KAMU HARCAMALARI VE MAKROEKONOMİK GÖSTERGELER ARASINDAKİ NEDENSELLİK İLİŞKİSİ: BRICST ÜLKELERİ
CAUSALİTY RELATİONSHİP BETWEEN PUBLİC EXPENDİTURES AND MACROECONOMİC İNDİCATORS: BRICS-T COUNTRİES

Summary/Abstract: Macroeconomic Dynamics are based on the evaluation of the macroeconomic performance of countries. And it is possible that these variables interacts with each other. In this research, the causality between public expenditure and growth, inflation, unemployment, total savings has been examined. These relationship is tested with Dumitrescu Hurlin Panel Causality Test. And BRICS-T countries has been selected for this research. As a result of empirical study there is a unidirectional causality relationship at the 5% significance level and a bidirectional causality relationship at the 10% significance level between growth and public expenditures has been determined between the years of 1995-2019. A unidirectional causality has been founded between unemploymend und public expenditures. There is no statistically significant causality relationship observed between inflation and public expenditures. A bidirectional causality relationship is observed between total savings and public expenditures. There are a limited number of studies examining the causality relationship between public expenditures and variables such as economic growth, inflation, unemployment and total savings in a single study. For this reason, it is expected that the study will contribute to the literature in terms of its relative comprehensiveness and originality.

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