Since gaining independence in 1923 until the 2000s when the Republic of Turkey applied for membership in the European Union, volatile trends were recorded in the country in terms of both economic growth and financial performance. In the early stages, lack of human capital and hard currency...

The objective of this study is to analyze current and likely future impacts of the issuance of New Turkish lira (YTL) denominated borrowing instruments by many global financial institutions around the major financial centres. These bonds are strong source of evidence for international confidence...

This paper discusses electronic money, its relation to free banking and some implications for central banking. It begins by introducing its conceptual framework for modern central banking, in terms of which it then rehearses the free banking argument. It then reviews the development of e-money...

Most of the available literature on economic and monetary history deals with the advanced countries of Western Europe and the United States of America. The monetary and financial history of South-Eastern Europe, however, is still largely unexplored. So far, historical study of the monetary...

The early stages of banking and finance in Turkey were one of its brightest periods, even though it was the toughest because of lack of capital and unfavourable initial conditions. The finance and banking conception was quite rational and potential crises were eliminated through careful choices....

A proper understanding of the term lender-of-last-resort shows that there can be no international version. After outlining the nature of financial crises, the lender-of-last-resort is defined, and its origins traced in the history of thought and in British experience in the nineteenth century. A...