The Political Economy Of Financial Transformation In Turkey
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The Political Economy Of Financial Transformation In Turkey
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Author : Galip Yalman
language : en
Publisher: Routledge
Release Date : 2018-10-03
The Political Economy Of Financial Transformation In Turkey written by Galip Yalman and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-10-03 with Business & Economics categories.
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.
The Political Economy Of Turkey
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Author : Zulkuf Aydin
language : en
Publisher: Pluto Press (UK)
Release Date : 2005-02-03
The Political Economy Of Turkey written by Zulkuf Aydin and has been published by Pluto Press (UK) this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-02-03 with Political Science categories.
Leading writer Boris Kagarlitsky offers an ambitious account of 1000 years of Russian history.
The Political Economy Of Turkey
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Author : Harvard University, Cambridge, MA, USA John F. Kennedy School of Government
language : en
Publisher: Springer
Release Date : 1990-06-18
The Political Economy Of Turkey written by Harvard University, Cambridge, MA, USA John F. Kennedy School of Government and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990-06-18 with Political Science categories.
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.
The Political Economy Of Public Finance
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Author : Mustafa Çelen
language : en
Publisher: Ijopec Publication
Release Date :
The Political Economy Of Public Finance written by Mustafa Çelen and has been published by Ijopec Publication this book supported file pdf, txt, epub, kindle and other format this book has been release on with Political Science categories.
Constructing Change A Political Economy Of Housing And Electricity Provision In Turkey
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Author : Ezgi B. Ünsal
language : en
Publisher: BRILL
Release Date : 2021-07-05
Constructing Change A Political Economy Of Housing And Electricity Provision In Turkey written by Ezgi B. Ünsal and has been published by BRILL this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-05 with Social Science categories.
In Constructing Change, Ezgi B. Unsal explores the commodification of social provision as a defining feature of modern world economy, by using the case studies of electricity and housing provision in Turkey.
Financial Reforms Stabilization And Development In 21st Century Turkey
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Author : Haluk Haksal
language : en
Publisher: Vernon Press
Release Date : 2019-03-28
Financial Reforms Stabilization And Development In 21st Century Turkey written by Haluk Haksal and has been published by Vernon Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-28 with Business & Economics categories.
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.
States Banks And Crisis
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Author : Thomas Marois
language : en
Publisher: Edward Elgar Publishing
Release Date : 2012-05-01
States Banks And Crisis written by Thomas Marois and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-05-01 with Business & Economics categories.
''Thomas Marois'' book, States, Banks and Crisis, is highly attractive to development scholars because of the combinations of topics it discusses, the countries analyzed, and its characterization of financial capital as dominant. In the last century the states of Mexico and Turkey promoted robust economic growth guided by powerful public banking organizations. The book captures how this came to a halt since the 1980s through the privatizing of economic activity, especially banking activities in ways that induced steep banking crises that halted economic development. Marois discusses the theory and history of Mexico and Turkey in depth offering an excellent analysis of their neoliberal experiences while proposing new alternatives to reshape the linkages between the financial sector and economic growth.'' Noemí Levy, National Autonomous University of Mexico (UNAM), Mexico City ''This book attempts to provide a critique of neoclassical and liberal political economists as well as the much-hyped and influential "varieties of capitalism" approach, a variant of institutionalist political economy, by claiming that they are dismissive of "the structural power of financial capital". In this regard, it makes an important contribution to the critical political economy tradition with its detailed analysis of the relations between the state, finance capital and labour in the context of two "emerging capitalisms", Mexico and Turkey. Thereby, it enhances our understanding of how the financial crises function as driving forces of neoliberal transformation by initiating new forms of state specific to peripheral capitalism.'' Galip Yalman, Middle East Technical University, Turkey ''As analysts fixated on the financial crisis convulsing the core capitalist countries, the so-called "emerging markets" also saw stunning tranformations in the world of finance capitalism. This remarkable study by Tom Marois carefully dissects the evolution of the banking industry in two of the most significant state-led capitalisms, Turkey and Mexico, as they formed finance-led neoliberal economic policies. The consequences for their development strategies makes for sober reading. This is a unique and crucial study for students of the comparative political economy of contemporary capitalism.'' Greg Albo, York University, Canada ''Financialization is as financialization does. It is a mix of the universal characteristics of finance within capitalism, its contemporary powerful hold over, even defining feature of, the neoliberal age, and the myriad of specific global markets and countries into which it has penetrated. In a stunning work of comparative political economy, Marois brilliantly weaves together these aspects of finance drawing on both innovative theoretical insights and primary case study evidence from Turkey and Mexico to furnish what will become a classic and original contribution to the understanding of financialization in the developing world, highlighting both the role of the state in the era of putatively free markets and the possibility, indeed, necessity of alternatives.'' Ben Fine, University of London, UK ''Marois has provided us with a fascinating, rigorous and important study of the rise and persistence of finance capitalism in Mexico and Turkey. Drawing on an innovative historical materialist lens, Marois'' analysis reveals the struggles, contradictions, and continued significance of the banking sector in defining and redefining neoliberal-led development in these so-called "emerging markets". This is a very welcome addition to critical understandings of the role of finance and states in the global South.'' Susanne Soederberg, Queen''s University, Canada Thomas Marois'' groundbreaking interpretation of banking and development in Mexico and Turkey builds on a Marxian-inspired framework premised on understanding states and banks as social relationships alongside crisis and labor as vital to finance today. The book''s rich historical and empirical content reveals definite institutionalized relationships of power that mainstream political economists often miss. While leading to a timely analysis of the impact of the Great Recession on Mexico and Turkey, the major contribution of States, Banks and Crisis in its account of emerging finance capitalism. This is defined as the current phase of accumulation wherein the interests of financial capital are fused in the state apparatus as the institutionalized priorities and overarching social logic guiding the actions of state managers and government elites, often to the detriment of labor. This interdisciplinary and accessible study on banking and development will prove to be an important resource for upper-level undergraduates, graduates, and scholars in economics, development studies, political science, political economy, development finance, sociology, international relations and international political economy.
Development And Foreign Policy In Turkey
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Author : Mustafa Kutlay
language : en
Publisher: Springer Nature
Release Date : 2023-11-27
Development And Foreign Policy In Turkey written by Mustafa Kutlay and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-11-27 with Political Science categories.
This book sketches an institutional political economy framework to discuss the interaction between development and foreign policy in the global South with reference to Turkey. The authors argue that although the developmental state framework has commonly been employed to explore domestic economic development processes without analytically focusing on the foreign policy dimension, developmental state institutions are highly relevant in the creation and pursuit of a development-oriented foreign policy at a time of growing uncertainty marred by geopolitical and geoeconomic tensions. The book develops a two-level ‘Regime Coherence Framework’ to account for the domestic and international dimensions of development-oriented foreign policy. The main argument posits that the development regime in Turkey and associated foreign policies lack coherence, due to weak institutional complementarities between economic governance, state-business relations, and financial statecraft at the domestic-external nexus.
Turkish Economy
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Author : Ahmet Faruk Aysan
language : en
Publisher: Springer
Release Date : 2018-03-30
Turkish Economy written by Ahmet Faruk Aysan and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-30 with Political Science categories.
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.
The Political Economy Of Regulation In Turkey
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Author : Tamer Çetin
language : en
Publisher: Springer Science & Business Media
Release Date : 2011-01-12
The Political Economy Of Regulation In Turkey written by Tamer Çetin and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-12 with Political Science categories.
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.