The role of development banking in promoting industrialization in Turkey

Hüseyin Öztürk, Derya Gültekin-Karakaş, Mehtap Hisarciklilar

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Abstract

Development banks are influential institutions in financing development. Since their establishment back in the 19th century, development banks have played a leading role in supporting development in many countries. Despite the liberalization process of the 1980s and 1990s, development banks have continued to play an active role in financing development in the case of many countries. In the Turkish case, the performance of development banking in supporting development has varied over time. However, one feature has remained constant: development and investment credits did not contribute to the alleviation of regional imbalances even during the period of import substituting industrialization from the 1960s to 1979. Moreover, total fixed capital investments, which are the raison d’être for development banking in Turkey, have been mainly financed by commercial banks. Given the severe recession in the global economy, the development banks in Turkey may play a leading role in financing industrial and social projects.
Original languageEnglish
Pages (from-to)153-178
Number of pages26
JournalRegion et Developpement
Volume32
Publication statusPublished - 2010

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Keywords

  • Institutions and growth
  • Development bank
  • Turkey
  • Regional development

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