Turkish Policy Quarterly Vol 8, No. 2 (Summer 2009)
"The Road to Economic Recovery in the Region"

Nigar Göksel

Nigar Göksel
ESI Senior Analyst

From the desk of the editor

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Suzan Sabancı Dinçer

Suzan Sabancı Dinçer
Suzan Sabancı Dinçer is the Chairman and Executive Board Member of Akbank .

This paper looks at the significance of Istanbul as host of the October Governors' meeting of the World Bank Group. This meeting in part reflects Istanbul's growing importance as a global financial node but also suggests a shifting balance of power towards emerging markets.The message of the Istanbul meeting should be that is in their own interests for the more developed world to listen to those nations least capable of coping with the aftermath of recession.

TPQ-article: "A New 'Istanbul Consensus'"

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Mark Mobius

Interview with Mark Mobius
Dr Joseph Mark Mobius is a global investor and emerging markets fund manager. He is president of the Templeton Emerging Markets Fund.

In this exclusive interview for TPQ, renowned global investor and emerging markets fund manager Mark Mobius shares his perspectives on the impact of the global financial crisis on emerging markets and sectors, with an emphasis on Turkey and Turkey's prospects.

TPQ-article: "Interview with Mark Mobius"

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Jens Bastian

Jens Bastian
Dr Bastian is a Senior Economic Research Fellow at the Hellenic Foundation for Foreign & European Policy.

Comparative precedents to this economic meltdown differ considerably between what was once called "the West" and "the East". For countries in Western Europe the point of reference most prominently associated with the recent developments is the Great Depression of 1929. But for former Comecon member countries the historical parallel does not date back that far. Rather it is found in and compared with the collapse of Communism and the initial experiences of economic transition in 1989-90.

TPQ-article: "Confronting the Crisis in Southeastern Europe"

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kristof Bender

Kristof Bender
Kristof Bender is deputy chairman of the European Stability Initiative (ESI).

Taking Bulgaria as an example, this article examines how the EU accession process transforms a key policy area - the environmental sector. Starting with a disastrous legacy and very weak institutions ten years ago, Bulgaria's environmental policies have been dramatically transformed in the decade preceding the country's EU accession in 2007. Although a number of the problems have not been (fully) overcome yet, Bulgaria now has the institutions and policy tools in place to address the remaining challenges. This stands in stark contrast to the situation in 1997 and illustrates what a powerful reform motor the EU accession process is.

TPQ-article: "Bulgaria's Quest to Meet the Environmental Acquis"

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Samvel Avagyan
Samvel Avagyan (PhD) is economic analyst at the Yerevan based "CAPITAL" business daily.

The Armenian economy had already been hit hard by the Russian Georgian war in August 2008 when the global financial crisis developed. Despite being protected by a strong banking system, the country experienced significant economic downturn. One of the reasons for this was the drop of remittances from Russia. This article describes these dynamics while also analyzing the government bailout program and investment plans.

TPQ-article: "The Global Financial Crisis and Armenia"

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Elshad Mikayilov

Elshad Mikayilov
Eshad Mikayilov works at the Caucasus Research Resource Center in Azerbaijan. He has a Master's in Public Policy from Central European University..

This article explores the impact of the global financial crisis on state policies, household incomes, the business environment and financial institutions of Azerbaijan. Providing an overview of Azerbaijan's economic basics as a background, the article compares current growth figures with the projections made before the crisis, evaluates the current government policies and makes recommendations for the future.

TPQ-article: "The Global Economic Crisis and Azerbaijan"

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Davit Narmania

Davit Narmania
Ali Ergur is an Associate Professor at the department of Sociology at Galatasaray University in Istanbul.

The new Georgian government embarked on a liberal economic policy. Tax laws have been simplified, the variety of licenses and permits has been reduced and procedures were simplified. The country started a massive privatization process and investment in infrastructure. The reforms carried out by the government ensured the growth of both economic and investment streams. However, as a result of the war in August 2008 and due to the economic crisis, economic activity in Georgia has significantly fallen back..

TPQ-article: "Georgia: Liberalization, Crisis and Change"

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Meri Yeranosyan

Meri Yeranosyan
Meri Yeranosyan is a researcher and the vice president of Advanced Social Technologies, based in Yerevan.

The article discusses the impact of the global financial crisis on the Armenian economy. It outlines the factors which allowed Armenia to largely surpass the direct impact of the global financial crisis. The slowdown of the Armenian economy was caused mostly by the decline in remittances from Russia, shrinking of the construction sector and reduced FDI inflows. Despite its negative impact, the global financial crisis offers an opportunity for Armenia to make sound changes and start the process of de-linking political and economic powers.

TPQ-article: "Armenia and the Tremors of the Crisis"

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Rana İzci
Rana İzci is Assistant Prof Dr at the Marmara University's European Union Institute in Istanbul .

Development concerns always stand at the heart of international environmental cooperation. Though some of the impacts of climate change are already visible and to a larger extent affect developing countries, adaptation and mitigation sometimes lag behind scientific evidence and projection. Mainstreaming climate policies into development planning is therefore essential, both for developed and developing countries to successfully adapt to the impacts of climate change. Turkey, after becoming a party to the United Nations Framework Convention on Climate Change (UNFCCC), has accelerated its efforts to take action with regard to climate change.

TPQ-article: "Turkey Towards a New Development Path"

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Kristin Mette
Kristin Mette is a researcher based in Brussels.

This article points out that current developments in Azerbaijan suggest that energy is being bought at the cost of Western principles and values. In light of recent developments that suggest deterioration of Azerbaijan's democratic credentials, this article argues that the women in Azerbaijan's civil society should be supported more in their struggle for democracy. It also makes the point that development aid to Azerbaijan will be more effective if more women are actively involved in economic activities.

TPQ-article: "Women in Azerbaijan: Democracy vs. Energy"

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