KÜRESELLEŞME EKSENİNDE FİNANSAL DIŞA BAĞIMLILIK: DIŞ BORÇLANMA

Nermin    YALÇIN; Aslı   YENİPAZARLI

doi:10.63127/tuaz.by.217

FINANCIAL EXTERNAL DEPENDENCY IN THE AXIS OF GLOBALIZATION: EXTERNAL BORROWING

Authors

Lecturer Nermin YALÇIN

Aydın Adnan Menderes University

https://orcid.org/0000-0002-3457-8981

Prof. Dr. Aslı YENİPAZARLI

Aydın Adnan Menderes University

https://orcid.org/0000-0002-5078-3037

DOI: https://doi.org/10.63127/tuaz.by.217.c144

Synopsis

Globalization accelerated with the spread of neoliberal policies since the 1980s, significantly increasing social, economic, and financial interactions between countries. The liberalization of capital movements and the expansion of financial markets have facilitated access to global funds, but have also deepened economic vulnerabilities and external dependence. Inadequate savings, limited capital accumulation, and chronic current account deficits, particularly in underdeveloped and developing countries, constitute fundamental structural obstacles to integration into the global system. These structural problems increase the need for external financing and make external borrowing an inevitable policy tool. However, the increase in the external debt stock strengthens dependency relations by constraining economic decision-making capacity. This study examines the relationship between globalization, external financial dependence, and external debt within a holistic framework, drawing on the historical development of globalization. The course of external debt parallel to the globalization process is evaluated using data from selected countries.

Author Biographies

Lecturer Nermin YALÇIN, Aydın Adnan Menderes University

Lect. Dr. Nermin Yalçın serves as a lecturer at the Management and Organization, Karacasu Memnune Inci Vocational School, Aydin Adnan Menderes University, Aydin, Türkiye.
E-mail: nyalcin@adu.edu.tr | ORCID: https://orcid.org/0000-0002-3457-8981

Prof. Dr. Aslı YENİPAZARLI, Aydın Adnan Menderes University

Prof. Aslı Yenipazarlı serves as a faculty board member, head of department of economic development and ınternational economics, faculty member at the Department of Economics, Nazilli Faculty of Economics and Administrative Sciences, Aydin Adnan Menderes University, Aydin, Türkiye. Yenipazarlı completed undergraduate education at Hacettepe University in the department of Economics (English) in 1999, master's education at Aydin Adnan Menderes University in the department of Economics in 2003, and Ph.D. degree from Aydin Adnan Menderes University in the field of Economics in 2009. Primary research interests include ınternational economics, regional economics, globalization, ınternational political economy, ınternational economic organizations. Yenipazarlı has national and international articles and book chapters published in Turkish and English. Selected published books include World Economy in the 21st Century.E-mail: ayenipazarli@adu.edu.tr, asliseri@gmail.com | ORCID: https://orcid.org/0000-0002-5078-3037 | ResearcherID: 43600