Fiscal space: Country applications

Although the fiscal space is a newly discussed concept in the literature, it can be associated with many fiscal policies that have been in practice since the past. In addition, the interaction of the fiscal space with many financial, economic and political instruments continues to increase day by day. The necessity of maneuverability, which the country's governments want to create in their budgets during the public financing stage, has been seen as an essential need throughout the historical process. For this reason, the fiscal space, which has been examined more closely, is discussed with a very broad perspective shaped according to the potential of each country. Therefore, the creation methods and usage areas of the fiscal space differing according to the development levels of the countries, are also separated from each other. The issue of reconciling the fiscal space, which has a very wide scope, and how the fiscal space potential of each country can be revealed in the best way is discussed from different perspectives. This study aims to understand which country groups are in a more advantageous position by analyzing the generation capacity of fiscal field of some developed and developing countries within the scope of general literature and country practices. Within the scope of this purpose, the conceptual framework of the fiscal field was examined firstly by using the descriptive method and then the basic concepts were tried to be presented. Afterward, the methods of forming the financial field and the approaches to measure the formed financial field were explained within different perspectives. Subsequently, the country's practices, which are both associated with the conceptual framework of the fiscal field and included in the methods of forming the fiscal field, are discussed and evaluated according to the development levels of the countries. In the study, it was concluded that the capacity of some developed countries to form fiscal field and make this space sustainable is higher than that of developing countries.