Research

Research topic: Financialization in the banking sector of emerging markets: evidence from Turkey

The financialization process of emerging markets began with the 1970s recession, where capitalist economies entered into emerging markets and reshaped the countries’ economic environment fundamentally. Changes include a decline in real economy, increasing engagement of the middle class in investment activities, and structural changes in corporate governance. Only little research has been done about emerging markets and almost none covering the banking sector.  My thesis focuses on how emerging markets are coping with the financialization process in the banking sector and what kind of challenges and changes this process brings. Three main aspects will be investigated. Firstly, structural changes of corporate governance in the banking sector. Secondly, changes in emerging markets banking activities. Finally, changes to alternative banking practices i.e. Islamic Banking.

Research interests: emerging markets, financialization, banking sector, business systems

Supervisors: Professor Richard Common, Dr Simon Sweeney

Profile

The financialization process of emerging markets began with the 1970s recession, where capitalist economies entered the emerging markets and reshaped their economic environment fundamentally.

Changes include a decline in real economy, increasing engagement of the middle class in investment activities, and structural changes in corporate governance. Little research has been done about non-financial sector of the emerging markets.

This study focuses on how emerging markets are coping with the financialization process in the non-financial sector and what kind of challenges and changes this process brings. Two main aspects will be investigated. Firstly, how a network of public, private, and supranational actors contributed to the financialization process. Secondly, changes in emerging markets, i.e. Turkey‘s non-financial corporate sector, hereby testing the hypothesis ‘has the engagement of financial assets vis-a-vis fixed assets increased?’.

Keywords: Financialization, emerging markets, non-financial sector, Turkey

Publications

Publications . . .