A take by economists on racism in the US

The trial of Ali İsmail Korkmaz, the university student who fell into a coma after getting beaten by plainclothes police officers during the Gezi protests and died 38 days later, continued last week. Across the Atlantic, a Missouri grand jury decided not to indict a white police officer over the fatal shooting of an unarmed […]

Turkey: The Sultan’s Speech

The politician formerly known as PreSinister (President Prime Minister), and currently self-proclaimed Sultan, Recep Tayyip Erdoğan gave a great speech this week that summarized two key issues of the Turkish economy better than I could have in a dozen columns. Speaking at the “Women and Justice Summit,” hosted by the Women and Democracy Association (KADEM), […]

Why Muslims Fell Behind Economically

I really do not know if Muslims were in the Americas three centuries before Christopher Columbus, as President Prime Minister Recep Tayyip Erdoğan first claimed, and then vehemently defended, last week. They may well have been. After all, before falling behind, Islamic civilization was at least as advanced as Christian medieval Europe. Economist Angus Maddison […]

Turkey: The markets’ Cinderella Man

Seen as one of the most vulnerable emerging markets (EMs) not too long ago, Turkey is on a Cinderella run, attracting significant capital inflows. Foreigners’ net equity and bond investments rose by $0.9 and 1.4 billion respectively during the last four weeks. Here is the intro. to my latest Hurriyet Daily News (HDN) column, where […]

Demystifying Turkish UFOs

I can hear you say it: “He finally lost it.” Nope, I have not gone completely nuts. I haven’t smoked anything that would make me see UFOs, either. I am talking about Turkey’s Unidentified Financing Objects. Here is the intro. to my latest Hurriyet Daily News (HDN) column, where I take on the first of […]

Six puzzles of the Turkish economy

I have been burning a lot of brain cells of late on six puzzles of the Turkish economy. I have already made some way into solving some of them, while I am still baffled by others. I will simply state them today, with the hope of sharing my answers over the course of the next […]

Lessons from the fall of the Wall for Turkey

If you fell into a coma in East Germany in October 1989 and woke up a few months later – like the protagonist’s mother in the German movie “Good Bye Lenin!” – you would find yourself in a completely different country. This is the introduction to my latest Hurriyet Daily News (HDN) column, where I […]

Turkey: I see debt people

In my latest Hurriyet Daily News (HDN) column, I argue (with data, as usual) that despite the recent pullback in credit growth, debt is still an important issue in Turkey. I show why low stocks of debt are misleading, and that several indicators point to a growing problem. Anyway, you can read the whole thing […]