DEPOLITICIZATION, REPOLITICIZATION, AND THE CLASS DYNAMICS OF FINANCIALIZATION: THE CASE OF AKP-ERA TURKEY AND THE ROLE OF CBRT

Date

2026-1-30

Author

Çelik, Furkan Enes

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This thesis examines the Justice and Development Party (AKP) period in power (2002-2023), the relationship between the Central Bank of the Republic of Turkey (CBRT) and the AKP during this period, and the transformation of monetary policy in this context from the perspective of Critical Political Economy and Open Marxism. The study argues against mainstream approaches that emphasize the central bank's independence discourse, maintaining that central bank independence is shaped by class dynamics. The thesis examines the transformations experienced by Turkey as a dependent financialized country. The study is structured around the distinction between two main periods. The first period, described as depoliticization (2001-2013), is characterized by integration into international capital, particularly institutional reforms and scientification from the perspective of the CBRT. The second period, repoliticization (2013-2023), emerged as a survival strategy against global liquidity tightening and internal crises, coinciding with the US Federal Reserve (FED)v decision. During this process, the government increased its direct control over the CBRT and implemented experimental policies to sustain debt-based accumulation. Ultimately, it is emphasized that these interventions constitute class-based strategies aimed at disciplining labor under the guise of stability.

Subject Keywords

Depoliticization, Repoliticization, Central Bank, Financialization, Monetary Policy

URI

https://hdl.handle.net/11511/118385

Collections

Graduate School of Social Sciences, Thesis