80 results on '"Kutlay, Mustafa"'
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2. The Return of Industrial Policy after the Global Financial Crisis
- Author
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Toksöz, Mina, author, Kutlay, Mustafa, author, and Hale, William, author
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- 2023
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3. Conclusion: Rethinking Industrial Policy
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Toksöz, Mina, author, Kutlay, Mustafa, author, and Hale, William, author
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- 2023
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4. The Political Economy of Industrial Policy
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Toksöz, Mina, author, Kutlay, Mustafa, author, and Hale, William, author
- Published
- 2023
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5. Introduction The Road (Not) Taken
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Toksöz, Mina, author, Kutlay, Mustafa, author, and Hale, William, author
- Published
- 2023
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6. Industrial Policy in Retreat, 2001–9
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Toksöz, Mina, author, Kutlay, Mustafa, author, and Hale, William, author
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- 2023
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7. Industrial Policy Demoted, 1980–2000
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Toksöz, Mina, author, Kutlay, Mustafa, author, and Hale, William, author
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- 2023
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8. Turkey’s Industrialisation: The Historical Experience, 1923–80
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Toksöz, Mina, author, Kutlay, Mustafa, author, and Hale, William, author
- Published
- 2023
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- View/download PDF
9. The New Age of Hybridity and Clash of Norms : China, BRICS, and Challenges of Global Governance in a Postliberal International Order
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Öniş, Ziya and Kutlay, Mustafa
- Published
- 2020
10. State capacity and populist rule in times of uncertainty: COVID-19 response in South Korea, Brazil, and Turkey.
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Aydın-Düzgit, Senem, Kutlay, Mustafa, and Fuat Keyman, E.
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COVID-19 pandemic , *PERFORMANCE management , *PANDEMICS - Abstract
In an age of 'radical uncertainty,' state capacity proves critical for countries to contain 'wicked crises' and improve the resilience of societies. At the same time, authoritarian populism has come to dominate politics in several countries. The impact of populist leadership on state capacity, however, remains an under-researched theme. We explore how populist rule has impeded effective management of the COVID-19 pandemic by weakening state capacity. We compare Brazil and Turkey as cases with similar degrees of state capacity but diverging pandemic management performance. We also examine South Korea as a benchmark case combining high state capacity and effective leadership. We show that state capacity is central in managing 'wicked crises,' but populist leadership undermines it through a set of mechanisms. On a broader scale, we aim to contribute to the debate by exploring the interactions among crises, state capacity, and populist rule. [ABSTRACT FROM AUTHOR]
- Published
- 2024
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11. Governance crises and resilience of authoritarian populism: 2023 Turkish elections from the perspective of Hirschman's 'exit, voice, and loyalty'.
- Author
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Kutlay, Mustafa and Öniş, Ziya
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LOYALTY , *ELECTIONS , *NATURAL disasters , *CRISES , *HUMAN voice , *TURKS , *VOTER turnout - Abstract
The May 2023 elections in Turkey are puzzling because public support for President Erdoğan did not erode despite political-economic failures of considerable magnitude. The economy was ailing, the government's performance in containing natural disasters was dismal, and oscillations in foreign policy were perplexing. Yet, Erdoğan managed to win elections once again, giving him the mandate to continue ruling the country over the next five years. What explains this political outcome in the face of 'multiple governance crises'? We adopt Albert O. Hirschman's 'exit, voice, and loyalty' framework to explain the multiple but interrelated sources of the resilience of authoritarian populism in Turkey. We suggest the 'exit, voice, and loyalty' equilibrium in the 2023 Turkish elections requires an integrated analysis along two dimensions, each interacting with and mutually reinforcing the other: the economy-identity nexus and the domestic-external nexus. [ABSTRACT FROM AUTHOR]
- Published
- 2024
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12. A Critical Juncture: Russia, Ukraine and the Global South.
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Kutlay, Mustafa and Öniş, Ziya
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RUSSIAN invasion of Ukraine, 2022- , *COVID-19 pandemic , *RIGHT-wing populism , *GEOPOLITICS ,DEVELOPING countries - Published
- 2024
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13. How Erdoğan Rules Through Crisis.
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Aydın-Düzgit, Senem, Kutlay, Mustafa, and Keyman, E. Fuat
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PSYCHOLOGICAL resilience , *POPULISM , *ECONOMICS - Abstract
What does the enduring rule of Turkey's President Recep Tayyip Erdoğan tell us about the resilience of authoritarian populism despite economic and governance crises? This essay argues that a key source of authoritarian resilience lies in the mutually reinforcing interaction of state capture and market capture. The AKP government not only established firm control over state institutions but also reshaped state-market relations in a way that helped the party build an extensive network that closely ties different segments of society to the state. The authors maintain that the fallout from Turkey's growing crisis of governance is not felt evenly across society and thus defies expectations that economic and governance crises necessarily result in the downfall of an authoritarian-populist regime. [ABSTRACT FROM AUTHOR]
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- 2023
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14. The ties that don't bind: trading state debates and role of state capacity in Turkish foreign policy.
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Karaoğuz, Hüseyin Emrah and Kutlay, Mustafa
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INTERNATIONAL relations , *ECONOMIC elites , *ECONOMIC policy , *POLITICAL leadership , *INDUSTRIAL policy , *CONCEPTUAL models , *CONDITIONED response - Abstract
The literature on trading states has advanced our understanding of foreign economic policy dynamics, but what constitutes a proper trading state and determines its resilience remains somewhat unclear. This article contributes to the literature by developing a political economy framework to assess the role of 'state capacity' in conditioning Turkey's foreign economic policies. Using Turkey as a case, we argue that states are more likely to show suboptimal economic engagement in case of weak state capacity, as (i) they fail to pursue effective industrial policy resulting in low exit costs, (ii) business elites cannot put pressure on the political leadership for the preservation of existing trade ties in the event of an external shock, and (iii) weak financial support mechanisms lead to insufficient assistance to national firms operating abroad. [ABSTRACT FROM AUTHOR]
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- 2023
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15. Rising Powers in a Changing Global Order: the political economy of Turkey in the age of BRICS
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ÖNİŞ, ZIYA and KUTLAY, MUSTAFA
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- 2013
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16. Economy as the 'Practical Hand' of 'New Turkish Foreign Policy': A Political Economy Explanation
