IDEAS home Printed from https://ideas.repec.org/a/ibl/journl/v1y2006i1p15-21.html
   My bibliography  Save this article

Macroeconomic Policy: Going back to Origins?

Author

Listed:
  • Tatiana Papiashvili

    (International Black Sea University)

  • Ä°lyas ÇiloÄŸlu

    (International Black Sea University)

  • Faruk Gürsoy

    (International Black Sea University)

Abstract

Decline in public interest to "pure" economic theory is disturbing fact. This paper considers the main macroeconomic hypothesis through their implementation in practice - macroeconomic policies in the USA, in post-soviet countries (Russia and Georgia) and Turkey as well. Stabilization policy of these countries experiences that governments combine keynesian discretionary policy and classical rules. The so-called economic stabilization programs for Russia, Georgia and Turkey sponsored by the IMF have led to absolutely different and not always positive results. In particular, Russia overcame recession and financial crises of 1998 without IMF loan. Georgia now is looking for the new program. The programs were faulted because they did not take into consideration all peculates of post-communist economies. Most successful this program was in Turkey that has achieved macroeconomic stability and high rate of growth.

Suggested Citation

  • Tatiana Papiashvili & Ä°lyas ÇiloÄŸlu & Faruk Gürsoy, 2006. "Macroeconomic Policy: Going back to Origins?," IBSU Scientific Journal, International Black Sea University, vol. 1(1), pages 15-21.
    • Handle: RePEc:ibl:journl:v:1:y:2006:i:1:p:15-21
    as

    Download full text from publisher

    File URL: https://journal.ibsu.edu.ge/index.php/ibsusj/article/download/2/2
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ayse Y. Evrensel, 2004. "IMF Programs and Financial Liberalization in Turkey," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 40(4), pages 5-19, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ozkaya, Ata, 2014. "Creative accounting practices and measurement methods: Evidence from Turkey," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 8, pages 1-27.
    2. Ozkaya, Ata, 2013. "The Domestic Debt Intolerance and Bad Equilibrium: An Empirical Default Model," GIAM Working Papers 13-1, Galatasaray University Economic Research Center.
    3. Fatih KARANFIL & Ata OZKAYA, 2013. "Indirect Taxes, Social Expenditures and Poverty:What Linkage?," Ege Academic Review, Ege University Faculty of Economics and Administrative Sciences, vol. 13(3), pages 337-350.

    More about this item

    Keywords

    Macroeconomic Policy; IMF Policy; Georgia; Turkey; Russia;
    All these keywords.

    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ibl:journl:v:1:y:2006:i:1:p:15-21. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Salavat Sayfullin (email available below). General contact details of provider: https://edirc.repec.org/data/feibsge.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.