Testing Effects of the Treasury single account system on the cost of borrowing in the OECD Countries

Saliha Çınar, Aygul Anavatan and Fatih Deyneli
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Saliha Çınar: Pamukkale University
Fatih Deyneli: Pamukkale University

Journal of Economics and Finance, 2022, vol. 46, issue 4, No 8, 757-770

Abstract: Abstract The basic function of the Treasury is to equalize the revenues and expenditures of the public in terms of space and time. Cash management, which is included in these functions, regulates the short-term cash flow between various government institutions and non-governmental organizations. To carry out the cash management system effectively, the Treasury Single Account system, which enables all revenues to be collected in one place and all expenditures to be made from one place, is widely used by countries at present. In this study, the effects of the Treasury Single Account system on macroeconomic indicators are investigated in 33 OECD member countries. More specifically, we investigate the relationship between the Treasury Single Account system and the cost of borrowing in these countries. For this purpose, we used the OECD and the World Bank data covering the period 2000–2020. According to the study’s findings, the Treasury Single Account system reduces the Treasury’s borrowing requirement and borrowing cost.

Keywords: Treasury single account; Cash Management; Cost of borrowing; Panel Data Analysis; G11; G18; H11; C23 (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/s12197-022-09584-w

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