THE IMPACTS OF LIBERAL POLICIES TO BANKING SECTOR IN THE TURKEY (1847–1979)

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Liberal paradigm has prevailed in the Ottoman Empire since 1830, however, general economic structure was affected negatively by liberal policies, and subsequently the first bank was established in 1847. With the proclamation of the Republic, in the context of policies that implemented in order to place economic formation to dominate market conditions in Turkey, Turkish İș Bank which is an example of national private sector banking was established in 1924. After the Second World War once again there was a liberalization seeking and the effects of this liberal conjuncture showed itself by establishing many privately invested national banks. Both 24 January 1980 economic decisions that were accepted as the birth of liberal conjuncture in Turkey and the existing financial liberalization policies after this economic decisions provided suitable environment for expanding private and foreign banks.

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Liberal Politics , Banking in the Ottoman

Ege Academic Review (EAR)

350

Ege Academic Review (EAR)