Araştırma Makalesi
BibTex RIS Kaynak Göster

Sustainability Of Current Deficits: A Literature Rewiev

Yıl 2018, Cilt: 10 Sayı: 18, 55 - 80, 04.06.2018

Öz

It is also very important issue whether the current account
deficit is sustainable as much as how much it is. Along with many approaches to
qualifications for a sustainable current account deficit, there are some
debates about the definition and character of sustainability in these
approaches. While these discussions lead to the development of quite different
methods for measuring the sustainability of the current account deficit, there
is no general definition of sustainability for the current account deficit.
However, some indicators may be used to measure sustainability although they
may vary in different circumstances. Although these indicators do not allow for
a clear interpretation, they have made it possible to make comprehensive
assessments. The main aim of this study is to scan and compile the related
literature.

Kaynakça

  • Adedeji, O. S. (2001). The Size and Sustainability of Nigerian Current Account Defıcit. IMF Working Paper, 1(87), 1-32.
  • Akçay, C., ve Özler, Ş. (1998). Current Account Position of The Turkish Economy: Is There Any Cause for Concern?. Boğaziçi Journal Review of Social, Economic and Administrative Studies, 12(1), 39-53.
  • Altunöz U. (2014). Cari Açık Sorunun Temel Nedenleri ve Sürdürülebilirliği: Türkiye Örneği. İstanbul Gelişim Üniversitesi Sosyal Bilimler Dergisi, 1 (2), 115-132.
  • Apergis, N., Katrakilidis, K. P., ve Tabakis, N. M. (2000). Current Account Deficit Sustainability: The Case of Greece. Applied Economics Letters, 7, 599-603.
  • Ağaslan, E., ve Akçoraoğlu, A. (2007). Türkiye’de Cari İşlem Hesabının Boyutu ve Sürdürülebilirliği. 08/12/2015 tarihinde http://eisemp8.inonu.edu.tr/bildiri-pdf/agaslan-akcoraoglu.pdf adresinden alındı.
  • Aristovnik, A. (2006). Current Account Sustainability in Selected Transition Countries. (U.O. Michigan, Dü.) William Davidson Institute, Working Paper (844), 1-21.
  • Arize, A. C. (2002). Imports and Exports in 50 Countries: Tests of Cointegration and Structural Breaks. International Rewiew of Economics and Finance, 11, 101-115.
  • Babaoğlu, B. (2005). Türkiye'de Cari İşlemler Dengesi Sürdürülebilirliği. Uzmanlık Yeterlilik Tezi, T.C. Merkez Bankası, Ankara.
  • Baharumshah, A. Z., Lau, E., ve Fountas, S. (2003). On The Sustainability of Current Account Deficits: Evidence From Four ASEAN Countries. Journal of Asian Economics, 14(3), 465-487.
  • Bajo-Rubio, O. (2012). The Balance-Of-Payments Constraint on Economic Growth in a Long-Term Perspective: Spain, 1850-2000. Explorations in Economic History, 49(1), 105-117.
  • Barışık, S., ve Çetintaş, H. (2006). Türkiye’de Cari Açıkların Sürdürülebilirliği: 1987-2003 Yapısal Kırılma Modeli. Süleyman Demirel Üniversitesi İ.İ.B.F. Dergisi, 11(1), 1-16.
  • Bergsten, C. F. (05.01.2008). The Dolar And The US Economy. 10/02/2015 tarihinde Peterson Institute For International Economics: http://www.piie.com/publications/testimony/print.cfm?ResearchId=464&doc=pub. adresinden alındı.
  • Berke, B. (2009). Türkiye’de Cari Açığın Sürdürülebilirliği: Parçalı Eşbütünleşme Analizi. Akdeniz Üniversitesi İİBF Dergisi, 9(18), 117-145.
  • Brissimis, S. N., Hondroyiannis, G., Papazoglou, C., Tsaveas, N. T., ve Vasardani, M. A. (2010). Current Account Determinants and External Sustainability in Periods of Structural Change. Bank of Greece Working Paper (117), 1-38.
  • Calderon, C., Chong, A., ve Zanforlin, L. (2001). Are African Current Account Deficits Different? Stylized Facts, Transitory Shocks and Decomposition Analysis. IMF Working Paper, 1(4), 1-39.
