Yazar "Gulsen, Mustafa Alpin" seçeneğine göre listele

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    Governance quality vs. stimulus size: fiscal policy effectiveness during the COVID-19 pandemic
    (Inst Public Finance - Croatia, 2025) Topcu, Mert; Gulsen, Mustafa Alpin
    MER Given the importance of good governance for the efficiency ofgovernmentspend-ing, this study reveals the role of governance quality in fiscal policy effectiveness during the COVID-19 outbreak. Using cross-country threshold regressions for 144 countries, we find that a stringent lockdown policy (i) does not lead to economic downturn in countries with larger fiscal stimulus, (ii) leads countries with poor governance quality to head toward economic slowdown even with higher stimulus packages, (iii) does contribute to economic recovery even in countries with smaller fiscal packages if accompanied by higher governance quality. Overall, the results suggest that good governance helps achieve economic recovery, whereas an increase in the size of the fiscal stimulus can, at best, help protect against economic slowdown. The empirical findings have several implications for policymakers in countries where the blow hits the hardest, as well as for fiscalgovernance framework.
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    New Stage in the Regulation of Global Public Goods: Regulatory Capitalism
    (Economic And Financial Research Assoc - Efad, 2023) Gulsen, Mustafa Alpin
    The theoretical abstract structure of the regulations emerges as a phenomenal reality, with the phenomenon of regulator capitalism. In this context, regulator capitalism refers to the transformation of the relationship between society and the state into a business-state relationship with a different division of labor structure. This indicates that global regulators play an active role in the provision of global public goods and services. In the study, the public organization model transformed by regulator capitalism is handled as a transition from bureaucracy to regulocracy. This failure of regulator capitalism is examined in the framework of the regulator capture in this study. While regulocracy refers to the social layer of the new system, which consists of experts and has universal solutions, the regulator capture states that the regulating companies will evolve into the regulator position after aAwhile. While this structure of regulatory capitalism reveals aAnew division of labor, it also obscures the accountability of public services between society and the state. Such ambiguity has caused representative democracy to be replaced by indirect representative democracy. AsAa result, the public sector has moved away from public financial management principles such as transparency and accountability.
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    Principal-Agent-Ethical Relationship in the Formation of Fiscal Policies: Theoretical Evaluation
    (Igiad-Turkish Entrepreneurship & Business Ethics Assoc, 2023) Gulsen, Mustafa Alpin
    This study delves into the link between ethics and fiscal policy decisions that are made in line with the way public finances are organized, suggesting that when it comes to ethics, there is an intersection between society and policymakers that serves as a balance point. However, this balance point may not always be correctly located due to issues such as collective stalemate problems and asymmetric information. While social ethics is considered a positive democratic phenomenon, it may also have a negative meaning due to flawed perceptions, and an ethical standard formed by social consensus has a high probability of proving erroneous. To address this, it is necessary to have accurate and stable information transfer as a global public good to reduce the asymmetry of ethical problems. The public sector allocates resources based on its ethical preferences through fiscal policies, with the proportional distribution of expenditure items in the budget reflecting such ethical considerations. The budget also plays a key role in shaping social organization and influencing future generations, so it is imperative to limit such an important document, namely the budget. In this respect, ethics could serve as a guiding principle for making decisions about how public funds are allocated through fiscal policy. Therefore, ethics can be viewed as a fiscal rule imposing numerical ceilings as a permanent constraint on fiscal policy.
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    Öğe
    The Effect of Fiscal Policies on Business Cycles in Turkey
    (Ural Federal Univ, 2022) Gulsen, Mustafa Alpin
    Fiscal policies are designed to balance cyclical fluctuations. Fiscal policies in developed countries are mostly countercyclical. However, fiscal policies alone cannot explain the cyclical effect of fiscal policies implemented in developing countries. This is due to weak institutional structures, political restrictions, and populist practices. The study examined the effect of fiscal policies on business cycles in Turkey between 1975-2020 using the ARDL model and annual data. According to the findings, public expenditures, investment expenditures, tax revenues, direct tax revenues, and budget balance increase the output gap. On the other hand, trade openness, government transfer payments, and indirect tax revenues reduce the output gap. Based on the empirical findings, the following comments can be made: (a) fiscal policy can be considered cyclical in this period; (b) cyclical fluctuations are reduced in open economies; (c) budget balance increases cyclical fluctuations (non-Keynesian effect). A possible reason for this is that the budget revenues mainly consist of indirect tax revenues (70% in Turkey). The significance of the results obtained in the study are as follows: (1) analyzes the impact of fiscal policies implemented by a developing economy on stability using a current and long time series; (2) provides an insight into the institutional quality and response of implemented fiscal policies through short -and long-term analysis; (3) analyzes the effect of Turkey's ability to implement fiscal policies, which prefers the global markets integration model, and the tax technique it creates, on the economy.