Abstract (Financial Sector - International Developments and The Case Of Turkey):
Bibliographic record
Abstract
(Financial Sector - International Developments and The Case Of Turkey): Main events that left their mark on international economic developments in the last quarter century were the adoption of liberal economy practices, increasing collaboration among countries, capital flows particular to the developing countries, technological innovations, importance gained by the energy sector and rapid developments in the financial markets. Significant crises that affected the performance of the world economy have emerged during the same period both in developed and developing countries. Increasing international collaboration on economy and rapid capital movements from one country to another also resulted in the transfer of risks as a contagious syndrome. Therefore, crises encountered in the financial sector in recent years have stated expressly the necessity of restructuring and strengthening of the sector. In that context, efforts for international collaboration have been accelerated, and special attention was paid to the determination, adoption and implementation of standards associated with regulation and supervision of the banking system and other areas that inherently contain risks.The first ever bank established in Turkey was in 1847. After 1923, the year when the Republic was proclaimed, development of a national banking system was given priority. During the period approaching 1940s, banks governed and owned by the public were activated. Privately owned bankscame into being after 1945s, when the private sector was adopted as the pioneering drive for the growth strategy. The biggest change that affected the growth and development of the banking sector was the decision for the transformation from planned economy to market economy. During 1980s, numerous important steps were taken in Turkey for the modification of the economical environment. Thanks to those steps, the economy that had been brought to a standstill during the planned period was revived towards a trend of growth and development. However, continuity in the reforms could not be maintained, and in stead of structuring a sustainable economic order, inflationist policies were pursued that intensified macroeconomic instability. Banking system was directly and indirectly interfered. The high inflation and unwarranted public sector’s expenditures that continued for a long period resulted in disregard for productivity, profitability and competitiveness. In1999, a new process of economic reforms was initiated in Turkey. The principal pillars of economic restructuring were reinforcement and growth of the banking system,and increasing the depth of the financial sector. The approach was changed in the regulation and supervision, and assessment of the audit’s results of the banking system that constitutes 95 percent of the financial sector, and an independent supervisory authority was established. The regulatory framework on banking was brought considerably closer to international standards, and financial structures of the banks were strengthened. Due to the achievement of economic stability and maintenance of a strong growth environment after 2002 the growth rate in the banking sector gained momentum; its balance-sheet structure and equity ratios turned healthier, its profitability increased, its corporate and retail credit volume increased and its ownership structure considerably altered. When compared in international terms against developed countries, the financial sector in Turkey is small. Nevertheless, its size is larger than those of the average of the developing countries. Turkey attaches importance to international relationships, and presently exerts intensive efforts to have a higher niche in the world economy. Reforms conducted in recent years practically in all areas of the economy are clear indicators of those efforts. Inflation has been reduced to a single digit. Publicsector’s debt requirements and its demand for resources from the financial sector are on decline. Arrangements towards better operation of the market mechanisms and establishment of institutions towards that end are under way. A Turkey that has a robust economy and financial sector is the guarantor of stability in both economy and politics in its geographical area. Turkey is in a special position not only in terms of its own growth potential, but also in revitalizing the potential of the entire region. A feasibility study in order to make the Istanbul regional financial center has been completed and the preparations for formulating coordination policy and adaptation of a determined program towards realization of the project are continuing.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.000 | 0.000 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.001 | 0.002 |
| Science and technology studies | 0.002 | 0.002 |
| Scholarly communication | 0.006 | 0.004 |
| Open science | 0.001 | 0.002 |
| Research integrity | 0.003 | 0.002 |
| Insufficient payload (model declined to judge) | 0.012 | 0.002 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".