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KUTLAY, MUSTAFA
- Published
- 2011
17. Liberal Democracy on the Edge? Anxieties in a Shifting Global (dis)order.
- Author
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Kutlay, Mustafa and Öniş, Ziya
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RUSSIAN invasion of Ukraine, 2022- , *ANXIETY , *AUTHORITARIANISM , *POLITICAL systems , *DEMOCRACY - Abstract
The future of liberal democracy appears to be uncertain. This article develops a holistic approach to examine the prospects of liberal democracy by focusing on how three main regime types—that is, "established democratic regimes," "hybrid regimes," and "established authoritarian regimes"—interact with each other. We argue structural global political economy trends, which largely created the current authoritarian populist tide, remain strong despite signs of democratic renewal emerged with the recent new green Keynesian turn in established Western democracies, a more unified transatlantic response to the Russian invasion of Ukraine and growing political-economic fragility of key hybrid regimes ruled by authoritarian populist leaders. Also, the resilience of various types of autocracies which co-exist and reinforce one another through economic linkages and political coalitions should not be underestimated, especially demonstrative effects of the Russia–China partnership. Both democratic and authoritarian forms of capitalism face serious problems of income and wealth inequality, raising challenges over "performance legitimacy" in both regime types. In this context, the performance and political-economic orientation of hybrid regimes will have a crucial bearing on the fortunes of liberal democracy on a global scale. [ABSTRACT FROM AUTHOR]
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- 2023
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18. Beyond the global financial crisis: structural continuities as impediments to a sustainable recovery
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Onis, Ziya and Kutlay, Mustafa
- Subjects
United States. Department of the Treasury -- Laws, regulations and rules ,Global economy -- Economic aspects -- Laws, regulations and rules ,Government regulation ,International relations ,International Monetary Fund - Abstract
There has scarcely been a day in the last three years when we have not read depressing headlines in the newspapers about the global economic crisis. The current turmoil, which many experts concur in seeing as the worst jolt to the world economy since the Great Depression, is pushing the parameters of the established system to its limits. One could say that we see, in the short-term measures taken against the crisis at the time, an effective anti-crisis strategy. But ironically, the promptness with which these short-term measures were enacted prevented adequate questioning of the dominant paradigm which had caused the crisis. As a result, the structural problems leading to the crisis were not reduced. Despite the occurrence of the deepest economic crisis to be experienced since the Great Depression, the present economic emergency did not shake the neoclassical economic paradigm as strongly as was needed. A puzzle that this study aims to solve arises here: Why and how has the conventional wisdom survived and reproduced its intellectual hegemony even after the 'most devastating economic crisis' since the Great Depression? Keywords: Global economic crisis, structural continuities, regulatory capture, dominance of mainstream economic paradigm, Wall Street lobby, 1. Introduction There has scarcely been a day in the last three years when we have not read depressing headlines in the newspapers about the global economic crisis. (1) The [...]
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- 2012
19. The EU's truth by omission: Learning and accountability after the Eurozone crisis.
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Kovras, Iosif and Kutlay, Mustafa
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EUROZONE , *TRUTH commissions , *ORGANIZATIONAL learning , *CRISIS management , *CRISES , *FORENSIC sciences - Abstract
While the literature generally frames crises as catalysts for organisational learning, most theories focus on 'success' stories of learning – ex post facto explanations of why certain ideas gained traction after a specific crisis. Less emphasis has been placed on lessons that were likely to be drawn, but were not. In probing this point, we explore the European Union's selective learning after the recent Eurozone crisis. Reforms were mostly top-down institutional and macroeconomic ones, while good practices developed by individual European states in the domain of accountability were ignored. In particular, we focus on the absence of a truth commission, an independent institutional mechanism mandated to carry out a forensic investigation of crisis management and convert past policy failures into lessons for future institutional reform. Why, despite the direct exposure of EU policymakers to these commissions, did this institutional mechanism not travel to Brussels? Drawing on semi-structured elite interviews and analyses of primary sources, we argue only organisations with an embedded institutional capacity for self-reflection (meta-learning) possess the required institutional skills to put certain issues into the spotlight. [ABSTRACT FROM AUTHOR]
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- 2022
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20. Understanding oscillations in Turkish foreign policy: pathways to unusual middle power activism.
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Kutlay, Mustafa and Öniş, Ziya
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MIDDLE powers , *LIBERALISM , *POPULISM , *ISOLATIONISM ,FOREIGN relations of Turkey ,TURKISH politics & government - Abstract
The conventional literature on the role of middle powers emphasises the importance of soft power, niche diplomacy and coalition building. This article explores a case of unusual middle power activism with a focus on recent Turkish foreign policy behaviour. It demonstrates how the interaction of domestic politics and external dynamics produced an unusual degree of foreign policy activism, going well beyond conventional middle power behaviour, with the government increasingly employing coercive diplomacy and militaristic methods. We demonstrate that unusual middle power activism in a shifting international order yielded 'populist dividends' to the ruling elite in the short run but led to a 'triple governance crisis' in the economy, politics and foreign policy, with each element feeding into the others in a path-dependent fashion. [ABSTRACT FROM AUTHOR]
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- 2021
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21. The anatomy of Turkey's new heterodox crisis: the interplay of domestic politics and global dynamics.
