Bu çalışmanın amacı, ekonomik büyümenin devamlılığı için beşeri sermayenin önemini ortaya koymaktır. Bu çerçevede 2010-2014 dönemine ait veriler Panel Veri Tekniği kullanılarak empirik olarak analiz edilmiştir. Elde edilen genel sonuçlar, beşeri sermaye unsurlarında zaman içerisinde meydana gelen iyileşmelerin, ekonomik büyümenin ve devamlılığı üzerinde pozitif etkiye sahip olduğunu göstermektedir. Bu sonuca ek olarak beşeri sermaye unsurlarının ekonomik büyümeyi açıklama gücünün yüksek gelir grubu ülkeler açısından ciddi boyutlarda olduğunu göstermektedir.
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.
During the historical process, application of the monetary policies and the roles of the central banks have changed within the framework of the developments in the world economy, problems encountered and the economic policies as a solution to these problems. The financial crises after 1990 and the recent financial crisis as the biggest experienced one after 1930s, caused an increase in the importance of the task of providing financial stability besides price stability and in this context in the function of “lender of last resort” of the central bank. The crisis required using new policy instruments in addition to interest rate instrument which was not sufficient enough in providing financial stability and the roles of the central banks in providing financial stability changed. In this study, applications of monetary policies and the changing role of the central banks will be examined. Within this framework, traditional and non-traditional instruments will be explained and the problems that can be confronted by a central bank when providing price stability besides financial stability will be remarked.
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