THE ROLE OF INSTITUTIONAL QUALITY ON PUBLIC DEBT BURDEN: PANEL DATA ANALYSIS FOR EMERGING MARKET ECONOMIES

Öz

The level of public debt is closely related to the institutional quality of countries, in addition to macroeconomic indicators. The impact of institutional quality on addressing the structural and chronic economic issues of emerging market economies is becoming increasingly prominent. Institutional quality can influence the quality of public services, the level of public debt, and the allocation of borrowed funds. In this study, the effect of institutional quality on public debt in 20 emerging market economies for the period 2002-2020 is analyzed by using panel data analysis methods. The study concludes that increasing government effectiveness, which is one of the indicators of institutional quality, is effective in reducing the public debt burden.

Anahtar Kelimeler

• Government Effectivenes
• Government Debt
• Emerging Markets
• Panel Data Analysis

KAMU BORÇ YÜKÜ ÜZERİNDE KURUMSAL KALİTENİN ROLÜ: YÜKSELEN PİYASA EKONOMİLERİ İÇİN PANEL VERİ ANALİZİ

Öz

Kamu borcunun seviyesi, makroekonomik göstergelerin yanı sıra ülkelerin kurumsal kalitesiyle yakından ilişkilidir. Yükselen piyasa ekonomilerinin yapısal ve kronik ekonomik sorunlarıyla başa çıkmada kurumsal kalitenin etkisi giderek daha belirgin hale gelmektedir. Kurumsal kalite, kamu hizmetlerinin kalitesini, kamu borcunun seviyesini ve borçlanılan fonların tahsisini etkileyebilmektedir. Bu çalışmada 20 yükselen piyasa ekonomisinde kurumsal kalitenin kamu borçları üzerindeki etkisi 2002-2020 dönemi için panel veri analizi yöntemleriyle analiz edilmiştir. Çalışmada, kurumsal kalite göstergelerinden biri olan hükümet etkinliğinin artırılmasının kamu borç yükünün azaltılmasında etkili olduğu sonucuna varılmıştır.

Anahtar Kelimeler

• Hükümetin Etkinliği
• Kamu Borçları
• Gelişmekte Olan Piyasalar
• Panel Veri Analizi

Kaynakça

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