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After establishing the new Turkish State in 1923, the Ankara Government saw the truth that unless both political and economic independence were achieved, the national independence could not be won. In the early years after having a liberal appearance in Turkish Republic, because of the unproductiveness, the lack of an educated workforce and physical capital, the government started leading the economy. It tried to provide the accumulation of capital and establish state economic enterprises as pioneer in the economy. At the Economics Congress of Izmir, by aiming at the development in industry and agriculture, the government accepted that industrialization was the basis of economic development and modernization. So with state leading economy, the government reorganized the development bank of agriculture as T.C. Ziraat Bank to finance the farmers. The government established Türkiye Halk Bank to finance tradesmen, craftsmen and small and medium size enterprises. Moreover the government established the housing and construction bank in the name of Emlak and Eytam Bank to help the people in need of housing. They have special legislation and specialized duties. At the same time they were commercial banks. Founded by special legislation, these state Banks were intended to stimulate economic growth in farming, the trades and housing. The subject of this study is whether the credits given by T.C. Ziraat Bank, T Halk Bank and T. Emlak Bank are in accordance with the special legislation of these banks.In this study, the specialist banks which give credits and accept deposits were studied in main lines. Additionally, the importance of the agricultural development in the economic development was studied shortly. The backwards and forwards connectional impacts of the agricultural production in input and output tables of the economy and the rate of agricultural credits in the total credits of T.C. Ziraat Bank in years were explained. In addition to this, similar studies were done for T.Halk Bank and T.Emlak Bank. In these studies, the precendence and importance of industry in the Turkish Economy, the relations between the industry and the other sectors of the economy according to the input/output tables were central. The rate of specialized credits of T.Halk Bank given to tradesmen, craftsmen and small and medium size enterprises were also covered briefly. In accordance with this study, the amounts of the housing credits of T.Emlak Bank in Bank credits in years were researched in main figures. Moreover, the relations among the housing, the urbanization and the economic development in Türkiye were discussed shortly. In addition, the place of housing sector was showed in input/output tables of the sectors of the economy and the sectors which give inputs to housing sector were explained. The specialized credits of T.C. Ziraat Bank, T.Halk Bank and T.Emlak Bank together with commercial credits take place in the total credits of these Banks.As mentioned above these Banks were founded by special legislation in 1930's, and intended to support the sectors in accordance with their specialized duties. So they directed their credits to these sectors. Because it was necessary to set up or reorganize the national banks which should finance these sectors and should overcome the financial problems of the new State. Sharing the approach which was that the independent national State needed the national banking system, the goverment took measures. At the same time there were deficiency in funds and private capital of the private enterprise. Because the savings in private sector was not increased. So, in the controlled economy period in1930's, the new State aimed at setting up State Economic Enterprises qualified as banks. They would finance the national economy and support the economic development. Because the banking sector was able to create funds, it was clearly understood that the national economical development depends upon to the national financial institutions. Unless the financial sector was developed, the economy would not develop. As a consequence these Banks supported agriculture, tradesmen, craftsmen and small and medium size enterprises and housing under the directed economy conditions. They were also the state owned enterprises and completely suitable to the facts and necessities of the Turkish Economy in practising. Although the national banking sector intended to support these sectors, deficiency in funds prevented the economic growth. Although the importance of agriculture is diminishing within the economy an important part of the population still depends on agriculture. Unfortunately, there are investment deficiencies in industrial sector. The role of private sector should be increased in the development process. In 1984, the management and activities of the state economic enterprises were rearranged by the Decree No: 233 based on effectiveness and productivity. They were appraised within the framework of purposes in their legislation. They were also free in all the bank transactions, such as opening deposit accounts and giving credits including commercial credits, as trade banks. Consequently, these institutions were faced with commercial credit appliances and political effects. However, the rate of special credits in total credits seems quite high. In fact, there are commercial credits in special credits like the credits to Agricultural Sales Cooperatives. The real special credits should be increased. So, the rate of real specialized credits in total credits is able to be raised. Moreover these banks are not able to meet all the special credit appliances because of deficiencies in funds. The savings should be increased. In addition, by enhancing their capital structure, we raise the banks up the level of international standarts. So, they can gain stability.The organizational structure of these enterprises have to be supported against the political effects and interferences by legislative arrangements. These arrangements will be made to allow for more financing opportunities to be available. So the banks foster economic development. The real specialized credits in accordance with the specialized duties will finance small and medium size enterprises, trades and arising housing problem. If Support is not be given to the new financial instruments and services and institutions in capital market, the other financial alternatives and derivatives will not be developed. Consequently, the banks have a vital role to play in Türkiye as a developing country and channel money into economic growth. When the other financial instruments issues, the importance of banks in financial services will diminish as it has happened in developed countries. Banking sector was able to create funds by issuing new instruments after 1992, such as, asset backed securities, A type mutual funds, REPO. After the 1980's, a progress was made in Türkiye towards establishing the principles and fundamentals of an economy open to competition and market forces, liberalising foreign trade and capital movements and developing the domestic financial markets. According to the Seventh Five Year Development Plan, in order to reduce the share of public sector in financial sector and ensure the use of fund more efficiently with market forces, the privatization efforts towards public sector commercial banks with the exception of T.C. Ziraat Bank and T.Halk Bank will be seeded up. The public banks which are not in privatization process will be reorganized and their capital structure will be strengthened consistent with their specialized duties. w 155 |
