The Political Economy of Financial Transformation in Turkey

ISBN-13: 9781857438116 / Angielski / Twarda / 2018 / 304 str.

Thomas Marois; Galip Yalman

Opis

This comprehensive study of the historical and contemporary changes in banking, finance and development in Turkey, an exemplary case of structural adjustment, offers timely analysis of the impact of the global financial crisis on Turkey together with a critical account of how neoliberal financial transformation has been consolidated in Turkey. Turkey s neoliberal economy has evolved into one of the most dynamic among the rising powers since its 2001 financial crisis. Changes in the banking and financial sector have been vital both to Turkey s overall economic growth and to the underlying exploitative social structures that characterize neoliberal development strategies. This edited collection written by an interdisciplinary range of political economists seeks to provide the first volume which explores this transformation in detail, engaging in wider contemporary debates on the nature of peripheral financialization and varieties of capitalism. Turkey s variety of finance capitalism is defined by the increasing quantitative significance of financial flows and investments in the national economy and by the qualitative neoliberal and finance-led restructuring of the state s institutional apparatus. From this book s critical perspective, these changes have not been a class-neutral process 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 the changes occurring in Turkey constrained to its national borders. The political and economic changes privileging financial capital in Turkey have contributed to the construction and maintenance of the increasingly financialized world market. Core concepts: neoliberalism; financialisation; class restructuring; internationalization of the state and capital; variegated capitalism."

O autorze

Galip L. Yalman is an Associate Professor (retired) of Political Science in the Department of Political Science and Public Administration at the Middle East Technical University, Ankara, Turkey. His research interests extend from state theory, to international and comparative political economy. He is the President of Turkish Social Sciences Association. Thomas Marois is a Senior Lecturer of Development Studies at SOAS University of London, United Kingdom, who specializes in finance and development in emerging capitalist societies. His current research focuses on the resurgence of public banks and their potential to support alternative green and equitable development strategies. Ali Rıza Güngen is a political scientist and independent researcher, who received his PhD from the Middle East Technical University, Ankara, Turkey and was granted the Young Social Scientist award by the Turkish Social Sciences Association in 2013. His research currently focuses on sovereign debt management across the global South, and state restructuring and financial inclusion in Turkey.