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Development of Capital Markets in Turkey and Analysis of Financial Structure of the Intermediary Institutions

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  • Fikret Kartal

    (Birlesik Fon Bank, Turkey)

Abstract

Capital markets, where demand and supply for medium to long term finance meet, are more active and efficient in higher income countries. Capital markets are insufficiently developed in emerging countries such as Turkey that have the structural and institutional obstacles and lack of capital. The first market with securities was established in 19th century in the Ottoman Empire; the Turkish capital markets have gone through the reform programmes as a part of liberalization started in 1980; but the banking sector constitutes the biggest part of the financial sector. The paper presents the development of capital markets in Turkey and analyzes the intermediary institutions by using the financial statements and ratios for the period December 2007-December 2011.

Suggested Citation

  • Fikret Kartal, 2013. "Development of Capital Markets in Turkey and Analysis of Financial Structure of the Intermediary Institutions," Eurasian Journal of Business and Management, Eurasian Publications, vol. 1(1), pages 1-14.
    • Handle: RePEc:ejn:ejbmjr:v:1:y:2013:i:1:p:1-14
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    References listed on IDEAS

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