Researcher: Bakır, Caner
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Bakır, Caner
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Publication Metadata only Finance and monetary policy styles(2021) Department of International Relations; N/A; Bakır, Caner; Çoban, Mehmet Kerem; Faculty Member; Researcher; Department of International Relations; N/A; The Center for Research on Globalization, Peace, and Democratic Governance (GLODEM) / Küreselleşme, Barış ve Demokratik Yönetişim Araştırma Merkezi (GLODEM); College of Administrative Sciences and Economics; N/A; 108141; 346796This chapter explains the trajectory of finance and monetary policy styles and policies produced since 1945. It examines three policy styles: hierarchical-proactive (lasting from 1945 to the early 1970s), consensual-reactive (prominent from the late 1970s through the GFC), and the refined type of the consensual-reactive style (emerging in the post-GFC context). It argues that finance and monetary policy have transformed from heavy state control in the wake of the Second World War to an industry-dominant pressure pluralist mode in the post-GFC era, demonstrating a mere refinement of the consensual-reactive style despite the re-emergence of the state in crisis management policies. The chapter shows that shifts in styles took place as financial crises challenged the legitimacy of policy styles, monopoly of policy subsystems, and policy paradigms.Publication Metadata only Why does the combination of policy entrepreneur and institutional entrepreneur roles matter for the institutionalization of policy ideas?(Springer, 2021) Akgunay, Sinan; Department of International Relations; Bakır, Caner; Çoban, Mehmet Kerem; Faculty Member; Researcher; Department of International Relations; The Center for Research on Globalization, Peace, and Democratic Governance (GLODEM) / Küreselleşme, Barış ve Demokratik Yönetişim Araştırma Merkezi (GLODEM); College of Administrative Sciences and Economics; 108141; N/APublic administration, public policy, and political economy literatures are increasingly preoccupied with the role of agency in policy and institutional change, and the effects of institutions on the agency of individual actors. However, linkages between policy and institutional entrepreneurship in processes of institutionalization remain a black box. This article aims to fill this void. It contributes to our understanding of processes underlying the institutionalization of policy ideas in the public sector that have not been investigated adequately. Based on an exploratory case study of the introduction and institutionalization of macroprudential policies to contain macro-financial risks in Turkey, this article argues that policy and institutional entrepreneurship processes are inextricably intertwined and fundamental to the institutionalization of policy ideas: the institutionalization of new policy ideas that resolve conflicting institutional logics and facilitate cooperation and/or collaboration in inter-bureaucratic policy formulation and implementation is most likely when an individual agent with the requisite resources and capabilities builds coalitions through combining the policy and institutional entrepreneur roles while undertaking discursive and powering strategies.Publication Metadata only The regulatory state and Turkish banking reforms in the age of Post-Washington consensus(Wiley, 2010) Department of International Relations; Department of International Relations; Bakır, Caner; Öniş, Ziya; Faculty Member; Faculty Member; Department of International Relations; College of Administrative Sciences and Economics; College of Administrative Sciences and Economics; 108141; 7715The new era of the Post-Washington Consensus (PWC), promoted under the auspices of International Financial Institutions such as the International Monetary Fund and the World Bank, centres on the need to develop sound financial regulation and strong regulatory institutions, especially in the realm of banking and finance in post-financial crisis developing countries. This article uses an examination of the Turkish banking sector experience with the PWC in the aftermath of the 2001 financial crisis to show its considerable strengths and weaknesses. The authors argue that the emergent regulatory state in the bank-based financial system has a narrow focus on strengthening prudential regulation, whilst ignoring the increased 'financialization' of the Turkish economy. They identify the positive features of the new era of the PWC in terms of prudential regulation, which has become much more robust in its ability to withstand external shocks. At the same time, however, the article highlights some of the limitations of the new era which resemble the limitations of the PWC. These include the distributional impact of the regulatory reforms within the banking sector, and notably the emergence of foreign banks as the major beneficiaries of this process; weaknesses in promoting productive bank intermediation that finance the real economy and economic growth, leading to poverty reduction via growth of employment whilst stimulating financialization within the economy; and finally, the exclusive focus on prudential regulation, whilst ignoring regulatory costs, consumer protection and competition regulation.Publication Metadata only What does comparative policy analysis have to do with the structure, institution and agency debate?