In this paper, we use new historical data on the most popular stocks traded at the Istanbul 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...

In this paper, we use new historical data on the most popular stocks traded at the çIstanbul 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...

1914 ve 1918 yılları arasında, Osmanlı İmparatorluğu iktisadi anlamda yıkım yaratan Birinci Dünya Savaşı’na dahil olmuştu. Savaşın sonunda ülke işgal edilmiş ve işgal kuvvetleri ile çatışmalar ortaya çıkmıştı. Tarihsel çalışmalarda, Osmanlı İmparatorluğu’nun...

Between 1914 and 1918, the Ottoman Empire was involved in the First World War, which caused economic disruptions, huge budget deficits, surmounted inflation rates and excessive devaluation of Lira, the Ottoman currency. Based on the value of Lira against the currencies of three selected...

Inefficiencies in fiscal and monetary systems of the Ottoman Empire led to higher debt burden over time and the bankruptcy for the Ottoman state in 1875. To deal with these inefficiencies, reforms were implemented, as supervisory organizations were established during the default period. We ask...

This paper tests how default of a government is reflected in a bond market prior to its declaration to the public. There was an unsettled discussion on that the Ottoman moratorium was not surprise. The price of the General debt bond traded at the çIstanbul bourse of the Ottoman Empire between...

This study asks how the Ottoman bondholders traded at the Paris stock exchange evaluated the outcomes of tax and constitutional reforms, based on the data for the most traded bond's price, i.e., the Turkish unified bond, at the Paris stock exchange from 1903 to 1909. The reforms aimed at higher...

In the literature, there are few studies on the impacts of the railroad construction in the Middle Eastern countries as well mixed findings. Using the data on the population of judicial districts in the Ottoman Empire between 1893 and 1914, we examine the relationship between railroad access and...