By Tamer Çetin, Fuat Oğuz
The Political financial system of law in Turkey brings jointly top overseas students and specialists on Turkey and regulatory reform to supply crucial info at the fresh Turkish event and its relation to pageant coverage. After the 1980 liberalization reform, Turkey attempted to introduce pageant in lots of industries, yet community industries have remained as monopolies. on the finish of the Nineties, regulatory reform was once initiated and self reliant regulatory enterprises were confirmed by means of the govt.. accomplished discussions of those community industries, specifically airways, electrical energy, common gasoline, telecommunications and atmosphere laws, are provided. The individuals inquire how financial idea and old analyses can enlighten the nature of industry procedures and the position for presidency motion in those industries, and the contributions make clear the very contemporary alterations within the regulatory constitution and critical felony circumstances that form the way forward for regulated industries. This e-book discusses those matters in a global standpoint and relates the Turkish event to different related nations, comparable to in jap Europe and important the US. This booklet serves as an invaluable consultant to those that are looking to comprehend significant alterations in Turkey and regulatory reforms in different rising markets, making it of curiosity to researchers and PhD scholars interested by regulatory economics, the Turkish economic system, and fiscal coverage in rising markets.
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Example text
Tr T. Çetin and F. C. Güran privatization in Turkey, and the legal, institutional, economic, and political factors that affect the pace of privatization will be investigated. The conclusion with a discussion of the findings will complete the study. 2 Historical Background The rise of state ownership in Western Europe can be correlated particularly to three waves of nationalizations that occurred: after the Great Depression of 1929–1933, during the post-World War II period, and after the oil crises in the 1970s (Bortolotti and Milella 2008).
Within this framework, the measures taken of the stability program can be summarized as follows: Foreign currency control was abandoned, the Turkish Lira was devalued and the foreign currency rates were determined daily and based on 10 For a study on the positive and negative effects of Özal’s post-1980 economic transformation, see Öniş (2004: 113–134). 3 The Political Economy of Privatization in Turkey: An Evaluation 33 the market. The prices of commodities produced by the public sector were raised substantially.
C. 1 Institutional and Legal Factors It is not possible to say that during the implementation of privatization policies in Turkey a legally and administratively well-defined framework was formed. The legal and institutional defects that appeared over time were amended as the process continued, which caused problems in the pace and the effectiveness of privatization practices. Basically, a legal framework for privatization is necessary to regulate and define the government’s objectives, to establish commitment to the privatization process, to make amendments to existing laws which otherwise would be an obstacle to privatization, for example, laws preventing private sector participation in what were previously considered “strategic” activities, to create institutions with the authority to implement privatization, to avoid spontaneous or unauthorized privatization, to allow for the financial restructuring of enterprises prior to sale, deferred or swapped for equity, to define the methods of privatization and any limitations on potential bidders, and to provide for the allocation of sale proceeds (UNESCAP 2001).