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AN ANALYSIS OF POLITICAL AND INSTITUTIONAL POWER DISPERSION: THE CASE OF TURKEY
Author(s) -
TUTAR IBRAHIM,
TANSEL AYSIT
Publication year - 2012
Publication title -
contemporary economic policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.454
H-Index - 49
eISSN - 1465-7287
pISSN - 1074-3529
DOI - 10.1111/j.1465-7287.2011.00273.x
Subject(s) - dispersion (optics) , economics , politics , unification , fiscal policy , macroeconomics , power (physics) , economic policy , public economics , international economics , monetary economics , political science , physics , quantum mechanics , law , computer science , optics , programming language
This study examines the effects of fragmented governments and fiscal authorities on budget deficits in Turkey along with political business cycle effects. For econometric analysis we will use annual data from the period 1960 to 2009. This article sheds light on various dispersion indices and their use in the field of political power and fiscal performance. The results show that the power dispersion indices of governments and fiscal institutions significantly explain the increases in the ratio of budget deficit to gross national product. The article draws attention to the unification and better coordination of fiscal authorities in Turkey. The analysis has important policy implications for Turkey and other developing countries from the viewpoint of fragmented political and administrative dispersion of power and poor budget performances. ( JEL P16, H72, C22, C43)