  • Camarero, M., Carrion-i-Silvestre, J. L., ve Tamarit, C. (2009). An Assessment of The Sustainability of Current Account Imbalances in OECD Countries. Papeles De Trabajo Del Instituto De Estudios Fiscales-Serie Econom^a (16), 3-74.
  • Campa, J. M. ve Gavilan, A. (2011). Current Accounts in The Euro Area: An İntertemporal Approach. Journal of International Money and Finance, 30, 205-228.
  • Ceylan, R., ve Çeviş, İ. (2012). Enflasyon Hedeflemesi Rejimi Öncesi ve Sonrasında Türkiye’de Cari Açıkların Sürdürülebilirliği. E-Journal of New World Sciences Academy, 7(4), 259-276.
  • Chang, C.-K., ve Chang, T. (2012). Revisiting The Sustainability of Current Account Defıcit: Spsm Using The Panel KSS Test With A Fourier Function. Economics Bulletin, 32(1), 538-550.
  • Chen, S.-W. (2010). Testing For The Sustainability of The Current Account Deficit in Four Industrial Countries: A Revisitation. Economics Bulletin, 30(2), 1-21.
  • Chen, S.-W. (2011a). Current Account Deficits and Sustainability: Evidence From The OECD Countries. Economic Modelling, 28, 1455-1464.
  • Chen, S.-W. (2011b). Are Current Account Deficits Really Sustainable in The G-7 Countries?. Japan and The World Economy, 23, 190-201.
  • Chortareas, G. E., Kapetanios, G., ve Uçtum, M. (2004). An İnvestigation of Current Account Solvency in Latin America Using Non-Linear Nonstationary Tests. Studies Nonlinear Dynamics and Econometrics, 8(1), 1-19.
  • Christopoulos, D., ve Leon-Ledesma, M. A. (2010). Current Account Sustainability in The US: What Did We Really Know About İt?. Journal of International Money and Finance, 29, 442- 459.
  • Chu, H.-P., Chang, T., Chang, H.-L., Su, C.-W., ve Yuan, Y. (2007). Mean Reversion in The Current Account of Forty-Eight African Countries: Evidence From The Panel Suradf Test. Physica A(384), 485-492.
  • Clarida, R. H., Goretti, M., ve Taylor, M. P. (2006). Are There Threshold of Current Account Adjustment in The G7?. NBER Working Paper (12193), 1-59.
  • Doğan E. ve Bayraç H. N. (2014). Türkiye’de Cari Açık Sorunu Üzerine Mikro Temelli Bir Çalışma. Eskişehir Osmangazi Üniversitesi Sosyal Bilimler Dergisi, 15 (2), 97-124.
  • Dooley, M. P., Landau, D. F., ve Garber, P. M. (2004). The US Current Account Deficit and Economic Development: Collateral For A Total Return Swap. NBER Working Paper Series (10727), 1-11.
  • Dülger, F., ve Özdemir, Z. A. (2005). Current Account Sustainability in Seven Developed Countries. Journal of Economic and Social Research, 7(2), 47-80.
  • Edwards, S. (2001). Does The Current Account Matter?. NBER Working Paper (8275), 1-69.
  • Ekinci, R. ve Kahyaoğlu, H. (2015). The Sustainability of Current Account Deficit in Turkey: A Non-Linear Time Series Approach. Izmir Review of Social Sciences Vol:2 No:2, 27-40.
  • Fountas, S., ve Wu, J.-l. (1999). Are the U.S. Current Account Deficits Really Sustainable?. International Economic Journal, 13(3), 51-58.
  • Freund, C. (2005). Current Account Adjustments in İndustrialized Countries. Journal of International Money and Finance, 24(8), 1278-1298.
  • Göçer, İ., ve Mercan, M. (2011). Türkiye Ekonomisinde Cari Açığın Sürdürülebilirliği: Sınır Testi Yaklaşımı. Finans Politik ve Ekonomik Yorumlar, 48(562), 33-52.
  • Greenidge, K., Holder, C., ve Moore, A. (2011). Current Account Deficit Sustainability: The Case of Barbados. Applied Economics, 43, 973-984.
  • Gülcan, Y., ve Önel, G. (09.01.2008). The Sustainability of Turkish Currenct Account Deficits with Structural Breaks. 08/12/2015 tarihinde http://fbe.emu.edu.tr/journal/doc/11-12/09.pdf adresinden alındı.
  • Hakkio, C. S. ve Rush, M. (1991). Is The Budget Defıcıt Too Large?. Economic Inquiry, 29, 3, 429-445.
  • Holmes, M. J. (2006a). How Sustainable Are OECD Current Account Balances in The Long Run?. Manchester School, 74(5), 626-643.
