Özet:

Achieving macroeconomic balance in terms of national economies and even making it sustainable are among the main economic targets. The concept of fiscal sustainability, which expresses the sustainability of budget revenues and budget expenditures, which are among the economic policy instruments, comes to the fore in this direction. In this study, whether the financial system is sustainable or not was analyzed by considering the model developed by Hakkio and Rush (1991) and Quintos (1995) using annual budget expenditures and budget revenues data for the period of 1980-2020 in the Turkish economy. First of all, ADF unit root test was used to test the unit root level of the variables. The cointegration relationship between the variables was examined by using the ARDL boundary test approach. In addition, FMOLS, DOLS and CCR methods, which are long-term coefficient estimators, were used. ARDL bounds test findings showed the existence of a cointegration relationship between these variables. The short-term ARDL bounds test findings revealed that the budget deficit is sustainable in a weak form. In the long run, ARDL, FMOLS, DOLS and CCR findings revealed that the budget deficit is sustainable in a strong form.

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