International Conference on Eurasian Economies
12-14 October 2011 – Bishkek, KYRGYZSTAN
Paper detail
Paper ID : 279
Status : Paper published
Language : Turkish
Topic : Regional Economics
Presenter: Asst. Prof. Dr. Çağatay Karaköy
Session : 2B Finans
The Changes in Foreign Debt for the Transition Economies
Geçiş Ekonomilerinde Dış Borçlulukta Değişmeler
- Asst. Prof. Dr. Çağatay Karaköy (Cumhuriyet University, Türkiye)
- Prof. Dr. Ahmet Uzun (Cumhuriyet University, Türkiye)
- Prof. Dr. Ömer Selçuk Emsen (Atatürk University, Türkiye)
Abstract
1989 and the years following 1991 were the times in which many important economic and political turnovers had taken place in the world. That was the time when Berlin Wall fall down with scattering the Eastern block and many politically and economically independent states came into being, at the same time, ongoing about 70 years socialist system also started to spin into liberal system. The constituted 27 states in 1991 were tended to liberal economic system instead of socialist economy, and these stated were called as transition economies. With the transition period, there has have been significant decreases in the level of affluence, hyperinflation and some common properties seen at the beginning. It became inevitable to get foreign debt for reorganization and configuration of these economies. Nevertheless these foreign debts caused many serious problems in some of these economies. In the present work we tried to understand the economic structure and external loans of the transition economies, which are different with respect to their natural resources and are similar to each other in term of social, political and cultural aspects. It was under debated to investigate the relationship between indicated foreign debts and indicated domestic income and external trade so foreign trade financing problematic which thought to be the source of going into debt and economical development relations are searched.
JEL codes: F21, F34, H63
Karaköy, Çağatay, Uzun, Ahmet, Emsen, Ömer Selçuk (2011). "The Changes in Foreign Debt for the Transition Economies" in Proceedings of International Conference of Eurasian Economies 2011, pp.124-129, Bishkek, KYRGYZSTAN.
DOI: https://doi.org/10.36880/C02.00279