  • Holmes, M. J. (2006b). Do Latin American Countries Have an Incentive to Default on Their External Debts?. Emerging Markets Finance and Trade, 42(1), 33-49.
  • Holmes, M. J., Panagiotidis, T., ve Sharma, A. (2011). The Sustainability of India’s Current Account. Applied Economics, 43, 219-229.
  • Hudson, S., ve Stennett, R. (2003). Current Account Sustainability in Jamaica. Bank of Jamaica, Working Paper, 2(11), 1-43.
  • Husted, S. (1992). The Emerging U.S. Current Account Deficit in The 1980s: A Cointegration Analysis. The Review of Economics ve Statics, 74(1), 159-166.
  • IMF (2002). Slovak Republic: Selected Issues and Statistic Appendix. Country Report, Washington DC, 2, 210.
  • İnsel, A., ve Kayıkçı, F. (2012). Evaluation of Sustainability of Current Account Deficits in Turkey. Modern Economy, 3, 43-50.
  • İsmail, H. B., ve Baharumshah, A. Z. (2008). Malaysia’s Current Account Deficits: An İntertemporal Optimization Perspective. Empirical Economics, 35(3), 569-590.
  • Kalyoncu, H. (2006). International Intertemporal Solvency in OECD Countries: Evidence From Panel Unit Root. Prague Economic Papers, 1, 44-49.
  • Kapetanios, G. ve Shin, Y. (2002). Unit Root Tests in Three-Regime SETAR Models. Working Papers 465, Queen Mary University of London, School of Economics and Finance.
  • Karunaratne, N. D. (2010). The Sustainability of Australia’s Current Account Deficits: A Reappraisal After The Global Financial Crisis. Journal of Policy Modeling, 32, 81-97.
  • Kim, B.-H., Min, H.-G., Hwang, Y.-S., ve McDonald, J. A. (2009). Are Asian Countries Current Accounts Sustainable? Deficit, Even When Associated With High İnvestment, Are Not Costless. Journal of Policy Modelling, 31, 163-179.
  • Lau, E., Baharumshah, A. Z., ve Haw, C. T. (2006). Current Account: Mean-Reverting or Random Walk Behavior?. Japan and The World Economy, 18, 90-107.
  • Mann, C. L. (2002). Perspectives on The U.S. Current Account Deficit and Sustainability. Journal of Economic Perspectives, 16(3), 131-152.
  • Matsubayashi, Y. (2005). Are US Current Account Deficits Unsustainable? Testing For The Private and Government Intertemporal Budget Constraints. Japan and The World Economy, 17, 223-237.
  • Milesi-Ferretti, G. M., ve Razin, A. (1996a). Current Account Sustainability. Princeton Studies in International Finance, 81, 1-78.
  • Milesi-Ferretti, G. M., ve Razin, A. (1996b). Sustainability of Persistent Current Account Deficits. NBER Working Paper (5467), 1-33.
  • Milesi-Ferretti, G. M., ve Razin, A. (1998). Sharp Reductions in Current Account Deficits: An Empirical Analysis. European Economic Review, 42, 897-908.
  • Murat, S., Hobikoğlu, E.H. ve Dalyancı, L. (2014). Structure and Sustainability of Current Account Deficit in Turkish Economy. 10th International Strategic Management Conference, Procedia-Social and Behavioral Sciences 150, 977-984.
  • Murty, K. S., Sailaja, K., ve Mulugeta, D. W. (2013). Macroeconomic Determinants of Current Account Deficit in Ethiopia. Excel International Journal of Multidisciplinary Management Studies, 3(1), 1-13.
  • Nag, B., ve Mukherjee, J. (2012). The Sustainability of Trade Deficits in The Presence of Endogenous Structural Breaks: Evidence From The Indian Economy.Journal of Asian Economics Article in Press, 23(5), 519-526.
  • Naqvi, K., ve Morimune, K. (2005). An Empirical Analysis of Sustainability of Trade Deficits. Interfaces for Advanced Economic Analysis, Kyoto University, Discussion Paper (72), 1-20.
  • Oğuş, A., ve Sohrabji, N. (2006). An Intertemporal Benchmark Model for Turkey’s Current Account. Working Paper in Economics, 6(1), 1-26.
  • Oğuş, A., ve Sohrabjı, N. (2008). On the Optimality and Sustainability of Turkey’s Current Account. Empirical Economics, 35, 543-568.
