The Interaction Analysis Demographic Elements with Fiscal Dominance: BRICT Countries ExperienceJournal: Efil Ekonomi Araştırmaları Dergisi (Vol.3, No. 10)
Publication Date: 2020-09-23
Authors : Salih Barışık Ebru Karkacıer;
Page : 14-58
Keywords : Public Expenditure; Fiscal Dominance; Panel VAR Analysis; BRICT Countries.;
Geographic area, market size and with similar characteristics in terms of economic growth BRICT (Brazil, Russia, India, China, Turkey) in the country, foreign debt, growth rate, public expenditure on education, financial and panel data analysis of military spending and health spending dominance effect It was investigated. As a result of the analysis, the existence of a long-term relationship between current account deficit and independent variables used as a measure of financial dominance was accepted. While no direct causality can be found from the expenditures to the current account deficit, it is determined that the most important factor affecting the change in the current account deficit is military expenditures. Military spending is followed by external debt, growth, education spending and health spending, respectively. As a result of these results, it can be said that military spending and foreign debt financing take precedence over the expanding education and health expenditures in BRICT countries.
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