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The Return of the State and Its Alla Turca Version

Year 2024, Volume: 21 Issue: 83, 5 - 23, 27.08.2024
https://doi.org/10.33458/uidergisi.1522737

Abstract

Economic nationalism and state intervention recently gained attraction in many countries including Turkey. This paper questions whether Turkey has changed its economic policy framework towards a statecentric model and, if so, whether these changes are well thought-out and sustainable. The examination of key areas of state capitalism, that is the monetary, industrial, trade, financial, and state economic enterprise (SEE) policies put forward in the officially adopted five-year plans and annual programs, suggests that the changes in the economic policy framework began after the 2008 global crisis and accelerated after the transition to a presidential system. Upon examination, the policy framework does not reflect a definitive, coherent, and wholistic approach but rather a pragmatic attitude that swings back and forth, which exposes the country to swings in the global system.

References

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  • Akçay, Ümit, and Ali Rıza Güngen. 2022. Dependent Financialisation and Its Crisis: The Case of Turkey. Cambridge Journal of Economics 46, 2: 293–316.
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The Return of the State and Its Alla Turca Version

Year 2024, Volume: 21 Issue: 83, 5 - 23, 27.08.2024
https://doi.org/10.33458/uidergisi.1522737

Abstract

Economic nationalism and state intervention recently gained attraction in many countries including Turkey. This paper questions whether Turkey has changed its economic policy framework towards a statecentric model and, if so, whether these changes are well thought-out and sustainable. The examination of key areas of state capitalism, that is the monetary, industrial, trade, financial, and state economic enterprise (SEE) policies put forward in the officially adopted five-year plans and annual programs, suggests that the changes in the economic policy framework began after the 2008 global crisis and accelerated after the transition to a presidential system. Upon examination, the policy framework does not reflect a definitive, coherent, and wholistic approach but rather a pragmatic attitude that swings back and forth, which exposes the country to swings in the global system.

References

  • Acemoğlu, Daron, and E. Murat Üçer. 2020. High-Quality Versus Low-Quality Growth in Turkey: Causes and Consequences. In Turkish Economy at the Crossroads, eds. Asaf Savaş Akat and Seyfettin Gürsel. World Scientific: 37-89.
  • Adaman, Fikret, and Bengi Akbulut. 2021. Erdoğan’s Three-Pillared Neoliberalism: Authoritarianism, Populism and Developmentalism. Geoforum 124: 279–89.
  • Akçay, Ümit. 2021. Authoritarian Consolidation Dynamics in Turkey. Contemporary Politics 27, 1: 79–104.
  • Akçay, Ümit. 2023. Türkiye’de 2002-2023 Arası Uygulanan Para Politikalarının Ekonomi Politiği. ODTÜ Gelişme Dergisi 50: 195–236.
  • Akçay, Ümit, and Ali Rıza Güngen. 2022. Dependent Financialisation and Its Crisis: The Case of Turkey. Cambridge Journal of Economics 46, 2: 293–316.
  • Alami, Ilias, and Adam D. Dixon. 2020. The Strange Geographies of the ‘New’ State Capitalism. Political Geography 82, 102237.
  • Altman, Roger C. 2009. Globalization in Retreat. Foreign Affairs, September 17. https://www.foreignaffairs.com/articles/2009-07-01/globalization-retreat. (accessed July 4, 2020)
  • Apaydin, Fulya, and Mehmet Kerem Çoban. 2023. The Political Consequences of Dependent Financialization: Capital Flows, Crisis and the Authoritarian Turn in Turkey. Review of International Political Economy 30, 3: 1046–1072.
  • Ateş, Mustafa. 1999. Türkiye’de Kalkınma Planları ve Yıllık Programların Hazırlanması. Sayıştay Dergisi, 33: 86–103.
  • Bastian, Jens. 2024. Turkey: An Emerging Global Arms Exporter. Stiftung Wissenschaft und Politik (SWP).
  • BDDK. 2024. Aylık Bülten. https://www.bddk.org.tr/BultenAylik/tr/Home/Gelismis.
  • Bircan, Cagatay, and Orkun Saka. 2019. Lending Cycles and Real Outcomes: Costs of Political Misalignment. EBRD Working Paper, no. 225. https://www.ebrd.com/publications/workingpapers/lending-cycles. (accessed March 19, 2024)
  • Bloomberg. 2022. Turkish Lira Weakens to Lowest Since 2021 Currency Meltdown. Bloomberg, May 24. https://www.bloomberg.com/news/articles/2022-05-24/turkish-lira-weakens-to-lowestsince-2021-currency-meltdown. (accessed July 5, 2022)
  • Bremmer, Ian. 2011. The End of the Free Market: Who Wins the War Between States and Corporations? London, Portfolio.
  • Buğra, Ayşe, and Osman Savaşkan. 2021. Türkiye’de Yeni Kapitalizm. İstanbul, İletişim Yayınları.
  • Colantone, Italo, and Piero Stanig. 2019. The Surge of Economic Nationalism in Western Europe. Journal of Economic Perspectives 33. 4: 128–51.
  • Dorlach, Tim, and Osman Savaşkan. 2018. The Political Economy of Economic and Social Policy in Contemporary Turkey: An Introduction to the Special Issue. Journal of Balkan and Near Eastern Studies 20, 4: 311–317.
  • DPT. 2006. Ninth Development Plan (2007-2013). TR Prime Ministry State Planning Organization. https://www.sbb.gov.tr/wp-content/uploads/2018/11/Ninth_Development_Plan_2007-2013.pdf. (accessed July 7, 2022)
  • DPT. 2007. 2008 Yılı Programı. T. C. Başbakanlık DPT. https://www.sbb.gov.tr/wp-content/uploads/2022/07/2008_Yili_Programi.pdf. (accessed July 7, 2022)
  • DPT. 2008. 2009 Yılı Programı. T. C. Başbakanlık DPT. https://www.sbb.gov.tr/wp-content/uploads/2022/07/2009_Annual_Programme.pdf. (accessed July 7, 2022)
  • DPT. 2009. 2010 Yılı Programı. T. C. Başbakanlık DPT. https://www.sbb.gov.tr/wp-content/uploads/2022/07/2010_Annual_Programme.pdf. (accessed July 7, 2022)
  • DPT. 2010. 2011 Yılı Programı. T. C. Başbakanlık DPT. https://www.sbb.gov.tr/wp-content/uploads/2022/07/2011_Annual_Programme.pdf. (accessed July 7, 2022)
  • Esen, Berk, and Sebnem Gumuscu. 2018a. The Perils of ‘Turkish Presidentialism.’ Review of Middle East Studies 52, 1: 43–53.
  • Esen, Berk, and Sebnem Gumuscu. 2018b. Building a Competitive Authoritarian Regime: State–Business Relations in the AKP’s Turkey. Journal of Balkan and Near Eastern Studies 20, 4: 349–372.
  • Evans, Peter B. 1989. Predatory, Developmental, and Other Apparatuses: A Comparative Political Economy Perspective on the Third World State. Sociological Forum 4, 4: 561–587.
  • Fareed, Zakaria. 1997. The Rise of Illiberal Democracy. Foreign Affairs 76, 6: 22–43.
  • Financial Times. 2021. Turkey’s Currency Crisis Is of Erdogan’s Making. November 28, 2021.
  • Financial Times. 2022a. Turkish Lira’s Slide Accelerates as Erdoğan Vows to Continue Slashing Rates, June 8.
  • Financial Times. 2022b. Turkish Bank Regulator Limits Lira Loans for Firms Holding Foreign Exchange. June 24.
  • Frieden, Jeffry A. 2006. Global Capitalism: Its Fall and Rise in the Twentieth Century. W. W. Norton & Company.
  • Gilman, Martin. 2018. Divergent Performance and Shifting Alliances in a Deglobalizing World. International Organisations Research Journal 13, 2: 7–15.
  • Güven, Ali Burak. 2023. Towards a New Political Economy of Turkish Capitalism: Three Worlds. Turkish Studies 24. 1: 177–196.
  • Hall, Peter A. 2022. The Shifting Relationship between Post-War Capitalism and Democracy. Government and Opposition 57, 1: 1–30.
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There are 97 citations in total.