  • Önel, G., ve Utkulu, U. (2006). Modeling The Long-run Sustainability of Turkish External Debt With Structural Changes. Economic Modelling, 23, 669-682.
  • Özer, M., ve Coşkun, İ. O. (2011). Sustainability of Turkish Current Account Deficit in The Post-Crisis Period. Mibes Transactions, 5(2), 67-82.
  • Peker, O. (2009). Türkiye’deki Cari Açık Sürdürülebilir mi? Ekonometrik Bir Analiz. Kocaeli Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 17(1), 164-174.
  • Perera, N., ve Verma, R. (2008). An Empirical Analysis of Sustainability of Trade Deficit: Evidence From Sri Lanka. International Journal of Applied Econometrics and Quantivative Studies, 5(1), 79-92.
  • Pesaran, M. H., Shin, Y., ve Smith, R. P. (2001). Bounds Testing Approaches to the Analysis of Level Relationship. Journal of Applied Econometrics, 16(3), 289-326.
  • Polat, Ö. (2011). Sustainability of The Current Account Deficit in Turkey.African Journal of Business Management, 5(2), 577-581.
  • Quintos, C. E. (1995). Sustainability of The Deficit Process With Structural Shifts. Journal of Business and Economic Statistics, 13(4), 409-417.
  • Raybaudi, M., Sola, M., ve Spagnolo, F. (2004). Red Signals: Trade Deficits and The Current Account. Economics Letters, 84(2), 217-223.
  • Röhn, O. (2012). Current Account Benchmarks For Turkey.OECD Economics Department Working Papers (988), 1-29.
  • Takeuchi, F. (2010). US External Debt Sustainability Revisited: Bayesian Analysis of Extended Markov Switching Unit Root Test. Japan and The World Economy, 22, 98-106.
  • Terzi, N. ve Sarıdoğan, E. (2007). An Econometric Analysis of The Current Account Deficit in Turkish Economy. Marmara Üniversitesi İİBF Dergisi, 22(1), 123-142.
  • Theofilakou, N., ve Stournaras, Y. (2012). Current Account Adjustments in OECD CountriesRevisited: The Role of Fiscal Stance. Journal of Policy Modeling, 34(5), 719-734.
  • Togan, S., ve Ersel, H. (2005). Current Account Sustainability: The Case of Turkey. AB’ye Katılım Sürecinde Makroekonomik Politikalar Konferansı. Ankara.
  • Şubasat, T. (2010). Cari Açık Nedir? Doğurduğu Riskler Nelerdir?. Küresel Kriz Çerçevesinde Türkiye’nin Cari Açık Sorunsalı (Editör: Turan Şubasat, Hakan Yetkiner). Efil Yayınevi, 1. Basım, Ankara, 2-23.
  • Urosevic, B., Nedeljkovıc, M., ve Zıldzovı, E. (2012). Jackknife Model Averaging of The Current Account Determinants. Panoeconomicus, 2012(3), 267-281.
  • Uygur, E. (2004a). Türkiye’de Cari Açık Tartışması. (E. Uygur, ve İ. Civcir, Dü.) GAP Bölgesinde Dış Ticaret ve Tarım, 3-31. Uygur, E. (2004b). Cari Açık Tartışmaları. İktisat, İşletme ve Finans, 19(222), 5-20.
  • Ümit, A. Ö. (2011). Türkiye’de Cari İşlemler Açığının Sürdürülebilirliğinin Zaman Serileri Analizi ile Değerlendirilmesi: 1992-2010 Dönemi. Anadolu Üniversitesi Sosyal Bilimler Dergisi, 11(3), 135-148.
  • Wu, J.-L. (2000). Mean Reversion of The Current Account: Evidence From The Panel Unit Root Test. Economic Letters, 66, 215-222.
  • Wu, J.-L., Chen, S.-L., ve Lee, H.-Y. (2001). Are Current Account Deficits Sustainable? Evidence From Panel Cointegration. Economic Letters, 72, 219-224.
  • Wu, J.-L., Fountas, S., ve Chen, S.-L. (1996). Testing For The Sustainability of The Current Account Deficit in Two Industrial Countries. Economics Letters (52), 193-198.
  • Yamak, R., ve Korkmaz, A. (2007). Türk Cari İşlemler Açığı Sürdürülebilir mi? Ekonometrik Bir Yaklaşım. Bankacılar Dergisi (60), 17-32.
  • Yörükoğlu, M., ve Çufadar, A. (2008). Capital Flows to Turkey: Financial Implications and Policy Responses. BIS Working Paper (44), 467-484.
  • Yücel, F., ve Yanar, R. (2005). Türkiye’de Cari İşlemler Açıkları Sürdürülebilir mi? Zaman Serileri Perspektifinden Bir Bakış. Ç.Ü. Sosyal Bilimler Enstitüsü Dergisi, 14(2), 483-492.

