Durmaz, Atakan; Akkuş, Ömer

In this study, the effects of international sanctions imposed by the United States (US) and multinationalinstitutions (European Union (EU) and the United Nations (UN)) on the external debts of less developed or/anddeveloping countries are empirically assessed. Our sample includes 44 countries experienced internationalsanctions over the period 1976-2014. According to the results, the sanctions significantly increase the externaldebt of the target country. Moreover, if the targeted countries increase government expenditures against thesesanctions, it is seen that the tendency of these sanctions to increase external debt is lower in sanctioned periods.Adding to these, the effect of the type of regime in targeted countries on external debt varies according to thestate of government expenditures.

Durmaz, Atakan; Akkus, Omer

Bu çalışma zamanlararası bütçe kısıtı yaklaşımından yola çıkarak Hakkiove Rush’ın (1991) bütçe açığının sürdürülebilirliğinin nasılgerçekleşebileceğini ve Quintos’ın (1995) bütçe açığınınsürdürülebilmesinin güçlü ve zayıf koşulları dikkate alınarak 1930-2016döneminde Türkiye’deki bütçe açığının sürdürülebilirliğini incelemektedir.Çalışmada bütçe gelirleri ve harcamaları arasındaki eşbütünleşme ilişkisiJohansen eşbütünleşme yöntemi ve bu yönteme dayalı olarak Hatemi-J veIrandoust (2012) tarafından geliştirilen saklı eşbütünleşme yöntemiaracılığıyla incelenmiştir. Eşbütünleşme katsayısı FMOLS, DOLS, CCR iletahmin edilmektedir. Araştırma sonuçları bütçe gelirleri ve harcamalarıarasında bir eşbütünleşme ilişkisi olduğunu ve Türkiye’de bütçe açığınınzayıf formda da olsa sürdürülebilir olduğunu göstermektedir.

Akkus, Omer; Durmaz, Atakan

This study, starting from the point of intertemporal budget constraint approach, examines the sustainability of budget deficit in Turkey for 1930-2016 period by taking Quintos (1995)'s strength and weakness conditions for the sustainability of the budget deficit and Hakkio and Rush's (1991) approach to how to ensure the sustainability of the budget deficit. In this study, the cointegration relationship between the budget revenues and expenditures is tried to be revealed through the Johansen Cointegration method and the Hidden Cointegration Method developed by Hatemi-J and Irandoust (2012) based on the prior method. Cointegration coefficient is estimated by FMOLS, DOLS, CCR. Results indicate that there is a cointegration relationship between budget revenues and budget expenditures and the budget deficit is sustainable even in weak form in Turkey.

Okur, Fatih; Akkuş, Ömer; Durmaz, Atakan

This study investigates on which channels the monetary transmission mechanism works effectively. In this context, quarterly data for the period 2005-2017 is used for Turkey and the variables used to determine the efficiency of the monetary transmission mechanism are analyzed by the VAR method. The obtained results indicate that the loans and reserves have a more effective role on the inflation as a channel of the monetary transmission mechanism. According to the long run results, while the exchange rate and reserves channel have a negative effect on the real GDP, it is revealed that loans have a positive effect on the real GDP in the long run stabilization.