The Political Economy of Bank Regulation and Supervision in Turkey PDF Download

Author: Orhan H. Yazar
Publisher:
ISBN:
Category : Banking law
Languages : en
Pages : 402

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Author: Orhan H. Yazar
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 572

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Author: Galip Yalman
Publisher: Routledge
ISBN: 1317364694
Category : Business & Economics
Languages : en
Pages : 304

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Book Description
This volume provides a comprehensive study of Turkey’s financial transformation into one of the most dynamic, if not trouble-free, emerging capitalisms. While this financial evolution has underwritten Turkey’s dramatic economic growth, it has done so without ameliorating the persistently exploitative and unequal social structures that characterize neoliberalism today. This edited volume, written by an interdisciplinary range of political economists, critically examines Turkey’s financial transformation, contributing to debates on the nature of peripheral financialization. Eschewing economistic interpretations, The Political Economy of Financial Transformation in Turkey underscores both the quantitative significance of exponential growth in financial flows and investments, and the qualitative importance of the state’s institutional restructuring around financial imperatives. The book presents today’s reality as historically rooted. By understanding the choices made under the new Republic (from 1923 onwards), one can better locate the changes launched as a newly liberalizing society (since 1980). Likewise, the decisions made in response to Turkey’s 2001 financial crisis spurred a tectonic break in state–market–society financial relations. The waves of change have reached far and wide: from corporate strategies of accumulation and growth to small- and medium-sized enterprises’ strategies of financial survival; from how finance has penetrated the provisioning of housing to how households have become financialized. Put together, one grasps the complexity and historicity of the power of contemporary finance. One also sees that the changes made have not been class-neutral, but have entailed elevating the interests of major capital groups, particularly financial capital, above the interests of the poor and workers in Turkey. Nor are these changes constrained to its national borders, as what transpires domestically contributes to the making of a financialized world market. Through this ‘Made in Turkey’ approach the contributions in this volume thus challenge dominant understandings of financialization, which are derived from the advanced capitalisms, by sharing the specificity of emerging capitalisms such as Turkey.

Author: Tamer Çetin
Publisher: Springer Science & Business Media
ISBN: 1441977503
Category : Political Science
Languages : en
Pages : 251

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The Political Economy of Regulation in Turkey brings together leading international scholars and experts on Turkey and regulatory reform to provide essential information on the recent Turkish experience and its relation to competition policy. After the 1980 liberalization reform, Turkey tried to introduce competition in many industries, but network industries have remained as monopolies. At the end of the 1990s, regulatory reform was initiated and independent regulatory agencies have been established by the government. Comprehensive discussions of these network industries, in particular airlines, electricity, natural gas, telecommunications and environment regulations, are offered. The contributors inquire how economic theory and historical analyses can enlighten the character of market processes and the role for government action in these industries, and the contributions shed light on the very recent changes in the regulatory structure and important legal cases that shape the future of regulated industries. This book discusses these issues in an international perspective and relates the Turkish experience to other similar countries, such as in Eastern Europe and Central America. This book serves as a useful guide to those who want to understand major changes in Turkey and regulatory reforms in other emerging markets, making it of interest to researchers and PhD students concerned with regulatory economics, the Turkish economy, and economic policy in emerging markets.

Author: Tamer Çetin
Publisher: Springer
ISBN: 9781441977496
Category : Political Science
Languages : en
Pages : 248

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Book Description
The Political Economy of Regulation in Turkey brings together leading international scholars and experts on Turkey and regulatory reform to provide essential information on the recent Turkish experience and its relation to competition policy. After the 1980 liberalization reform, Turkey tried to introduce competition in many industries, but network industries have remained as monopolies. At the end of the 1990s, regulatory reform was initiated and independent regulatory agencies have been established by the government. Comprehensive discussions of these network industries, in particular airlines, electricity, natural gas, telecommunications and environment regulations, are offered. The contributors inquire how economic theory and historical analyses can enlighten the character of market processes and the role for government action in these industries, and the contributions shed light on the very recent changes in the regulatory structure and important legal cases that shape the future of regulated industries. This book discusses these issues in an international perspective and relates the Turkish experience to other similar countries, such as in Eastern Europe and Central America. This book serves as a useful guide to those who want to understand major changes in Turkey and regulatory reforms in other emerging markets, making it of interest to researchers and PhD students concerned with regulatory economics, the Turkish economy, and economic policy in emerging markets.

Author: Tamer Etin
Publisher: Springer
ISBN: 9781441977519
Category :
Languages : en
Pages : 260

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Book Description

Author: Y. Altunbas
Publisher: Springer
ISBN: 0230582060
Category : Business & Economics
Languages : en
Pages : 237

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In light of Turkey's EU bid and the successful IMF-led disinflation program, this book explores the evolution and performance of the Turkish banking sector. Analyzing the repercussions of overall economic structure, financial crises and political instability on its financial sector, it scrutinizes the prospects for the future of banking sectors.

Author: Stylianos Papageorgiou
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Author: Roman Goldbach
Publisher:
ISBN: 9780333717080
Category : Banks and banking
Languages : en
Pages : 0

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Book Description

Author: Deniz Gungen
Publisher:
ISBN:
Category :
Languages : en
Pages : 594

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Book Description
Abstract: Turkey has been experiencing severe economic crises in almost every decade since the end of WWII. These crises became more severe and frequent after Turkey instituted market-oriented reform in the 1980s. The persistence of crises in the Turkish political economy is puzzling given various economic reform programs implemented over an extended period of time by governments of both the right and the left of the political center. This dissertation addresses the question of why Turkey has experienced this crisis-ridden development course, even after undergoing liberalizing reform. The extant literature on this question emphasizes particular institutional factors (the prevalence of rent-seeking behavior, clientelism, and authoritarian state structures) and structural factors (e.g. global capital movement, forms of capital accumulation) to explain Turkey's record. This dissertation develops a different explanation that centers on the role of the financial sector in Turkish political development. It argues that Turkey's propensity to crisis can be explained by the way in which financial institutions were linked to economic development policies starting with the creation of state banks as a tool of state-led industrialization strategy in the 1920s. Crises in the Turkish political economy always involved the dynamics of credit growth generated in the banking sector. The ensuing moral hazard on the part of both public and private sector rendered effective monetary policies both politically and economically infeasible. Turkey's early financial reforms did not resolve this dynamic because they were primarily guided by domestic political elites whose macroeconomic and distributional concerns continued to guide the way the financial sector was regulated. Evidence for this argument is offered through an analysis of financial sector regulation both in the pre-and post liberalization period. This dissertation contributes to the literature in two ways. As spelled out, it offers an alternative explanation for the persistence of crises and the pattern of liberalizing reform in the Turkish political economy. Secondly, it contributes to our understanding of institutional change by challenging the assumption that international market forces are the main forces guiding economic reforms in developing countries.