Cari Açıkların Sürdürülebilirliği: Literatür Taraması

Yıl 2018, Cilt: 10 Sayı: 18, 55 - 80, 04.06.2018

Öz

Cari
işlemler hesabında oluşan açıkların boyutu kadar nitelik itibariyle
sürdürülebilir olup olmadığı da oldukça önemli bir konudur. Sürdürülebilir bir
cari açığın nitelikle­ri hakkında pek çok yaklaşım olmakla birlikte, bu
yaklaşımlarda sürdürülebilirliğin tanımı ve niteliği hakkında bazı tartışmalara
rastlanmaktadır. Bu tartışmalar, cari açığın sürdürülebilirliğini ölçmeye
yönelik oldukça farklı yöntemlerin geliştirilme­sine yol açsa da cari açık için
genel-geçer bir sürdürülebilirlik tanımlaması yapıla­mamıştır. Buna rağmen,
farklı koşullarda farklılık gösterebilse de bazı göstergelerin
sürdürülebilirlik ölçümünde kullanıldığı görülmektedir. Söz konusu göstergeler
net bir yorum yapılmasına müsaade etmese de genel kapsamlı değerlendirmelere
imkân sağlamıştır. Bu çalışmada, cari açıkların sürdürülebilirliği ile ilgili
literatürün taranıp derlenmesi amaçlanmıştır.

