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The experience of Turkey and Portugal in state debt management: quality assessment and introduction capacity


Mikhail M. Khmelnitsky
(about the author)

Khmelnitsky Mikhail M. – Applicant of the Department of Public Finances (Financial University under the Government of the Russian Federation, Moscow)

Published in:
Russian Journal of Entrepreneurship
– Volume 17, Number 18 (September 2016)

JEL classification: H12, H63, R11

Keywords: debt crisis, debt policy, foreign experience in state debt management, macroeconomic instability, state debt


Citation:
Mikhail M. Khmelnitsky (2016). The experience of Turkey and Portugal in state debt management: quality assessment and introduction capacity. Russian Journal of Entrepreneurship, 17(18), 2433–2438. doi: 10.18334/rp.17.18.36552


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Abstract:

In the article we have discussed the experience of Turkey and Portugal in state debt management, having chosen the countries as close to Russia in terms of the economic development level. Upon the results of the performed research of debt position of these states, the author has made a conclusion on the necessity to take into account foreign experience by Russian financial authorities when forming a safe structure of government liabilities portfolio and also when determining a set of tools proposed on the financial market. We have also recommended to develop a system of criteria for quality assessment of state debt management in order to secure safe tendencies in the field of public loans of the Russian Federation and to keep the state debt low, which is one of the competitive advantages of the Russian economy. We believe that in the conditions of the preserving macroeconomic instability and high volatility in the financial markets the subject of this article is highly relevant.







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