Does Fiscal Policy Affect Financial Development? The Case of Comparative Country

Göksel Karaş; Fatma Köse İçigen

doi:10.17541/optimum.1656899

EN TR

Does Fiscal Policy Affect Financial Development? The Case of Comparative Country

Öz

This study examines the relationship between fiscal policy and financial development in developed and developing countries from 1990 to 2021. The objective is to investigate the impact of fiscal policy on financial development by employing panel data analysis. The empirical analysis focuses on G7 and D8 countries, using the Konya (2006) Panel Causality Test and Hatemi-J (2012) Panel Causality Test. The IMF Financial Development Index indicates financial development, while fiscal policy variables include tax revenue, public debt, and public expenditure. The findings show that when the asymmetric effect is not considered, there is a causal relationship between the variables in fewer countries. However, a causal relationship is found in more countries when the asymmetric effect is considered. The impact of changes in fiscal policy on financial development may not always be in the same direction or magnitude, as they can vary depending on the country and specific circumstances.

Anahtar Kelimeler

Financial Development, Fiscal Policy, G7 Countries, D8 Countries

Destekleyen Kurum

Kütahya Dumlupınar Üniversitesi Bilimsel Araştırma Projeleri Komisyonu

Proje Numarası

2023-33

Kaynakça

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Ayrıntılar

Birincil Dil

İngilizce

Konular

Maliye Politikası, Uluslararası Finans, Finans

Bölüm

Araştırma Makalesi

Yazarlar

Göksel Karaş ^*
0000-0003-4091-1258
Türkiye

Fatma Köse İçigen
0000-0002-5437-3844
Türkiye

Yayımlanma Tarihi

1 Temmuz 2025

Gönderilme Tarihi

13 Mart 2025

Kabul Tarihi

18 Mayıs 2025

Yayımlandığı Sayı

Yıl 2025 Cilt: 12 Sayı: 2

DOI

https://doi.org/10.17541/optimum.1656899

IZ

https://izlik.org/JA94DM58CS

APA

Karaş, G., & Köse İçigen, F. (2025). Does Fiscal Policy Affect Financial Development? The Case of Comparative Country. Optimum Ekonomi ve Yönetim Bilimleri Dergisi, 12(2), 363-380. https://doi.org/10.17541/optimum.1656899

AMA

1.Karaş G, Köse İçigen F. Does Fiscal Policy Affect Financial Development? The Case of Comparative Country. OEYBD. 2025;12(2):363-380. doi:10.17541/optimum.1656899

Chicago

Karaş, Göksel, ve Fatma Köse İçigen. 2025. “Does Fiscal Policy Affect Financial Development? The Case of Comparative Country”. Optimum Ekonomi ve Yönetim Bilimleri Dergisi 12 (2): 363-80. https://doi.org/10.17541/optimum.1656899.

EndNote

Karaş G, Köse İçigen F (01 Temmuz 2025) Does Fiscal Policy Affect Financial Development? The Case of Comparative Country. Optimum Ekonomi ve Yönetim Bilimleri Dergisi 12 2 363–380.

IEEE

[1]G. Karaş ve F. Köse İçigen, “Does Fiscal Policy Affect Financial Development? The Case of Comparative Country”, OEYBD, c. 12, sy 2, ss. 363–380, Tem. 2025, doi: 10.17541/optimum.1656899.

ISNAD

Karaş, Göksel - Köse İçigen, Fatma. “Does Fiscal Policy Affect Financial Development? The Case of Comparative Country”. Optimum Ekonomi ve Yönetim Bilimleri Dergisi 12/2 (01 Temmuz 2025): 363-380. https://doi.org/10.17541/optimum.1656899.

JAMA

1.Karaş G, Köse İçigen F. Does Fiscal Policy Affect Financial Development? The Case of Comparative Country. OEYBD. 2025;12:363–380.

MLA

Karaş, Göksel, ve Fatma Köse İçigen. “Does Fiscal Policy Affect Financial Development? The Case of Comparative Country”. Optimum Ekonomi ve Yönetim Bilimleri Dergisi, c. 12, sy 2, Temmuz 2025, ss. 363-80, doi:10.17541/optimum.1656899.

Vancouver

1.Göksel Karaş, Fatma Köse İçigen. Does Fiscal Policy Affect Financial Development? The Case of Comparative Country. OEYBD. 01 Temmuz 2025;12(2):363-80. doi:10.17541/optimum.1656899

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Does Fiscal Policy Affect Financial Development? The Case of Comparative Country

Does Fiscal Policy Affect Financial Development? The Case of Comparative Country

Öz

Anahtar Kelimeler

Maliye Politikası Finansal Gelişimi Etkiler mi? Karşılaştırmalı Ülke Örneği

Öz

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Birincil Dil

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Yazarlar

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