Türkiye`nin finansal liberalizasyon süreci ve borçlanma ile arasındaki ilişki

Abstract

Liberalizmin özellikle 1970'lerde kendini iyice hissettiren bu yenilenmesi sadece fikir alanında kalmadı, aktüel, ekonomik ve politik hayata da taşındı, 1979'da İngiltere'de 1980'de Amerika'da liberal fikirlere şu veya bu ölçüde bağlığı bilinen siyasi ekipler iktidara geldi. Diğer demokratik ülkelerde de liberal fikirler sosyal demokratların görüşlerine nazaran ağırlık kazanmaya başladı. 1980'lerin sonunda ise, birkaç yıl önce hayal edilmesi bile mümkün olamayan büyük dönüşümler gerçekleşti, yaygın bir tabirle, Doğu blokunu silip süpüren

Liberalism, especially in the 1970s, the idea of self-renewal which made itself feel strongly didn't only remain in the field of ideas, but also moved to economic and political life. As an example in 1970 in England and in 1980 in America political teams with liberal ideas came to power. In other democratic countries the idea of liberalism began to be popular over the views of social democrats. At the end of 1980's significant transformations which couldn't even be imagined a few years ago appeared, that is, liberalism and democracy revolution swept through the Eastern Block. Globalization leads to the emergence of a new economic structure by going beyond the local and international borders worldwide, starting in 1970's. Trade liberalization aims at reduction of government interventions, freedom of trade, privatization process, the removal of trade barriers, the removal of barriers of products, and elimination of regional restrictions. The growth based on exports includes different commodities, new information, technology and economies of scale in terms of ideas between countries in international competition, widespread use of comparative advantages of a technology development process, technological development market-based economic systems, effective functioning of the improved quality of treatment and efforts to ensure significant cost reductions. That financial development is closely related to the idea of real interest rates is due to the Mc-Kinnon-Shaw's hypothesis. The basic of the hypothesis is that the increase in real interest rates will also increase financial savings and accordingly funds used to finance investments and your investments. According to Mc Kinnon Shaw financial development will increase avarage investment volume and its efficiency in the economy. There is a positive relationship between high interest rates on financial growth and the growth rate of Gross Domestic Product. In this study by examining how financial liberalization has an effect on domestic and foreign debt, data in tables are interpreted.