Socio-economic transformation of financial capital in Turkey after 1980's

Tacer, Ali Özgür
The study of money and banking is largely considered the purview of economics. Nevertheless, money theme cannot be neglected by social analysis for money is a social construct, embedded in social interactions. Financial system, money̕s highest level of institutionalization, also cannot be abstracted from social and political sub-structure. In this thesis we tried to look at the way in which Turkish financial transformation in early 1980̕s has found its reflections on social sphere; in terms of changing social relations and institutions. We first presented a short history of Turkish financial system, then we focused on the essential features of 1980 Transformation, covering its political background. The emphasis is made on power relations between bureaucracy, political will and financial market participants. We also combined the main features of mainstream theoretical approaches to money and finance from the fields of sociology and we put current debates on Turkish financial liberalization into the context of sociology. As we considered the ways financial relations shape societal developments and political processes, we tried to identify how debt-money system had permeated further in the social relations through financialization of society.


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Citation Formats
A. Ö. Tacer, “Socio-economic transformation of financial capital in Turkey after 1980’s,” M.S. - Master of Science, Middle East Technical University, 2004.