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1. The political economy of the transformation of Islamic finance in Turkey

Author:
SETA
Publication Date:
01-2017
Content Type:
Special Report
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
When Islamic finance is mentioned around the world, the first thing that comes to mind is Islamic banks. The sphere of Islamic finance has expanded in the last decade with developments particularly in capital markets and the insurance sector. Nonetheless, the market share of Islamic finance in the world’s financial market accounts for approximately 1 percent. Still, many segments are interested in Islamic finance because of its high growth figures, resilience against crises, and the fact that it offers a system that prioritizes ethical values in contrast to conventional finance. Islamic banks in Turkey date back to the establishment of the Adapazarı Islamic Trade Bank (Adapazarı İslam Ticaret Bankası) in Sakarya (Adapazarı) in 1913. However, examples of globally accepted Islamic banking models in Turkey appeared with the emergence of Special Finance Houses (SFHs) following the passage of relevant legal regulations in 1984
Topic:
International Political Economy and International Affairs
Political Geography:
Global Markets

2. Turkish Policy toward Central Asia

Author:
Bülent Aras
Publication Date:
04-2008
Content Type:
Policy Brief
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
After the collapse of the Soviet Union, a Turkish world from the “Adriatic Sea to the Chinese Wall” became a new topic of discussion in Turkish policy circles. While Turkey tried to develop close political, economic and cultural relations with the newly independent Central Asian Republics, the mid and late 1990s witnessed a steady decline in the relations and failed to produce any concrete results. With its new foreign policy outlook, Turkey is seeking to increase its field of sphere in Central Asia by revitalizing its efforts to reconnect with the sister Turkish states. Security, economic cooperation, energy and civil society initiatives are the new dynamics of the Turkish- Central Asian relations
Topic:
International Relations and International Political Economy
Political Geography:
Central Asia, Turkey, and Middle East

3. Does Turkey Need a New Standby Agreement?

Author:
Erdal T. Karagöl
Publication Date:
03-2008
Content Type:
Policy Brief
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
Since 1960, nineteen Standby arrangements have been signed. With these agreements, significant progress has been made in Turkish economy: inflation has fallen to the lowest level since 1986, the public debtto- GNP ratio has been falling, and interest rates have declined rapidly. IMF's immediate goals concern exchange rate stability and balance of payments, and evaluations of IMF programs tend to concentrate on these two objectives. Yet, whether or not the IMF programs have positive effects on these short-term goals, what ultimately matters is that they induce economic growth and do not concentrate on incomes.
Topic:
Economics, International Organization, and International Political Economy
Political Geography:
Turkey and Middle East

4. Turkey and Northern Iraq on the Course of Raprochement

Author:
Aylin S. Gorener
Publication Date:
06-2008
Content Type:
Policy Brief
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
Perhaps the most consequential and drastic decision in Turkish foreign policy in recent months was to engage in direct negotiations with Kurdish Regional Government in northern Iraq. This is significant because, since the onset of Iraq War in 2003, Turkey has sought to ignore or marginalize Iraqi Kurds, and has refrained from all acts that could be viewed as concessions or de facto recognition. Although the Iraqi Kurdish leadership has received red-carpet ceremony in Ankara in the1990s, Turkish foreign policy toward northern Iraq, since the war, has been stymied by anxiety and emotional rhetoric. Indeed, the fear of Iraq's disintegration and the rise of an independent Kurdish enclave in the north, inspiring or even assisting separatist sentiments in Turkey, have appeared to cloud the possibility of rational evaluation of the pros and cons of policy alternatives. As a result, the policy of projecting illegitimacy to the Kurdish Regional Government has cost Turkey a significant loss of clout not only in northern Iraq but also in the wider Iraqi political affairs, as Kurds have come to occupy significant positions in the central government as well.
Topic:
Government, International Political Economy, and War
Political Geography:
Iraq, Turkey, and Middle East

5. Hard Power, Soft Power: Towards a More Realistic Power Analysis

Author:
Pınar Bilgin and Berivan Eliş
Publication Date:
04-2008
Content Type:
Journal Article
Journal:
Insight Turkey
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
This article builds on the insights of critical approaches to the study of power and seeks to lay bare the poverty of power analysis in mainstream International Relations (IR). Part I presents a critical account of prevalent conceptions of 'hard power' in mainstream studies informed by realist IR and maintains that realism's power analysis is rather unrealistic insofar as it over-privileges material forms of power and focuses on the visible dimension of power relations to the neglect of the multiple (visible and non-visible) processes through which power is produced and expressed. Part II scrutinizes the concept of 'soft power'. While Nye's soft power analysis complements realist IR by highlighting non-material forms of power and looking at non-visible forms of power relations, it, too, remains shallow insofar as the production and various expressions of 'attraction' remain unaccounted for. Presenting more realistic accounts of the work power does in world politics requires following Lukes' footsteps to produce three- (if not four-) dimensional power analyses.
Topic:
International Relations and International Political Economy
Political Geography:
Turkey

