The Impact of Technological Progress of Turkish Banking Industry on the Sector’s Employment

Year 2012, Issue: 62-63, 95 - 104, 30.11.2012

Selman Yılmaz

Abstract

The Turkish economy
witnessed a significant structural change in all of its industries since the
terrifying economic meltdown occurred in 2001. The main objective of that
inevitable structural change was to restructure the scattered economy, and
accelerate its process of international integration. Thanks to the banking
reform conducted within this framework, Turkish banking sector has willingly participated
to this change process too. In this study, it is examined how the sector’s
employment has been affected by the acceleration of foreign direct capital
inflows to the sector as a result of the judicial and technological
restructuring in Turkish banking industry within this scope. However, thanks to
the Turkish banking sector’s unique ability to tap into information
technologies to the full extent, it was observed that the employment loss in
the Turkish banking industry experienced after the economic meltdown in 2001
was first recovered, and then more jobs were created than that of 2001 levels
during the following stage. In line with this change, there is also seen an
increasing rate of human capital accumulation in the volume of labor-force in
this sector.

Keywords

Turkish Banking Industry, Foreign Capital, Technological Progress, Employment

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