Abstract
Turkey recorded a significant sucess in managing its public debt after 2001 onwards. Specifically, central government budget deficit decreased from 11,6 percent as a share of GDP to 1,5 percent during 2001–2017. Similarly, the European Union defined general government debt as a share of GDP has been reduced from 72,1 percent to 28,3 percent during the same period. Turkey not only decreased deficit and debt levels but also improved the structure of its debt, thanks to the risk management practices implemented in this period. The aim of this paper is to analyze the role of risk management practices of Turkish Treasury in public debt management.
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PFMC Law Article 1.
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Public Debt Management Law Article 4.
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Karataş, H. (2020). The Role of Risk Management in Public Debt Management: The Case of Turkey. In: Akdemir, T., Kıral, H. (eds) Public Financial Management Reforms in Turkey: Progress and Challenges, Volume 2. Accounting, Finance, Sustainability, Governance & Fraud: Theory and Application. Springer, Singapore. https://doi.org/10.1007/978-981-15-4226-8_3
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DOI: https://doi.org/10.1007/978-981-15-4226-8_3
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