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Ekonomik ve Parasal Birlik’te Büyük Ülkeler Neden Mali Kurallara Uymamaktadır?

Year 2018, Issue: 29, 727 - 752, 31.08.2018
https://doi.org/10.14520/adyusbd.445760

Abstract

Ekonomik
ve Parasal Birlik (EMU)’te üye ülkelerin maliye politikalarının
uyumlaştırılması amacıyla Maastricht kriterleri ve ardından İstikrar ve Büyüme
Paktı (SGP) ile birtakım kriterler getirilmiştir. Üye ülkelerden büyük olanlar
mali kuralları (kriterleri) EMU’nin kuruluşundan önce ve sonra birçok kez ihlal
etmişlerdir. Kurallara uymakta zorluk çeken büyük ülkeler SGP’de revizyona
gidilmesini istemiş ve SGP kuralları bir miktar gevşetilmiştir. Bu gelişmelerin
sonucu olarak büyük üye ülkelerin mali kurallara uyumda zorlanması ile ilgili
literatürde birtakım nedenler tartışılmıştır. Bu nedenler, politik, ekonomik ve
kurumsal faktörlerden oluşmaktadır. Küçük ülkelerin Maastricht ve SGP ile gelen
mali kurallara uyum göstermesi ve büyük ülkelerin bu kuralları sürekli ihlal
etmesinin altında yatan temel nedenleri araştıran bu çalışmada Türkiye adına birtakım çıkarımlar yapılmıştır.

