This study prsents new empirical evidence on the relationship between the level of of economic growth and defense expenditures in the case of Turkey for the period of 1950-2002. On using new macroeconomic and multivariate cointegration procedure, this study demonstrates empirically that there...

This study is concerned with the components of the total seigniorage revenues that have been collected by the Turkish governments during the years 1970-1997. Traditionally, a government can increase the monetary base in order to finance its expenditures partially. This form of monetary finance...

This paper empirically analyses the stability of the narrow money demand function (M1) in Turkey for the period 1950-2002. As part of the IMF-sponsored stabilisation programme, Turkey has been pursuing base money targets. To ascertain whether this policy framework satisfies the necessary...

The existing economic literature on the black economy and its measurable size is mainly based on industrialized western countries. This paper, however, tries to estimate the size of the black economy empirically in the case of a developing country: Turkey. According to the monetary approach that...