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Effect of Government Expenditure on GDP in the Turkish Economy

Yıl 2017, Cilt 9, Sayı 2, 69 - 76, 04.10.2017
https://doi.org/10.33818/ier.336791

Öz


The objective of this article is to investigate the effect of government expenditure on GDP in Turkey from 2000Q1-2015Q4 by the superexogeneity test. As a consequence of satisfying both conditions of weak exogeneity and structural invariance, government expenditure is  superexogenous to GDP which implies that the policy regime shift for the period of the Global Financial Crisis in Turkey did not cause structural variance in government expenditure. Indeed, the Lucas Critique which indicates that policy regime shifts cause structural breaks, appears to be refuted.

Kaynakça

  • Ball, L., & Mazumder, S. (2015). A Phillips Curve with Anchored Expectations and Short-Term Unemployment. IMF Working Paper. https://doi.org/10.3386/w20715
  • Berlemann, M., & Wesselhöft, J.-E. (2014). Estimating aggregate capital stocks using the perpetual inventory method. Review of Economics, 65(1), 1–34.
  • Castelnuovo, E. (2008). Regime shifts and the stability of backward-looking Phillips curves in open economies. Journal of International Money and Finance, 27(1), 40–53. https://doi.org/10.1016/j.jimonfin.2007.09.004
  • Davidson, J. E., Hendry, D., Srba, F., & Yeo, S. (1978). Econometric Modelling of the Aggregate Time-Series Relationship Between Consumers’ Expenditure and Income in the United Kingtom. The Economic Journal, 88, 661–692.
  • Engle, R. F., & Hendry, D. F. (1993). Testing superexogeneity and invariance in regression models. Journal of Econometrics, 56(1–2), 119–139. https://doi.org/10.1016/0304-4076(93)90103-C
  • Engle, R. F., Hendry, D. F., & Richard, J.-F. (1983). Exogeneity. Journal of Econometric Society, 277–304.
  • Habibullah, M. S., Azali, M., & Baharumshah, A. Z. (2001). Money, income and the Lucas critique: the case for Malaysia. Analisis, 8(1&2), 69–85. Retrieved from http://repo.uum.edu.my/431/
  • Hurn, A. S., & Muscatelli, V. A. (1992). Testing Superexogeneity: the Demand for Broad Money in the Uk. Oxford Bulletin of Economics and Statistics, 54(4), 543–556. https://doi.org/10.1111/j.1468-0084.1992.mp54004004.x
  • Karunaratne, N. D. (1996). Growth and trade dynamics under regime shifts in Australia. Journal of Economic Studies, 23(2), 55–69.
  • Lindé, J. (2001). Testing for the Lucas critique: A quantitative investigation. American Economic Review, 91(4), 986–1005.
  • Lucas, R. E. (1976). Econometric policy evaluation: A Critique. Carnegie-Rochester Conference Series on Public Policy, 1(1), 19–46. https://doi.org/10.1080/000368497327344
  • Montanaro, P. (2003). Lo stock di capitale pubblico: una stima per regione e per tipologia di bene. Rivista Economica Del Mezzogiorno, 17(3), 423–462.
  • Rudebusch, G. (2005). Assessing the Lucas critique in monetary policy models. Journal of Money, Credit and Banking, 37(2), 245–72. https://doi.org/10.1353/mcb.2005.0024
  • Valadkhani, A. (1998). Effect of government capital expenditure on GDP in the Iranian economy using superexogeneity testing. Applied Economics Letters, 5(6), 361–364. https://doi.org/10.1080/135048598354726

Yıl 2017, Cilt 9, Sayı 2, 69 - 76, 04.10.2017
https://doi.org/10.33818/ier.336791

