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Budget Deficit Sustainability: An Application to Turkey

Author

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  • Zuhal Ergen
  • Esin Güzhan

Abstract

In this study, sustainability of budget deficits in Turkey is examined empirically for the pe- riod from January 2006 to September 2020, using time series techniques based on monthly data, under the intertemporal budget constraint approach. In the analysis phase, the Johansen cointegration method was used for the long-term relationship of the series. Analysis results indicated that income and expenditure series are not cointegrated. It is concluded that budget policies for the period under consideration in Turkey are unsustainable; therefore, the applied fiscal policies should be reviewed.

Suggested Citation

  • Zuhal Ergen & Esin Güzhan, 2022. "Budget Deficit Sustainability: An Application to Turkey," Prague Economic Papers, Prague University of Economics and Business, vol. 2022(1), pages 3-24.
    • Handle: RePEc:prg:jnlpep:v:2022:y:2022:i:1:id:780:p:3-24
    DOI: 10.18267/j.pep.780
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    More about this item

    Keywords

    Budget deficit; sustainability; intertemporal budget constraint; Turkey;
    All these keywords.

    JEL classification:

    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General

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