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.

This book shows the remarkable diversification in Turkey’s international political economy landscape in the 2000s: its domestic political-economy framework, instrumental alternatives and geographic outreach. It assesses both how an emerging economy like Turkey copes with domestic and external challenges and the question of how substantial Turkey’s recent rise in global politics really is. The volume also explains Turkey’s economic growth and political transformation in line with the changes occurring in world economics, from the Washington Consensus era to the current “mix” or “hybrid” era encompassing both the characteristics of the Post-Washington and Beijing Consensus eras. The contributors portray the complexity of Turkish politics and its fragilities at the political economy level.

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.

Since the Gezi uprisings in June 2013 and AKP’s temporary loss of parliamentary supremacy after the June 2015 general elections, sharp political clashes, ascending police operations, extra-judicial executions, suppression of the media and political opposition, systematic violation of the constitution and fundamental human rights, and the one-man-rule of President Erdoğan have become the identifying characteristics of Turkish politics. The failed coup attempt on 15th July 2016 further impaired the situation as the government declared emergency rule at the end of which a political regime defined as the “Presidential Government System” was established in July 2018. Turkey’s New State in the Making examines the historical specificities of the ongoing AKP-led radical state transformation in Turkey within a global, legal, financial, ideological, and coercive neoliberal context. Arguing that rather than being an exception, the new Turkish state has the potential to be a model for political transformations elsewhere, problematizing how specific policies the AKP adapted to refract social dispositions have been radically redefining the republican, democratic and secular features of the modern Turkish state.

The study of politics in Turkey : new horizons and perennial pitfalls / Güneş Murat Tezcür -- Democratization theories and Turkey / Ekrem Karakoç -- Ruling ideologies in modern Turkey / Kerem Öktem -- Constitutionalism in Turkey / Aslı Ü. Bâli -- Civil-military relations and the demise of Turkish democracy / Nil S. Satana and Burak Bilgehan Özpek -- Capturing secularism in Turkey : the ease of comparison / Murat Akan -- The political economy of Turkey since the end of World War II / Şevket Pamuk -- Neoliberal politics in Turkey / Sinan Erensü and Yahya M. Madra -- The politics of welfare in Turkey / Erdem Yörük -- The political economy of environmental policymaking in Turkey : a vicious cycle / Fikret Adaman, Bengi Akbulut, and Murat Arsel -- The politics of energy in Turkey : running engines on geopolitical, discursive, and coercive power / Begüm Özkaynak, Ethemcan Turhan, and Cem İskender Aydın -- The contemporary politics of health in Turkey : diverse actors, competing frames, and uneven policies / Volkan Yılmaz -- Populism in Turkey : historical and contemporary patterns / Yüksel Taşkın -- Old and new polarizations and failed democratizations in Turkey / Murat Somer -- Economic voting during the AKP era in Turkey / S. Erdem Aytaç -- Party organizations in Turkey and their consequences for democracy / Melis G. Laebens -- The evolution of conventional political participation in Turkey / Ersin Kalaycıoğlu -- Symbolic politics and contention in the Turkish Republic / Senem Aslan -- Islamist activism in Turkey / Menderes Çınar -- The Kurdish movement in Turkey : understanding everyday perceptions and experiences / Dilan Okcuoglu -- The Transnational Mobilization of the Alevis of Turkey : from invisibility to the struggle for equality / Ceren Lord -- Politics of asylum seekers and refugees in Turkey : limits and prospects of populism / Fatih Resul Kılınç and Şule Toktaş -- A theoretical account of Turkish foreign policy under the AKP / Tarık Oğuzlu -- US-Turkey relations since WWII : from alliance to transactionalism / Serhat Güvenç and Soli Özel -- Turkey and Europe : historical asynchronicities and perceptual asymmetries / Hakan Yılmaz -- Turkey's foreign policy in the Middle East : an identity perspective / Lisel Hintz -- Turkey and Russia : historical patterns and contemporary trends in bilateral relations / Evren Balta and Mitat Çelikpala -- Citizenship and protest behavior in Turkey / Ayhan Kaya -- Gender politics and the struggle for equality in Turkey / Zehra F. Kabasakal Arat -- Human rights organizations in Turkey / Başak Çalı -- Truth, justice, and commemoration initiatives in Turkey / Onur Bakiner -- The politics of media in Turkey : chronicle of a stillborn media system / Sarphan Uzunoğlu -- The AKP's rhetoric of rule in Turkey : political melodramas of conspiracy from "ergenekon" to "mastermind" / Erdağ Göknar -- The transformation of political cinema in Turkey since the 1960s : a change of discourse / Zeynep Çetin-Erus and M. Elif Demoğlu -- Political music in Turkey : the birth and diversification of dissident and conformist music (1920-2000) / Mustafa Avcı.

Turkish Economy at the Crossroads: Facing the Challenges Ahead is an exciting new volume of articles from prominent experts, edited by two distinguished economists. Despite its international stature and its diversified open-market economy, the global literature on Turkey is dispersed and sparse. The book aims to remedy this shortcoming by providing readers interested in Turkey with a balanced and up-to-date overview of the economy.Topics discussed include trends in long-term political economy, post-2001 macroeconomic policies, tradable and non-tradable sectors and their impact on income distribution, capital flows and financial imbalances, success and problems of structural transformation at the micro level, characteristics of the labor markets with special emphasis on female employment, Turkey's long lasting but difficult relations with the European Union and possible scenarios for the near future. This unified approach permits to highlight and tackle effectively the challenges and risks Turkey faces in the final and critical stage of transition to a modern developed society.

The Great Financial Meltdown reviews, advocates and critiques the systemic, conjunctural and policy-based explanations for the 2008 crisis. The book expertly examines these explanations to assess their analytical and empirical validity. Comprehensive yet accessible chapters, written by a collection of prominent authors, cover a wide range of political economy approaches to the crisis, from Marxian through to Post Keynesian and other heterodox schools.