Time: 13:00-15:00 (UK Time), Wednesday, 17 January 2024
Presenters: Dr. Mehmet Kerem Coban, SOAS University of London; Dr. Dora Piroska, Central European University, Vienna; Dr. Fulya Apaydin, IBEI, Barcelona
Chair: Prof. Victor Murinde, SOAS University of London
Online venue: Click here to join the seminar on Microsoft Teams (For any inquiry about how to join the online seminar, please contact Dr. Meng Xie at xm1@soas.ac.uk)
Abstract
Shallow financial markets and subordinate position in the global financial hierarchy locate the local banking sector in emerging capitalist economies at the centre of the domestic financial ecosystem. This paper studies the trajectory of the relative position and the role of the domestic banking sector in Hungary and Turkey where Orban and Erdogan have made various attempts to control politically the banking sector. The paper argues that both leaders have instrumentalized the banking sector to sustain economic growth and serve their political and economic constituencies. Yet instrumentalization occurred through two distinct patterns: Orban instrumentalized the banking sector for fiscal policy purposes, while Erdogan did so to ensure partisan business access to cheap credit. These distinct patterns reveal varying means and strategies of authoritarian regime survival that is subject to the constellation of coalitional politics and subordinate position in the global financial hierarchy.
Keywords: Subordinate financialisation, growth models, banking, instrumentalisation, Hungary, Turkey
Presenters
Dr. M. Kerem Coban, SOAS, University of London & Kadir Has University
M. Kerem Coban is a Lecturer in Public Policy & Management at the School of Finance and Management, SOAS, University of London. At the same time, he is an Adjunct Assistant Professor (Network Scholar) in the Department of Political Science and Public Administration, Kadir Has University, an Associate Member of LAGAPE, University of Lausanne. He is also the Assistant Editor of the Australian Journal of Public Administration and Editorial Assistant (Social Media) of Policy and Society. His current research focuses on regulatory governance with a focus on change/stability in policies, institutions by examining the interactions between interest groups, the executive, and bureaucracy with a particular focus on the regulation of the financial sector. His single- and co-authored work have appeared in Journal of Financial Regulation, Policy and Society, Business and Politics, Interest Groups & Advocacy, Public Administration, Review of International Political Economy, Policy Sciences. He also has contributed to several edited volumes with single- and co-authored chapters and research encyclopedia chapters.
Dr. Fulya Apaydin, IBEI, Barcelona
Fulya Apaydin is an Associate Professor in Institute Barcelona d’Estudis Internacionals (IBEI), Barcelona, Spain. She holds a PhD from Brown University in Political Science. Her research adopts an interdisciplinary framework, combining teachings of CPE, IPE, and economic sociology. Broadly, she is interested in exploring the political underpinnings of capitalist market building in the Global South, paying special attention to how local actors respond to international pressures. Fulya’s work has been funded by Brown University, Josephine de Karman Fellowship Trust, AXA Research Fund and Spanish Ministry of Science and Competitiveness. She is the author of Technology, Institutions and Labor: manufacturing automobiles in Argentina and Turkey (Palgrave, 2018). Her research has been published in Regulation and Governance, Review of International Political Economy, Socio-Economic Review and World Development, among others. Her current focus is on financialization and regime survival trajectories, problematizing private debt regimes in emerging market economies.
Dr. Dora Piroska, CEU, Vienna
Dr. Dóra Piroska is Assistant Professor at the International Relations Department of Central European University, Vienna, Austria. She holds a PhD. from the CEU in Political Science/IR track. Her research focuses on the international political economy (IPE) of banking and finance and development finance. She has a particular interest in the Eastern Central European region. She has published extensively on European financial regulations including the Banking Union, macroprudential regulation, the Regulatory Sandbox for fintech. Recently, she published on development banking in Hungary and Poland, the European Investment Bank (EIB), and the EBRD. She also investigated theories of financial nationalism, financial power, and democracy. She co-edited a book on János Kornai’s scholarship with Miklós Rosta (CEU Press). She published in Review of International Political Economy, JCMS: Journal of Common Market Studies, New Political Economy, Competition and Change, Journal of Economic Policy Reform, Policy and Society, Third World Thematics: A TWQ Journal, Europe-Asia Studies, Journal of European Integration, in thematic volumes with Routledge, Oxford University Press, Edward Elgar, and in several Hungarian outlets.