Independent and cutting-edge analysis on Turkey and its neighborhood

The Road to Economic Recovery on the Region, Summer 2009

The Road to Economic Recovery on the Region, Summer 2009

In early October, the World Bank and International Monetary Fund will hold their annual meeting in Istanbul. This issue of TPQ explores the impact of the global financial crisis on Turkey and its neighbors to the east and the west. Authors offer ideas and analysis on the policies currently in place to overcome current economic challenges, as well as to prevent those in the future. As world financial leaders, bureaucrats, politicians, businesspeople and NGO communities convene in Istanbul, we...

Nigâr Göksel | 05 September 2009

A New '' Istanbul Consensus'', Summer 2009

A New '' Istanbul Consensus'', Summer 2009

This paper looks at the significance of Istanbul as host of the October Governors’ meeting of the World Bank Group. This meeting in part reflects Istanbul’s growing importance as a global financial node but also suggests a shifting balance of power towards emerging markets. Istanbul will be an occasion to consider the interdependence of global finance much in the way that December’s summit on climate change in Copenhagen will consider the issue of shared responsibility for...

Suzan Sabancı Dincer | 05 September 2009

Concerted Global Action is Needed to Bolster Recovery Efforts, Summer 2009

Concerted Global Action is Needed to Bolster Recovery Efforts, Summer 2009

The World Bank Group is honored to hold our meetings in Istanbul the world’s only metropolis that sits astride two continents, exemplifies rich diversity, and is already a leader in the region and increasingly in the world and we are grateful to the Turkish people for their world class hospitality. During the Annual Meetings in Istanbul this October, officials and constituents of our 186 member countries will gather to discuss our shared work at promoting sustainable development and...

Marwan Muasher | 05 September 2009

Plan B: The Great Mobilization, Summer 2009

Plan B: The Great Mobilization, Summer 2009

The choice is ours – yours and mine. We can stay with business as usual and preside over an economy that continues to destroy its natural support systems until it destroys itself, or we can adopt Plan B and be the generation that changes direction, moving the world onto a path of sustained progress. The choice will be made by our generation, but it will affect life on earth for all enerations to come.  

Lester R. Brown | 05 September 2009

Interview with Mark Mobius- Economic Forecast, Summer 2009

Interview with Mark Mobius- Economic Forecast, Summer 2009

In this exclusive interview for TPQ, renowned global investor and emerging markets fund manager Mark Mobius shares his perspectives on the impact of the global financial crisis on emerging markets and sectors, with an emphasis on Turkey and Turkey’s prospects.  

H. Kaan Nazli | 05 September 2009

Neither Home - Nor Dry": Confronting the Economic and Financial Sector Crises in Southeastern Europe, Summer 2009

Neither Home - Nor Dry

Comparative precedents to this economic meltdown differ considerably between what was once called “the West” and “the East”. For countries in Western Europe the point of reference most prominently associated with the recent developments is the Great Depression of 1929. But for former Comecon member countries the historical parallel does not date back that far. Rather it is found in and compared with the collapse of Communism and the initial experiences of economic...

Jens Bastian | 05 September 2009

Bulgaria's Quest to Meet the Environmental Acquis: A Case Study of the Transformative Power of the EU, Summer 2009

Bulgaria's Quest to Meet the Environmental Acquis: A Case Study of the Transformative Power of the EU, Summer 2009

Taking Bulgaria as an example, this article examines how the EU accession process transforms a key policy area – the environmental sector. Starting with a disastrous legacy and very weak institutions ten years ago, Bulgaria’s environmental policies have been dramatically transformed in the decade preceding the country’s EU accession in 2007. Although a number of the problems have not been (fully) overcome yet, Bulgaria now has the institutions and policy tools in place to...

Kristof Bender | 05 September 2009

Mobilizing Traditional Afghan Skills and Perceptions to Increase Rural Development and Security, Summer 2009

Mobilizing Traditional Afghan Skills and Perceptions to Increase Rural Development and Security, Summer 2009

Afghanistan’s political methods and skills are born out of a perception that almost everyone possesses very limited opportunities and resources, and that perception produces a political culture that one must do whatever it takes to survive. That culture of “amoral familism” ironically offers almost unlimited opportunities for individuals to make a deal about almost anything. So, the question remains: Will the Afghan leaders be able to use their traditional skills to manage the...