Öz

Kaynakça

  • Ball, L., & Mazumder, S. (2015). A Phillips Curve with Anchored Expectations and Short-Term Unemployment. IMF Working Paper. https://doi.org/10.3386/w20715
  • Berlemann, M., & Wesselhöft, J.-E. (2014). Estimating aggregate capital stocks using the perpetual inventory method. Review of Economics, 65(1), 1–34.
  • Castelnuovo, E. (2008). Regime shifts and the stability of backward-looking Phillips curves in open economies. Journal of International Money and Finance, 27(1), 40–53. https://doi.org/10.1016/j.jimonfin.2007.09.004
  • Davidson, J. E., Hendry, D., Srba, F., & Yeo, S. (1978). Econometric Modelling of the Aggregate Time-Series Relationship Between Consumers’ Expenditure and Income in the United Kingtom. The Economic Journal, 88, 661–692.
  • Engle, R. F., & Hendry, D. F. (1993). Testing superexogeneity and invariance in regression models. Journal of Econometrics, 56(1–2), 119–139. https://doi.org/10.1016/0304-4076(93)90103-C
  • Engle, R. F., Hendry, D. F., & Richard, J.-F. (1983). Exogeneity. Journal of Econometric Society, 277–304.
  • Habibullah, M. S., Azali, M., & Baharumshah, A. Z. (2001). Money, income and the Lucas critique: the case for Malaysia. Analisis, 8(1&2), 69–85. Retrieved from http://repo.uum.edu.my/431/
  • Hurn, A. S., & Muscatelli, V. A. (1992). Testing Superexogeneity: the Demand for Broad Money in the Uk. Oxford Bulletin of Economics and Statistics, 54(4), 543–556. https://doi.org/10.1111/j.1468-0084.1992.mp54004004.x
  • Karunaratne, N. D. (1996). Growth and trade dynamics under regime shifts in Australia. Journal of Economic Studies, 23(2), 55–69.
  • Lindé, J. (2001). Testing for the Lucas critique: A quantitative investigation. American Economic Review, 91(4), 986–1005.
  • Lucas, R. E. (1976). Econometric policy evaluation: A Critique. Carnegie-Rochester Conference Series on Public Policy, 1(1), 19–46. https://doi.org/10.1080/000368497327344
  • Montanaro, P. (2003). Lo stock di capitale pubblico: una stima per regione e per tipologia di bene. Rivista Economica Del Mezzogiorno, 17(3), 423–462.
  • Rudebusch, G. (2005). Assessing the Lucas critique in monetary policy models. Journal of Money, Credit and Banking, 37(2), 245–72. https://doi.org/10.1353/mcb.2005.0024
  • Valadkhani, A. (1998). Effect of government capital expenditure on GDP in the Iranian economy using superexogeneity testing. Applied Economics Letters, 5(6), 361–364. https://doi.org/10.1080/135048598354726

Ayrıntılar

Konular Sosyal
Bölüm Makaleler
Yazarlar

Esra ŞİMŞEK
İSTANBUL BİLGİ ÜNİVERSİTESİ
Türkiye


Mehmet ORHAN Bu kişi benim
International Burch University
Bosnia and Herzegovina


Fatih MACİT Bu kişi benim
Northeast Normal University
China

Yayımlanma Tarihi 4 Ekim 2017
Yayınlandığı Sayı Yıl 2017, Cilt 9, Sayı 2

Kaynak Göster

Bibtex @araştırma makalesi { ier336791, journal = {International Econometric Review}, issn = {1308-8793}, eissn = {1308-8815}, address = {Şairler Sokak, No:32/C, Gaziosmanpaşa, Ankara}, publisher = {Ekonometrik Araştırmalar Derneği}, year = {2017}, volume = {9}, pages = {69 - 76}, doi = {10.33818/ier.336791}, title = {Effect of Government Expenditure on GDP in the Turkish Economy}, key = {cite}, author = {Şimşek, Esra and Orhan, Mehmet and Macit, Fatih} }
APA Şimşek, E. , Orhan, M. & Macit, F. (2017). Effect of Government Expenditure on GDP in the Turkish Economy . International Econometric Review , 9 (2) , 69-76 . DOI: 10.33818/ier.336791
MLA Şimşek, E. , Orhan, M. , Macit, F. "Effect of Government Expenditure on GDP in the Turkish Economy" . International Econometric Review 9 (2017 ): 69-76 <https://dergipark.org.tr/tr/pub/ier/issue/31325/336791>
Chicago Şimşek, E. , Orhan, M. , Macit, F. "Effect of Government Expenditure on GDP in the Turkish Economy". International Econometric Review 9 (2017 ): 69-76
RIS TY - JOUR T1 - Effect of Government Expenditure on GDP in the Turkish Economy AU - Esra Şimşek , Mehmet Orhan , Fatih Macit Y1 - 2017 PY - 2017 N1 - doi: 10.33818/ier.336791 DO - 10.33818/ier.336791 T2 - International Econometric Review JF - Journal JO - JOR SP - 69 EP - 76 VL - 9 IS - 2 SN - 1308-8793-1308-8815 M3 - doi: 10.33818/ier.336791 UR - https://doi.org/10.33818/ier.336791 Y2 - 2017 ER -
EndNote %0 International Econometric Review Effect of Government Expenditure on GDP in the Turkish Economy %A Esra Şimşek , Mehmet Orhan , Fatih Macit %T Effect of Government Expenditure on GDP in the Turkish Economy %D 2017 %J International Econometric Review %P 1308-8793-1308-8815 %V 9 %N 2 %R doi: 10.33818/ier.336791 %U 10.33818/ier.336791
ISNAD Şimşek, Esra , Orhan, Mehmet , Macit, Fatih . "Effect of Government Expenditure on GDP in the Turkish Economy". International Econometric Review 9 / 2 (Ekim 2017): 69-76 . https://doi.org/10.33818/ier.336791
AMA Şimşek E. , Orhan M. , Macit F. Effect of Government Expenditure on GDP in the Turkish Economy. IER. 2017; 9(2): 69-76.
Vancouver Şimşek E. , Orhan M. , Macit F. Effect of Government Expenditure on GDP in the Turkish Economy. International Econometric Review. 2017; 9(2): 69-76.
IEEE E. Şimşek , M. Orhan ve F. Macit , "Effect of Government Expenditure on GDP in the Turkish Economy", International Econometric Review, c. 9, sayı. 2, ss. 69-76, Eki. 2017, doi:10.33818/ier.336791