18 November 2020
“Is the Turkish Central Bank Independent?” as an Uninteresting Question
Yes, the Turkish Central Bank’s independence has been eroded in recent years. Yes, from 2016 until now, the Bank has had four different presidents (or governors, as they are called), which is unusual by all accounts. No, the Bank is therefore probably not independent — or as independent — as its Western counterparts. I do not find these somewhat trite but true statements about the Bank’s independence (or the lack thereof) terribly interesting. Not that they are unimportant, but because I think the erosion of the Bank’s independence is illustrative of deeper and far more curious attributes of competitive authoritarian regimes and how they sustain themselves (or fail at doing that). Continue reading >>
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