Creative accounting practices and measurement methods: Evidence from Turkey
A fiscal rule imposed when the budget is not transparent yields more creative accounting to circumvent it and less fiscal adjustment, generating hidden deficits/debts in public sector. This study focuses on creative accounting practices of governments and adds to the literature by measuring hidden debts of the Turkish public sector ranging from the period 1989 to 2010. The author shows that the IMF has been misinformed, indeed has been misled by the Turkish authorities regarding the magnitude of public debt stock in the late 90's. The lacking information deteriorated the IMF's forecasts, which might be one of the main reasons for the failure of the IMF's planned fiscal consolidation at the outset of 2000 - 2001 crisis. The author's methodology can easily be adapted to any other country in order to identify the different margins on which governments can cheat and manipulate the Government Finance Statistics.
Volume (Year): 8 (2014)
Issue (Month): ()
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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.:
- Ayse Y. Evrensel, 2004. "IMF Programs and Financial Liberalization in Turkey," Emerging Markets Finance and Trade, M.E. Sharpe, Inc., vol. 40(4), pages 5-19, July.
- Barro, Robert J. & Lee, Jong-Wha, 2005.
"IMF programs: Who is chosen and what are the effects?,"
Journal of Monetary Economics,
Elsevier, vol. 52(7), pages 1245-1269, October.
- Robert J. Barro & Jong-Wha Lee, 2002. "IMF Programs: Who is Chosen and What Are the Effects?," NBER Working Papers 8951, National Bureau of Economic Research, Inc.
- Robert J Barro & Jong-Wha Lee, 2003. "IMF Programs: Who Is Chosen and What Are the Effects?," Departmental Working Papers 2003-09, The Australian National University, Arndt-Corden Department of Economics.
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