Download or read book Functions of the Financial System in the Economic Development of Turkey written by Zeki Bilgin and published by . This book was released on 1974 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Political Economy of Financial Transformation in Turkey written by Galip Yalman and published by Routledge. This book was released on 2018-10-03 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Turkish Banking written by Y. Altunbas and published by Springer. This book was released on 2008-12-15 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Turkish Economy written by Ahmet Faruk Aysan and published by Springer. This book was released on 2018-03-30 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book scrutinizes the last 15 years of exceptional growth in the Turkish economy, and presents a model for sustainable ongoing growth that has particular implications for other key emerging economies. The growth of the Turkish economy in the 2000’s was based on two integrated fundamental factors: fixing deteriorating dynamics and implementing further reforms to stimulate economic activity. This basic formula led to pleasing rates of economic growth, fuelled particularly by domestic private investments along with revived consumption and exports. Driven by political stability established by single party governments in the post-2002 period, an improved economic outlook helped Turkey enjoy record levels of foreign investment, adding momentum to its growth story. The Turkish experience in the post-crisis period implies that in order to achieve a fast and - more importantly - sustainable onward growth, the economy needs a new generation of structural reforms that simultaneously heal fragility and vitalize economic activity. The papers in this book offer professional assessments and assistance - especially for policymakers, and present a new direction upon which the Turkish economy - and emerging markets - can progress successfully for a further 15 years.
Download or read book Finance and Development Planning in Turkey written by Maxwell J. Fry and published by Brill Archive. This book was released on 1972 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial reforms stabilization and development in 21st century Turkey written by Haluk Haksal and published by Vernon Press. This book was released on 2016-12-22 with total page 483 pages. Available in PDF, EPUB and Kindle. Book excerpt: The central argument of this book is that while central bank independence can contribute to stabilization, inflation-targeting monetary policy is quite powerless in promoting economic development. The basic message is simple: Policy makers should not strive to achieve price stability at any cost, as stability in product markets does not necessarily translate into economic development. The recent experience of Turkey is illuminating and other developing countries, in particular those using inflation targeting monetary policy framework, can draw useful lessons from this experience. Early chapters summarize the deregulation process from 1980 to 2001. The Turkish Central Bank is placed at the center of the analysis as monetary policies have a significant impact both on stability and development. Although the 1994 and 2001 financial crises have been extensively studied elsewhere, they are nevertheless summarized to underscore the importance of central bank independence. Later chapters investigate the impact of an independent central bank on stabilization and development from 2001 onwards. Upon visiting the Turkish Central Bank's website, readers are greeted with the following statement: "The primary objective of the Bank is to achieve and maintain price stability." By the end of this book the reader should be able to assess the relative merits of a monetary policy that focuses on price stability, versus an alternative where price stability is accompanied by other objectives targeting development, for instance, monitoring also unemployment rates, which would undermine its independence to some degree. The study aims to provide a perspective on the need for such an alternative in line also with the vision of some international agencies on development, such as the UNCTAD and the ILO. This is the first book-length study examining the financial reforms Turkey undertook in its path towards EU accession. This unique work will be of interest to economists and other experts in financial history, (de)regulation, institutional economics and economic development, as well as a broad range of scholars interested in the dramatic transformation of Turkey's economy and society in the 21st century.
Download or read book Financial Programming and Policy the Case of Turkey Reprint written by International Monetary Fund and published by International Monetary Fund. This book was released on 2005-11-30 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt: The art of financial programming is a central element in the design of IMF-supported macroeconomic adjustment programs. This volume, edited by Richard Barth and William Hemphill, includes contributions from staff members of the IMF institute and introduces the reader to the concepts and tools of analysis needed to formulate a financial program. The book presents a series of workshops that explain the accounting identities, behavioral relationships, and forecasting techniques that underlie the constuction of a financial program. The workshops use the case of Turkey to illustrate the techniques, and the complete data set for Turkey is included on a diskette (supplied in a back-cover pocket).