- Author
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Öniş, Ziya and Kutlay, Mustafa
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PRESIDENTIAL system , *INTERNATIONAL organization , *CRISES , *FINANCIAL crises ,DEVELOPING countries - Abstract
A decade after the global financial turmoil, a new wave of crises is haunting the global South. This pattern is different from previous crisis episodes. Powerful shifts in the international order provide new policy space for emerging powers to manage their economic problems in a heterodox fashion. Key Western-led institutions no longer enjoy a monopoly in dictating the terms of financial assistance for countries in economic difficulty, as non-Western powers increasingly challenge the orthodox Washington Consensus paradigm. The present paper attempts to locate Turkey's ongoing economic crisis in a comparative-historical context. Its central argument posits that the current crisis is the reflection of a fragile and unconsolidated presidential system and its associated mode of economic governance with state capitalist features. Turkey's heterodox crisis allows us to draw attention to the complex interplay of global power transitions in a post-liberal international order and domestic political constellations during an era of growing authoritarian populism, generating a new equilibrium with rather unique features. [ABSTRACT FROM AUTHOR]
- Published
- 2021
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22. Turkish foreign policy in a post-western order: strategic autonomy or new forms of dependence?
- Author
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Kutlay, Mustafa and Öniş, Ziya
- Subjects
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INTERNATIONAL relations , *GOVERNMENT policy , *POLICY discourse , *ELITE (Social sciences) , *DIPLOMACY - Abstract
Turkish foreign policy has dramatically transformed over the last two decades. In the first decade of the Justice and Development Party's (AKP) rule, the 'logic of interdependence' constituted the driving motive of Turkish foreign policy. In the second decade, however, the 'logic of interdependence' and the soft power-driven 'mediator–integrator' role were gradually replaced with a quest for 'strategic autonomy', accompanied by interventionism, unilateralism and coercive diplomacy. This article explores the causes of this dramatic shift. We argue that 'strategic autonomy', which goes beyond a moderate level of status-seeking compatible with Turkey's material power credentials, has a double connotation in the Turkish context. First, it constitutes a framework for the Turkish ruling elite to align with the non-western great powers and balance the US-led hierarchical order. Second, and more importantly, it serves as a legitimating foreign policy discourse for the government to mobilize its electoral base at home, fragment opposition and accrue popular support. We conclude that the search for autonomy from its western allies and the move towards the Russia–China axis has led to Turkey's isolation and permitted the emergence of new forms of dependence. [ABSTRACT FROM AUTHOR]
- Published
- 2021
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23. Is American Century Over?
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Kutlay, Mustafa, TOBB ETU, Faculty of Economics and Administrative Sciences, Department of Political Science and International Relations, TOBB ETÜ, İktisadi ve İdari Bilimler Fakültesi, Siyaset Bilimi ve Uluslararası İlişkiler Bölümü, and Kutlay, Mustafa
- Abstract
[No abstract available]
- Published
- 2015
24. Reverse transformation? Global shifts, the core-periphery divide and the future of the EU.
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Öniş, Ziya and Kutlay, Mustafa
- Subjects
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NEOLIBERALISM , *EUROPEANIZATION , *EUROPEAN integration , *DEBATE - Abstract
The EU faces an existential crisis. The 'liberal core', which played an important role in transforming the illiberal regimes in much of the post-war period, suffers from a series of setbacks. This paper argues that the possibility of reverse transformation – that is, the power of the emergent illiberal bloc to influence the liberal core, has become a real possibility for the first time in the history of European integration. The paper contributes to the growing debate on the sources of the EU's existential crisis and its future from a global political economy perspective. We suggest that a push-and-pull framework provides a coherent analytical toolkit to explain the properties and nature of the illiberal turn in the EU with its potential implications for the future of European integration. [ABSTRACT FROM AUTHOR]
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- 2020
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25. The Global Political Economy of Right-wing Populism: Deconstructing the Paradox.
- Author
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Öniş, Ziya and Kutlay, Mustafa
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ECONOMICS ,POPULISM ,EQUALITY - Abstract
The rise of right-wing populism should be studied as a truly global phenomenon. Domestic and regional contexts are obviously crucial, yet a narrow focus on the domestic realm fails to capture some of the key constituents and paradoxical features of the rise and resilience of right-wing populist projects around the world. Therefore, right-wing populism and the way its contradictions are 'managed' ought to be understood within the context of mutual interactions between: 1) an economy-identity nexus and 2) a domestic-foreign policy nexus. A critical review of six controversial aspects of right-wing populism in the global North and global South is used to substantiate this main argument. [ABSTRACT FROM AUTHOR]
- Published
- 2020
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26. The politics of state capitalism in a post-liberal international order: the case of Turkey.
- Author
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Kutlay, Mustafa
- Subjects
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STATE capitalism , *LIBERALISM , *INTERNATIONAL organization , *EAST-West divide ,TURKISH politics & government, 1980- - Abstract
This article discusses the transformation of the liberal international order, with reference to the ways in which global shifts affect the developmental paradigms among the emerging middle powers. Although it is rarely contested that the liberal order is being severely tested, the dynamics and potential consequences of this transformation are a matter of intense controversy. Also, the debate mainly focuses on great power politics, without paying adequate attention to the ways in which middle powers are influenced by and inform the transition to a post-liberal international order. By focusing on the case of Turkey, this article addresses whether non-Western great powers (Russia and China in particular) are leading the emergence of alternative order(s), and if so, through what mechanisms. Based on the reciprocal interactions between ideas, material capabilities and institutions, I argue that the preferences of the Turkish ruling elite seem to be gradually shifting from a Western-oriented liberal model towards a variety of 'state capitalism' as an alternative developmental paradigm in a post-liberal international order. [ABSTRACT FROM AUTHOR]
- Published
- 2020
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27. Global Shifts and the Limits of the EU's Transformative Power in the European Periphery: Comparative Perspectives from Hungary and Turkey.
