Growth-Maximizing Public Debt in Turkey: an Empirical Investigation

• Autorzy: Gökay Canberk Buluş
• Języki publikacji: EN

Abstrakty

EN

The aim of the paper is to empirically estimate the growth-maximizing debtto-GDP ratio in the case of Turkey. To calculate the growth-maximizing debt-to-GDP ratio FMOLS, DOLS, and CCR estimators are used for the period from 1960-2013. According to the empirical findings the growth-maximizing debt-to-GDP ratio varies between 34.3% and 38.7%. Based on a comparison of these ratios to current data (29.1% for 2018), Turkey has the capacity for additional borrowing to achieve a growthmaximizing debt-to-GDP ratio. If this additional borrowing capacity is used for public investment with a return greater than the interest cost of the additional debt economic growth will be maximized and public debt sustainability supported. (original abstract)

Słowa kluczowe

EN

Debt; Public debt; Empirical researches; Economic growth; Economic growth of the region; Economics

PL

Dług; Dług publiczny; Badania empiryczne; Wzrost gospodarczy; Wzrost gospodarczy regionu; Ekonomia

• Czasopismo: Economics and Business Review
• Rocznik: 2020
• Tom: 6 (20)
• Numer: nr 3
• Strony: 68--87

Twórcy

autor

Gökay Canberk Buluş

• Aksaray University

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Identyfikatory

DOI

10.18559/ebr.2020.3.4