MAKROEKONOMİK İSTİKRARSIZLIĞIN EKONOMİK BÜYÜME ÜZERİNDEKİ ETKİLERİ: TÜRKİYE ÜZERİNE YAPISAL KIRILMALI ZAMAN SERİSİ ANALİZİ (1983-2015)
THE EFFECTS OF MACROECONOMIC INSTABILITY ON ECONOMIC GROWTH: TIME SERIES ANALYSIS WITH STRUCTURAL BREAKS ON TURKEY (1983-2015)

Summary/Abstract: In this study, the effects of macroeconomic instability on economic growth in the Turkish economy are examined in the context of time series analysis that taken in to accounted structural breaks for the period 1983-2015. In the study this aspect, it is aimed that the long-term effects on Turkey's economic growth performance of macroeconomic instability elements derived in the form of an index from the basic macroeconomic indicators which taken into accounted together the internal and external balance conditions to be assessed. As a result of the study, it is determined in the review period that the effects of the macroeconomic instability index on economic growth in the Turkish economy are negatived direction and there is a bi-directional causality relationship between the variables. These results demonstrates that macroeconomic instability is a important constraint with the existing structure, in front of to be captured the long-term and sustainable economic growth performances in the Turkish economy during the working period. In this context, it is necessary that on the basic macroeconomic indicators that taken into accounted internal and external balance conditions to be ensured stability in order to high rate economic growth rates in the Turkish economy can be able to capture and to make its sustainable in the long-term.

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