Abstract
The aim of this paper is to present the key challenges and structural constraints as well as potential strategies toward de-carbonization and the green transformation in Turkey, and to argue that the current mode of global finance in many ways conspires to constrain Turkey’s quest for a sustainable and green industrial policy. I consider Turkey’s conundrum against the backdrop of its speculation-led growth patterns and ongoing fossil fuel-based production cycle and highlight the tradeoffs and dilemmas of the pursuit for green abatement policies, given the logic of financialization.
Disclosure statement
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Notes
3 See Akyüz and Boratav (Citation2003), Boratav, Yeldan, and Köse (Citation2002), Yeldan (Citation2022), Ertuğrul and Selcuk (Citation2002), Cizre-Sakallioglu and Yeldan (Citation2000), and Orhangazi (Citation2020) for a thorough overview of the post-1990 Turkish macroeconomic history. Biçcr and Yeldan (Citation2003), Oniş and Aysan (Citation2000), and Yentürk (Citation1999) provide similar analyses based on the effects of international speculative financial capital flows on the Turkish economy. Somel (Citation2003) and Yeldan (Citation1995, Citation1998), in turn, discuss the characteristics of the post-1990 Turkish macro adjustments in terms of creation and absorption of the economic surplus, and provide a quantitative analysis on the strategic role played by the state apparatus.
6 In a Decree dated 10 November 2018, hydro-electric power stations were later added to the TRKM coverage.
9 Nevertheless, Turkey was still reluctant to ratify the Paris INDC Agreement in its parliament even as late as October 2021. Turkey was among the few remaining countries not to be a party to the Agreement at that point, along with Eritrea, Libya, Iraq, Iran and Yemen.
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