Bob Spencer & Armando Geller | 05 September 2009

Impact of the World Crisis on the Economy of the Kyrgyz Republic, Summer 2009

Impact of the World Crisis on the Economy of the Kyrgyz Republic, Summer 2009

For the first time, risks and threats resulting from the negative impact of the world crisis on the economy of the Kyrgyz Republic (KR) were mentioned in the statement of the KR President in January 2008. Among those mentioned were reducing liquidity and increased costs of resources in the international financial system, a noticeable decrease in aggregate demand and global trade, increasing uncertainty and lack of trust experienced in 2008. Alongside these factors the Republic’s economy...

Azamat Dikambaev | 05 September 2009

The Global Financial Crisis: Impact on Armenia, Summer 2009

The Global Financial Crisis: Impact on Armenia, Summer 2009

The Armenian economy had already been hit hard by the Russian Georgian war in August 2008 when the global financial crisis developed. Despite being protected by a strong banking system, the country experienced significant economic downturn. One of the reasons for this was the drop of remittances from Russia. This article describes these dynamics while also analyzing the government bailout program and investment plans.

Samvel Avagyan | 05 September 2009

The Global Economic Crisis and Azerbaijan, Summer 2009

The Global Economic Crisis and Azerbaijan, Summer 2009

This article explores the impact of the global financial crisis on state policies, household incomes, the business environment and financial institutions of Azerbaijan. Providing an overview of Azerbaijan’s economic basics as a background, the article compares current growth figures with the projections made before the crisis, evaluates the current government policies and makes recommendations for the future.  

Elshad Mikayilov | 05 September 2009

Economic Policy in Georgia: Liberalization, Economic Crisis and Changes, Summer 2009

Economic Policy in Georgia: Liberalization, Economic Crisis and Changes, Summer 2009

The new Georgian government embarked on a liberal economic policy. Tax laws have been simplified, the variety of licenses and permits has been reduced and procedures were simplified. The country started a massive privatization process and investment in infrastructure. The reforms carried out by the government ensured the growth of both economic and investment streams. However, as a result of the Russian aggression in August 2008 and due to the economic crisis, economic activity in Georgia has...

Davit Narmania | 05 September 2009

Armenia and the Tremors of the Crisis, Summer 2009

Armenia and the Tremors of the Crisis, Summer 2009

The article discusses the impact of the global financial crisis on the Armenian economy. It outlines the factors which allowed Armenia to largely surpass the direct impact of the global financial crisis. The slowdown of the Armenian economy was caused mostly by the decline in remittances from Russia, shrinking of the construction sector and reduced FDI inflows. As a result, Armenia increased its external debt, requesting assistance from Russia, the Asian Development Bank, IMF and World Bank....

Meri Yeranosyan | 05 September 2009

Turkey Towards a New Development Path? Global Climate Change and Development Policies, Summer 2009

Turkey Towards a New Development Path? Global Climate Change and Development Policies, Summer 2009

Development concerns always stand at the heart of international environmental cooperation. Yet sometimes misguided development plans and priorities might hinder future development and create unprecedented environmental challenges. Though some of the impacts of climate change are already visible and to a larger extent affect developing countries, adaptation and mitigation sometimes lag behind scientific evidence and projection. Mainstreaming climate policies into development planning is...

Rana Izci | 05 September 2009

The Turkish Delight, Summer 2009

The Turkish Delight, Summer 2009

Taking into account all legal changes in the mining sector together with the environmental regulations since 1980s, one can say Turkey’s attitude towards the transnational mining business has been favorable. The necessity to abide by the international environmental regulations, particularly the EU acquis has stimulated the introduction of environmental concerns into economic enterprises, including the mining sector. Collaboration between the state and mining lobby in raising...

Irem Kok | 05 September 2009

Women in Azerbaijan: Democracy versus Energy, Summer 2009

Women in Azerbaijan: Democracy versus Energy, Summer 2009

Pointing out that Western economies have a strong interest in the region’s oil and gas resources, this article points out that current developments in Azerbaijan suggest that energy is being bought at the cost of Western principles and values. In light of recent developments that suggest deterioration of Azerbaijan’s democratic credentials, this article argues that the women in Azerbaijan’s civil society should be supported more in their struggle for democracy. It also makes the point that...

Kristin Mette | 05 September 2009

Doing Business 2010 - Turkey Within a Regional Context: A Snapshot, Summer 2009

Doing Business 2010 - Turkey Within a Regional Context: A Snapshot, Summer 2009

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Cemile Hacibeyoglu | 05 September 2009

From the Desk of the Editor Over the last couple of years, Turkey has weathered multiples storms in close succession: two general elections that took place in a polarized political climate, an escalation of the Turkey-PKK conflict, a crisis with Russia, the 2016 failed coup attempt followed by state of emergency measures, and the continued threat of terrorist attacks. The aftermath of the constitutional referendum in April...
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