The burden of savings : Financial deepening and the bankers’ crisis in Türkiye

Date

2025-8

Author

Adak, Can

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This study examines the banker crisis of the 1980s in Turkey within a historical framework, analyzing the structural causes of the crisis and its roots in the period between 1960 and 1980. The study argues that the crisis cannot be explained solely by individual misconduct, but must be understood within the context of the asymmetries in the banking and funding systems of the time, as well as the hierarchical position of the financial system in credit creation and its institutional defense mechanisms. It analyzes the structural deficiencies that allowed banker institutions to emerge and proliferate, and the macro-financial reality in which they appeared, shedding light on how efforts at financial deepening and political choices triggered crisis dynamics. The study also situates the transition from a developmentalist model to a liberal market-oriented system within a broader political-economic transformation, demonstrating how this transformation both shaped and was shaped by the banker crisis. By tracing the relationship between financial liberalization, structural voids, and quasi-banking structures such as the bankers, the thesis provides a more nuanced understanding of the systemic fragilities that accumulated during this period. In this context, the Turkish case serves as a lens to reassess how financial vulnerabilities in developing countries are shaped not only by external constraints but also by the specific policy responses to these constraints and the distortions these responses may trigger.

Subject Keywords

Bankers crisis, Financial deepening, Certificates of deposits, Holding banking, Branch banking

URI

https://hdl.handle.net/11511/115570

Collections

Graduate School of Social Sciences, Thesis