Ufuk Tutan, Assistant Professor at İzmir University of Economics, with his student Nilay Yaraşıklı, will give a presentation at an international conference on economics at the Sorbonne University, Paris, France.
The fourth year student, Nilay Yaraşıklı declared that they had analyzed the past, present and future of the banking sector in Turkey which is now under the control of foreign investment. Recently, high interest and the exchange policy, the main contributer to the welfare of the economic position in Turkey has made foreign dept attractive.
Thus, Turkish local trade-banks are in a position where they prefer loans from foreign banks.foreign exchange. Due to the economic crisis in the years 1999 and 2001 banks were privatized and sold to foreign investers. Consequently, 40 % of Turkish banks are now under the control of foreign capital. In the last 5 years, the EU and America have increased their control over Turkish banks from 2 % to 30 %, and this has raised many questions, such as what the effects of this situation will be on Turkey, why the foreign banking sector is so interested in the Turkish sector and what kind of strategies Turkey will follow under these circumstances.
Assistant Professor Ufuk Tutal has done statistical research on the present and future performance of the banking sector in Turkey for his presentation.Tutal stated, ‘I will present these facts with my sudents and my American insructor A.L Campbell at Sorbonne University in Paris, between 3-6 October. I believe that Nilay will be very succesful when she graduates.’
Nilay Yaraşıklı says that she will continue studying on the economy of developing countries as well as the Turkish economy.