(Taylor and Francis Ltd, 2022) Department of International Relations; Bakır, Caner; Faculty Member; Department of International Relations; College of Administrative Sciences and Economics; 108141A growing number of political and policy scientists have utilized institutional theory to explain how the purposeful actions of agents shape and are shaped by structural, institutional, and agential factors. Most current studies, however, have conflated and/or combined the fundamental concepts of structure, institution, and actor, overlooking how their interactions shape policy and institutional outcomes. Furthermore, such research lacks an approach that allows a more comprehensive means to integrate the various dimensions of such interactions. By studying these distinct but interdependent causal factors through an integrative approach, we provide a richer, more comprehensive understanding of contingent conditions, agency, and outcomes.Publication Metadata only Wobbling but still on its feet: the Turkish economy in the global financial crisis(Taylor and Francis Ltd, 2009) Department of International Relations; Bakır, Caner; Faculty Member; Department of International Relations; College of Administrative Sciences and Economics; 108141This paper examines the Turkish economy in a world of current global financial crisis. It shows that Turkey's key economic strengths include relatively prudent fiscal balances and a resilient banking sector. Key economic weaknesses include non-financial private sector foreign debt rollover risk, substantial household indebtedness where the unemployment rate is rising, an overvalued Turkish lira with its potential for rapid depreciation, and contracted growth and demand for Turkish imports. Turkey needs formal and informal institutional flexibility to prioritise social welfare spending and fixed capital investments by the public sector, rather than an exclusive preoccupation with price stability via monetary and fiscal discipline.Publication Metadata only Institutional and policy change: meta-theory and method(Palgrave, 2018) Jarvis, D. S. L.; Department of International Relations; Bakır, Caner; Faculty Member; Department of International Relations; College of Administrative Sciences and Economics; 108141Publication Metadata only Emerging market multinationals in Europe(Taylor and Francis, 2016) Brennan, Louis; Department of International Relations; Bakır, Caner; Faculty Member; Department of International Relations; College of Administrative Sciences and Economics; 108141N/APublication Metadata only Emerging multinationals in Europe what have we learnt?(Routledge, 2016) Brennan, Louis; Department of International Relations; Bakır, Caner; Faculty Member; Department of International Relations; College of Administrative Sciences and Economics; 108141Emerging multinational corporations (EMNCs) are a new and powerful force in global competition and are challenging the incumbency of much older global companies from the developed world. In 2014 MNCs from developing economies alone accounted for a record share of 35 percent of global FDI. The aim of this book has been to improve our understanding of EMNCs’ behaviour in Europe. The preceding chapters of the book have provided a range of perspectives on this behaviour. In this concluding chapter, the main findings are summarised under four main headings: Characterising and quantifying EMNCs in Europe; Drivers, motivations, and strategies of EMNCs in Europe; Country-specific EMNCs in Europe; and Country and industry studies.Publication Metadata only Bargaining with multinationals: why state capacity matters(Routledge Journals, Taylor & Francis Ltd, 2015) Department of International Relations; Bakır, Caner; Faculty Member; Department of International Relations; College of Administrative Sciences and Economics; 108141Dominant models of bargaining between states and multinational corporations (MNCs) have widely held that bargaining relations, especially in high-technology manufacturing, have changed from confrontational to cooperative. It is consequently argued that there is little formal entry bargaining among these actors. However, there are three primary weaknesses in this literature. First, the understanding of outcomes is limited to the terms of investment agreements. This static view ignores the dynamics of bargaining processes and decisions not to invest, which also deserve explanation. Second, it is MNC-centric, ignoring state's privileged role in relation to the governance of entry bargaining in domestic policy-making processes. Third, it views state as a monolithic entity, ignoring the bargaining that occurs inside states. To redress these issues, this article offers a state-centric bargaining model. It identifies administrative and institutional capacity as two critical components of state capacity. It chooses the entry bargaining from 2005, when Hyundai Motors Corporation considered establishing a USD1.5 billion car-manufacturing plant in Turkey. It shows that state capacity in the governance of a domestic policy-making process affects the outcome of entry bargaining: When state capacity is weak, an MNC's decision not to invest is a more likely outcome.Publication Metadata only How can interactions among interdependent structures, institutions, and agents inform financial stability? What we have still to learn from global financial crisis(Springer, 2017) Department of International Relations; Bakır, Caner; Faculty Member; Department of International Relations; College of Administrative Sciences and Economics; 108141How national financial systems can avoid costly banking crises is a persistent and intriguing question for institutional scholars and policymakers worldwide. In this context, although considerable research has recently focused on structural, institutional, and agency-level factors in explaining the global financial crisis, it mostly offered each of these explanatory factors in isolation, thus leaving interactions among these interrelated factors incomplete. Building on a deviant case study on Australian exceptionalism examined in a comparative perspective, this paper introduces an integrative framework that views financial stability as a function of these interactions that reinforce prudent financial behavior. In doing so, it offers an insight into the previous research on institutional complementarity and how to guard against similar crises in the future. It suggests that financial stability (instability) is more likely when interactions among structural and institutional complementarities and agents reinforce conservative (opportunistic) banking.