Control, Reform and Political Competition: Serbia, 1878–1914

Ali Coşkun Tunçer
Additional contact information
Ali Coşkun Tunçer: University College London

Chapter 5 in Sovereign Debt and International Financial Control, 2015, pp 79-99 from Palgrave Macmillan

Abstract: Abstract The IFC experiences of Egypt and the Ottoman Empire emerged in late 1870s as a result of a wave of defaults, which newly independent states of the Balkans managed to avoid as they were still at the early stages of borrowing in international financial markets. However, the 1890s witnessed another surge of sovereign debt crises, which resulted in the defaults of Greece and Serbia. Following the chronological order of IFC appearances in the region, in this chapter I first explore Serbia’s experience of foreign control, which was established in 1895 — just three years earlier than the Greek case. The first section provides a brief review of Serbia’s history of sovereign borrowing from the Berlin Treaty to the foundation of IFC in 1895. In the second half of the chapter, I discuss the functioning of the Autonomous Monopoly Administration of Serbia, which represented a transition from direct fiscal control of creditors to a less intrusive method of financial supervision.

Keywords: Budget Deficit; Bilateral Trade; Political Competition; Issue Price; Sovereign Debt (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:psitcp:978-1-137-37854-5_5

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137378545

DOI: 10.1057/9781137378545_5

Access Statistics for this chapter

More chapters in Palgrave Studies in the History of Finance from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().