The State, Crisis, and Transformation of Small and Medium-sized Enterprise Finance in Turkey

Date

2019-01-01

Author

Topal Yılmaz, Aylin

Metadata

Show full item record

Item Usage Stats

290
views

0
downloads

This chapter explains the impact of Turkey’s financial transformation since the 1980s on domestic SMEs. As is common in bank-based emerging markets like Turkey, SMEs have faced difficulties in accessing sources of sustainable finance with the transition to neoliberalism. During the 1990s, governments responded with new public credit mechanisms for SMEs. Then in the 2000s, private banks in Turkey saw SME finance as an increasingly appealing source of returns. This chapter argues that in order to integrate the SMEs into their sectoral networks, the Turkish state, as the risk-taker of last resort, provided financial support for the SMEs. Increasing state support for SMEs is not incompatible with the modalities of a neoliberal capital accumulation strategy. Since the transformation of the banking sector is part and parcel of the transformation of the whole economy, private banks seemed to orient themselves towards opening up new sources of finance for SMEs, provided that the public resources would be made available for strengthening financial credentials and accounting capabilities. Furthermore, this analysis brings to the fore the state as a nodal regulatory agency enabling interpenetration of capital and its overall circulation in the economy.

URI

https://www.routledge.com/The-Political-Economy-of-Financial-Transformation-in-Turkey-1st-Edition/Yalman-Marois-Gungen-Looney/p/book/9781857438116
https://hdl.handle.net/11511/86569
https://www.researchgate.net/publication/308747237_The_State_Crisis_and_Transformation_of_Small_and_Medium-sized_Enterprise_Finance_in_Turkey

Relation

The Political Economy of Financial Transformation in Turkey

Collections

Department of Business Administration, Book / Book chapter

Suggestions

OpenMETU
Core

The effects of transition to modern banking and the 2008 global financial crisis on the efficiency of the Turkish banking sector Sağ, Mustafa Onur; Dayıoğlu Tayfur, Meltem; Department of Economics (2010) This thesis measures the effects of transformation of Turkish banks from a “traditional” one to a “modern” one over the period 2002-2009 and 2008 global financial crisis on efficiency of Turkish banks. Malmquist Total Factor Productivity Index is constructed using data envelopment analysis to measure the efficiency change in Turkish banking sector. The paper also analyzes the sensitivity of efficiency measures to different descriptions of inputs and outputs by employing two different approaches to describe ...
The Management of household indebtedness: changing forms of state intervention in Turkey in the post-2001 period Kahraman, Erse; Bedirhanoğlu Toker, Pınar; Department of International Relations (2017) This thesis examines the process of state intervention in consumer credit markets in Turkey in the post-2001 period. The larger parts of the population have gained access to financial markets over recent decades in capitalist societies. One aspect of this change has been rapid growth of consumer credit markets and concurrent rise in household indebtedness. The dominant approaches in the literature on household debt have mainly drawn their frameworks from the experiences of the advanced capitalist economies,...
The Turkish economy and the challenge of technology: a trade perspective Ege, Aylin; Ege, A. Yavuz (2017-11-01) This article provides an analysis of Turkish trade deficits from the perspective of technology, with particular focus on the period that began with the new millennium. It draws special attention to the technological structure of Turkish exports vis-a-vis Turkey's major trade partners and illustrates how Turkish trade deficits are primarily structural in nature and essentially caused by weak technology as compared with Turkey's partners. Turkish products lack competitiveness, particularly in the case of rela...
The Impacts of the Global Crisis on the Turkish Economy and Policy Response Cömert, Hasan (2014-01-01) This paper focuses on the impacts of the recent global crisis on the Turkish economy and the policy measures taken in response to the crisis. Turkish economy was adversely affected by the crisis through mainly three channels, namely expectations channel, trade channel and financial channel. The distinctive characteristic of the crisis was a severe export shock which can account for an important part of the decline in production in Turkey. Beside this, a significant sudden stop in financial flows worsened th...
The impact of sectoral competition on inflation in Turkey Çörüş, Sinan; Voyvoda Temizsoy, Ebru; Department of Economics (2009) This thesis explores the impact of sectoral competition on inflation in Turkey. To this end, panel data analyses investigating the determinants of deviation of sectoral price inflation from the consumer price inflation, and the resulting effect of the changes in the level of sectoral competition on this deviation measure are conducted in both static and dynamic frameworks. The empirical analyses covers the 1995-2001 period and 62 manufacturing sectors classified according to International Standard of Indust...

Citation Formats

A. Topal Yılmaz, The State, Crisis, and Transformation of Small and Medium-sized Enterprise Finance in Turkey. 2019, p. 243.