Date

2021-7-02

Author

Daştan, Seyit Ali

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Turkey has liberalized its natural gas market two decades ago and this thesis analyzed the targets and achievements of the Turkish natural gas market liberalization process basing on the tenets of institutional theories. At the center of the reform lies privatization or franchising gas market activities to private companies, transfer of import contracts, and separation of business chains, unbundling of incumbent companies and setting market share limits. These elements merit the application of institutional theories with their focus on transaction cost economics, conduits of rent-seeking, embeddedness in informal rules, and the role of public organizations. The thesis gets to the point that reform objectives have not yet been achieved even two decades after the reform. While there are some improvements in terms of security of supply, the objective of a competitive market was by no means achieved. As the thesis unveils, the reforms in the natural gas market and the liberalization efforts have merit. However, in many cases, the foundational objectives of the reform are not maintained. The failure of Turkish natural gas market reform is evidenced by the incomplete unbundling, problems concerning import licensing and network tariffs, non-market motives in natural gas pricing and investment policies, lack of regulatory commitment and administrative capabilities as well as inefficient sharing of responsibilities among the public authorities.

Subject Keywords

Natural Gas Market, Market Reform, Liberalization, Institutional Theories, New Institutional Economics

URI

https://hdl.handle.net/11511/91228

Collections

Graduate School of Social Sciences, Thesis