Islamist capital accumulation has split the Turkish bourgeoisie and polarized Turkish society into secular and religious social groupings, giving rise to conflicts between the state and political Islam. By providing a long-term historical perspective on Turkey's economy and its relationship to...

This paper studies the impact of firms' public management guidance on their ability to meet or beat analysts' consensus forecasts. The model set forth here accounts for endogeneity of firms' management earnings forecast issuance to examine whether their public management guidance raises their...

We develop a structural dynamic demand model that examines how brand preferences evolve when consumers are uncertain about product quality and their needs change periodically. We allow for strategic sampling behavior of consumers under quality uncertainty and allow for strategic sampling to...

The ongoing financial crisis that started in the summer of 2007 has been a crisis not only of traditional banks but also of shadow banks. In response to the crisis, the G20 created the Financial Stability Board (FSB) – successor of the Financial Stability Forum established by the G7 in 1999...

Although India has been ‘reforming' since 1991, almost nobody seems to be satisfied with either the progress or the outcome. The reformers need to put the economy's long-term interests above financial sector short-termism, reorganise the domestic financial system to keep credit productive and...

One of the several regulatory failures behind the global financial crisis that started in 2007 has been the regulatory focus on individual, rather than systemic, risk of financial institutions. Focusing on systemically important assets and liabilities (SIALs) rather than individual financial...

Focusing on the institutional challenges to financial inclusion in Andhra Pradesh, this paper argues that it is the inability of formal financial institutions to meet the specific needs of the poor that has enabled informal service providers to fill the vacuum. Without a paradigm shift,...

We study the role of Business Correspondents in the current day expansion of banking services in Chittoor, Kurnool and Mahabubnagar Districts of Andhra Pradesh. Our objective is a critical look at the Reserve Bank of India attempt of “ensuring greater financial inclusion and increasing the...