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The Wealth Tax of 1942 and the Disappearance of Non-Muslim Enterprises in Turkey
Date
2019-03-01
Author
Ağır, Münis Seven
Artunc, Cihan
Metadata
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This work is licensed under a
Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License
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Turkey imposed a controversial tax on wealth to finance the army in 1942. This tax was arbitrarily assessed and fell disproportionately on non-Muslim minorities. We study the heterogeneous impact of this tax on firms by assembling a new dataset of all enterprises in Istanbul between 1926 and 1950. We find that the tax led to the liquidation of non-Muslim-owned firms, which were older and more productive, reduced the formation of new businesses with non-Muslim owners, and replaced them with frailer Muslim-owned startups. The tax helped "nationalize" the Turkish economy, but had negative implications for productivity and growth.
Subject Keywords
Economics and Econometrics
,
Economics, Econometrics and Finance (miscellaneous)
,
History
URI
https://hdl.handle.net/11511/35674
Journal
JOURNAL OF ECONOMIC HISTORY
DOI
https://doi.org/10.1017/s0022050718000724
Collections
Department of Economics, Article
Citation Formats
IEEE
ACM
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MLA
BibTeX
M. S. Ağır and C. Artunc, “The Wealth Tax of 1942 and the Disappearance of Non-Muslim Enterprises in Turkey,”
JOURNAL OF ECONOMIC HISTORY
, vol. 79, no. 1, pp. 201–243, 2019, Accessed: 00, 2020. [Online]. Available: https://hdl.handle.net/11511/35674.