Mali Kural-Mali Performans İlişkisinin Dinamik Panel Eşik Yöntemiyle İncelenmesi

Abstract

Fiscal rules are important for fiscal discipline and sustainable fiscal policies. Following the negative impact of the 2007-2008 global financial crisis and subsequent developments on countries' fiscal positions, the implementation of fiscal rules has once again become a topic of discussion for ensuring fiscal discipline and achieving stable economic structures in national economies. In this parallel, this thesis examines the impact of fiscal rule implementations on fiscal performance in a total of 93 countries that comprise 31 developed and 62 developing countries by using a dynamic panel threshold model over the 2000-2020 period. In addition, this thesis additionally analyzes the non-linear characteristics of the level of debt and economic development of countries on the relationship between fiscal rules and fiscal performance. The empirical results reveal that fiscal rules positively affect the fiscal performance of both developed and developing countries, with a more significant impact observed in developed countries. The results also show that the impact of fiscal rules on fiscal performance changes depending on the level of countries’ level of economic development and debt level. The findings and policy recommendations of this thesis are expected to guide policymakers and practitioners in designing economic policies across different country groups.