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International Journal of Economics and Financial Issues
An economy using external resources can aim at several targets e.g. growth, public financing, covering a deficit in the balance of payments. However, external/foreign debt/borrowing (EXB) may result in some negative impacts such as a vicious cycle of increase in external debt, a decline in economic growth, huge budget deficits and an imbalance of payments in addition to inflation. This study examines the influence of external debts on inflation in Turkey from 2003 to 2015. In this context, thefatcat:j3lyucvlxrff3oe46q7vlynbx4