Dergi:İşletme ve Ekonomi Araştırmaları Dergisi
Makalenin Başlığı: Assessing the Twin Deficits Hypothesis in Selected OECD Countries: An Empirical Investigation
Yazar(lar): Mehmet Nargeleçekenler,Uludağ Üniversitesi,İktisadi ve İdari Bilimler Fakültesi, [email protected]
Filiz Giray, Uludağ Üniversitesi,İktisadi ve İdari Bilimler Fakültesi , [email protected]
The improvement of budget deficits and current account deficits has renewed the debate over the twin deficits hypothesis. This paper examines the validity of the twin deficits hypothesis in nine members of the Organizations for Economic Co-operation and Development (OECD) over the period 1990-2007. We use recently developed panel cointegration tests with structural breaks to assess the relationship between budget deficits and current account deficits. The empirical findings in this paper are as follows: (1) There is a long-run relationship between budget deficits and current account deficits for these countries; (2) The empirical result is consistent with the Keynesian proposition.
Anahtar Kelimeler: Twin deficits, panel unit root, structural breaks, panel cointegration
JEL Sınıflandırması: C23, E6, F4