GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH IN CENTRAL AND EASTERN EUROPEAN ECONOMIES: A PANEL ARDL APPROACH

GORKEY, SELDA

GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH IN CENTRAL AND EASTERN EUROPEAN ECONOMIES: A PANEL ARDL APPROACH

SELDA GORKEY (Işık Üniversitesi, İktisadi, İdari ve Sosyal Bilimler Fakültesi, İktisat Bölümü, İstanbul, Türkiye)

Finans Politik ve Ekonomik Yorumlar Dergisi

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Yıl: 2023 Cilt: 0 Sayı: 663 Sayfa Aralığı: 55 - 78 Metin Dili: İngilizce İndeks Tarihi: 17-05-2023

GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH IN CENTRAL AND EASTERN EUROPEAN ECONOMIES: A PANEL ARDL APPROACH

Öz:

This study investigates the relationship between government expenditure and economic growth with a primary concern of focusing on the long-run effects. It uses the panel ARDL-PMG approach as an econometric methodology for 11 Central and Eastern Europe (CEE) economies from 1995 to 2019. The findings from the empirical analysis indicate a significant long-run relationship between the two mac-roeconomic variables; however, the relevant relationship is estimated negatively. The findings for the short-run effects for the whole panel and country-specific estimations also confirm that higher govern-ment expenditure results in a statistically significant decline in real GDP per capita. Thus, the findings of this study do not empirically validate the Keynesian theory for 11 CEE economies covered in the research over the 1995-2019 period.

Anahtar Kelime:

ORTA VE DOĞU AVRUPA EKONOMİLERİNDE KAMU HARCAMALARI VE İKTİSADİ BÜYÜME: PANEL ARDL YAKLAŞIMI

Öz:

Bu çalışma, kamu harcamaları ile iktisadi büyüme arasındaki ilişkiyi, uzun dönem analizini ön planda tutarak incelemektedir. Çalışmada ekonometrik yöntem olarak panel ARDL-PMG yaklaşımı kullanıl-makta olup Orta ve Doğu Avrupa (ODA) ekonomileri için 1995-2019 arası dönem araştırılmaktadır. Ampirik bulgulara göre iki makroekonomik değişken arasında uzun dönemli ve anlamlı bir ilişki mev-cut olmakla birlikte, bu ilişkinin negatif olduğu sonucuna ulaşılmıştır. Kısa döneme ilişkin hem tüm panel hem de ülke bazlı ulaşılan bulgular da kamu harcamalarında meydana gelen artışın kişi başına düşen reel GSYİH’de istatistiksel olarak anlamlı azalmaya neden olduğunu desteklemektedir. Böyle-likle bu çalışma ile 11 ODA ülkesinde, 1995-2019 yılları arası dönemde Keynesyen teorinin ampirik olarak geçerli olmadığı sonucuna ulaşılmıştır.

Anahtar Kelime:

Belge Türü: Makale Makale Türü: Araştırma Makalesi Erişim Türü: Erişime Açık

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APA	GORKEY S (2023). GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH IN CENTRAL AND EASTERN EUROPEAN ECONOMIES: A PANEL ARDL APPROACH. , 55 - 78.
Chicago	GORKEY SELDA GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH IN CENTRAL AND EASTERN EUROPEAN ECONOMIES: A PANEL ARDL APPROACH. (2023): 55 - 78.
MLA	GORKEY SELDA GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH IN CENTRAL AND EASTERN EUROPEAN ECONOMIES: A PANEL ARDL APPROACH. , 2023, ss.55 - 78.
AMA	GORKEY S GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH IN CENTRAL AND EASTERN EUROPEAN ECONOMIES: A PANEL ARDL APPROACH. . 2023; 55 - 78.
Vancouver	GORKEY S GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH IN CENTRAL AND EASTERN EUROPEAN ECONOMIES: A PANEL ARDL APPROACH. . 2023; 55 - 78.
IEEE	GORKEY S "GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH IN CENTRAL AND EASTERN EUROPEAN ECONOMIES: A PANEL ARDL APPROACH." , ss.55 - 78, 2023.
ISNAD	GORKEY, SELDA. "GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH IN CENTRAL AND EASTERN EUROPEAN ECONOMIES: A PANEL ARDL APPROACH". (2023), 55-78.

APA	GORKEY S (2023). GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH IN CENTRAL AND EASTERN EUROPEAN ECONOMIES: A PANEL ARDL APPROACH. Finans Politik ve Ekonomik Yorumlar Dergisi, 0(663), 55 - 78.
Chicago	GORKEY SELDA GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH IN CENTRAL AND EASTERN EUROPEAN ECONOMIES: A PANEL ARDL APPROACH. Finans Politik ve Ekonomik Yorumlar Dergisi 0, no.663 (2023): 55 - 78.
MLA	GORKEY SELDA GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH IN CENTRAL AND EASTERN EUROPEAN ECONOMIES: A PANEL ARDL APPROACH. Finans Politik ve Ekonomik Yorumlar Dergisi, vol.0, no.663, 2023, ss.55 - 78.
AMA	GORKEY S GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH IN CENTRAL AND EASTERN EUROPEAN ECONOMIES: A PANEL ARDL APPROACH. Finans Politik ve Ekonomik Yorumlar Dergisi. 2023; 0(663): 55 - 78.
Vancouver	GORKEY S GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH IN CENTRAL AND EASTERN EUROPEAN ECONOMIES: A PANEL ARDL APPROACH. Finans Politik ve Ekonomik Yorumlar Dergisi. 2023; 0(663): 55 - 78.
IEEE	GORKEY S "GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH IN CENTRAL AND EASTERN EUROPEAN ECONOMIES: A PANEL ARDL APPROACH." Finans Politik ve Ekonomik Yorumlar Dergisi, 0, ss.55 - 78, 2023.
ISNAD	GORKEY, SELDA. "GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH IN CENTRAL AND EASTERN EUROPEAN ECONOMIES: A PANEL ARDL APPROACH". Finans Politik ve Ekonomik Yorumlar Dergisi 663 (2023), 55-78.