Debt Administration Research Articles

Ottoman financial integration with Europe: foreign loans, the Ottoman Bank and the Ottoman public debt

Between 1854 and 1881, the Ottoman Empire went through one of the most critical phases of the history of its relations with European powers. Beginning with the first foreign loan contracted in 1854, this process was initially dominated by a modest level of indebtedness, coupled with sporadic and inconsequential attempts by western powers to impose some control over the viability of the operation. From 1863 on, a second and much more intense phase began, which eventually led to a snowballing effect of accumulated debts. The formal bankruptcy of the Empire in 1875 resulted in the collapse of the entire system in one of the most spectacular financial crashes of the period. It was only six years later, in 1881, that a solution was found in the establishment of the Ottoman Public Debt Administration that would control a large portion of state revenues. The new system restored the financial stability of the Empire, but profoundly modified its rapports de force with Europe by imposing on it a form of foreign control that would have been unthinkable only ten or twenty years earlier. While bringing a much-needed stability to the flailing Ottoman financial situation and thus opening the way to economic development, the new system also radically changed the very nature of the process of integration, by introducing an imperialist dimension that had been lacking in the previous decades.

Putting the Politics Back into Financial Administration: An Application of Case-Based Teaching

Teachers of the budgeting/finance course in the public administration curriculum face a series of content choices that may be unique compared to those of other core courses. Most major texts offer a thorough treatment of the politics and techniques of budgeting, but few provide the same balanced treatment of the politics and techniques of financial administration. If a teacher is persuaded that the administration of finance is as political as the budgeting process, his or her challenge is integrating a political dimension into the technical aspects of tax administration, pension fund management, cash management, and debt administration. What follows is an example of how the political dimension of local debt administration can be introduced into a rigorous presentation of debt administration techniques in a method that both energizes and involves students. This article examines the necessity of including political factors in local debt administration, briefly discusses some aspects of using cases in the classroom, and offers an original case, including teaching notes, to demonstrate the intersection of the politics and practice of debt administration.

Public Budgeting in America.

(NOTE: Section Ends with Review Questions and References.) 1. Public Budget in Context. 2. Toward Modern Budgeting. 3. Budget Behavior. 4. Budget Formats and Preparation. 5. Analysis Applied to Budgeting. 6. Analytical Processes. 7. Operating Budgets and Accounting. 8. Capital Budgeting and Debt Administration. 9. Revenue Systems. 10. Internal Service Functions. Glossary. Index.

An Overlooked Problem in Turkish–Russian Relations: The 1878 War Indemnity

The 1877–1878 Russo-Turkish War left the Ottoman Empire burdened with a new debt that was to play a crucial role in the relations between Russia and Turkey in subsequent years. Diplomatic and financial histories, however, have largely overlooked this indemnity for a number of reasons. Foremost among them is the timing of the ratification of the indemnity treaty. The actual agreement governing the procedure for the payment of the indemnity was drawn up four years after the San Stefano negotiations and the Congress of Berlin. While monographs concerned with these events mention the indemnity, they fail to follow it up. Second, in the post-Berlin period the European bondholders of the Ottoman Public Debt were primarily interested in securing control over the administration of the revenues servicing their debt. The indemnity, however, remained apart from those revenues ceded to the Ottoman Public Debt Administration. The standard financial histories naturally concentrate on the projects of the bondholders and refer to the indemnity only in passing.

Long‐Term Financing and Debt Administration: Current Legal Procedures in Financing

Journal AWWAVolume 64, Issue 6 p. 356-360 Article Long-Term Financing and Debt Administration: Current Legal Procedures in Financing Paul B. Norton, Paul B. NortonSearch for more papers by this author Paul B. Norton, Paul B. NortonSearch for more papers by this author First published: 01 June 1972 https://doi.org/10.1002/j.1551-8833.1972.tb02708.x Paul B. Norton is a partner of McCall, Parkhurst and Horton, bond attys., Dallas, Tex. AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinked InRedditWechat Volume64, Issue6June 1972Pages 356-360 RelatedInformation

Long‐Term Financing and Debt Administration: Planning and Marketing Bonds

Many of the problems of long‐term financing are the same for all utilities, regardless of the utilities’ structure or location. Other problems are specific to particular locales. The joint discussion presented here, and originally given at the Southwest Sec. Meeting on Oct. 13, 1971, reviews the general and particular points of debt financing.The author of the first article explains that the problems of municipal financing today are more complicated than previously. However, there are organizations not previously available to which the utility manager can turn for help. And the utility manager can help his cause further by availing himself of staff advisers in the fields of law, engineering, and finance to meet the specific requirements of fiinancing and to coordinate all of the elements involved.The theme of the second article is that the utility that wants to raise monies for financing improvements through the issuance of bonds has two choices: general‐obligation bonds and revenue bonds. The process of financing via the latter offers the utility many procedural options. Which one is chosen depends upon the laws and their interpretation.

Local government debt administration. By Carl H. Chatters and Albert M. Hillhouse. New York City, Prentice Hall Inc., 1939. xii, 528 pp. $5.00

National Municipal ReviewVolume 28, Issue 10 p. 749-749 Books in Review Local government debt administration. By Carl H. Chatters and Albert M. Hillhouse. New York City, Prentice Hall Inc., 1939. xii, 528 pp. $5.00 Elsie S. Parker, Search for more papers by this authorFrederick L. Bird, Search for more papers by this author Elsie S. Parker, Search for more papers by this authorFrederick L. Bird, Search for more papers by this author First published: October 1939 https://doi.org/10.1002/ncr.4110281018AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onEmailFacebookTwitterLinked InRedditWechat No abstract is available for this article. Volume28, Issue10October 1939Pages 749-749 RelatedInformation

A debt administration manual for texas cities. By J. T. Barton. Austin, University of Texas, 1936. 109 pp

A debt administration manual for texas cities. By J. T. Barton. Austin, University of Texas, 1936. 109 pp

Pooling a region's credit consolidation of municipal borrowing powers on a regional scale

AbstractThe Montreal Metropolitan Commiwion has fulfilled expectations. Mr. Sampson, writing on the basis of Canadian methods of debt administration, points out how the idea can be applied elsewhere.