References

  • Alouini, O. (2009). “Country Size, Economic Performance and the Political Economy of the Euro Zone : An Empirical Study of the Size Divide”. 19.07.2018 tarihinde https://core.ac.uk/download/pdf/6617895.pdf adresinden erişilmiştir.
  • Andrle, M., Bluedorn, J., Eyraud, L., Kinda, T., Koeva-Brooks, P., Schwartz, G. ve Weber, A. (2015). “Reforming Fiscal Governance in the European Union”. IMF Staff Discussion Notes, No. SDN/15/09.
  • Annett, A. (2006). “Enforcement and the Stability and Growth Pact: How Fiscal Policy Did and Did Not Change Under Europe’s Fiscal Framework”. IMF Working Paper, No. WP/06/116.
  • Avrupa Komisyonu (2018). “AB Genişleme Politikasına İlişkin 2018 Bilgilendirmesi”. 19.07.2018 tarihinde https://www.ab.gov.tr/siteimages/pub/komisyon_ulke_raporlari/2018_turkiye_raporu_tr.pdf adresinden erişilmiştir.
  • Baerg, N. R. ve Hallerberg, M. (2016). “Explaining Instability in the Stability and Growth Pact: The Contribution of Member State Power and Euroskepticism to the Euro Crisis”. Comparative Political Studies, 49(7): 968 –1009.
  • Berger, H., Kopits, G. ve Székely, I. P. (2004). “Fiscal Indulgence in Central Europe: Loss of the External Anchor?”. IMF Working Paper, No. WP/04/62.
  • Bucur, I. A. ve Dragomirescu, S. E. (2013). “An Analysis of the Fiscal Convergence Criteria in the European Union in terms of the Sustainability”. Studies and Scientific Researches Economics Edition, 18: 137-149.
  • Busemeyer, M. R. (2004). “Chasing Maastricht: The Impact of the EMU on the Fiscal Performance of Member States”. 15.02.2018 tarihinde https://ecpr.eu/Filestore/PaperProposal/4adce2c0-088e-4a8e-8030-582ac0d24a2d.pdf adresinden erişilmiştir.
  • Buti, M. ve Pench, L. R. (2004). “Why Do Large Countries Flout the Stability Pact? And What Can Be Done About It?”. JCMS: Journal of Common Market Studies, 42(5): 1025–1032.
  • Cacheux, J. L. VE Saraceno, F. (2008). One Size Does Not Fit All: Country Size and Fiscal Policy in a Monetary Union. F. Farina ve R. Tamborini (Ed.), Macroeconomic Policy in the European Monetary Union From The Old to The New Stability and Growth Pact. Oxon: Routleedge. 147-160.
  • Catenaro, M. ve Morris, R. (2008). Fiscal Policy and Implementation in EMU From Maastricht to the SGP Reform and Beyond. F. Farina ve R. Tamborini (Ed.), Macroeconomic Policy in the European Monetary Union From The Old to The New Stability and Growth Pact. Oxon: Routleedge. 19-44.
  • Chang, M. (2006). “Reforming the Stability and Growth Pact: Size and Influence in EMU Policymaking”. Journal of European Integration, 28(1): 107–120.
  • De Grauwe, P. (2009). “The Politics of the Maastricht Convergence Criteria”. 10.07.2018 tarihinde https://voxeu.org/article/politics-maastricht-convergence-criteria adresinden erişilmiştir.
  • De Haan, J., Berger, H. ve Jansen, D. (2004). “Why has the Stability and Growth Pact Failed?”. International Finance, 7(2): 235–260.
  • De Haan, J., Berger, H. ve Jansen, D. (2003). “The End of the Stability and Growth Pact?”. Cesifo Working Paper, No. 1093.
  • Deubner, C. (2006). “A Dynamic Perspective for the Reform of the Stability and Growth Pact”. CEPII Research Center Working Papers, No. 2006-06.
  • Eyraud, L., Gaspar, V. ve Poghosyan, T. (2017). “Fiscal Politics in the Euro Area”. IMF Working Paper, No. WP/17/18.
  • Eğilmez, M. (2016). “Maastricht Kriterlerinde Son Durum ve Türkiye”. 01.07.2018 tarihinde http://www.mahfiegilmez.com/2016/10/maastricht-kriterlerinde-son-durum-ve.html adresinden erişilmiştir.
  • Eurostat (2018). “Government Finance Statistics”. 19.07.2018 tarihinde http://ec.europa.eu/eurostat/data/database adresinden erişilmiştir.
  • Fischer, J., Jonung, L. ve Larch, M. (2006). “101 Proposals to reform the Stability and Growth Pact. Why so many? A Survey”. European Commission Directorate-General for Economic and Financial Affairs Economic Papers, No. 267.
  • Fitoussi, J. P. (2004). “Reform of the Stability and Growth Pact”. 03.07.2018 tarihinde https://hal-sciencespo.archives-ouvertes.fr/hal-00972683/document adresinden erişilmiştir.
  • Hallerberg, M. (2013). “Member State Sanctioning and Compliance under the European Union’s Stability and Growth Pact”. 10.07.2018 tarihinde http://wp.peio.me/wp-content/uploads/2014/04/Conf7_Hallerberg-12.09.2013.pdf adresinden erişilmiştir.
  • Hallett, A. H. ve Lewis, J. (2005). “European Fiscal Discipline before and after EMU Permanent Weight Loss or Crash Diet?”. Vanderbilt Unıversity Working Paper, No. 05-W16.
  • Hallett, A. H., Von Hagen, J. ve Lewis, J. (2003). Fiscal policy in Europe, 1991-2003: an evidence-based analysis. UK: Centre for Economic Policy Research
  • Irlenbusch, B. ve Sutter, M. (2006). “An Experimental Analysis of Voting in the Stability and Growth Pact in the European Monetary Union”. Public Choice, 126(3-4): 417–434.
  • Laurent, É. ve Cacheux, J. L. (2006). “Integrity and Efficiency in the EU: The Case Against the European Economic Constitution”. Center for European Studies Working Paper Series, No. 130.
  • Mulas-Granados, C. (2003). “The Political and Economic Determinants of Budgetary Consolidation in Europe”. European Political Economy Review, 1(1): 15-39.
  • Schioppa, F. K. P. (2006). “The 2005 Reform of the Stability and Growth Pact: Too Little, Too Late?”. Bruges European Economic Research Papers, No. 6.
  • Schmidt, V. A. (2011). Small Countries, Big Countries under Conditions of Europeanisation and Globalisation. U. Becker (Ed.), The Changing Political Economies of Small West European Countries. Amsterdam: Amsterdam University Press. 149-173.
  • Viren, Matti (2001). Fiscal Policy, Automatic Stabilisers and Coordination. A. Brunila, M. Buti ve D. Franco (Ed.), The Stability and Growth Pact The Architecture of Fiscal Policy in EMU. New York: Palgrave Macmillan. 259-286.
  • Von Hagen, J. (2003). “Fiscal Discipline and Growth in Euroland: Experiences with the Stability and Growth Pact”. ZEI Working Paper, No. B 06-2003
  • Von Hagen, J. ve Brückner, M. (2002). “Monetary and Fiscal Policy in the European Monetary Union”. Monetary and Economic Studies, 20(1): 123-166.
  • Von Hagen, J. ve Harden, I. J. (1995). “Budget Processes and Commitment to Fiscal Discipline”. European Economic Review, 39: 771-779.