Kaynakça

  • Adedeji, O. S. (2001). The Size and Sustainability of Nigerian Current Account Defıcit. IMF Working Paper, 1(87), 1-32.
  • Akçay, C., ve Özler, Ş. (1998). Current Account Position of The Turkish Economy: Is There Any Cause for Concern?. Boğaziçi Journal Review of Social, Economic and Administrative Studies, 12(1), 39-53.
  • Altunöz U. (2014). Cari Açık Sorunun Temel Nedenleri ve Sürdürülebilirliği: Türkiye Örneği. İstanbul Gelişim Üniversitesi Sosyal Bilimler Dergisi, 1 (2), 115-132.
  • Apergis, N., Katrakilidis, K. P., ve Tabakis, N. M. (2000). Current Account Deficit Sustainability: The Case of Greece. Applied Economics Letters, 7, 599-603.
  • Ağaslan, E., ve Akçoraoğlu, A. (2007). Türkiye’de Cari İşlem Hesabının Boyutu ve Sürdürülebilirliği. 08/12/2015 tarihinde http://eisemp8.inonu.edu.tr/bildiri-pdf/agaslan-akcoraoglu.pdf adresinden alındı.
  • Aristovnik, A. (2006). Current Account Sustainability in Selected Transition Countries. (U.O. Michigan, Dü.) William Davidson Institute, Working Paper (844), 1-21.
  • Arize, A. C. (2002). Imports and Exports in 50 Countries: Tests of Cointegration and Structural Breaks. International Rewiew of Economics and Finance, 11, 101-115.
  • Babaoğlu, B. (2005). Türkiye'de Cari İşlemler Dengesi Sürdürülebilirliği. Uzmanlık Yeterlilik Tezi, T.C. Merkez Bankası, Ankara.
  • Baharumshah, A. Z., Lau, E., ve Fountas, S. (2003). On The Sustainability of Current Account Deficits: Evidence From Four ASEAN Countries. Journal of Asian Economics, 14(3), 465-487.
  • Bajo-Rubio, O. (2012). The Balance-Of-Payments Constraint on Economic Growth in a Long-Term Perspective: Spain, 1850-2000. Explorations in Economic History, 49(1), 105-117.
  • Barışık, S., ve Çetintaş, H. (2006). Türkiye’de Cari Açıkların Sürdürülebilirliği: 1987-2003 Yapısal Kırılma Modeli. Süleyman Demirel Üniversitesi İ.İ.B.F. Dergisi, 11(1), 1-16.
  • Bergsten, C. F. (05.01.2008). The Dolar And The US Economy. 10/02/2015 tarihinde Peterson Institute For International Economics: http://www.piie.com/publications/testimony/print.cfm?ResearchId=464&doc=pub. adresinden alındı.
  • Berke, B. (2009). Türkiye’de Cari Açığın Sürdürülebilirliği: Parçalı Eşbütünleşme Analizi. Akdeniz Üniversitesi İİBF Dergisi, 9(18), 117-145.
  • Brissimis, S. N., Hondroyiannis, G., Papazoglou, C., Tsaveas, N. T., ve Vasardani, M. A. (2010). Current Account Determinants and External Sustainability in Periods of Structural Change. Bank of Greece Working Paper (117), 1-38.
  • Calderon, C., Chong, A., ve Zanforlin, L. (2001). Are African Current Account Deficits Different? Stylized Facts, Transitory Shocks and Decomposition Analysis. IMF Working Paper, 1(4), 1-39.
  • Camarero, M., Carrion-i-Silvestre, J. L., ve Tamarit, C. (2009). An Assessment of The Sustainability of Current Account Imbalances in OECD Countries. Papeles De Trabajo Del Instituto De Estudios Fiscales-Serie Econom^a (16), 3-74.
  • Campa, J. M. ve Gavilan, A. (2011). Current Accounts in The Euro Area: An İntertemporal Approach. Journal of International Money and Finance, 30, 205-228.
  • Ceylan, R., ve Çeviş, İ. (2012). Enflasyon Hedeflemesi Rejimi Öncesi ve Sonrasında Türkiye’de Cari Açıkların Sürdürülebilirliği. E-Journal of New World Sciences Academy, 7(4), 259-276.
  • Chang, C.-K., ve Chang, T. (2012). Revisiting The Sustainability of Current Account Defıcit: Spsm Using The Panel KSS Test With A Fourier Function. Economics Bulletin, 32(1), 538-550.
  • Chen, S.-W. (2010). Testing For The Sustainability of The Current Account Deficit in Four Industrial Countries: A Revisitation. Economics Bulletin, 30(2), 1-21.
  • Chen, S.-W. (2011a). Current Account Deficits and Sustainability: Evidence From The OECD Countries. Economic Modelling, 28, 1455-1464.
  • Chen, S.-W. (2011b). Are Current Account Deficits Really Sustainable in The G-7 Countries?. Japan and The World Economy, 23, 190-201.
  • Chortareas, G. E., Kapetanios, G., ve Uçtum, M. (2004). An İnvestigation of Current Account Solvency in Latin America Using Non-Linear Nonstationary Tests. Studies Nonlinear Dynamics and Econometrics, 8(1), 1-19.
  • Christopoulos, D., ve Leon-Ledesma, M. A. (2010). Current Account Sustainability in The US: What Did We Really Know About İt?. Journal of International Money and Finance, 29, 442- 459.
  • Chu, H.-P., Chang, T., Chang, H.-L., Su, C.-W., ve Yuan, Y. (2007). Mean Reversion in The Current Account of Forty-Eight African Countries: Evidence From The Panel Suradf Test. Physica A(384), 485-492.
  • Clarida, R. H., Goretti, M., ve Taylor, M. P. (2006). Are There Threshold of Current Account Adjustment in The G7?. NBER Working Paper (12193), 1-59.
  • Doğan E. ve Bayraç H. N. (2014). Türkiye’de Cari Açık Sorunu Üzerine Mikro Temelli Bir Çalışma. Eskişehir Osmangazi Üniversitesi Sosyal Bilimler Dergisi, 15 (2), 97-124.