- Author
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Öniş, Ziya and Kutlay, Mustafa
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HUNGARIAN politics & government, 1989- ,TURKISH politics & government, 1980- - Abstract
This article highlights the weakening of the EU's transformative capacity in the broader European periphery in a rapidly shifting global order, with reference to Hungary and Turkey. Although Hungary is an 'insider' and Turkey a relative 'outsider', their recent experiences display strikingly similar patterns, raising important concerns about the EU's leverage. Under the influence of strong nationalist-populist leaders backed by powerful majorities, both countries have been moving in an increasingly illiberal direction, away from well-established EU norms. The article proposes an analytical framework based on a combination of push and pull factors that are driven by changing global political economy dynamics, which explains the EU's declining appeal in its periphery, not only in reference to the internal dynamics of European integration and its multiple crises, but also the appeal of illiberal versions of strategic capitalism employed by rising powers, which serve as reference points for the elites of several states in diverse geographic settings. [ABSTRACT FROM AUTHOR]
- Published
- 2019
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28. Reforming reactive states: A comparative political economy of Greek and Turkish Crises
- Author
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Kutlay, Mustafa, Öniş, Şakir Ziya, Bakır, Caner, and Siyaset Bilimi ve Uluslararası İlişkiler Anabilim Dalı
- Subjects
Siyasal Bilimler ,Greece ,Political economics ,Turkey ,Economics ,Economic crisis ,Political Science ,International Relations ,Uluslararası İlişkiler ,Financial crisis ,Economic reform ,Ekonomi ,Crisis - Abstract
Ekonomik reformların siyasi iktisadı, uluslararası/karşılaştırmalı siyasi iktisatliteratürünün tartışmalı konuları arasında yer almaktadır. Kurumsal siyasi iktisatekolünün vurguladığı üzere, 'devlet kapasitesi' reform süreçlerinde bir engel değil, birön koşuldur. Ancak devletler kapasite bakımından farklılık sergileyen entitelerdir. Buçalışma, geç-sanayileşmiş 'reaktif devletler' bağlamında mali-finansal reformdinamiklerini incelemektedir. Bu kapsamda cevap aranan temel araştırma sorularışunlardır: Reaktif devletlerde reform-durgunluğu ve reform-aktivizminin dinamiklerinasıl kavramsallaştırılabilir? Bilhassa ekonomik krizler, hangi şartlarda ve nedensellikmekanizmalarıyla kapsamlı mali-finansal reformlara imkan tanıyabilmektedir? Sözkonusu karmaşık sorulara cevap verebilmek için bu çalışmada epistemolojik temeli'analitik eklektizme' dayanan üç-aşamalı kavramsal model önerilmiştir. Bu çalışmada,Yunanistan ve Türkiye 'en benzer vakalar' olarak incelenmiştir. Birincisi, iki ülke deneoliberal küreselleşme döneminde disipline edilemeyen mali-finansal sistemleriyle'reaktif devlet' kavramsallaştırmasına yakınsayan örneklerdir. İkincisi, iki ülke dedüzenleyici devlet kapasitesinin eksikliğinden dolayı derin ekonomik kriz yaşamıştır.Söz konusu krizler (2009 Yunanistan ve 2001 Türkiye) mevcut güç dengelerini vehakim paradigmaları temelinden sarsmıştır. Üçüncüsü, IMF-AB 'dışsal çapası' her ikiülkede de kriz sonrası yeniden yapılandırma süreçlerine doğrudan müdahil olmuştur.Ancak iki ülkenin kriz sonrası reform performansı karşılaştırıldığında çarpıcı birfarklılaşma görülmektedir.Türkiye ve Yunanistan'ın karşılaştırmalı analizi reaktif devletlerde reform dinamiklerinianlayabilmek ve 'sınırlı genellemeler' önerebilmek için uygun vakalardır. Bu çalışmadakullanılan veriler, iki ülkedeki alan çalışmasında elde edilen otuz altı yarı-yapılandırılmış elit mülakatına dayanmaktadır. Ayrıca kapsamlı birincil ve ikincil veriile alan araştırması bulguları desteklenmiştir. Çalışmanın bulgularına göre reaktifdevletlerde reform dinamikleri bir dizi faktörün zaman ve konteks-bağımlı karmaşıketkileşiminin sonucunda ortaya çıkmaktadır: (i) krizler, reformların hayata geçirilmesiiçin fırsat penceresi açmaktadır; (ii) kriz sırasında siyasi irade ve 'siyasi girişimciler'sorunların, çözüm önerilerinin ve siyasi mekanizmaların birleştirilerek 'bütüncül bir krizokumasının' oluşturulmasında kurucu önemdedir. Ancak reformist devlet aktörlerininkriz okumasının ilgili dışsal çapaların kriz okumalarıyla örtüştürülmesi gerekmektedir;(iii) aktör düzeyinde oluşan hakim kriz okumasının reform-yanlısı koalisyonların desteğiile sürdürülebilir reformlara neden olabilmesi için kurumsal yapıların kritik eşiği aşmayaimkan tanıyacak ölçüde kolaylaştırıcı rol oynamaları gerekmektedir.Anahtar kelimeler: reaktif devlet, devlet kapasitesi, mali-finansal reformlar, siyasigirişimci, kriz okuması. I think writing a PhD dissertation very much resembles the situation described byTocqueville. It is a long journey full of impediments, hopes, and frustrations. I amgrateful to many people, scholars and colleagues, who helped me navigate my way inthe midst of things during this PhD research. First and foremost, I struggle for sufficientwords to express my deepest gratitude to my dissertation advisor, Professor Ziya Öniş.Professor Öniş guided me through all these years. I am more than thankful for hisexcellent guidance, insightful comments, encouraging feedback, and tireless support atall stages of my PhD education. More importantly, however, Professor Öniş instilled inme deeply the notion that cutting-edge scholarship does not only require 'faircompetition' but also an open mind for cooperation, deliberation, genuine respect forpluralism, and academic modesty. I have always been and will remain honored and veryproud of being his research assistant and PhD student. Second, I would like to thank myco-advisor Professor Caner Bakır for providing substantial comments and feedback atvarious stages of my research. His feedback helped me a lot in finding my way along the'messy center' of comparative political economy.Third, I express my gratitude to my thesis committee members. Professor M. FatihTayfur has always placed a strong support and trust in me. I have the privilege of havingknown Professor Tayfur from my undergraduate years during which his excellence,passion, and meticulous scholarship inspired me to be a student of international politicaleconomy. In fact, he did not only teach me the fundamentals