Why Large Countrıes Violate the Fiscal Rules in the Economıc and Monetary Union?

Year 2018, Issue: 29, 727 - 752, 31.08.2018
https://doi.org/10.14520/adyusbd.445760

Abstract

To coordinate the fiscal policies of the Member States of the Economic and Monetary Union (EMU), some criteria have been set with Maastricht and the Stability and Growth Pact (SGP). Larger Member States have violated the Code many times before and after the establishment of the EMU. Larger countries that have difficulty in meeting the fiscal rules (criteria) have requested the revision of the SGP and hence the rules of the SGP have been relaxed. Because of these developments, several reasons have been discussed in the literature on the difficulty of major member states with fiscal rules. These reasons consist of political, economic and institutional factors. In this study, it is researched the underlying reasons of compliance of small countries with fiscal rules of Maastricht and SGP and continual violation of these rules by larger countries and some deductions have been made for Turkey.

References

  • Alouini, O. (2009). “Country Size, Economic Performance and the Political Economy of the Euro Zone : An Empirical Study of the Size Divide”. 19.07.2018 tarihinde https://core.ac.uk/download/pdf/6617895.pdf adresinden erişilmiştir.
  • Andrle, M., Bluedorn, J., Eyraud, L., Kinda, T., Koeva-Brooks, P., Schwartz, G. ve Weber, A. (2015). “Reforming Fiscal Governance in the European Union”. IMF Staff Discussion Notes, No. SDN/15/09.
  • Annett, A. (2006). “Enforcement and the Stability and Growth Pact: How Fiscal Policy Did and Did Not Change Under Europe’s Fiscal Framework”. IMF Working Paper, No. WP/06/116.
  • Avrupa Komisyonu (2018). “AB Genişleme Politikasına İlişkin 2018 Bilgilendirmesi”. 19.07.2018 tarihinde https://www.ab.gov.tr/siteimages/pub/komisyon_ulke_raporlari/2018_turkiye_raporu_tr.pdf adresinden erişilmiştir.
  • Baerg, N. R. ve Hallerberg, M. (2016). “Explaining Instability in the Stability and Growth Pact: The Contribution of Member State Power and Euroskepticism to the Euro Crisis”. Comparative Political Studies, 49(7): 968 –1009.
  • Berger, H., Kopits, G. ve Székely, I. P. (2004). “Fiscal Indulgence in Central Europe: Loss of the External Anchor?”. IMF Working Paper, No. WP/04/62.
  • Bucur, I. A. ve Dragomirescu, S. E. (2013). “An Analysis of the Fiscal Convergence Criteria in the European Union in terms of the Sustainability”. Studies and Scientific Researches Economics Edition, 18: 137-149.
  • Busemeyer, M. R. (2004). “Chasing Maastricht: The Impact of the EMU on the Fiscal Performance of Member States”. 15.02.2018 tarihinde https://ecpr.eu/Filestore/PaperProposal/4adce2c0-088e-4a8e-8030-582ac0d24a2d.pdf adresinden erişilmiştir.
  • Buti, M. ve Pench, L. R. (2004). “Why Do Large Countries Flout the Stability Pact? And What Can Be Done About It?”. JCMS: Journal of Common Market Studies, 42(5): 1025–1032.
  • Cacheux, J. L. VE Saraceno, F. (2008). One Size Does Not Fit All: Country Size and Fiscal Policy in a Monetary Union. F. Farina ve R. Tamborini (Ed.), Macroeconomic Policy in the European Monetary Union From The Old to The New Stability and Growth Pact. Oxon: Routleedge. 147-160.
  • Catenaro, M. ve Morris, R. (2008). Fiscal Policy and Implementation in EMU From Maastricht to the SGP Reform and Beyond. F. Farina ve R. Tamborini (Ed.), Macroeconomic Policy in the European Monetary Union From The Old to The New Stability and Growth Pact. Oxon: Routleedge. 19-44.
  • Chang, M. (2006). “Reforming the Stability and Growth Pact: Size and Influence in EMU Policymaking”. Journal of European Integration, 28(1): 107–120.
  • De Grauwe, P. (2009). “The Politics of the Maastricht Convergence Criteria”. 10.07.2018 tarihinde https://voxeu.org/article/politics-maastricht-convergence-criteria adresinden erişilmiştir.