  • Dooley, M. P., Landau, D. F., ve Garber, P. M. (2004). The US Current Account Deficit and Economic Development: Collateral For A Total Return Swap. NBER Working Paper Series (10727), 1-11.
  • Dülger, F., ve Özdemir, Z. A. (2005). Current Account Sustainability in Seven Developed Countries. Journal of Economic and Social Research, 7(2), 47-80.
  • Edwards, S. (2001). Does The Current Account Matter?. NBER Working Paper (8275), 1-69.
  • Ekinci, R. ve Kahyaoğlu, H. (2015). The Sustainability of Current Account Deficit in Turkey: A Non-Linear Time Series Approach. Izmir Review of Social Sciences Vol:2 No:2, 27-40.
  • Fountas, S., ve Wu, J.-l. (1999). Are the U.S. Current Account Deficits Really Sustainable?. International Economic Journal, 13(3), 51-58.
  • Freund, C. (2005). Current Account Adjustments in İndustrialized Countries. Journal of International Money and Finance, 24(8), 1278-1298.
  • Göçer, İ., ve Mercan, M. (2011). Türkiye Ekonomisinde Cari Açığın Sürdürülebilirliği: Sınır Testi Yaklaşımı. Finans Politik ve Ekonomik Yorumlar, 48(562), 33-52.
  • Greenidge, K., Holder, C., ve Moore, A. (2011). Current Account Deficit Sustainability: The Case of Barbados. Applied Economics, 43, 973-984.
  • Gülcan, Y., ve Önel, G. (09.01.2008). The Sustainability of Turkish Currenct Account Deficits with Structural Breaks. 08/12/2015 tarihinde http://fbe.emu.edu.tr/journal/doc/11-12/09.pdf adresinden alındı.
  • Hakkio, C. S. ve Rush, M. (1991). Is The Budget Defıcıt Too Large?. Economic Inquiry, 29, 3, 429-445.
  • Holmes, M. J. (2006a). How Sustainable Are OECD Current Account Balances in The Long Run?. Manchester School, 74(5), 626-643.
  • Holmes, M. J. (2006b). Do Latin American Countries Have an Incentive to Default on Their External Debts?. Emerging Markets Finance and Trade, 42(1), 33-49.
  • Holmes, M. J., Panagiotidis, T., ve Sharma, A. (2011). The Sustainability of India’s Current Account. Applied Economics, 43, 219-229.
  • Hudson, S., ve Stennett, R. (2003). Current Account Sustainability in Jamaica. Bank of Jamaica, Working Paper, 2(11), 1-43.
  • Husted, S. (1992). The Emerging U.S. Current Account Deficit in The 1980s: A Cointegration Analysis. The Review of Economics ve Statics, 74(1), 159-166.
  • IMF (2002). Slovak Republic: Selected Issues and Statistic Appendix. Country Report, Washington DC, 2, 210.
  • İnsel, A., ve Kayıkçı, F. (2012). Evaluation of Sustainability of Current Account Deficits in Turkey. Modern Economy, 3, 43-50.
  • İsmail, H. B., ve Baharumshah, A. Z. (2008). Malaysia’s Current Account Deficits: An İntertemporal Optimization Perspective. Empirical Economics, 35(3), 569-590.
  • Kalyoncu, H. (2006). International Intertemporal Solvency in OECD Countries: Evidence From Panel Unit Root. Prague Economic Papers, 1, 44-49.
  • Kapetanios, G. ve Shin, Y. (2002). Unit Root Tests in Three-Regime SETAR Models. Working Papers 465, Queen Mary University of London, School of Economics and Finance.
  • Karunaratne, N. D. (2010). The Sustainability of Australia’s Current Account Deficits: A Reappraisal After The Global Financial Crisis. Journal of Policy Modeling, 32, 81-97.
  • Kim, B.-H., Min, H.-G., Hwang, Y.-S., ve McDonald, J. A. (2009). Are Asian Countries Current Accounts Sustainable? Deficit, Even When Associated With High İnvestment, Are Not Costless. Journal of Policy Modelling, 31, 163-179.
  • Lau, E., Baharumshah, A. Z., ve Haw, C. T. (2006). Current Account: Mean-Reverting or Random Walk Behavior?. Japan and The World Economy, 18, 90-107.
  • Mann, C. L. (2002). Perspectives on The U.S. Current Account Deficit and Sustainability. Journal of Economic Perspectives, 16(3), 131-152.
  • Matsubayashi, Y. (2005). Are US Current Account Deficits Unsustainable? Testing For The Private and Government Intertemporal Budget Constraints. Japan and The World Economy, 17, 223-237.
  • Milesi-Ferretti, G. M., ve Razin, A. (1996a). Current Account Sustainability. Princeton Studies in International Finance, 81, 1-78.
  • Milesi-Ferretti, G. M., ve Razin, A. (1996b). Sustainability of Persistent Current Account Deficits. NBER Working Paper (5467), 1-33.
  • Milesi-Ferretti, G. M., ve Razin, A. (1998). Sharp Reductions in Current Account Deficits: An Empirical Analysis. European Economic Review, 42, 897-908.
  • Murat, S., Hobikoğlu, E.H. ve Dalyancı, L. (2014). Structure and Sustainability of Current Account Deficit in Turkish Economy. 10th International Strategic Management Conference, Procedia-Social and Behavioral Sciences 150, 977-984.
  • Murty, K. S., Sailaja, K., ve Mulugeta, D. W. (2013). Macroeconomic Determinants of Current Account Deficit in Ethiopia. Excel International Journal of Multidisciplinary Management Studies, 3(1), 1-13.
