TÜRKİYE’DE ÜÇÜZ AÇIK İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ
THE RELATIONSHIP BETWEEN TRIPLE DEFICIT AND ECONOMIC GROWTH IN TURKEY

Summary/Abstract: In this paper, the relationship between triple deficit and economic growth was investigated by VAR analysis. VAR model using annual time series covering the 1975-2016 study period was established for Turkey. Before the VAR model was introduced, all variables in the model were tested with the unit root tests and it was observed that the nonstationary budget deficit and savings-investment deficit variables became stable after taking the differences. After this part of the paper, the appropriate delay level was determined for the model established in the VAR analysis and variance decomposition was performed by VAR analysis and accompanying effect-response analysis. As a result of the analysis, it is seen that budget deficits have a positive effect on economic growth in the short term, but it affects economic growth in long term negatively. The current account deficit negatively impacts economic growth in the short term but has a positive impact on economic growth in the long run and the savings-investment deficit has a negative effect on economic growth.

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