Global Crisis on the EU and the transformation process into the EU Debt Crisis are discussed, the structural reforms applied to exit the crisis are examined and their success is discussed. In addition, the economic structure that causes them together referred to in the literature of EU member countries we have discussed, convergence was evaluated regarding macroeconomic indicators evaluated together with Turkey.

Proje Numarası

2017-182

Kaynakça

  • Adler, G. (2012). Intertwined Sovereign and Bank Solvencies in a Model of Self-Fulfilling Crisis. IMF Working Paper. 12/178. https://ssrn.com/abstract=2169723, (27.08.2018).
  • Arghyrou, M.G.; Kontonikas, A. (2010). The EMU Sovereign-Debt Crisis: Fundamentals, Expectations and Contagion. Cardiff Economics Working Papers. No: E2010/9. https://www.econstor.eu/bitstream/10419/65760/1/637462076.pdf. (03.07.2018).
  • Baştürk, M.F. (2015). The Responses of Greece and Ireland to the Crisis. Çanakkale Onsekiz Mart Üniversitesi Yönetim Bilimleri Dergisi. 13 (26): 221-239.
  • Bernanke, B.S., Gertler, M. (1995). Inside the Black Box: The Credit Channel of Monetary Policy Transmission. Journal of Economic Perspectives. 9(4): 27–4.
  • Boeri, T., Jimeno, J.F, (2016). Learning from the Great Divergence in Unemployment in Europe during the Crisis. Labour Economic. 41: 32-46.
  • Bölükbaş, M. (2019). Ekonomik Büyüme ve İşgücüne Katılım İlişkisi: Türkiye ve PIIGS Ülkeleri için bir Analiz. III. Uluslararası Eurefe Kongresi Tam Metin Bildiri Kitabı, Cilt: 1 (ss.266-276), Düzenleyen Aydın Adnan Menderes Üniversitesi, Aydın İktisat Fakültesi. Aydın. 1-3 Kasım 2019.
  • Bölükbaş, M.T., Bölükbaş, M., Topal, M.H. (2018). PIIGS Ülkeleri ve Türkiye’de Kamu Borç Yükü İle Ekonomik Büyüme Arasındaki İlişki. Current Debates in Social Sciences: Proceedings of CUDES 2018 September (Edt: Pınarcıoğlu, N.Ş., Kanbak, A.) (pp.141-148). http://currentdebates.org/assets/201827_all.pdf (21.05.2019).
  • Bongardt, A., Torres, F. (2013). Forging Sustainable Growth: The Issue of Convergence of Preferences and Institutions in EMU. Convergence in the EU. 48(2): 72–92.
  • Buşega, I. (2015). Analysis of the Most Pressing Vulnerabilities of the Romanian Economy at the Start of the Global Financial Crisis. Procedia Economics and Finance. 30: 79- 90.
  • Caivano, G., Coniglio, N.D. (2016). Long-Run Drivers of Current Account Imbalances in the EU: the Role of Trade Openness. University of Bari “Aldo Moro” Series Working Papers, No: 03/2016. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2781929. (01.05.2018).
  • Canale, R. R., Marani, U. (2015). Current Account and Fiscal Imbalances in the Eurozone: Siamese Twins in an Asymmetrical Currency Union. International Economics and Economic Policy. 12: 189–203.
  • Cecioni, M., Ferrero, G. (2012). Determinants of TARGET2 Imbalances. Bank of Italy Occasional Paper, No: 13. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2176227. (06.11.2017).
  • Duman, Ö.S. (2018). The Political Economy of the Eurozone Crisis: Competitiveness and Financialization in PIIGS. Journal of Balkan and Near Eastern Studies. 20(3): 211-229. ECB (2011). Target2 Balances of National Central Banks in the Euro Area, Monthly Bulletin, October 2011. https://www.ecb.europa.eu/pub/pdf/other/mb201110_focus04.en.pdf?5b5cef146de84207998b4ede47d35889 (20.04.2020).
  • ECB (2020). Statistical Data WareHouse. http://sdw.ecb.europa.eu/browseChart.do?org.apache.struts.taglib.html.TOKEN=1437699efc4e1bfd1fae4296f0e80f97&df=true&ec=&dc=&oc=&pb=&rc=&DATASET=0&removeItem=&removedItemList=&mergeFilter=&activeTab=TGB&showHide=&REF_AREA.265=ES&REF_AREA.265=GR&REF_AREA.265=IE&REF_AREA.265=IT&REF_AREA.265=PT&MAX_DOWNLOAD_SERIES=500&SERIES_MAX_NUM=50&node=bbn4859&legendPub=published (17.09.2019).
  • Ersoy, İmre (2011). The Impact of Financial Openness on Financial Development, Growth and Volatility in Turkey: Evidence from the Ardl Bounds Tests, Economic Research. 24(3): 33-44.
  • Eurostat (a). https://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=irt_lt_mcby_m&lang=en (26.09.2019).
  • Eurostat (b). https://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=gov_10dd_edpt1&lang=en (26.09.2019).
  • Ferreiro, J., Gomez, C. (2016). Financialization and Financial Balance Sheets of Economic Sectors in the Eurozone. Financial Liberalisation Past, Present and Future (e-book).
  • Fink, S. (2013). Policy Convergence with or without the European Union: the Interaction of Policy Success, EU Membership and Policy Convergence. Journal of Common Market Studies. 51(4): 631–648.
  • Frieden, J. & Walter, S. (2017). Understanding the Political Economy of the Eurozone Crisis. Annu. Rev. Polit. Sci. 20, 371-390.
  • Gediz Oral, B. (2017). Kamu Özel Sektör İşbirlikleri Finansmanı Rant Vergisi. Ankara: Gazi Kitabevi.
Toplam 21 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Araştırma Makaleleri
Yazarlar

Burcu Gediz Oral 0000-0001-7096-9288

Tuğba Arpazlı Fazlılar 0000-0001-8838-8959

Proje Numarası 2017-182
Yayımlanma Tarihi 15 Ağustos 2021
Kabul Tarihi 16 Mart 2021
Yayımlandığı Sayı Yıl 2021 Sayı: 10

Kaynak Göster

APA Gediz Oral, B., & Arpazlı Fazlılar, T. (2021). AB Borç Krizi ve Makroekonomik Göstergelerle Türkiye-PIIGS (Portekiz, İrlanda, İtalya, Yunanistan, İspanya) Ülkeleri Değerlendirmesi. IBAD Sosyal Bilimler Dergisi(10), 292-321. https://doi.org/10.21733/ibad.882959

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