of international politicaleconomy but also helped me discover the magic of academia. I would like to express myspecial thanks to Professor Şuhnaz Yılmaz Özbağcı for her constructive comments andfeedback, continual encouragement and very precious support. I am also grateful toProfessor Zühre Aksoy as she agreed to join my dissertation committee at a critical pointand provided valuable feedback.Fourth, I am grateful to the external examiners of my dissertation committee: ProfessorE. Fuat Keyman and Professor Sadık Ünay. Professor Keyman has always been a sourceof inspiration for me as a student of international politics with his pioneering books andarticles advocating multi-discipliner approach to social sciences. Professor Keyman alsobacked me at crucial turning points of my professional career path. Similarly, ProfessorSadık Ünay enlarged my intellectual horizons by virtue of his illuminating studies onTurkey's comparative political economy and our conversations spanned over the coupleof years. I am therefore very grateful to both Professor Keyman and Professor Ünay fortheir support and encouragement. vFifth, part of this research was supported by The Scientific and Technological ResearchCouncil of Turkey (TÜBİTAK) scholarship (2214-A, Yurtdışı Doktora Sırası AraştırmaBurs Programı) thanks to which I spent one year at Royal Holloway University ofLondon. I had the opportunity to work with Professor Chris Rumford from RoyalHolloway. I also had the opportunity to use the amazing libraries of London School ofEconomics and King's College London and frequently consult the distinguished expertsof the Hellenic Observatory at LSE. I presented different parts of my thesis at LSE,ODTÜ, British Institute at Athens, International Strategic Research Organization(USAK) in Ankara.Sixth, I would like to extend my appreciation to Professor İhsan Bal, AmbassadorÖzdem Sanberk, Turkish Embassy in Athens, Dr Altay Atlı, and many others whosenames I cannot mention here for providing crucial contacts, sharing valuable ideas andoffering motivating feedback at various stages of this research. I deeply appreciate thatProfessor Bal provided enough space to concentrate on my research at critical turningpoints over the last four years. I am also very grateful to Taisiya Tsebieva, who helpedme draft a more readable manuscript. Apart from this, Taisiya (or, what we call her,Taya) turned out to be a great friend from whom I learned many things about friendship,generosity, and modesty. I want to thank to Öznur Keleş for her superb assistance. Shehelped a lot whenever I needed her support.Last but not least, I am heavily indebted to my wife, Muzaffer, for being so supportiveand altruistic through the ups and downs of my PhD thesis. I sometimes spent stressfuldays in London during the writing phase of this dissertation. In those long days, shealways shared my concerns and used creative ways to help me overcome thecircumstantial ebb and flow. I can only say that my gratitude to her is beyond words. 470
- Published
- 2014
29. Neo-developmentalist turn in the global political economy? The Turkish case.
- Author
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Kutlay, Mustafa and Karaoğuz, Hüseyin Emrah
- Subjects
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RESEARCH & development , *DEVELOPMENTALISM (Economics) , *GLOBAL Financial Crisis, 2008-2009 , *ECONOMIC policy ,ECONOMIC conditions in Turkey, 1960- - Abstract
The 2008 global economic crisis galvanized the debate on neo-developmentalism as the pendulum of economic thinking began to swing away from neoliberalism. The current shift in the modalities of market governance mainly deals with the ways through which industrial policies can be crafted in a more open-economy setting. Accordingly, the post-crisis literature turns a keen eye on the state’s developmental role in the research and development (R&D) sector in an age of ‘bit-driven’ global political economy. On that note, the nature, properties, and limits of state policies of emerging powers in this particular realm are becoming increasingly central but remain an understudied theme. This article discusses the R&D policies of Turkey from a state capacity perspective and questions the rationale of those policies by linking the state’s transformative capacity to the discussions on distributive pressures. Drawing on 21 in-depth semi-structured interviews, this article assesses Turkey’s R&D policies. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
30. The Transformative Power of the EU in a Changing International Order.
- Author
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KUTLAY, Mustafa
- Subjects
FOREIGN relations of the European Union ,INTERNATIONAL relations ,EUROPEAN Sovereign Debt Crisis, 2009-2018 ,EUROPEAN integration - Abstract
The EU is a distinct actor in global politics. Researchers have developed different concepts to explain its sui generis nature. All approaches, however, converge in the sense that the EU has acted as an important transformative power that altered political preferences in member and candidate countries and informed dominant policy paradigms that organise state-market relations in its sphere of influence. This study argues that the EU's transformative power is under stress as never before due to the internal and external political economy challenges. From an internal point of view, the way in which the euro crisis and migration waves were managed dramatically jeopardized the solidarity ethos in the EU. From an external point of view, the changing international order and the rise of emerging powers weaken the appeal of the EU governance model in global politics. [ABSTRACT FROM AUTHOR]
- Published
- 2018
31. Transformation of the finance capital in Spain and Turkey: A comparative political economy perspective
- Author
-
Kutlay, Mustafa, Tayfur, M. Fatih, and Diğer
- Subjects
International Relations ,Uluslararası İlişkiler ,Financial sector ,Political power - Abstract
