Cumhuriyet Dönemi Türk bankacılığı 1923-1950 (Ekonomik politikalar ve uygulamalar ile bankacılık faaliyetleri arasındaki ilişkiler)
AbstractRepublic of Turkey, received am economic structure from the- Ottoman Empire through transfer aad this ecoaomy was uader de veloped whea looked at it with all of its aspects. As a result of foreigen economic relations that continued for years, the economy of Turkey was in a state of exporting raw materials and receiving manufactured commodities. With respect to entrepreneurs the country had an extremely insufficient conditions. The first task of the cadre establishing the Republic was to solve the political and economic connections that resulted in Turkey's being dependent on outside nations. They have tried to create a class of entrepreneurs from the economic structure which was received thorough transfer. An the head of the list for most im portant factors preventing the success of this policy there was the lack of entrepreneurs having capital. Tha banking sector which could provide financial source to the economic development of the country was again under the dominance of foreigners. The administrators of Republic, during 1923-1929 period, because of the forces imposed on them by the provisions appearing in the Laus«aa« Agreement, had to implement an economic policy by basing on free trade and competition without regard to its being desirec or not. By supporting the private entrepreneurship as much as possible, they wanted to have private entrepreneurs to lead the economic development. However, the capital accumulation of Turkey and the economic structure were dependent on outside. This tra dition in the economic structure prevented the realization of the desired economic growth. During these years, the state, ia774 order to provide sources to the public investments deemed neces sary and to manage the plants owned by the State; while suppor ting the private enterprises with the means oî the state, estab lished some banks. However, because of insufficiency of these resources, the desired result could not be attained. To provide commercial credits mostly to the domestic and foreign commercial sections, many small and local banks were established. During 1923-1929 when the desired economic growth could not be attained because of the effects of many other reasons, the eco nomic policy which could be termed "liberal" to that date was abandoned and the policy of etatisim was adopted. The main ob jective of basing on a State Policy was to realize industriali zation, to develop the country, as early as possible. The indusfe- rjLalJf acilities desired to be established had to be realized by the State and with the state capital, because of the insufficiency of the capital of the private entrepreneurs who lacked experience and for such reasons as to have industrialization realized, as early as possible. To finance the investments and other public services to be undertaken by the state and to direct the monetary policies to be applied, during 1930-1935 period, such new state banks as Sümerbank, Etibank, Halk Bank, Bank of Municipalities and Central Bank were established. Since, the years in 1939-1944- period were mostly passed in a war environment and the economic activities directed more according to the war, these were the stagnant years when looked at the» from the banking angle. After 1944, the Turkish entrepreneurs having capital were those who benefited from the means created by the war environment. They had accumulated capital, gained knowledge and epperience during775 the years elapsed. It was observed that, they stronger state. To that date (other than the îş Bank which received the concealed and publicly known support of the State) there were banking institutions which did not go outside of the city where they were founded and they were lacking power with respect to organi zation and capital. But, a period of private capital banking, ready to enter into operation, was observed after this, not only in banking, but also in other economic fields. Between 1923-1950, the share of foreign banks in the Turkish banking sector decreased gradually. The place vacated by the foreign banks was filled by a state specialization bank each having expertise in a different field. At the end, the banks established by private capital owners could not come out as organi zations and in real sense of the term, they did not have capital accumulation, power and could not give direction to the economy, Those establishing Turkey of the Republic period, were not only the ones financing the trade but also desired to have development of a national banking that was needed by public and to assist to the development of the economy for showing interest to all kinds of economic activities. However, based on many reasons the reasons, the insufficiency of capital which formed the one of the basic reasons, this desire was not realized.