KOÇ UNIVERSITY COLLEGE OF ADMINISTRATIVE SCIENCES AND ECONOMICS DEPARTMENT OF INTERNATIONAL RELATIONS

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1 KOÇ UNIVERSITY COLLEGE OF ADMINISTRATIVE SCIENCES AND ECONOMICS DEPARTMENT OF INTERNATIONAL RELATIONS INTL 410/ECON 481 TURKISH ECONOMY I [Section II] Spring 2012 Instructor: Professor Ziya ÖNİŞ Time: Tuesday & Thursday Place: TBA Office: CAS 150 Office Hours: Monday 11:00-12:00 [or by appointment] Phone: (0212) zonis@ku.edu.tr TAs: Mustafa KUTLAY mkutlay@ku.edu.tr DESCRIPTION This course offers an advanced introduction to the dynamics and some enduring problems of the Turkish economy from a political economy perspective. It is divided into three parts: Part I begins with an historical overview of the major policy phases of the Turkish economy from the early 20 th century onward. We then focus on Turkey s crisis-ridden process of market transition over the past three decades by exploring the country s relations with international organizations such as the IMF, its dynamic integration with the global economy, and efforts toward substantive restructuring since the devastating crisis of Part II discusses Turkey s international economic relations with particular emphasis on its troubled path toward EU integration, its evolving relations with Russia, and the recently enhanced economic and political role it plays in the Middle East. Part III is devoted to social implications of Turkey s economic development. It first looks at changing state-business relations by focusing on the emergence of new elite groups. It then diverts attention to some pressing problems for popular interests such as poverty, unemployment, and income equality. 1

2 TEXTS There is no text-book for the course. All required readings for the course (which include journal articles and book chapters) are listed in this syllabus. All readings are available to students at the Reserve Collection of the Suna Kıraç Library. Some journal articles are also accessible online through the library website. Any additional readings will be made available under KUAIS > Courseware. REQUIREMENTS Midterm 25% DATE TBA Research Essay 25% DUE DATE TBA Final Exam 40% DATE TBA Attendance and Participation 10% 5% for attendance; 5% for participation ***There will not be lectures on the spring break, April 9-13, 2012*** SCHEDULE PART I EVOLUTION, DYNAMICS AND CONTEMPORARY TRENDS Major Policy Phases of the Turkish Economy: Historical and Comparative Perspectives Öniş, Z. (2010). Crises and Transformation in Turkish Political Economy. Turkish Policy Quarterly, Vol. 9, No. 3. Bakır, C. (2007). Merkezdeki Banka: Türkiye Cumhuriyet Merkez Bankası ve Uluslararası Bir Karşılaştırma. pp Altunbas, Y. Kara, A. and Olgu O. (2009). Turkish Banking. Banking under Political Instability and Chronic High Inflation chp.2. Boratav, K. (2007). Türkiye İktisat Tarihi , İmge Kitabevi, chs Pamuk, Ş. (2008). Economic Change in Twentieth Century. Is the Glass More than Half Full?, in R. Kasaba (ed.), Turkey in the Modern World. Öniş, Z and F. Şenses. (2007). Global Dynamics, Domestic Coalitions and a Reactive State: Major Policy Shifts in Post-War Turkish Economic Development, METU Studies in Development, Ankara. 2

