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 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 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 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 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 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 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 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.
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 Turkey written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2017-02-03 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report discusses the findings and recommendations made in the Financial Sector Assessment Program for Turkey in the area of financial system stability. The assessment identified some important priorities for further improvement in the policy framework and in implementation. Steps are recommended to raise the effectiveness of financial supervision, enhance governance arrangements, strengthen systemic risk identification and the coordination of macroprudential policies, lower systemic liquidity risks, and address current gaps in crisis management arrangements. A stronger role for the Financial Stability Committee would support more coordinated and effective systemic risk oversight and management.
Download or read book The Political Economy of Turkey written by Harvard University, Cambridge, MA, USA John F. Kennedy School of Government and published by Springer. This book was released on 1990-06-18 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: Turkey stands at a crossroad after a decade of adjustment to its severe debt crisis in the late 1970s. This volume brings together a group of contributors who discuss the consequences of this transition and the likely pains for the future.
Download or read book Reforming the International Financial System for Development written by Jomo Kwame Sundaram and published by Columbia University Press. This book was released on 2011-01-17 with total page 561 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1944 Bretton Woods conference created new institutions for international economic governance. Though flawed, the system led to a golden age in postwar reconstruction, sustained economic growth, job creation, and postcolonial development. Yet financial liberalization since the 1970s has involved deregulation and globalization, which have exacerbated instability, rather than sustained growth. In addition, the failure of Bretton Woods to provide a reserve currency enabled the dollar to fill the void, which has contributed to periodic, massive U.S. trade deficits. Our latest global financial crisis, in which all these weaknesses played a part, underscores how urgently we must reform the international financial system. Prepared for the G24 research program, a consortium of developing countries focused on financial issues, this volume argues that such reforms must be developmental. Chapters review historical trends in global liquidity, financial flows to emerging markets, and the food crisis, identifying the systemic flaws that contributed to the recent downturn. They challenge the effectiveness of recent policy and suggest criteria for regulatory reform, keeping in mind the different circumstances, capacities, and capabilities of various economies. Essays follow ongoing revisions in international banking standards, the improved management of international capital flows, the critical role of the World Trade Organization in liberalizing and globalizing financial services, and the need for international tax cooperation. They also propose new global banking and reserve currency arrangements.
Download or read book Handbook of Research on Creating Sustainable Value in the Global Economy written by Akkucuk, Ulas and published by IGI Global. This book was released on 2019-11-15 with total page 562 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the first decade of the 21st century, the world has witnessed a plethora of corporate scandals, global economic crises, and rising environmental concerns. As a result of these developments, pressure has been mounting on businesses to pay more attention to the environmental and resource consequences of the products they produce and services they deliver. The Handbook of Research on Creating Sustainable Value in the Global Economy contains a collection of pioneering research on the integration of issues of sustainability within the traditional areas of management. While highlighting topics including green marketing, circular economy, and sustainable business, this book is ideally designed for managers, executives, environmentalists, economists, business professionals, researchers, academicians, and students in disciplines including marketing, economics, finance, operations management, communication science, and information technology.
Download or read book Uneven Centuries written by ?evket Pamuk and published by Princeton University Press. This book was released on 2018-11-20 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first comprehensive history of the Turkish economy The population and economy of the area within the present-day borders of Turkey has consistently been among the largest in the developing world, yet there has been no authoritative economic history of Turkey until now. In Uneven Centuries, Şevket Pamuk examines the economic growth and human development of Turkey over the past two hundred years. Taking a comparative global perspective, Pamuk investigates Turkey’s economic history through four periods: the open economy during the nineteenth-century Ottoman era, the transition from empire to nation-state that spanned the two world wars and the Great Depression, the continued protectionism and import-substituting industrialization after World War II, and the neoliberal policies and the opening of the economy after 1980. Making use of indices of GDP per capita, trade, wages, health, and education, Pamuk argues that Turkey’s long-term economic trends cannot be explained only by immediate causes such as economic policies, rates of investment, productivity growth, and structural change. Uneven Centuries offers a deeper analysis of the essential forces underlying Turkey’s development—its institutions and their evolution—to make better sense of the country’s unique history and to provide important insights into the patterns of growth in developing countries during the past two centuries.