Download or read book Essays on Financial Structure and Regional Economic Development written by Sefika Betul Esen and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this thesis is to examine the relationship between banking activitiesand regional economic growth both theoretically and empirically. The first paper describesthe evolution of the Turkish economy and the financial system at national and provinciallevels. The economic and financial indicators are shown over the period between 1975 and2013. In particular, the research sheds light on the nature of the imbalances in regionaleconomic development across Turkey. By so doing, a background for the thesis is established,as the effect of centralisation in the banking system on regional growth is examined. Thestudy finds that, despite the trend towards decentralisation that takes place in regionaleconomic policies, the banking system adopts centralisation policies.The second paper aims to assess the impact of banking institutions on regionalgrowth by integrating a decisional variable associated with the branch banking system in aconventional endogenous growth model. The comparative analysis of the output growth ofhierarchical and decentralised structures shows that the former causes capital to flow frompoorer to richer regions, thus increasing economic disparities. The model considers the effectof the nature of information on the decision-making mechanisms within institutions. Itpredicts that, in the case of soft information, decentralised banks, also known as unit banks,benefit regional growth more than branch banks. These first-time predictions encouragepolicy makers to take the structure of the banking system into consideration when establishingfiscal and monetary policies in order to decrease regional imbalances created by centralisedbanking.In the third paper, the model's implications are tested by means of GMM estimations,using a unique data set comprising 39 years of provincial demographic, socio-economic, andfinancial variables in Turkey. The research empirically shows that banking intermediation hasa negative effect on provincial growth. The hierarchical nature of the Turkish banking systemdoes not allow financial intermediaries to fulfil their role in promoting growth. Consolidationsand concentration policies should be reconsidered, as such policies are generally in favour ofcentralisation, which is proven to be ineffective in regional convergence. The findings alsoimply that branch managers should be given more decision-making powers in order to betterutilise locally generated information when approving/disapproving the projects, which wouldultimately lead to a decrease in regional imbalances.
Download or read book Country Studies Indonesia Korea Philippines Turkey written by Jeffrey Sachs and published by . This book was released on 1989 with total page 821 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Four Studies on the Economic Development of Turkey written by Frederic Claiborne Shorter and published by London : Cass. This book was released on 1967 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: Composite work on aspects of economic development in Turkey - covers the role of political parties and trade unions, military expenditures and the gross national product, rural development, the financing system (incl. Banks and monetary policy), etc. References and statistical tables.
Download or read book Financial Liberalization and Economic Development written by Yesim Muazzez Elhan and published by . This book was released on 1997 with total page 572 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Impact of Financial Liberalization and the Rise of Financial Rents on Income Inequality written by A. Erinc Yeldan and published by . This book was released on 2000 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses and assesses the impact of financial liberalization and the ongoing rise of financial rents on income distribution in the post-1980 Turkish economy.
Download or read book Essays on Financial Structure and Regional Economic Development written by Sefika Esen and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Role of Government in the Economic Development of Turkey 1923 63 written by James W. Land and published by . This book was released on 1970 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Finance Financial Sector Policies and Long run Growth written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2008 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: The first part of this paper reviews the literature on the relation between finance and growth. The second part of the paper reviews the literature on the historical and policy determinants of financial development. Governments play a central role in shaping the operation of financial systems and the degree to which large segments of the financial system have access to financial services. The paper discusses the relationship between financial sector policies and economic development.
Download or read book Financial Reforms Stabilization and Development in 21st Century Turkey written by Haluk Haksal and published by Vernon Press. This book was released on 2017-10-22 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book addresses the following problem: How a developing country needs to conduct the transition to a free market economy with particular focus on financial market reforms. Additionally, it provides a basis for explaining potential divergence from desired outcomes. We present and analyze the case of Turkey. We explore the roots of Turkey's traditionally unstable economic performance, which we have identified as being linked to weak institutions and politically-led economic management. The Turkish case shows that though internationally accredited development policies are useful guidelines for policymakers, they constitute only an initial phase of an effective transition to be completed through a domestic commitment to achieve a de-politicized and a development-oriented institutional framework. The book not only explores the complex relationship between economic instability and structural reforms in an emerging economy, but it also investigates why the international development policies proposed to developing countries have not always been successful. It is a story of how institutions developed in one part of the world become adopted and adapted in other parts of the world, each time with tensions and difficulties. It is an on-going story of global inter-cultural institutional migration of gradually sorting out best practices, adopting norms and standards in a gradual process of trial and error. This book tells the story and analyses the role that Turkey has played in this process from 1980 onwards (with some flashbacks to earlier times when appropriate) with special reference to the premature deregulation of its financial markets. It thus examines the financial reforms undertaken by Turkey as it moved towards EU membership, with particular focus on central bank monetary policies. A book length study examining the reforms Turkey undertook in the financial area during this period does not exist. We have used country risk scores published by independent rating agencies and other metrics in the post-institutional reform period, which we believe constitute acceptable measures of the degree to which institutional reform has been successful or not."
Download or read book The Political Economy of Cyclical Crisis in Turkey written by Deniz Gungen and published by . This book was released on 2010 with total page 594 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
