Central bank independence in Turkey: A neo-Gramscian analysis

dc.contributor.authorŞahin, Sevgi Balkan
dc.date.accessioned12.07.201910:50:10
dc.date.accessioned2019-07-12T15:28:04Z
dc.date.available12.07.201910:50:10
dc.date.available2019-07-12T15:28:04Z
dc.date.issued2012
dc.departmentİktisadi ve İdari Bilimler Fakültesien_US
dc.descriptionWOS: 000301287100006en_US
dc.description.abstractThe Turkish state has been going through a neo-liberal transformation resulting from the strategic reorientation of state institutions in ways that enhance and facilitate the strategies pursued by market-oriented social forces. The reform that granted legal independence to the Turkish Central Bank (TCMB) in 2001 was an institutional turning point within the state structure in Turkey; this policy shift prohibited TCMB's granting of credits to the Treasury and other public institutions. Institutionalization of an anti-inflationary approach to macro-economic policy altered the power balance not only between different state agencies, but also between social groups in favour of financial interests that benefited from monetary stabilization. Rooted in a neo-Gramscian framework, this article explores the legal independence of the TCMB as a function of the market-oriented domestic social forces that emerged as a result of the process of neo-liberal globalization initiated in the 1980s. The article also emphasizes how the hegemonic unification of diverse identities and interests around the strategy of achieving price stability was crucial in the autonomy of the TCMB.en_US
dc.identifier.doi10.1177/0010836711433127
dc.identifier.endpage123en_US
dc.identifier.issn0010-8367
dc.identifier.issue1en_US
dc.identifier.scopus2-s2.0-84857960199
dc.identifier.scopusqualityQ1
dc.identifier.startpage106en_US
dc.identifier.urihttps://doi.org/10.1177/0010836711433127
dc.identifier.urihttps://hdl.handle.net/20.500.12507/614
dc.identifier.volume47en_US
dc.identifier.wosWOS:000301287100006
dc.identifier.wosqualityQ3
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherSAGE PUBLICATIONS LTDen_US
dc.relation.ispartofCooperatıon and conflıct
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectCentral Bank İndependenceen_US
dc.subjectHegemonyen_US
dc.subjectNew Constitutionalismen_US
dc.subjectprice stabilityen_US
dc.subjectSocial Forcesen_US
dc.subjectTurkeyen_US
dc.titleCentral bank independence in Turkey: A neo-Gramscian analysis
dc.typeArticle

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