After the development of Atlantic trade in the nineteenth century, the United States of America (US) became economically important place, attracting to a labour flow from neighbouring countries and other continents. Meanwhile, serious economic and political shocks were experienced by the Ottoman...

We argue overcoming the reticence induced by the wartime (WW1) expulsion and extermination of Anatolia’s Christians is necessary for a correct assessment of Turkey’s developmental performance. To this effect we investigate the drivers of pre-WWI commercial agriculture in Turkey using the...

In this paper, we use new historical data on the most popular stocks traded at the İstanbul bourse between 1910 and 1914, to examine the effect of wars on stock market prices. During this period, the Ottoman Empire was involved in the Turco-Italian and the Balkan wars, leading to massive land...

Informal finance refers to financial transactions that occur outside official financial institutions and that are not regulated by governmental authorities. The purpose of this paper is to investigate what are the difficulties of SMEs in accessing formal finance and therefore how the country-...

This paper aims to investigate the determinants of collateral requirements for loans that are extended to small and medium-sized enterprises in less-developed countries. Our primary data source consists of the results from firms in Eastern Europe and Central Asia from the Business Environment...