[PDF.73ea] The Political Economy of Ottoman Public Debt: Insolvency and European Financial Control in the late Nineteenth Century (Library of Ottoman Studies)
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The Political Economy of Ottoman Public Debt: Insolvency and European Financial Control in the late Nineteenth Century (Library of Ottoman Studies)
Murat Birdal
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| #4596860 in Books | Tauris Academic Studies | 2010-04-15 | 2010-04-15 | Original language:English | PDF # 1 | 8.80 x1.02 x5.78l,.95 | File type: PDF | 256 pages | |||'As the recent economic downturn has reminded us, debt crises have been recurrent events with extremely important consequences in financial history. In one of the well-known debt crises of the nineteenth century, the Ottoman government accumulated a large amou
In the midst of political decline and burgeoning financial problems in the late nineteenth century, the Ottoman Empire became embroiled in a borrowing frenzy, which eventually resulted in the financial collapse of the empire. Under political pressure and with the growing need for external funds, the Ottoman court compromised its fiscal sovereignty by ceding the most liquid revenue sources to a financial administration controlled by European creditors. In this boo...
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