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Foreign Bank Entry in the Late Ottoman Empire: The Case of the Imperial Ottoman Bank

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  • Hanedar Avni Önder

    (Department of Economics, Faculty of Business, Dokuz Eylül University, Kaynaklar Yerleşkesi Buca, İzmir 35370, Turkey)

Abstract

Before 1900, there were few foreign banks in the Ottoman Empire. The most important foreign bank was the Imperial Ottoman Bank. Many rival foreign banks established a presence over time, which could have undermined the power of the Imperial Ottoman Bank due to greater competition. This article examines how rival foreign banks affected the Imperial Ottoman Bank branches, using data on profits of these branches between 1895 and 1914. Empirical findings do not indicate that rival bank branches were related to lower profits for Imperial Ottoman Bank branches in the respective markets.

Suggested Citation

  • Hanedar Avni Önder, 2015. "Foreign Bank Entry in the Late Ottoman Empire: The Case of the Imperial Ottoman Bank," Review of Middle East Economics and Finance, De Gruyter, vol. 11(3), pages 207-223, December.
    • Handle: RePEc:bpj:rmeecf:v:11:y:2015:i:3:p:207-223:n:3
    DOI: 10.1515/rmeef-2015-0009
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    References listed on IDEAS

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    Cited by:

    1. Hanedar, Avni Önder & Yaldız Hanedar, Elmas, 2017. "Stock market reactions to wars and political risks: A cliometric perspective for a falling empire," MPRA Paper 85600, University Library of Munich, Germany, revised 25 Mar 2018.
    2. Elmas Yaldiz Hanedar & Avni Önder Hanedar & Ferdi Çelikay, 2017. "Effects of reforms and supervisory organizations: Evidence from the Ottoman Empire and the Istanbul bourse," Working Papers 0112, European Historical Economics Society (EHES).

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