HYMAN P. MINSKY’S “BIG GOVERNMENT” APPROACH IN SECURING ECONOMIC STABILITY AND ITS APPLICABILITY IN THE TURKISH ECONOMY

Authors : Erkan TOKUCU, Serkan KÜNÜ, Murat AKÇA

Pages : 807-828

Doi:10.36543/kauiibfd.2019.034

View : 20 | Download : 12

Publication Date : 2019-12-31

Article Type : Research Paper

Abstract :The aim of this article is to discuss the applicability of Hyman P. Minsky’s “big government policy” proposal in the Turkish economy. According to Minsky, one of the main causes of economic cycles is the private sector’s decreasing investments and profits. The government is able to contribute to economic stability by reversing the decreasing investments and profits by means of big government policies. Turkish macroeconomic data verifies theoretical explanations of big government regarding total profits. Moreover, budget indicators show that the government can implement big government policies to secure financial and economic stability in Turkey.
Keywords : Big Government, Sectoral Financial Balances, Economic Stability