The article is organised as follows. Section 2 reviews Turkey's post-crisis performance as reflected in standard macroeconomic indicators. This section demonstrates that Turkey's economic performance under the AKP government was clearly impressive – especially compared to previous periods....

In this chapter, we aim to establish whether liberalization and accompanying regulatory arrangements have delivered the expected efficiency gains. In section I, we discuss the theoretical issues and demonstrate that ‘marketable' yet simplistic arguments in favour of liberalization tend to...

In this article, I will examine the post-Helsinki period in EU-Turkey relations with a view to address two questions. First, has the Helsinki decision been effective in resolving the anchor/credibility dilemma in EU-Turkey relations? Second, what has changed between the Helsinki decision of 1999...

This paper is a stock-taking exercise that brings together existing findings and new insights on the potential costs and benefits of EU membership for both Turkey and the EU. As far as Turkey is concerned, we focus on the costs and benefits of EU membership that are likely to result from...

We examine the implications of imperfect information for corporate governance quality and stakeholder loyalty. We establish that imperfect information is conducive to lower levels of corporate governance quality and/or stakeholder loyalty compared to the benchmark of perfect information. Under...

This paper empirically analyses the stability of the money demand function in Turkey for the period 1950-2002. As part of the IMF-sponsored stabilisation programme, Turkey has been pursuing base money targets and preparing to move to direct inflation targeting. To ascertain whether this policy...

The aim of this paper is to investigate the relationship between market power, governance and patenting activity in a sample of 25 OECD countries from 1988-2007. Controlling for a wide range of innovation predictors, we report that governance quality is related positively with patenting activity...

This paper analyses whether stock markets of South East Europe (SEE) have become more integrated with regional and global stock markets during 2000s. Using a variety of co-integration methodologies we show that SEE stock markets have no long-run relationship with their mature counterparts. This...

Existing research on the relationship between market concentration and innovation has produced conflicting findings. In addition, the emerging literature on the relationship between corporate governance and innovation tends to focus only on partial effects of corporate governance on innovation....

We introduce new studies that argue in favour of: (i) according a central role to governance and regulation as potential determinants of innovation; and (ii) analysing the effects of governance and regulation on innovation in conjunction with the effects of the market structure. These studies...