  • De Haan, J., Berger, H. ve Jansen, D. (2004). “Why has the Stability and Growth Pact Failed?”. International Finance, 7(2): 235–260.
  • De Haan, J., Berger, H. ve Jansen, D. (2003). “The End of the Stability and Growth Pact?”. Cesifo Working Paper, No. 1093.
  • Deubner, C. (2006). “A Dynamic Perspective for the Reform of the Stability and Growth Pact”. CEPII Research Center Working Papers, No. 2006-06.
  • Eyraud, L., Gaspar, V. ve Poghosyan, T. (2017). “Fiscal Politics in the Euro Area”. IMF Working Paper, No. WP/17/18.
  • Eğilmez, M. (2016). “Maastricht Kriterlerinde Son Durum ve Türkiye”. 01.07.2018 tarihinde http://www.mahfiegilmez.com/2016/10/maastricht-kriterlerinde-son-durum-ve.html adresinden erişilmiştir.
  • Eurostat (2018). “Government Finance Statistics”. 19.07.2018 tarihinde http://ec.europa.eu/eurostat/data/database adresinden erişilmiştir.
  • Fischer, J., Jonung, L. ve Larch, M. (2006). “101 Proposals to reform the Stability and Growth Pact. Why so many? A Survey”. European Commission Directorate-General for Economic and Financial Affairs Economic Papers, No. 267.
  • Fitoussi, J. P. (2004). “Reform of the Stability and Growth Pact”. 03.07.2018 tarihinde https://hal-sciencespo.archives-ouvertes.fr/hal-00972683/document adresinden erişilmiştir.
  • Hallerberg, M. (2013). “Member State Sanctioning and Compliance under the European Union’s Stability and Growth Pact”. 10.07.2018 tarihinde http://wp.peio.me/wp-content/uploads/2014/04/Conf7_Hallerberg-12.09.2013.pdf adresinden erişilmiştir.
  • Hallett, A. H. ve Lewis, J. (2005). “European Fiscal Discipline before and after EMU Permanent Weight Loss or Crash Diet?”. Vanderbilt Unıversity Working Paper, No. 05-W16.
  • Hallett, A. H., Von Hagen, J. ve Lewis, J. (2003). Fiscal policy in Europe, 1991-2003: an evidence-based analysis. UK: Centre for Economic Policy Research
  • Irlenbusch, B. ve Sutter, M. (2006). “An Experimental Analysis of Voting in the Stability and Growth Pact in the European Monetary Union”. Public Choice, 126(3-4): 417–434.
  • Laurent, É. ve Cacheux, J. L. (2006). “Integrity and Efficiency in the EU: The Case Against the European Economic Constitution”. Center for European Studies Working Paper Series, No. 130.
  • Mulas-Granados, C. (2003). “The Political and Economic Determinants of Budgetary Consolidation in Europe”. European Political Economy Review, 1(1): 15-39.
  • Schioppa, F. K. P. (2006). “The 2005 Reform of the Stability and Growth Pact: Too Little, Too Late?”. Bruges European Economic Research Papers, No. 6.
  • Schmidt, V. A. (2011). Small Countries, Big Countries under Conditions of Europeanisation and Globalisation. U. Becker (Ed.), The Changing Political Economies of Small West European Countries. Amsterdam: Amsterdam University Press. 149-173.
  • Viren, Matti (2001). Fiscal Policy, Automatic Stabilisers and Coordination. A. Brunila, M. Buti ve D. Franco (Ed.), The Stability and Growth Pact The Architecture of Fiscal Policy in EMU. New York: Palgrave Macmillan. 259-286.
  • Von Hagen, J. (2003). “Fiscal Discipline and Growth in Euroland: Experiences with the Stability and Growth Pact”. ZEI Working Paper, No. B 06-2003
  • Von Hagen, J. ve Brückner, M. (2002). “Monetary and Fiscal Policy in the European Monetary Union”. Monetary and Economic Studies, 20(1): 123-166.
  • Von Hagen, J. ve Harden, I. J. (1995). “Budget Processes and Commitment to Fiscal Discipline”. European Economic Review, 39: 771-779.
There are 33 citations in total.

Details

Primary Language Turkish
Journal Section Articles
Authors

Mehmet Ela 0000-0001-7341-6312

Publication Date August 31, 2018
Published in Issue Year 2018 Issue: 29

Cite

APA Ela, M. (2018). Ekonomik ve Parasal Birlik’te Büyük Ülkeler Neden Mali Kurallara Uymamaktadır?. Adıyaman Üniversitesi Sosyal Bilimler Enstitüsü Dergisi(29), 727-752. https://doi.org/10.14520/adyusbd.445760