Politics of neoliberal transformation: a comparative analysis of debt-led consumption and crisis in Turkey and Greece

Durmaz, Günseli
This thesis analyzes the neoliberal transformations of Greece and Turkey and the role of debt-led economic development strategy in this process. In order to explain historical specificities of these cases that identify the change today, a comparative historical analysis will be conducted. With this aim, the complex and multilateral relationship between state, market, international institutions and the constitutive of financial credits will be explored and the scope of this thesis will be confined to to the relationship between indebtedness and neoliberal transformations. In this thesis, it will be argued that what has differentiated the Greek and Turkish paths of neoliberal transformation has been different political trajectories of the two countries after the 1980s, which based on the differentiated capabilities of their social oppositions, and the long term implications of these different paths in terms of the sustainable development of the Greek and Turkish societies have yet to be seen in the future.


Fiscal Sustainability in Europe (FISCSUST)
Parmaksız, Ömer Kağan; Dikmen Toker, İrem(2015-11-30)
The purpose of this research project is to develop a new theoretical framework in evaluating the sustainability of fiscal policy and evolution of debt with particular emphasis on recent European experience. Fiscal or debt sustainability in literature in its most stylized form is defined as satisfying an inter-temporal budget constraint. Although it serves as a useful benchmark lower bound based on 'ability' to pay, this is a very crude approach due to its disregard of many interesting dynamics economic and ...
Debt management and financialisation as facets of state restructuring: the case of turkey in the post-1980 period
Güngen, Ali Rıza; Yalman, Osman Galip; Department of Political Science and Public Administration (2012)
This dissertation analyses the restructuring of the state and financialisation in Turkey in the post-1980 period with specific emphasis on public debt management. Turkey provides a model case of state pioneering financial deepening and intervening into the market for the socialisation of the losses of the financial sector. The dissertation argues that despite the increasing public debt ratio through 1980s and 1990s, the aim of financial deepening was persistent. The state contributed to the financialisation...
From Washington consensus to global crises
İnan, Mutlu; Yalman, Osman Galip; Department of Political Science and Public Administration (2010)
This thesis focuses on the changing modes of state intervention into the economy in neoliberalism. It contends that the so called free market is neither a natural process nor an inevitable result of the harmony of interest, but the result of a deliberate political making process. The global economic crisis provided ample evidence to refute the claim that state and market are separately existing and antagonistic entities and indicates that the issue is not the market or the state, since the state in a capita...
The determinants of financial development in Turkey : A principal component analysis
Börü, Mesrur; Erol, Işıl; Department of Economics (2009)
This thesis investigates the determinants of financial development in Turkey. Principle Component Analysis (PCA) is employed in order to examine the main determinants of financial sector development and shed light on the structure of the financial system in Turkey. The empirical studies on financial development suffer from the measurement problem. This study aims to remedy the measurement problem by providing proxies that explain different aspects of financial development more accurately than other proxies ...
Global dynamics, domestic coalitions and a reactive state: Major policy shifts in post-war Turkish economic development
Öniş , Ziya; Şenses, Fikret (Orta Doğu Teknik Üniversitesi (Ankara, Turkey), 2007-12-1)
The main objective of this study is to propose an analytical framework to explain the major policy shifts that has characterized post-war Turkish economic development; divided into four phases, starting respectively in 1950, 1960, 1980, and 2001. Its main contribution is to incorporate external and internal factors into this framework within a broadly political economy perspective, attaching particular significance to the role of economic crises in moving from one phase to the other. While the role of exter...
Citation Formats
G. Durmaz, “Politics of neoliberal transformation: a comparative analysis of debt-led consumption and crisis in Turkey and Greece,” M.S. - Master of Science, Middle East Technical University, 2015.