Dünya politik ekonomisi 1980'lerin başından itibaren büyük bir değişimin içine girmiştir. Finans kapitalin dönüşümü de bu kapsamlı değişimin çok önemli ve ayrılmaz bir parçasını oluşturmaktadır. Süreç içerisinde birçok ülke finansal sistemlerini dönüştürmek ve liberalleştirmek suretiyle bu değişime ayak uydurmuştur. Ancak, ülkesel bazda ele alındığında çok değişik metodlar izlendiği görülmektedir. Bir grup devletler (`pro-aktif' devlet), finansal sistemdeki dönüşümü daha kapsamlı bir politik ekonomi dönüşümünün parçası olarak değerlendirmiştir. Sonuçta bu ülkelerde devletin sürece stratejik müdahalesi ve finansal elit ile endüstriel elit arasında tesis edilen organik bağ neticesinde finans kapitalin dönüşümü sözkonusu ülkenin genel olarak politik ekonomisini olumlu yönde yeniden yapılandırmasının bir aracı olarak kullanılabilmiştir. Diğer bir devlet grubu (`reaktif' devlet) ise, devlet eliti, finansal ve endüstriel elit arasında verimli bir bağın tesisini sağlayamamış, finans kapitalin dönüşümü yapısal sorunların şiddetlenmesi sonucunu doğurmuştur. Bu açıdan bakıldığında İspanya ve Türkiye birinci ve ikinci kategorilere ilişkin aydınlatıcı örnekler olarak ön plana çıkmaktadır. Bu bağlamda bu tezin amacı İspanya ve Türkiyedeki finans kapitalin dönüşümünü mukayeseli politik ekonomi perspektifinden analiz etmek ve iki ülkenin politik ekonomilerinin nasıl farklı şekillerde dönüştüğünü incelemektir. The world political economy passed through sea changes starting from the early-1980s. The transformation of the finance capital was an indispensible and important aspect of this change. Most of the countries in this process adapted themselves in line with the abovementioned transformation and liberalized their financial systems. However, the specific country practises diverged from each other considerably. On the one hand, some of the countries transformed their finance capital as part and parcel of a comprehensive political economy framework. As a result of the strategic involvement of the state (`pro-active states?) and the organic interaction between the interest groups in the industrial and financial sphere, the transformation of financial systems materialized within the context of the upward restructuring of the overall political economy structure of these countries. On the other hand, some countries could not establish the productive link between industrial, financial and state elites (`reactive states?) and the financial transformation exacerbated the structural problems in the countries in question. As illuminating examples of the former and latter categories, Spain and Turkey represent instructive cases in point. In this regard, the aim of this study is to make a comparative political economy analysis between the transformation of the finance capital in Spain and Turkey and to pinpoint the diverging paths of the political economy structures of these countries. 203
- Published
- 2010
32. The dynamics of emerging middle-power influence in regional and global governance: the paradoxical case of Turkey.
- Author
-
Öniş, Ziya and Kutlay, Mustafa
- Subjects
- *
MIDDLE powers , *INTERNATIONAL relations research , *HEGEMONY ,FOREIGN relations of Turkey ,ECONOMIC conditions in Turkey - Abstract
This article attempts to understand the properties, potentials and limits of middle-power activism in a changing global order. Extensive debate on the rise of emerging powers notwithstanding, the potential contributions of emerging middle powers in regional and global governance, and the imminent challenges they face in their struggle for an upgraded status in the hierarchy of world politics, is an understudied issue. This study aims to fill this gap by offering a broad conceptual framework for middle-power activism and testing it with reference to the Turkish case. In this context, the authors aim to address the following questions: What kind of roles can emerging middle powers play in a post-hegemonic international system? What are the dynamics, properties and limitations of emerging middle-power activism in regional and global governance? Based on an extensive study of the Turkish case, the authors’ central thesis is that emerging middle powers can make important contributions to regional and global governance. Their ultimate impact, however, is not inevitable, but depends on a complementary set of conditions, which are outlined in this study. [ABSTRACT FROM PUBLISHER]
- Published
- 2017
- Full Text
- View/download PDF
33. The Arab Spring: A Game Changer in Turkey-EU Relations?
- Author
-
Dinçer, O. Bahadır and Kutlay, Mustafa
- Subjects
- *
ARAB Spring Uprisings, 2010-2012 , *DEMOCRATIZATION , *LEADERSHIP , *POLITICAL stability , *INTERNATIONAL cooperation ,EUROPE-Turkey relations ,ECONOMIC conditions in Turkey, 1960- - Abstract
We argue in this paper that the Arab Spring has opened a window of opportunity not just to create stability and democracy in one of the most unstable regions of the world, but also for revitalizing Turkey-EU relations. In theory, Turkey-EU cooperation can make a decisive difference in determining the outcome of the triangular relationship between stability, development, and democratization in the Arab region. In normative terms, as an opportunity, it must be turned into an advantage. From a practical perspective, however, transforming the window of opportunity into policy output is linked to the policy leadership of the sides involved to undergo a paradigm shift in their approach to the region and toward one another. [ABSTRACT FROM AUTHOR]
- Published
- 2013
- Full Text
- View/download PDF
34. Internationalization of finance capital in Spain and Turkey: Neoliberal globalization and the political economy of state policies.
- Author
-
Kutlay, Mustafa
- Abstract
This study applies the proactive/reactive state framework to the transformation of Spanish and Turkish finance capital in a comparative perspective. It concludes that the "proactive" policies pursued by the Spanish state and the strategic coalition established between political elites and the integrationist segments of finance capital resulted in the heterodox internationalization of Spanish firms, whereas the "reactive" state policies in Turkey, designed in line with orthodox neoliberal dictums, paved the way for an incomplete internationalization. The 2007/2008 crisis, however, demonstrates that the same state may be both proactive and reactive across various policy fields over time. The recent Spanish financial crisis and Turkey's regulatory success after 2001 illustrate this point. [ABSTRACT FROM AUTHOR]
- Published
- 2012
- Full Text
- View/download PDF
35. Stopping 'Blame Game', Revealing the Euro Zone's Design Faults: 'Complex Interdependence Within the Nation-State Framework'.
