Kamu Kesiminde Finansal İstikrarsızlık: Türkiye’ye İlişkin Bir Değerlendirme

Oğuz Arslan
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Oğuz Arslan: Department of Public Finance, Anadolu University, Eskişehir, Turkey

No 2, EY International Congress on Economics I (EYC2013), October 24-25, 2013, Ankara, Turkey from Ekonomik Yaklasim Association

Abstract: Bu çalışma Minsky’nin ‘Finansal İstikrarsızlık Hipotezi’ne dayalı olarak kamu kesiminde finansal istikrarsızlığın ölçülmesini ele almaktadır. Bu çerçevede, 2000-2011 yıllarını kapsayan dönemde Türk kamu kesiminde Minskiyen anlamda bir finansal istikrarsızlığın var olup olmadığı araştırılmaktadır. Bu amaçla hem dar anlamda hem de geniş anlamda kamu kesimi için iki ayrı ‘Finansal İstikrarsızlık Endeksi’ oluşturulmuştur. Her iki endeks de, ele alınan dönemde Türk kamu kesiminin sürekli olarak ‘spekülatif’ finansman durumunda kaldığını ve hatta 2000/2001 Ekonomik Krizi ve 2008-2009 Küresel Finansal Krizi yıllarında ‘Ponzi’ finansman durumuna çok yaklaştığını açık bir biçimde ortaya koymaktadır.

Keywords: Finansal İstikrarsızlık Hipotezi; Kamu Kesimi; Kamu Kesimi Ekonomisi (search for similar items in EconPapers)
JEL-codes: E12 H10 H60 (search for similar items in EconPapers)
Pages: 14 pages
Date: 2013
New Economics Papers: this item is included in nep-ara and nep-cwa
Note: [English Title] Financial Instability in Public Sector: An Evaluation for Turkey [English Abstract] This paper deals with the measurement of financial instability in public sector based on Minsky’s ‘Financial Instability Hypothesis’. In this context, it is explored that whether there was a financial instability or not in Turkish public sector in the period of 2000-2011. To this aim, two financial instability indices were developed for public sector in narrow and in broad senses. Both indices bring into sharp relief that Turkish public sector continuously stayed in ‘speculative’ financial position in this period, and insomuch that it came very close to ‘Ponzi’ financial position in the years of 2000/2001 Economic Crisis and 2008-2009 Global Financial Crisis. [English Keywords] Financial Instability Hypothesis, Public Sector, Economics of Public Sector
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