Details

Primary Language English
Subjects International Politics
Journal Section Research Article
Authors

Ümit İzmen 0000-0002-6000-1246

Soli Özel This is me 0000-0001-6557-584X

Early Pub Date August 1, 2024
Publication Date August 27, 2024
Published in Issue Year 2024 Volume: 21 Issue: 83

Cite

APA İzmen, Ü., & Özel, S. (2024). The Return of the State and Its Alla Turca Version. Uluslararası İlişkiler Dergisi, 21(83), 5-23. https://doi.org/10.33458/uidergisi.1522737
AMA İzmen Ü, Özel S. The Return of the State and Its Alla Turca Version. uidergisi. August 2024;21(83):5-23. doi:10.33458/uidergisi.1522737
Chicago İzmen, Ümit, and Soli Özel. “The Return of the State and Its Alla Turca Version”. Uluslararası İlişkiler Dergisi 21, no. 83 (August 2024): 5-23. https://doi.org/10.33458/uidergisi.1522737.
EndNote İzmen Ü, Özel S (August 1, 2024) The Return of the State and Its Alla Turca Version. Uluslararası İlişkiler Dergisi 21 83 5–23.
IEEE Ü. İzmen and S. Özel, “The Return of the State and Its Alla Turca Version”, uidergisi, vol. 21, no. 83, pp. 5–23, 2024, doi: 10.33458/uidergisi.1522737.
ISNAD İzmen, Ümit - Özel, Soli. “The Return of the State and Its Alla Turca Version”. Uluslararası İlişkiler Dergisi 21/83 (August 2024), 5-23. https://doi.org/10.33458/uidergisi.1522737.
JAMA İzmen Ü, Özel S. The Return of the State and Its Alla Turca Version. uidergisi. 2024;21:5–23.
MLA İzmen, Ümit and Soli Özel. “The Return of the State and Its Alla Turca Version”. Uluslararası İlişkiler Dergisi, vol. 21, no. 83, 2024, pp. 5-23, doi:10.33458/uidergisi.1522737.
Vancouver İzmen Ü, Özel S. The Return of the State and Its Alla Turca Version. uidergisi. 2024;21(83):5-23.