Although the practice of local government bankruptcy is rare in the World it is being used as a mechanism to resolve the fiscal diffuculties of local governments that cannot meet their fiscal obligations Local government bankruptcy undertakes the functions of fiscal adjustment and debt restructuring which differs from private bankruptcy While the implementation of localgovernment bankruptcy is basically divided into two types there is also a hybrid implementation In this study first of all the factors that lead local governments to bankruptcy is discussed and then the design of local government bankruptcy and selected country implementations are provided Although there is no legal arrangement related to local government bankruptcy in Turkey arrangements that could result in bankruptcy conditions do exist In this sense these arrangments are evaluated in the context of relevant legislastion and judicial decisions Keywords: Local Governments Local Government Bankruptcy Local Government Bankruptcy Types Local Government Bankruptcy in Turkey
📌 3 Key Takeaways
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Objective & Hypothesis:Although the practice of local government bankruptcy is rare in the World it is being used as a mechanism to resolve the fiscal diffuculties of local governments that cannot meet their fiscal obligations Local government bankruptcy undertakes the functions of fiscal adjustment and debt restructuring which differs from private bankruptcy While the implementation of localgovernment bankruptcy is basically divided into two types there is also a hybrid implementation In this study first of all the factors that lead local governments to bankruptcy is discussed and then the design of local government bankruptcy and selected country implementations are provided Although there is no legal arrangement related to local government bankruptcy in Turkey arrangements that could result in bankruptcy conditions do exist In this sense these arrangments are evaluated in the context of relevant legislastion and judicial decisions Keywords: Local Governments Local Government Bankruptcy Local Government Bankruptcy Types Local Government Bankruptcy in Turkey
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Key Findings & Data:Although the practice of local government bankruptcy is rare in the World it is being used as a mechanism to resolve the fiscal diffuculties of local governments that cannot meet their fiscal obligations Local government bankruptcy undertakes the functions of fiscal adjustment and debt restructuring which differs from private bankruptcy While the implementation of localgovernment bankruptcy is basically divided into two types there is also a hybrid implementation In this study first of all the factors that lead local governments to bankruptcy is discussed and then the design of local government bankruptcy and selected country implementations are provided Although there is no legal arrangement related to local government bankruptcy in Turkey arrangements that could result in bankruptcy conditions do exist In this sense these arrangments are evaluated in the context of relevant legislastion and judicial decisions Keywords: Local Governments Local Government Bankruptcy Local Government Bankruptcy Types Local Government Bankruptcy in Turkey
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Conclusion & Impact:Although the practice of local government bankruptcy is rare in the World it is being used as a mechanism to resolve the fiscal diffuculties of local governments that cannot meet their fiscal obligations Local government bankruptcy undertakes the functions of fiscal adjustment and debt restructuring which differs from private bankruptcy While the implementation of localgovernment bankruptcy is basically divided into two types there is also a hybrid implementation In this study first of all the factors that lead local governments to bankruptcy is discussed and then the design of local government bankruptcy and selected country implementations are provided Although there is no legal arrangement related to local government bankruptcy in Turkey arrangements that could result in bankruptcy conditions do exist In this sense these arrangments are evaluated in the context of relevant legislastion and judicial decisions Keywords: Local Governments Local Government Bankruptcy Local Government Bankruptcy Types Local Government Bankruptcy in Turkey
🔬Design:Research Article
📍Scope:Comprehensive Sample
⚙️Variables:Yerel Yönetimler · Yerel Yönetim İflası · Yerel Yönetim İflas Türleri
Abstract
Although the practice of local government bankruptcy is rare in the World it is being used as a mechanism to resolve the fiscal diffuculties of local governments that cannot meet their fiscal obligations Local government bankruptcy undertakes the functions of fiscal adjustment and debt restructuring which differs from private bankruptcy While the implementation of localgovernment bankruptcy is basically divided into two types there is also a hybrid implementation In this study first of all the factors that lead local governments to bankruptcy is discussed and then the design of local government bankruptcy and selected country implementations are provided Although there is no legal arrangement related to local government bankruptcy in Turkey arrangements that could result in bankruptcy conditions do exist In this sense these arrangments are evaluated in the context of relevant legislastion and judicial decisions Keywords: Local Governments Local Government Bankruptcy Local Government Bankruptcy Types Local Government Bankruptcy in Turkey
Özet
Dünyada uygulaması sınırlı da olsa iflas, mali yükümlülüklerini yerine getiremeyen yerel yönetimler için mali zorluklarının çözümünde bir mekanizma olarak kullanılmaktadır. Yerel yönetim iflası, özel iflastan farklı olarak mali düzenleme ve borç yapılandırması işlevini üstlenmektedir. Uygulama, temelde yargısal ve idari olmak üzere ikiye ayrılmaktadır, ancak bu iki yöntemin karma bir uygulaması da vardır. Bu çalışmada öncelikle yerel yönetim iflasına neden olan faktörler ele alınmış ardından ise yerel yönetim iflasının düzenlenmesi ile seçilmiş ülke uygulamalarına yer verilmiştir. Türkiye’de ise yerel yönetimlerin iflasına ilişkin yasal bir düzenleme olmasa da yerel yönetimlerin iflas etmesi sonucunu doğurabilecek bazı düzenlemeler bulunmaktadır. Bu bağlamda söz konusu düzenlemeler mevzuat ve yargı kararları çerçevesinde değerlendirilmiştir
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