Effects of Fiscal Rules and Political Framework: Evidence from COVID-19 Crisis

Basit Öğe Kaydı
dc.contributor.authorKilic, Erdem
dc.contributor.authorSönmezer, Sıtkı
dc.contributor.authorÖzaydın, Orhan
dc.date.accessioned2024-10-12T19:51:04Z
dc.date.available2024-10-12T19:51:04Z
dc.date.issued2022
dc.departmentİstanbul Ticaret Üniversitesien_US
dc.description.abstractThe COVID-19-Crisis impacted economic growth globally, opening up the need for public spending. These conditions put national fiscal authorities under pressure, challenging them primarily to remedy the economic downturn, and secondly to balance fiscal resources. We analyze whether alternative institutional frameworks, fiscal rules and political regimes across numerous countries can explain different economic outcomes following the COVID-19-Crisis. The empirical results show that growth in GDP affects gross debt negatively, government revenue positively, and national savings positively for all subsets, except for the federal subset. The effect on government revenue for fiscal subset is higher than for no fiscal rule. In almost all the subgroup models, it can be observed that the COVID-19 period has a positive effect on gross government debt and a negative on government revenue, except for federal countries and countries with a fiscal rule and a majority government. For all subsets the effect of the COVID-19 variable is not significant in the national savings regression models. For the countries in the federal subset the explanatory variables are unable to reduce the government debt. Conclusively, we could propose adaptive fiscal rules, which motivate fiscal authorities to maintain fiscal balance in long debt and in the annual budget.en_US
dc.identifier.doi10.30784/epfad.1206600
dc.identifier.endpage888en_US
dc.identifier.issn2587-151X
dc.identifier.issue4en_US
dc.identifier.startpage869en_US
dc.identifier.trdizinid1154691en_US
dc.identifier.urihttps://doi.org/10.30784/epfad.1206600
dc.identifier.urihttps://search.trdizin.gov.tr/tr/yayin/detay/1154691
dc.identifier.urihttps://hdl.handle.net/11467/8948
dc.identifier.volume7en_US
dc.indekslendigikaynakTR-Dizinen_US
dc.language.isoenen_US
dc.relation.ispartofEkonomi, Politika & Finans Araştırmaları Dergisien_US
dc.relation.publicationcategoryMakale - Ulusal Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.snmzTR-Dizin_20241012en_US
dc.subjectFiscal Rulesen_US
dc.subjectFiscal Policyen_US
dc.subjectCOVID-19en_US
dc.titleEffects of Fiscal Rules and Political Framework: Evidence from COVID-19 Crisisen_US
dc.typeArticleen_US

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