6. Turkey's Potential as a Soft Power: A Call for Conceptual Clarity

Author:
Kim Beng Phar
Publication Date:
04-2008
Content Type:
Journal Article
Journal:
Insight Turkey
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
Soft power is based on attraction and the ability to persuade others to further one's goals. The key sources of soft power are said to derive from one's culture, democratic political system, and fair-minded foreign policy. Yet it is often left unsaid that soft power is a Weberian archetype. All the three of the above sources are ideal types; they may not necessarily exist in complete forms, because one's culture, political system and foreign policy are all subject to flaws, weaknesses and gaps. In order for Turkey to project its soft power in turbulent neighborhoods like the Middle East and Central Asia, and indeed as a matter of strategic policy in general, it is vital to have a strong conceptual clarity first. Only then can soft power be applied by going beyond attraction and persuasion purely. Home grown reforms that are strong, ethical, and sustainable, for example, can be sources of appeal and attraction to the Middle East and Central Asia too, given that both regions long to see good governance and exemplary leadership.
Topic:
International Political Economy
Political Geography:
Russia, Turkey, and Asia

7. The Possibilities and Limits of Turkey's Soft Power in the Middle East

Author:
Meliha Benli Altunisik
Publication Date:
04-2008
Content Type:
Journal Article
Journal:
Insight Turkey
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
Turkey has been traditionally viewed mostly as a hard power in the Middle East, due to its military and economic strength. In recent years, however, there has been a discussion on Turkey's soft power. This article focuses on two aspects of Turkey's soft power in the region. First, Turkey's relevance to the debate on political and economic reform is discussed. It is argued that because of Turkey's internal transformations its attractiveness has increased. In addition to having assets, Turkey is generally more willing to project soft power as well as having increasing credibility in the region. Second, the article focuses on Turkey's use of soft power tools, especially its eagerness to play third party roles in the management and resolution of regional conflicts. Turkey's roles in the Israeli-Syrian, Israeli Palestinian and Lebanese conflicts are considered as an example. The article argues that Turkey's soft power has increased in these two aspects and yet it also elaborates on existing and possible constraints in this regard.
Topic:
Conflict Resolution and International Political Economy
Political Geography:
Turkey and Middle East

8. A New Power Play in the Balkans: Kosovo's Independence

Author:
Enika Abazi
Publication Date:
04-2008
Content Type:
Journal Article
Journal:
Insight Turkey
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
This article discusses Kosovo's independence from a framework of political and legal perspectives and assesses regional and global responses to the declaration of independence. Kosovo's independence, it is argued, has revealed shifting strategic landscapes, security concerns and domestic developments in regional and international politics with significant implications for all actors in the region. Russia, for instance, calculated to restore its lost 'superpower' status and control Serbia's strategic oil industries while Turkey's prompt recognition of independence has increased its impact in the region. Kosovo's independence will be a test case for keeping peace and stability in the Balkans within the new dynamics of regional and international politics. The way to escape from regional and international rivalries in Kosovo and its environs is to enhance the forces of cooperation in this volatile region and avoid zero sum games among regional and international actors.
Topic:
International Relations, International Political Economy, and Oil
Political Geography:
Russia, Turkey, Kosovo, and Balkans

9. Russia's Presidential Transition: Implications for Turkey and the Black Sea Region

Author:
Alexandros Petersen
Publication Date:
04-2008
Content Type:
Journal Article
Journal:
Insight Turkey
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
Russia's new president, Dmitry Medvedev, should be expected to broadly continue his predecessor Vladimir Putin's foreign policy toward Turkey and the broader Black Sea region. Analysts who cast Medvedev as a mere Putin puppet, or those who anticipate a gradual increase in power for the new man in the Kremlin miss the crucial question about decision-making in Russia: how much influence will the siloviki – current and former security service officers – wield to implement policies based largely on mistrust and calculation? Russia's policies in the Black Sea region are unlikely to change much in substance, although Medvedev may adopt a more subtle, effective style in seeing them through. Their exclusionary nature - a product of the silovik worldview - should be expected to continue. Therefore, despite recent significant improvements in Turkey's relations with Russia, over time Turkey may find itself in an uncomfortable middle ground between its Western allies and its new-found friends in Moscow.
Topic:
International Relations and International Political Economy
Political Geography:
Russia and Turkey

10. Saakashvili Pulled the Trigger: Turkey between Russia and Georgia

Author:
Hasan Ali Karasar
Publication Date:
08-2008
Content Type:
Policy Brief
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
Turkey has been involved, historically and demographically, with many of the regions of “frozen conflict” in post-Soviet space. At this point, one might consider the position of Turkey as being at the epicenter of Euro-Atlantic and Russian extremes concerning the frozen conflicts. Georgia, since 1991, has been considered a valuable “strategic partner” by Turkey for several reasons. Turkish Prime Minister Tayyip Erdogan's Caucasus Pact idea is a good opportunity to create an inclusive (Russia, Turkey, Georgia, Armenia, and Azerbaijan) new foreign policy approach at this stage. This approach should be merged with the representation of all the frozen or unfrozen conflict areas, peoples, ethnic groups and regions included under the roof of such an alliance.
Topic:
NATO and International Political Economy
Political Geography:
Russia, United States, Europe, Turkey, Middle East, Asia, Armenia, Azerbaijan, and Georgia