  • Nag, B., ve Mukherjee, J. (2012). The Sustainability of Trade Deficits in The Presence of Endogenous Structural Breaks: Evidence From The Indian Economy.Journal of Asian Economics Article in Press, 23(5), 519-526.
  • Naqvi, K., ve Morimune, K. (2005). An Empirical Analysis of Sustainability of Trade Deficits. Interfaces for Advanced Economic Analysis, Kyoto University, Discussion Paper (72), 1-20.
  • Oğuş, A., ve Sohrabji, N. (2006). An Intertemporal Benchmark Model for Turkey’s Current Account. Working Paper in Economics, 6(1), 1-26.
  • Oğuş, A., ve Sohrabjı, N. (2008). On the Optimality and Sustainability of Turkey’s Current Account. Empirical Economics, 35, 543-568.
  • Önel, G., ve Utkulu, U. (2006). Modeling The Long-run Sustainability of Turkish External Debt With Structural Changes. Economic Modelling, 23, 669-682.
  • Özer, M., ve Coşkun, İ. O. (2011). Sustainability of Turkish Current Account Deficit in The Post-Crisis Period. Mibes Transactions, 5(2), 67-82.
  • Peker, O. (2009). Türkiye’deki Cari Açık Sürdürülebilir mi? Ekonometrik Bir Analiz. Kocaeli Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 17(1), 164-174.
  • Perera, N., ve Verma, R. (2008). An Empirical Analysis of Sustainability of Trade Deficit: Evidence From Sri Lanka. International Journal of Applied Econometrics and Quantivative Studies, 5(1), 79-92.
  • Pesaran, M. H., Shin, Y., ve Smith, R. P. (2001). Bounds Testing Approaches to the Analysis of Level Relationship. Journal of Applied Econometrics, 16(3), 289-326.
  • Polat, Ö. (2011). Sustainability of The Current Account Deficit in Turkey.African Journal of Business Management, 5(2), 577-581.
  • Quintos, C. E. (1995). Sustainability of The Deficit Process With Structural Shifts. Journal of Business and Economic Statistics, 13(4), 409-417.
  • Raybaudi, M., Sola, M., ve Spagnolo, F. (2004). Red Signals: Trade Deficits and The Current Account. Economics Letters, 84(2), 217-223.
  • Röhn, O. (2012). Current Account Benchmarks For Turkey.OECD Economics Department Working Papers (988), 1-29.
  • Takeuchi, F. (2010). US External Debt Sustainability Revisited: Bayesian Analysis of Extended Markov Switching Unit Root Test. Japan and The World Economy, 22, 98-106.
  • Terzi, N. ve Sarıdoğan, E. (2007). An Econometric Analysis of The Current Account Deficit in Turkish Economy. Marmara Üniversitesi İİBF Dergisi, 22(1), 123-142.
  • Theofilakou, N., ve Stournaras, Y. (2012). Current Account Adjustments in OECD CountriesRevisited: The Role of Fiscal Stance. Journal of Policy Modeling, 34(5), 719-734.
  • Togan, S., ve Ersel, H. (2005). Current Account Sustainability: The Case of Turkey. AB’ye Katılım Sürecinde Makroekonomik Politikalar Konferansı. Ankara.
  • Şubasat, T. (2010). Cari Açık Nedir? Doğurduğu Riskler Nelerdir?. Küresel Kriz Çerçevesinde Türkiye’nin Cari Açık Sorunsalı (Editör: Turan Şubasat, Hakan Yetkiner). Efil Yayınevi, 1. Basım, Ankara, 2-23.
  • Urosevic, B., Nedeljkovıc, M., ve Zıldzovı, E. (2012). Jackknife Model Averaging of The Current Account Determinants. Panoeconomicus, 2012(3), 267-281.
  • Uygur, E. (2004a). Türkiye’de Cari Açık Tartışması. (E. Uygur, ve İ. Civcir, Dü.) GAP Bölgesinde Dış Ticaret ve Tarım, 3-31. Uygur, E. (2004b). Cari Açık Tartışmaları. İktisat, İşletme ve Finans, 19(222), 5-20.
  • Ümit, A. Ö. (2011). Türkiye’de Cari İşlemler Açığının Sürdürülebilirliğinin Zaman Serileri Analizi ile Değerlendirilmesi: 1992-2010 Dönemi. Anadolu Üniversitesi Sosyal Bilimler Dergisi, 11(3), 135-148.
  • Wu, J.-L. (2000). Mean Reversion of The Current Account: Evidence From The Panel Unit Root Test. Economic Letters, 66, 215-222.
  • Wu, J.-L., Chen, S.-L., ve Lee, H.-Y. (2001). Are Current Account Deficits Sustainable? Evidence From Panel Cointegration. Economic Letters, 72, 219-224.
  • Wu, J.-L., Fountas, S., ve Chen, S.-L. (1996). Testing For The Sustainability of The Current Account Deficit in Two Industrial Countries. Economics Letters (52), 193-198.
  • Yamak, R., ve Korkmaz, A. (2007). Türk Cari İşlemler Açığı Sürdürülebilir mi? Ekonometrik Bir Yaklaşım. Bankacılar Dergisi (60), 17-32.
  • Yörükoğlu, M., ve Çufadar, A. (2008). Capital Flows to Turkey: Financial Implications and Policy Responses. BIS Working Paper (44), 467-484.
  • Yücel, F., ve Yanar, R. (2005). Türkiye’de Cari İşlemler Açıkları Sürdürülebilir mi? Zaman Serileri Perspektifinden Bir Bakış. Ç.Ü. Sosyal Bilimler Enstitüsü Dergisi, 14(2), 483-492.
Toplam 84 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Makaleler
Yazarlar

Dilara Ayla 0000-0002-0206-250X

Yakup Küçükkale 0000-0002-9724-3388

Yayımlanma Tarihi 4 Haziran 2018
Gönderilme Tarihi 30 Haziran 2017
Yayımlandığı Sayı Yıl 2018 Cilt: 10 Sayı: 18

Kaynak Göster

APA Ayla, D., & Küçükkale, Y. (2018). Cari Açıkların Sürdürülebilirliği: Literatür Taraması. Karadeniz Sosyal Bilimler Dergisi, 10(18), 55-80.