Kamu borçlanmasının politik iktisadi temelleri

Yıl 2019, Cilt: 2 Sayı: 1, 15 - 28, 27.06.2019

Sevi Dokuzoğlu

Öz

Maliye politikası araçları; hane halkları, bölgeler ve kuşaklararası bir
yeniden dağıtım mekanizması olduğundan politik tartışmaların merkezinde
kalmıştır. Özellikle, 1929 Buhranından sonra hükümetin geliri yeniden dağıtıcı
rolü önem kazanmıştır. Diğer yandan; maliye politikası uygulamalarının
yarattığı bütçe açıkları, söz konusu açıkların büyük ölçüde borçlanma yolu ile
finanse edilmesi ve buna bağlı olarak hükümetlerin borç yükümlülüklerinde
meydana gelen sürekli artışlar, borçlanmanın ekonomi üzerinde yarattığı
etkileri önemli kılmaktadır. Bununla birlikte, uzun bir süre boyunca
hükümetlerin uyguladıkları politikalardan ziyade belirli iktisadi amaçları
gerçekleştirmek adına hangi politikaları izlemesi gerektiği analiz edilmiştir.
Ancak bu analizler aynı iktisadi koşullara sahip ülkelerin bütçe açığı,
enflasyon ve borç dinamiklerinin birbirlerinden farklılık göstermesi durumunu
tam olarak açıklayamamaktadır. İktisadi açıdan birçok konuda benzerlik gösteren
ülkelerin kurumsal ve politik açılardan; seçim yasaları, siyasi partilerin
yapısı, bütçe kanunları, merkez bankaları, politik istikrarsızlık ve sosyal
kutuplaşma gibi birçok farklılıkları bulunmaktadır. Bu çerçevede, bütçe
açıkları ve borç stokunda meydana gelen değişimlerin analiz edilmesinde politik
süreç içerisindeki kurumsal farklılıkların göz önünde bulundurulması
gerekliliği ortaya çıkmıştır. Çalışmanın amacı kamu borçlanmasının nedenlerinin
politik iktisat yaklaşımları çerçevesinde ortaya koyulmasıdır.

Anahtar Kelimeler

Maliye Politikası, Borçlanma, Politik İktisat

Political economic foundations of government debt

Öz

Fiscal policy tools have long been at the center
of political debates due to being redistribution mechanism between households,
regions and generations. In particular, income redistributive role of the
governments gained importance after the 1929 Crisis. On the other hand; the
fiscal deficits created by fiscal policy implementations, the financing of
these deficits mostly through borrowing and the continuous increases in the
debt obligations of the governments make the effects of government debt on the
economy important. It has been analyzed for a long time which policies should
be followed by the governments in order to achieve certain economic goals
rather than policies governments implemented. However, these analyses do not
fully explain the differences between the budget deficit, inflation and debt
dynamics of the countries in which have the same economic conditions. There are
many institutional and political differences such as election laws, the
structure of political parties, budget laws, central banks, political
instability and social polarization between countries, which are similar in
terms of economic aspect. In this context, the necessity for considering the
institutional differences in the political process in analyzing the changes in
budget deficits and debt stock has arisen. The aim of this study is to reveal
the reasons for public borrowing within the framework of political economy
approaches.

Anahtar Kelimeler

Fiscal Policy, Government Debt, Political Economy

Kaynakça

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