The Relationship Between Economic Crises and DomesticExternal Borrowing After 1980 in Turkey
Turkey experienced economic crises in 1980, 1994, 2001, and 2008. Each crisis had different causes and consequences; however, domestic and external borrowing had a common effect of rising instability before and during each of these crises. This study investigates economic crises and the trajectory o...
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| Language: | English |
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Istanbul University Press
2022-04-01
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| Series: | Maliye Çalışmaları Dergisi |
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| Online Access: | https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/D16B0E42F64842CF91217A180186C2E0 |
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| author | Cansu Aydın Mehmet Cural |
| author_facet | Cansu Aydın Mehmet Cural |
| author_sort | Cansu Aydın |
| collection | DOAJ |
| description | Turkey experienced economic crises in 1980, 1994, 2001, and 2008. Each crisis had different causes and consequences; however, domestic and external borrowing had a common effect of rising instability before and during each of these crises. This study investigates economic crises and the trajectory of domestic and external debts in Turkey in 1994, 2001, and 2008, analyzing each economic crisis period in five-year episodes, including two years prior to the crisis, the year of the crisis, and two years following the crisis. The relationship between economic crises anddomestic and external debt is evaluated according to the share of borrowing to total borrowing and debt burden variables. The study seeks to determine whether the trajectories of domestic and external debt indicators share similar behaviors before, during, and after the 1994, 2001, and 2008 economic crises in Turkey. The findings indicate that the amount of domestic and foreign debt, and the share of external debt to total borrowing increased in the year prior to each economic crises. Similar trends were not observed in the year of the economic crises or in the following two years. This is an indication that the debts were unsustainable prior to the economic crisis. Hence, the sustainability of debts is critical for tackling the economic crisis. |
| format | Article |
| id | doaj-art-60f16a4572a145f59619562b09a7fefb |
| institution | OA Journals |
| issn | 2757-6728 |
| language | English |
| publishDate | 2022-04-01 |
| publisher | Istanbul University Press |
| record_format | Article |
| series | Maliye Çalışmaları Dergisi |
| spelling | doaj-art-60f16a4572a145f59619562b09a7fefb2025-08-20T02:15:59ZengIstanbul University PressMaliye Çalışmaları Dergisi2757-67282022-04-0167254510.26650/mcd2022-1068787123456The Relationship Between Economic Crises and DomesticExternal Borrowing After 1980 in TurkeyCansu Aydın0https://orcid.org/0000-0002-3001-4249Mehmet Cural1https://orcid.org/0000-0001-8759-1904Zonguldak Bülent Ecevit Üniversitesi, Zonguldak, TurkiyeZonguldak Bülent Ecevit Üniversitesi, Zonguldak, TurkiyeTurkey experienced economic crises in 1980, 1994, 2001, and 2008. Each crisis had different causes and consequences; however, domestic and external borrowing had a common effect of rising instability before and during each of these crises. This study investigates economic crises and the trajectory of domestic and external debts in Turkey in 1994, 2001, and 2008, analyzing each economic crisis period in five-year episodes, including two years prior to the crisis, the year of the crisis, and two years following the crisis. The relationship between economic crises anddomestic and external debt is evaluated according to the share of borrowing to total borrowing and debt burden variables. The study seeks to determine whether the trajectories of domestic and external debt indicators share similar behaviors before, during, and after the 1994, 2001, and 2008 economic crises in Turkey. The findings indicate that the amount of domestic and foreign debt, and the share of external debt to total borrowing increased in the year prior to each economic crises. Similar trends were not observed in the year of the economic crises or in the following two years. This is an indication that the debts were unsustainable prior to the economic crisis. Hence, the sustainability of debts is critical for tackling the economic crisis.https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/D16B0E42F64842CF91217A180186C2E0economic crisesdebt crisesborrowing preferencedomestic borrowingexternal borrowing |
| spellingShingle | Cansu Aydın Mehmet Cural The Relationship Between Economic Crises and DomesticExternal Borrowing After 1980 in Turkey Maliye Çalışmaları Dergisi economic crises debt crises borrowing preference domestic borrowing external borrowing |
| title | The Relationship Between Economic Crises and DomesticExternal Borrowing After 1980 in Turkey |
| title_full | The Relationship Between Economic Crises and DomesticExternal Borrowing After 1980 in Turkey |
| title_fullStr | The Relationship Between Economic Crises and DomesticExternal Borrowing After 1980 in Turkey |
| title_full_unstemmed | The Relationship Between Economic Crises and DomesticExternal Borrowing After 1980 in Turkey |
| title_short | The Relationship Between Economic Crises and DomesticExternal Borrowing After 1980 in Turkey |
| title_sort | relationship between economic crises and domesticexternal borrowing after 1980 in turkey |
| topic | economic crises debt crises borrowing preference domestic borrowing external borrowing |
| url | https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/D16B0E42F64842CF91217A180186C2E0 |
| work_keys_str_mv | AT cansuaydın therelationshipbetweeneconomiccrisesanddomesticexternalborrowingafter1980inturkey AT mehmetcural therelationshipbetweeneconomiccrisesanddomesticexternalborrowingafter1980inturkey AT cansuaydın relationshipbetweeneconomiccrisesanddomesticexternalborrowingafter1980inturkey AT mehmetcural relationshipbetweeneconomiccrisesanddomesticexternalborrowingafter1980inturkey |