Yükselen bir ekonomide ihtiyatlı kamu borç yönetimi: Türkiye tecrübesi

2008 krizi öncesi uygulanan politikalara getirilen eleştiriler borç yönetimi alanında da yaşanmaktadır. Kriz öncesinde belli hedeflere bağlı olarak ve mümkün olduğunca makroiktisadi gelişmelere bağışık yapılan “mikro bazlı borç yönetimi”nin kriz sonrasında makroiktisadi gelişmelere (daha) bağlı olarak yapılması gereği sorgulanır olmuştur. Bu çalışma, yükselen bir ekonomide borç yönetiminin makroiktisadi açıdan değerlendirmesini, borç yönetimi ile makroiktisadi politikalar arasındaki ilişkiyi irdelemekte, böyle bir ekonomideki borç yönetiminin makroiktisadi gelişmelerden bağımsızlığını ekonometrik metotlarla test etmektedir.

Prudential sovereign debt management in an emerging economy: Turkish experience

Criticisms towards policies implemented before 2008 crisis have also been prevalent for debt management. The requirement for performing “micro-based debt management” depending on macroeconomic developments in the post-crisis period rather than depending on pre-crisis specific targets and being immune to macroeconomic developments has been highly questioned. The present study evaluates debt management in terms of macroeconomics in an emerging economy; analyzes the relation between debt management and macroeconomic policies and tests the independency of debt management from macroeconomic developments in such an economy through econometric methods.

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