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A proposal for an integrated real estate system in Turkey with reference to “The mystery of capital”

Author

Listed:
  • Ali ALP

    (Tobb Ekonomi ve Teknoloji Üniversitesi)

  • Alper ÖZKAN

    (Orta Doğu Teknik Üniversitesi)

Abstract

The Mystery of Capital written by Hernando De Soto in 2000 constitutes the framework of this study. Having brought a different perspective on the question of capital generation in developing countries, The Mystery of Capital has been the focus of academic debates since it was published. De Soto, in his famous book, discusses the question of why capitalism triumphs in the West and fails everywhere else and claims that capitalism triumphs in the West due to the integration of real estate assets into the economic system. According to De Soto, invisible property ownership can play a significant role in economic development of countries. In this article the ideas for integrating real estate assets into the economic system are discussed particularly for Turkish case with reference to De Soto’s framework. The possible guidelines for overcoming problems and establishing a proper real estate system that will contribute to the enlargement of capital markets in Turkey are highlighted throughout this study.

Suggested Citation

  • Ali ALP & Alper ÖZKAN, 2005. "A proposal for an integrated real estate system in Turkey with reference to “The mystery of capital”," Iktisat Isletme ve Finans, Bilgesel Yayincilik, vol. 20(234), pages 35-49.
    • Handle: RePEc:iif:iifjrn:v:20:y:2005:i:234:p:35-49
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