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Original Article Open Access


Critique of Debt Sustainability: An Alternative Concept of Sustainability and the Case of Turkey

Burak GRBZ.

Abstract
The first objective of this study is to give a critical account of debt sustainability and solvability. Based on the case of Turkey we show that debt, rather than being a transitory phenomenon is a self-sustained process. The second objective of the study entails the measurement of the social costs of debt sustainability, and calculating a new indicator for Turkey's debt sustainability. The results show that the debt sustainability indicator based on the narrow definition adopted by market actors and international institutions, and the alternative indicator that takes into account social costs move in opposite directions.

Key words: Sustainability, debt, finance, persistence, crises, Turkey. JEL Classification: F59, H63, H68.



SRDRLEBLR BORLANMANIN ELETRS: BAKA BR SRDRLEBLRLK OLGUSU VE TRKYE RNE

Özet
almann birinci amac borcun zaman iinde srdrlebilirlii ve sonlanmas kavramn eletirel bir yaklam getirmektir. Trkiye rneinden yola karak borlarn, geici bir olgudan ziyade, sreklilik gsteren bir srece tekabl ettii grlmektedir. almann ikinci amac borcun srdrlebilirliinin toplumsal maliyetlerinin llmesi, buradan da yeni bir bor srdrlebilirlik lsnn Trkiye iin hesaplanmasdr. Sonular, piyasa aktrlerinin ve uluslararas kurulularnn dar tanmna uygun borcun srdrlebilirlii gstergesi ile borcun toplumsal maliyetlerini de iine alan alternatif gstergenin zaman iinde birbirine zt hareket ettiini gstermektedir.

Anahtar Kelimeler: Srdrlebilirlik, bor, finans, sreklilik, krizler, Trkiye. JEL Snflamas: F59, H63, H68.


 
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How to Cite this Article
Pubmed Style

Burak GURBUZ. [Critique of Debt Sustainability: An Alternative Concept of Sustainability and the Case of Turkey]. Ekonomik Yaklasim. 2012; 23(82): 1-22. Turkish. doi:10.5455/ey.20000


Web Style

Burak GURBUZ. [Critique of Debt Sustainability: An Alternative Concept of Sustainability and the Case of Turkey]. http://www.ekonomikyaklasim.org/?mno=34381 [Access: January 21, 2018]. Turkish. doi:10.5455/ey.20000


AMA (American Medical Association) Style

Burak GURBUZ. [Critique of Debt Sustainability: An Alternative Concept of Sustainability and the Case of Turkey]. Ekonomik Yaklasim. 2012; 23(82): 1-22. Turkish. doi:10.5455/ey.20000



Vancouver/ICMJE Style

Burak GURBUZ. [Critique of Debt Sustainability: An Alternative Concept of Sustainability and the Case of Turkey]. Ekonomik Yaklasim. (2012), [cited January 21, 2018]; 23(82): 1-22. Turkish. doi:10.5455/ey.20000



Harvard Style

Burak GURBUZ (2012) [Critique of Debt Sustainability: An Alternative Concept of Sustainability and the Case of Turkey]. Ekonomik Yaklasim, 23 (82), 1-22. Turkish. doi:10.5455/ey.20000



Turabian Style

Burak GURBUZ. 2012. [Critique of Debt Sustainability: An Alternative Concept of Sustainability and the Case of Turkey]. Ekonomik Yaklasim, 23 (82), 1-22. Turkish. doi:10.5455/ey.20000



Chicago Style

Burak GURBUZ. "[Critique of Debt Sustainability: An Alternative Concept of Sustainability and the Case of Turkey]." Ekonomik Yaklasim 23 (2012), 1-22. Turkish. doi:10.5455/ey.20000



MLA (The Modern Language Association) Style

Burak GURBUZ. "[Critique of Debt Sustainability: An Alternative Concept of Sustainability and the Case of Turkey]." Ekonomik Yaklasim 23.82 (2012), 1-22. Print.Turkish. doi:10.5455/ey.20000



APA (American Psychological Association) Style

Burak GURBUZ (2012) [Critique of Debt Sustainability: An Alternative Concept of Sustainability and the Case of Turkey]. Ekonomik Yaklasim, 23 (82), 1-22. Turkish. doi:10.5455/ey.20000



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