Özet:

Budget deficits have become the focus of economists, especially with the Keynesian approach. Issues such as the positive and / or negative effects of budget deficits on macroeconomic variables, how budget deficits should be financed and the economic effects of these financing methods have begun to be discussed more and more. The aim of this study is to empirically test the effects of budget deficits, current account deficit, economic growth and inflation variables in Turkey. In this study, using the annual data for 1980-2015 period, the effects of budget deficits in Turkey on current account deficit, economic growth and inflation variables were examined with VAR analysis. After the VAR analysis, the Impact-Response functions and the Variance Decomposition results were obtained. In according to findings in the event of a shock the budget deficit has a significant share in the changes that are occuring on the current account deficit, economic growth and inflation. The budget deficit variable affects current account deficit variable by about 10% and economic growth variable by about 13% in future periods. The budget deficit variable affects the inflation variable by approximately 3% in the first period and approximately 7% in the latter periods.

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