- Author
-
Kutlay, Mustafa
- Subjects
EUROPEAN integration ,EUROPEAN Sovereign Debt Crisis, 2009-2018 ,INTERNATIONAL economic relations ,INTERNATIONAL cooperation ,INTERNATIONAL relations - Abstract
The euro zone crisis has become the most serious test-case for European integration. Since the beginning of the euro zone crisis, its leaders have played the "blame game" against each other. This paper argues that the crisis in the euro zone has arisen not only because of individual member states' irresponsible policy choices, but also due to the design faults within the euro zone project. This study scrutinizes "complex interdependence within the nation-state framework" as the primary cause of the euro zone problem. On the one hand, the single currency regime came into existence under the "complex interdependence" system mainly driven by financialization and cross-country financial transactions, including skyrocketed government and private debt ratios. On the other hand, the euro zone regime, due to its overwhelming reliance on a "nation-state framework", was not armoured against the side-effects of complex interdependence. The paper concludes that unless the European leaders demonstrate the required policy entrepreneurship to take necessary steps and reform the design faults in the euro zone, there does not seem to be any future for the single currency. [ABSTRACT FROM AUTHOR]
- Published
- 2011
36. A POLITICAL ECONOMY APPROACH TO THE EXPANSION OF TURKISH-GREEK RELATIONS: INTERDEPENDENCE OR NOT?
- Author
-
KUTLAY, Mustafa
- Subjects
INTERNATIONAL economic relations ,PUBLIC-private sector cooperation ,DECISION making ,POLITICAL participation ,ECONOMICS - Abstract
Turkish-Greek bilateral economic relations expanded significantly in the last decade and reached an unprecedented level in history. Given the increasing importance of business groups as a result of the intensifying economic relations, some scholars go on to argue that interdependence theory, which underlines the importance of non-state actors in the decision-making process, became relevant within the context of Turkish-Greek relations. In order to assess the relevance of interdependence theory, the determinants of the expansion in bilateral economic relations are analyzed in the present paper. It is argued in the final analysis that although non-state actors (especially business groups) become visible in the new aura of relations within the framework of interdependence theory, they are not likely to create functional spillover into 'high politics' given that the two major determinants in the 2001-2007 period are subject to change in the post-2008 period. [ABSTRACT FROM AUTHOR]
- Published
- 2009
37. WHY SHOULD TURKEY REVISIT THE CUSTOMS UNION WITH THE EU?
- Author
-
KUTLAY, Mustafa
- Subjects
CUSTOMS unions ,TARIFF ,INTERNATIONAL economic integration ,INTERNATIONAL economic relations - Abstract
The article explains why should Turkey revisit the customs union decision with the European Union (EU). It discusses the benefits of customs union for Turkish economy including the growth of exports and the rise of Turkey's competitiveness globally. It examines the changing trade dynamics and changing political dynamics in Turkey-EU relations.
- Published
- 2013
38. 'NEW DIPLOMACY' IN INTERNATIONAL POLITICAL ECONOMY AND TURKEY-EU RELATIONS.
- Author
-
Kutlay, Mustafa
- Subjects
FOREIGN relations of the European Union ,ECONOMICS ,DIPLOMACY ,EUROPE-Turkey relations - Abstract
The article reports on the diplomacy in International Political Economy (IPE) in relation to Turkey and European Union (EU) relations. It notes that the political economy of the world has undergone a significant transformation in which the classical state centric diplomacy and static analysis of the interstate system have turned to be obsolete. It cites that the firm-firm and state-firm relations have similar case for Turkey-EU relations which could strengthen and smoothen the relations.
- Published
- 2010
39. FINANCIAL LIBERALIZATION AND CRISIS IN THE AGE OF GLOBALIZATION.
- Author
-
Kutlay, Mustafa and Vatansever, Muzaffer
- Subjects
FINANCIAL liberalization ,GLOBALIZATION ,CAPITAL market ,ECONOMIC development ,CRISES ,ECONOMICS - Abstract
The article focuses on capital market liberalization during globalization. It says that the financial aspect of globalization is the most dynamic and unstable part of the economic process due to its potential to put the economy into crisis. It discusses the risks associated with the said liberalization which include asymmetric information, adverse selection, and moral hazard. It adds that the liberalization has created consequences such as instability and impediment of economic growth.
- Published
- 2009
40. TURKEY AND AGREEMENT WITH IMF: NEITHER COMPULSORY, NOR ADEQUATE.
- Author
-
Kutlay, Mustafa
- Subjects
INTERNATIONAL cooperation ,CONTRACTS ,ECONOMIC conditions in Turkey, 1960- ,TURKISH politics & government, 1980- - Abstract
In this article, the author discusses the agreement between Turkey and International Monetary Fund (IMF), which he describes as inadequate for the nation. He mentions the possible issues which may affect the economy of Turkey, such as foreign trade, foreign credit, and coordination and expectations. He says that the agreement will look like a fringe benefit for the nation when the Turkish government completes the recovery plan.
- Published
- 2009
41. THE CHANGING POLICY OF THE EUROPEAN UNION TOWARDS FREE TRADE AGREEMENTS AND ITS EFFECTS ON TURKISH FOREIGN TRADE: A POLITICAL ECONOMY PERSPECTIVE.
- Author
-
Kutlay, Mustafa
- Subjects
INTERNATIONAL cooperation on free trade ,INTERNATIONAL economic relations - Abstract
The EU has traditionally been one of the most decisive supporters of multilateralism. Especially after Uruguay Round, she almost exclusively concentrated on WTO negotiations. Throughout the negotiations under WTO, even under the most stressed conditions, the EU backed multilateralism. Nevertheless, due to internal and external reasons, she started to veer her route toward bilateralism after a Communication published in 2006. Recently, she has concentrated on the Asian markets with particular reference to South Korea, ASEAN countries and India and started FTA negotiations with them. Since the EU is the most important trading bloc in the world, the change in her trade orientation inescapably affects the third countries that have special relations with the Union. Turkey, as a country that established a customs union without being a member of the EU, is one of the most illuminating cases, in this regard. Possible FTAs between the EU and South Korea, India, and ASEAN countries have the risk to deteriorate Turkish producers' competitiveness and create trade deflection in the medium-term. In this context, two scenarios are drawn in this article, and it is concluded that in the 'loose integration' scenario, which is the most likely one, the negative effects of these agreements to Turkish economy might be less severe than anticipated. [ABSTRACT FROM AUTHOR]
- Published
- 2009
42. DOES GERMAN-FRENCH AXIS DOMINATE THE EU? TURKEY-EU RELATIONS AS AN EXEMPLAR.
- Author
-
Kutlay, Mustafa and Blommaert, Quentin
- Subjects
INTERNATIONAL relations - Abstract
The article discusses the issue concerning the obstacle on Turkey's accession in European Union (EU) and EU's main players Germany and France. It is inferred that the Turkish people living inside German and France borders are staggering EU's relationship with both countries. Also included are the decisions of Germany and France towards the issue.
