Debt Sustainability in Emerging Markets: A Critical Appraisal

This paper critically assesses the standard IMF analytical framework for debt sustainability in emerging markets. It focuses on complementarities and trade-offs between fiscal and external sustainability, and interactions and feedbacks among policy and endogenous variables affecting debt ratios. It examines current fragilities in emerging markets and notes that domestic debt is of concern. Despite favourable conditions, many governments are unable to generate a large enough primary surplus to stabilize public debt ratios. Worsening global financial conditions may create difficulties for budgetary transfers, posing greater challenges to government debt management since restructuring often is more difficult for domestic than external debt.debt sustainability, emerging markets, crisis

THE DEBATE ON THE INTERNATIONAL FINANCIAL ARCHITECTURE: REFORMING THE REFORMERS

This paper briefly surveys the progress made in various areas of reform of the international financial architecture since the outbreak of the East Asian crisis, and explains the principal technical and political obstacles encountered in carrying out fundamental changes capable of dealing with global and systemic instability. It ends with a brief discussion of what developing countries could do at the global, national or regional level to establish defense mechanisms against financial instability and contagion.

How to achieve high customer satisfaction in Sabancı University Information Center

The Sabancı University is a young private university, which started providing education in 1999 in Istanbul. A “Search Conference” had been organized in order to find out “what kind of a university the country needed” and of its structure had been established on this understanding. At the first stage, the vision, the mission and the design of the university were completed, and the foundation of administrative infrastructure and selection of technology systems were materialized. Starting from the days of its foundation, the planning of the information services and facilities had been one of the main issues of the project. The university, which aims to become a world university, was accepted to be a member of the “European Foundation of Quality Management (EFQM)” regarding its activities in the stage of its foundation. A “Student and Staff Tendency Survey” which was implemented in 2001 indicated that the Information Centre was the strong side of the university. At the same time the Center's the statistics covering period of 1999-2007 also indicated that the targets were achieved under the strategic planning of the Center. In 2007, an user satisfaction survey in order to evaluate the conformity of the services and facilities, to identify its strong and weak areas, opportunities and threats through comparison and SWOT analysis for the future, and set up 2007-2011 five-years strategic planning and operational activity plan. The survey indicated that 95% of the participants are satisfied in general with the Center. In addition to these, the results of usage statistics between the years 1998-2009 indicated that utilizing of the services and facilities of the Information Center has increased from year to year. On the other hand, the results of the survey after the orientation programs show that the customer satisfaction is very high. We believe that the followings are the reasons of high user satisfaction. The Centre has a user and process focused pro-active management, learning organization structure, the availability of the suggestion system, continues benchmarking with the competitors and observing management and technological developments in the world. This paper presents to share our applications and plans on high user satisfaction rate, customer relation management activities and future planning

CAPITAL FLOWS TO DEVELOPING COUNTRIES AND THE REFORM OF THE INTERNATIONAL FINANCIAL SYSTEM

Recent financial crises, whose effects have been particularly severe in developing countries, have led to a wide-ranging debate on international financial reform. This debate has had to confront the implications of the huge growth of international capital movements, one of whose consequences has been the increased “privatization” of external financing for developing countries. The paper begins with surveys of major features of the post-war evolution of the system of governance of the international financial system and of the principal trends in capital flows to developing countries during the past three decades. These set the stage for a selective review of appropriate policy responses to international financial instability, with the main focus on proposals for remedying structural and institutional weaknesses in the global financial architecture through such means as greater transparency and improved disclosure, strengthened financial regulation and supervision, more comprehensive and even-handed multilateral policy surveillance, and bailing in the private sector by arrangements for orderly debt workouts. In view of the continuing absence of effective measures at the global level for dealing with financial instability, the paper puts special emphasis on the maintenance by developing countries of national autonomy regarding policy towards capital movements.

THE MAKING OF THE TURKISH FINANCIAL CRISIS

There can be little doubt that at the turn of the century the Turkish economy was in need of an urgent stabilization in order to halt a treacherous process of high and volatile inflation, unsustainable public debt accumulation, and increasing financial fragility, resulting from irresponsible policies and lack of fiscal discipline that had been endemic under various governments since the early 1980s. However, the stabilization program formulated and launched with strong support from the IMF failed to deliver its promises, plunging the economy into an unprecedented crisis, in large part because of serious shortcomings in its design as well as in crisis intervention which appears to have drawn no useful lessons from the recent bouts of crises in emerging markets.

Üniversite Kütüphanelerinde Toplam Kalite Yönetimi ve Bir Model

The huge advances in transportation and communications that took place in the last quarter of the 20th century had great effects on the management policies and strategies of service enterprises. Total Quality Management (TQM) is a modern, effective management method that emerged as an alternative to classical management attitudes and practices that continue to transform business practices. In TQM, consideration of the expectations of internal and external users is the basis of management procedures, as are the aims of having informed and responsible employees and using teamwork to constantly improve the quality of all procedures. This study discusses the importance of Total Quality Management for university libraries as service enterprises, the reasons for their implementation of TQM, and finally the applicability of the EFQM Excellence Model in university libraries