How Fiscal Mismanagement May Impede Trade Reform: Lessons From An Intertemporal, Multi-Sector General Equilibrium Model For Turkey
We utilize a multi-sector general equilibrium model based on intertemporally optimizing agents to study issues of trade liberalization and fiscal adjustments in the context of the Turkish economy. A key feature of the model is its explicit recognition of the distortionary consequences of excessive borrowing requirements of the public sector through increased domestic interest costs. The model results suggest that the postponement of adjustment to growing public debt and fiscal imbalances could be detrimental; and that in the absence of coordinated fiscal reforms, the welfare gains expected from trade liberalization may significantly be negated.
(This abstract was borrowed from another version of this item.)
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 37 (1999)
Issue (Month): 1 (03)
|Contact details of provider:|| Postal: 3-2-2 Wakaba, Mihama-ku, Chiba-shi, Chiba 261-8545|
Web page: http://www.blackwellpublishing.com/journal.asp?ref=0012-1533
More information through EDIRC
|Order Information:||Web: http://www.blackwellpublishing.com/subs.asp?ref=0012-1533|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Tanzi, Vito & Blejer, Mario I., 1982. "Inflation, interest rate policy, and currency substitutions in developing economies: A discussion of some major issues," World Development, Elsevier, vol. 10(9), pages 781-789, September.
- Lawrence H. Goulder & Lawrence H. Summers, 1987.
"Tax Policy, Asset Prices, and Growth: A General Equilibrium Analysis,"
NBER Working Papers
2128, National Bureau of Economic Research, Inc.
- Goulder, Lawrence H. & Summers, Lawrence H., 1989. "Tax policy, asset prices, and growth : A general equilibrium analysis," Journal of Public Economics, Elsevier, vol. 38(3), pages 265-296, April.
- Bernheim, B Douglas & Bagwell, Kyle, 1988.
"Is Everything Neutral?,"
Journal of Political Economy,
University of Chicago Press, vol. 96(2), pages 308-38, April.
- Mercenier, Jean & Yeldan, Erinc, 1997.
"On Turkey's trade policy: Is a customs union with Europe enough?,"
European Economic Review,
Elsevier, vol. 41(3-5), pages 871-880, April.
- J. Mercenier & Erin Yeldan, 1996. "On Turkey's Trade Policy : Is A Customs Union with Europe Enough?," Working Papers 9604, Department of Economics, Bilkent University.
- Robert J. Barro, 1988.
"The Ricardian Approach to Budget Deficits,"
728, Queen's University, Department of Economics.
- Bacha, Edmar L., 1990. "A three-gap model of foreign transfers and the GDP growth rate in developing countries," Journal of Development Economics, Elsevier, vol. 32(2), pages 279-296, April.
- Maurice Obstfeld & Kenneth S. Rogoff, 1996. "Foundations of International Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262150476, December.
- Mercenier, J. & Da Conceicao Sampaio de Souza, M., 1991.
"Structural Adjustment and Growth in a Highy Indebted Market Economy: Brazil,"
Cahiers de recherche
9103, Universite de Montreal, Departement de sciences economiques.
- Mercenier, J. & Da Conceicao Sampaio De Souza, M., 1991. "Structural Adjustment And Growth In A Highy Indebted Market Economy: Brazil," Cahiers de recherche 9103, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- Gramlich, Edward M, 1989. "Budget Deficits and National Saving: Are Politicians Exogenous?," Journal of Economic Perspectives, American Economic Association, vol. 3(2), pages 23-35, Spring.
- Boratav, Korkut & Turel, Oktar & Yeldan, Erinc, 1996. "Dilemmas of structural adjustment and environmental policies under instability: Post-1980 Turkey," World Development, Elsevier, vol. 24(2), pages 373-393, February.
- Barro, Robert J, 1979.
"On the Determination of the Public Debt,"
Journal of Political Economy,
University of Chicago Press, vol. 87(5), pages 940-71, October.
- Glenn W. Harrison & Thomas F. Rutherford & David G. Tarr, 2014.
"Economic implications for Turkey of a Customs Union with the European Union,"
World Scientific Book Chapters,
in: APPLIED TRADE POLICY MODELING IN 16 COUNTRIES Insights and Impacts from World Bank CGE Based Projects, chapter 16, pages 395-404
World Scientific Publishing Co. Pte. Ltd..
- Harrison, Glenn W. & Rutherford, Thomas F. & Tarr, David G., 1997. "Economic implications for Turkey of a Customs Union with the European Union," European Economic Review, Elsevier, vol. 41(3-5), pages 861-870, April.
- Harrison, Glenn W. & Rutherford, Thomas F. & Tarr, David G., 1996. "Economic implications for Turkey of a customs union with the European Union," Policy Research Working Paper Series 1599, The World Bank.
- Girton, Lance & Roper, Don E, 1981. "Theory and Implications of Currency Substitution," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 13(1), pages 12-30, February.
- Barro, Robert J., 1974.
"Are Government Bonds Net Wealth?,"
3451399, Harvard University Department of Economics.
- Diao, Xinshen & Somwaru, Agapi, 2000. "An Inquiry on General Equilibrium Effects of MERCOSUR--An Intertemporal World Model," Journal of Policy Modeling, Elsevier, vol. 22(5), pages 557-588, September.
- Bernheim, B Douglas, 1989. "A Neoclassical Perspective on Budget Deficits," Journal of Economic Perspectives, American Economic Association, vol. 3(2), pages 55-72, Spring.
- Faruk Selcuk, 1996. "Seignorage and Dollarization in a High Inflation Economy : Evidence from Turkey," Working Papers 9607, Department of Economics, Bilkent University.
- McKinnon, Ronald I., 1982. "The order of economic liberalization: Lessons from Chile and Argentina," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 17(1), pages 159-186, January.
- Go, Delfin S., 1994. "External shocks, adjustment policies and investment in a developing economy: Illustrations from a forward-looking CGE model of the Philippines," Journal of Development Economics, Elsevier, vol. 44(2), pages 229-261, August.
- Yeldan, A. Erinc, 1997. "Financial liberalization and fiscal repression in Turkey: Policy analysis in a CGE model with financial markets," Journal of Policy Modeling, Elsevier, vol. 19(1), pages 79-117, February.
- Eisner, Robert, 1989. "Budget Deficits: Rhetoric and Reality," Journal of Economic Perspectives, American Economic Association, vol. 3(2), pages 73-93, Spring.
- Diaz-Alejandro, Carlos, 1985. "Good-bye financial repression, hello financial crash," Journal of Development Economics, Elsevier, vol. 19(1-2), pages 1-24.
- Miles, Marc A, 1978. "Currency Substitution, Flexible Exchange Rates, and Monetary Independence," American Economic Review, American Economic Association, vol. 68(3), pages 428-36, June.
- A. Erinc Yeldan, 1998. "On Structural Sources of the 1994 Turkish Crisis: a CGE modelling analysis," International Review of Applied Economics, Taylor & Francis Journals, vol. 12(3), pages 397-414.
When requesting a correction, please mention this item's handle: RePEc:bla:deveco:v:37:y:1999:i:1:p:59-88. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.