- Published
- 2011
43. FINANCIAL CRISIS, G20 AND BEYOND: BALANCING THE GLOBAL IMBALANCES.
- Author
-
Kutlay, Mustafa
- Subjects
GLOBAL Financial Crisis, 2008-2009 ,SUMMIT meetings ,GLOBALIZATION ,FINANCE laws ,EMERGING markets - Abstract
The article discusses the implications of the Group of Twenty (G20) summit on the global financial crisis. It notes that G20 leaders have agreed to tighten financial regulation of derivatives, create a 1.1 trillion dollar stimulus package and keep credit channels open to emerging markets via International Monetary Fund (IMF) reserves. It cites major faults within the global economy including the undemocratic nature of globalization, asymmetry between labor and capital, and over financialization.
- Published
- 2010
44. The Transformative Power of the EU in a Changing International Order
- Author
-
KUTLAY, Mustafa
- Subjects
EU Transformative Power,Changing Global Order,Euro Crisis,Emerging Great Powers - Abstract
The EU is a distinct actor in global politics. Researchers have developed different concepts to explain its sui generis nature. All approaches, however, converge in the sense that the EU has acted as an important transformative power that altered political preferences in member and candidate countries and informed dominant policy paradigms that organise state-market relations in its sphere of influence. This study argues that the EU’s transformative power is under stress as never before due to the internal and external political economy challenges. From an internal point of view, the way in which the euro crisis and migration waves were managed dramatically jeopardized the solidarity ethos in the EU. From an external point of view, the changing international order and the rise of emerging powers weaken the appeal of the EU governance model in global politics
45. Turkish Economy amid Global Financial Turmoil.
- Author
-
Kutlay, Mustafa
- Subjects
ECONOMIC activity ,BUSINESS cycles ,FINANCIAL crises ,FINANCIAL markets ,RECESSIONS - Abstract
The article presents an analysis of the current economic activity in Turkey. Although accustomed to financial crises and economic fluctuations, the Turkish economy is accordingly wounded by the mortgage crisis in the U.S. However, its solid financial system, the strong position of the Central Bank of Republic of Turkey (CBRT), as well as its foreign and domestic confidence are believed the greatest aspects which can combat the current financial crises.
- Published
- 2008
46. Notes on the Recent Developments of Turkish Economy.
- Author
-
Kutlay, Mustafa
- Subjects
ECONOMIC conditions in Turkey, 1960- ,FINANCIAL performance ,ECONOMIC indicators ,GROSS domestic product ,GROSS national product ,PER capita ,TURKISH lira - Abstract
The article offers information on the economic performance of Turkey in 2008. According to Turkish Statistical Institute (TURKSTAT), yearly gross domestic product (GDP) in 2007 has increased by 12.9% to 856,387 million New Turkish Liras in current prices. In addition, the per capita GDP in 2007 was $658,786 million in current prices and 12,132 New Turkish Liras.
- Published
- 2008
47. Turkey and Agreement with IMF: Neither Compulsory, Nor Adequate.
- Author
-
Kutlay, Mustafa
- Subjects
FINANCIAL crises ,INTERNATIONAL economic assistance ,TURKISH politics & government ,ECONOMIC development - Abstract
The article offers analysis on the agreement between the Turkish government and International Monetary Fund (IMF), with respect to the surging global financial crises. It argues that the agreement with IMF is neither adequate nor compulsory for Turkey because Turkey does have enough coordination and expectations. Several economic channels through which the financial crises may impact are discussed, which include foreign trade, foreign credit, and confidence among the financial sectors.
- Published
- 2008
48. International Political Economy: An Intellectual History.
- Author
-
KUTLAY, Mustafa
- Subjects
ECONOMICS ,NONFICTION - Abstract
The article reviews the book "International Political Economy: An Intellectual History," by Benjamin J. Cohen.
- Published
- 2009
49. The EU-Turkey Relations: A challenge to the European Identity?
- Author
-
Kutlay, Mustafa Kutlay
- Subjects
- *
CULTURAL animation , *WORLD system theory , *ECONOMIC impact - Abstract
Turkey-EU relations have a long history going back to 1960s. Due to economic, political and socio-cultural reasons the relations have fluctuated dramatically over the four decades. After, the 2005 period, the membership negotiations have been launched formally, and the identity discussions intensified spectacularly. In my paper, I argue that Turkeyâs membership is not just a simple integration process like other member countries. The EU-Turkey discussions are directly related to the Europeâs identity crisis that became more visible after the rejection of the Constitution in France and Netherlands. In order for the EU to be clear against Turkey, she has to answer the following question: what will be the identity of Europe in the future? I argue that the answer of this question will affect the future of the EU-Turkey relations and the position of the EU in the world system over the medium and long term. ..PAT.-Unpublished Manuscript [ABSTRACT FROM AUTHOR]
- Published
- 2009
50. [JTW Analysis] Is Turkey Turning its Back on the EU? A Response to Mr. Andrew Duff.
- Author
-
Kutlay, Mustafa
- Subjects
TURKISH politics & government, 1980- ,CYPRIOT politics & government, 2004- ,EMPLOYEES - Abstract
The article comments on a speech given by Liberal Democrat European Union (EU) member of parliament (MP) Andrew Duff who said Turkey's rhetoric concerning the EU and Cyprus is hostile. At issue are Turkish Prime Minister Recep Tayyip Erdoðan's remark about a Greek Cypriot EU presidency freezing relations with Turkey and Erdoðan's efforts to negotiate peace between Greek and Turkish leaders in Cyprus.
- Published
- 2011
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