3 Öniş, Z and F. Şenses. (2009). Chapter 1: The New Phase of Neo-liberal Restructuring in Turkey: an Overview, and Chapter 15: Towards a Synthesis and the Challenges Ahead in Öniş and Şenses (eds.), Turkey and the Global Economy. Öniş, Z. (2004). Turgut Özal and His Economic Legacy: Turkish Neo-Liberalism in Critical Perspective, Middle Eastern Studies, vol. 40, no. 4. Turkish Political Economy since 1990: Crises and Relations with the IMF Cizre-Sakallıoğlu, Ü and E. Yeldan. (2000). Politics, Society and Liberalization: Turkey in the 1990s, Development and Change, Vol. 31, No.2. Yeldan, E. (2006). Neoliberal Global Remedies: Speculative-led growth to IMF-led crisis in Turkey, Review of Radical Political Economics, Vol. 38, No.2. Akyüz, Y and K. Boratav. (2003). The Making of the Turkish Financial Crises, World Development, Vol. 31, No. 9. Öniş, Z. (2006). Varieties and Crises of Neo-liberal Globalization: Argentina, Turkey and the IMF, Third World Quarterly, Vol. 27, No.2. Öniş, Z. (2009). Beyond the 2001 Financial Crisis: The Political Economy of the New Phase of Neo-liberal Restructuring in Turkey, Review of International Political Economy, Vol. 16, No. 3. Bakır, C. (2009). Wobbling but still on its feet: the Turkish Economy in the Global Financial Crisis, South European Society and Politics, vol. 14, March Öniş, Z. and Güven, A. B. (2011). Global Crisis, National Responses: The Political Economy of Delay and Divergence in Turkey, New Political Economy (forthcoming). Boratav, K. (2007). Türkiye İktisat Tarihi , İmge Kitabevi, chs Yeldan, E. (2004). Küreselleşme Sürecinde Türkiye Ekonomisi: Bölüşüm, Birikim ve Büyüme, İletişim Yayınları, Part 2 and Part 5. Neo-Liberal Reforms: Banking and its Regulation, Privatization Bakır, C. and Öniş, Z (2010) The Regulatory State and Turkish Banking Sector Reforms in the Age of Post-Washington Consensus, Development and Change, Vol. 41, no.1. Altunbas, Y. Kara, A. and Olgu O. (2009). Turkish Banking. Banking under Political Instability and Chronic High Inflation, chps. 3 and 4. Bakır, C. (2007). Merkezdeki Banka: Türkiye Cumhuriyet Merkez Bankası ve Uluslararası Bir Karşılaştırma, pp Bakır, C. (2006). Governance by Supranational Interdependence: Domestic Policy Change in the Turkish Financial Services Industry in Jonathan Batten and Colm Kearney eds., Emerging European Financial Markets: Independence and Integration Post- Enlargement. London: Elsevier, pp Akin, G., A. F. Aysan and L. Yildiran. (2009). Transformation of the Turkish Financial Sector in the aftermath of the 2001 Crisis in Öniş and Şenses (eds.), Turkey and the Global Economy. 3

4 Tüker, A, M. Üçer and C. Van Rijckeghem. (2006). The Banking Sector, From Crisis to Maturation, in (L) S. Altug and A. Filiztekin (eds.), The Turkish Economy, Routledge. Ercan, M. and Öniş, Z. (2001). Turkish Privatization: Institutions and Dilemmas Turkish Studies, Vol. 2, No. 1. Atiyas, İ. (2009). Recent Privatization Experience of Turkey: a Reappraisal in Öniş and Şenses (eds.), Turkey and the Global Economy. Ökten, Ç. (2006). Privatization in Turkey: What has been achieved?, in S. Altuğ and A. Filiztekin (eds.), The Turkish Economy, Routledge. Zenginobuz, Ü. (2008). On Regulatory Agencies in Turkey and Their Independence, Turkish Studies, Vol. 9.!!! MIDTERM EXAM: DATE TO BE ANNOUNCED!!! PART II TURKEY S FOREIGN ECONOMIC RELATIONS The Political Economy of EU Integration Tocci, N. (2005). Europeanization in Turkey: Trigger or Anchor for Reform, South European Society and Politics, vol. 10, no.1. Derviş, K, M. Emerson, D. Gros and S. Ülgen. (2004). The Economics of Turkey s Candidacy, in European Transformation of Modern Turkey, pp İzmen, Ü. and K. Yılmaz. (2009). Turkey's Recent Trade and Foreign Direct Investment Performance in Öniş, Z. and F. Şenses (eds.) Turkey and Global Economy. (London: Routledge). Öniş, Z. (2008). Turkey-EU Relations: Beyond the Current Stalemate, Insight Turkey, Vol. 10, no. 4. Yılmaz, K. (2011). The EU Turkey Customs Union Fifteen Years Later: Better, Yet not the Best Alternative, South European Society and Politics, Vol. 16, No. 2, pp Undersecreteriat of Treasury Foreign Direct Investments in Turkey. Turkey in the Regional Economy: The Political Economy of Turkish-Russian Relations and Turkey s Emerging Role in the Middle East Öniş, Z and Ş. Yılmaz. (2009). Between Europeanization and Euro-Asianism: Foreign Policy Activism in Turkey during the AKP Era, Turkish Studies, Vol. 10, No.1. Balcer, A. (2009). The Future of Turkish-Russian Relations: A Strategic Perspective, Turkish Policy Quarterly (Spring). Saivetz, C. (2009). Tangled Pipelines: Turkey s Role in Energy Export Plans, Turkish Studies, Vol. 10, No.1. 4

