The sustainability analysis of Turkish domestic debt

Alkan, Feyza
In this thesis, sustainability of the Turkish domestic debt is analyzed within the “sustainability indicators” perspective. The fiscal targets of Maastricht Treaty (1992) are imposed on the Turkish fiscal policy and it is investigated whether these targets are the indicators for sustainability in the medium term. Uctum and Wickens’ (2000) methodology is followed in assessing the sustainability of the current fiscal policy and the efficiency of the Maastricht Treaty (1992) targets. Moreover, the vector auto regression (VAR) approach of Garcia and Rigobon (2004) is utilized in deriving the econometric model for the debt dynamics of Turkey. The results suggest that domestic debt of Turkey has been unsustainable within 1994-2008. Furthermore, the Maastricht Treaty (1992) fiscal targets are binding for Turkey and gaining more significance in the recent years.


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This thesis analyses the effect of sectoral and macroeconomic variables on the profitability of the Turkish commercial banks over the period 2005-2009:3 by using multiple regressions. In this study, profitability of Turkish banking system in the mentioned period is discussed and questions such as why some commercial banks are more profitable than others and to what extent discrepancies in banks’ profitability are due to variation in endogenous factors under the control of bank management and to what extent ...
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Citation Formats
F. Alkan, “The sustainability analysis of Turkish domestic debt,” M.S. - Master of Science, Middle East Technical University, 2009.