Management and Political Sciences Review

Yazarlar: Seda AYDOĞDU

Konular:Sosyal

Anahtar Kelimeler:Ottoman State,External Debts,Ottoman Finance

Özet: The Ottoman State resorted to various solution methods to balance its financial structure, which started to deteriorate towards the end of the 16th century. The Ottoman State, which started its foreign borrowing policy, which is one of these methods, in the 19th century, could not use these foreign debts effectively and generally used it in current expenses. This situation caused foreign borrowing to become chronic and the finances of the Ottoman State to become dependent in financial centers. Along with the solution methods applied, the transformation efforts tried to be realized in the Ottoman financial system became one of the solution methods with the function of both increasing the income sources and eliminating the deficiencies and failures of the solution methods. However, the financial transformation implemented in the foreign borrowing process failed to succeed reasons as the weak central bureaucracy and institutional structure in the Ottoman State, insufficient urbanization and technical infrastructure, dependence on the power of the province and lack of autonomy for the province. The aim of the study is to analyze the foreign borrowing process applied to compensate for the budget deficits and the transformation efforts that were tried to be realized in the Ottoman financial system during the process. In this context, the financial transformation efforts, the obstacles in front of these efforts and the effects of these efforts in the foreign borrowing process are mentioned in the study.

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