5 Altunışık, M. (2008). The Possibilities and Limits of Turkey s Soft Power in the Middle East, Insight Turkey, Vol. 10. No.2. PART III SOCIAL DIMENSIONS OF ECONOMIC DEVELOPMENT The Rise of New Economic Elites Pamuk, Ş. (2009). Globalization, Industrialization and Changing Politics in Turkey, New Perspectives on Turkey, No. 38. O. Demir, M. Acar and M. Toprak. (2004) Anatolian Tigers or Islamic Capital: Prospects and Challenges, Middle Eastern Studies, vol. 40. Öniş, Z. (2006). Globalization and Party Transformation: Turkey s Justice and Development Party in Perspective, P. Burnell (ed.), Globalizing Politics, Party Politics in Emerging Democracies, London. Poverty, Unemployment and Income Distribution Şenses, F. (2008). Missing Links in Poverty Analysis in the Age of Neoliberal Globalization: Some Lessons from Turkey, New Perspectives on Turkey, 38. Yükseker, D. (2009). Neoliberalism and Social Exclusion in Turkey in Öniş,. and Şenses (eds.) Turkey and Global Economy. (London: Routledge). Aydin, Z. (2009). De-agrarianization and De-peasantization: Dilemmas of Neo-liberal Restructuring in Turkish Agriculture in Öniş and Şenses (eds.), Turkey and the Global Economy. Onaran, Ö. (2009). Crises and post-crisis Adjustment in Turkey, Implications for Labor, in Öniş and Şenses (eds.), Turkey and the Global Economy, 2009, pp Buğra, A. and Ç. Keyder. (2006). The Turkish Welfare Regime in Transformation, Journal of European Social Policy, Vol. 16. COURSE POLICIES 1. Make-Up Exams: Students who miss an exam and wish to write a make-up must contact the professor within 24 hours after the exam and must provide proper documentation for a reasonable excuse (e.g. a doctor s note) before the make-up. There will be only one make-up per exam. Students who miss both the regular exam and the make-up will receive an exam mark of Classroom Conduct: Students must attend lectures on time, and remain in the classroom until the end of the lecture, except during emergencies or with prior permission of the instructor. Students are expected to behave as mature and self-aware individuals in the classroom. Disruptive behaviour such as engaging in side conversations, using cell phones and other electronic devices, sleeping, working on personal activities or assignments of other courses, interrupting the professor or other students will result in the significant reduction of the attendance and participation grade. 5

6 3. Academic Honesty: Honesty and trust are important to us all as individuals. Students and faculty adhere to the following principles of academic integrity at Koç University. (i) Individual accountability for all individual work, written or oral. Copying from others or providing answers or information, written or oral, to others is cheating. (ii) Providing proper acknowledgment of original author. Copying from another student s paper or from another text without written acknowledgment is plagiarism. Recycling a paper written for another class also falls under this category. (iii) Study or project group activity is effective and authorized teamwork. Unauthorized help from another person or having someone else to write one s paper or assignment is collusion. Cheating, plagiarism, and collusion are serious offences resulting in an F as your course grade and disciplinary action. 6