The Cost of Imported Goods Filling The Showcases: Gradual Debt Consolidation (1958-1965)
This study focuses on debt consolidation between 1958 and 1965, with a particular emphasis on the consolidation efforts in 1960. Various types of debts in Türkiye, ranging from August 4, 1958, to 1965, were gradually consolidated, liquidated, canceled, or offset. While the majority of these debts we...
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| Format: | Article |
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Istanbul University Press
2024-07-01
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| Series: | Yakın Dönem Türkiye Araştırmaları |
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| Online Access: | https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/B861F0932AD54B36842D115D5F609486 |
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| _version_ | 1850275988573782016 |
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| author | Ferhat Akyüz |
| author_facet | Ferhat Akyüz |
| author_sort | Ferhat Akyüz |
| collection | DOAJ |
| description | This study focuses on debt consolidation between 1958 and 1965, with a particular emphasis on the consolidation efforts in 1960. Various types of debts in Türkiye, ranging from August 4, 1958, to 1965, were gradually consolidated, liquidated, canceled, or offset. While the majority of these debts were public debts, they also included private sector debts related to credit-based foreign trade and liquidated banks. The consolidated debts during this period exceeded the expenditure/income portion of any given year’s public budget totaling approximately 16 billion TL between 1958 and 1965. This study examines the gradual consolidation process initiated after the stability measures of 1958 and discusses the prerequisites of consolidation under the influence of economic policies from 1946 to 1958. It also highlights developments related to the 1959 consolidation agreement for credit-based foreign trade debts with the European Economic Cooperation Organization and the fundamental debt consolidation law enacted in 1960. Quantitative data on debt consolidation was primarily obtained from the proceedings of the Grand National Assembly of Türkiye. In addition, resources such as the archives of the Presidency of the Republic, the Official Gazette and periodicals were also used. The study reveals that public debts arising as a consequence of economic policies from 1946 to 1958, along with specific private sector debts, were deferred to the 1970s and 1980s through gradual debt consolidation. |
| format | Article |
| id | doaj-art-414e5c17953b426b962021f0656ba575 |
| institution | OA Journals |
| issn | 2547-9679 |
| language | deu |
| publishDate | 2024-07-01 |
| publisher | Istanbul University Press |
| record_format | Article |
| series | Yakın Dönem Türkiye Araştırmaları |
| spelling | doaj-art-414e5c17953b426b962021f0656ba5752025-08-20T01:50:27ZdeuIstanbul University PressYakın Dönem Türkiye Araştırmaları2547-96792024-07-014527931610.26650/YTA2024-1414419123456The Cost of Imported Goods Filling The Showcases: Gradual Debt Consolidation (1958-1965)Ferhat Akyüz0https://orcid.org/0000-0001-6825-294XSamsun Üniversitesi, Samsun, TurkiyeThis study focuses on debt consolidation between 1958 and 1965, with a particular emphasis on the consolidation efforts in 1960. Various types of debts in Türkiye, ranging from August 4, 1958, to 1965, were gradually consolidated, liquidated, canceled, or offset. While the majority of these debts were public debts, they also included private sector debts related to credit-based foreign trade and liquidated banks. The consolidated debts during this period exceeded the expenditure/income portion of any given year’s public budget totaling approximately 16 billion TL between 1958 and 1965. This study examines the gradual consolidation process initiated after the stability measures of 1958 and discusses the prerequisites of consolidation under the influence of economic policies from 1946 to 1958. It also highlights developments related to the 1959 consolidation agreement for credit-based foreign trade debts with the European Economic Cooperation Organization and the fundamental debt consolidation law enacted in 1960. Quantitative data on debt consolidation was primarily obtained from the proceedings of the Grand National Assembly of Türkiye. In addition, resources such as the archives of the Presidency of the Republic, the Official Gazette and periodicals were also used. The study reveals that public debts arising as a consequence of economic policies from 1946 to 1958, along with specific private sector debts, were deferred to the 1970s and 1980s through gradual debt consolidation.https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/B861F0932AD54B36842D115D5F609486debt consolidationpublic debtdebt historyfinance historydevaluation of 1958 |
| spellingShingle | Ferhat Akyüz The Cost of Imported Goods Filling The Showcases: Gradual Debt Consolidation (1958-1965) Yakın Dönem Türkiye Araştırmaları debt consolidation public debt debt history finance history devaluation of 1958 |
| title | The Cost of Imported Goods Filling The Showcases: Gradual Debt Consolidation (1958-1965) |
| title_full | The Cost of Imported Goods Filling The Showcases: Gradual Debt Consolidation (1958-1965) |
| title_fullStr | The Cost of Imported Goods Filling The Showcases: Gradual Debt Consolidation (1958-1965) |
| title_full_unstemmed | The Cost of Imported Goods Filling The Showcases: Gradual Debt Consolidation (1958-1965) |
| title_short | The Cost of Imported Goods Filling The Showcases: Gradual Debt Consolidation (1958-1965) |
| title_sort | cost of imported goods filling the showcases gradual debt consolidation 1958 1965 |
| topic | debt consolidation public debt debt history finance history devaluation of 1958 |
| url | https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/B861F0932AD54B36842D115D5F609486 |
| work_keys_str_mv | AT ferhatakyuz thecostofimportedgoodsfillingtheshowcasesgradualdebtconsolidation19581965 AT ferhatakyuz costofimportedgoodsfillingtheshowcasesgradualdebtconsolidation19581965 |