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Private Sector Development

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The Political and Economic History of North Cyprus

Part of the book series: Palgrave Studies in Economic History ((PEHS))

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Abstract

The contribution of private sector to economic development has latterly become important, although the analysis here shows that contribution to have been ‘too little too late’ in northern Cyprus has been minimal. One of the causes of the lack of development, claimed by local politicians, was the European Court of Justice decision restricting imports from northern Cyprus. These causes are discussed and their impact on northern Cyprus assessed, as well as assessments of other key private sectoral developments such as tourism, agriculture and higher education. The key financial institutions, the Central Bank and the Development Bank, are also examined here, as symptomatic of the widespread contradiction between supposedly independent governance on the one hand and venal clientelism and rentierism on the other hand, all showing the weak development of this discordant polity.

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Notes

  1. 1.

    M.A. No: 4/1/94, 13.7.1994.

  2. 2.

    TRNC Parliament Proceedings, 13 July 1994a, p. 4286.

  3. 3.

    Ibid., p. 4288.

  4. 4.

    Ibid., p. 4299.

  5. 5.

    Ibid., p. 4300.

  6. 6.

    TRNC Parliament Reports, 25 July 1994b, p. 4686.

  7. 7.

    Ibid., pp. 4662–4666.

  8. 8.

    SPO (1982), p. 114.

  9. 9.

    Ibid., p. 43.

  10. 10.

    Ibid., p. 120.

  11. 11.

    Ibid., p. 121.

  12. 12.

    Ibid., pp. 140–141.

  13. 13.

    Turkish Cypriot Administration, Agriculture and Natural Resources Membership, Status of Agricultural Sector, 1970 Activities Report, Nicosia, p. 48.

  14. 14.

    SPO (1977), p. 36.

  15. 15.

    Ibid., p. 37.

  16. 16.

    Agriculture Census Results [Tarim Sayim Sonuclari], 2011. State Planning Organization, Statistical and Research Office, January 2015.

  17. 17.

    We are grateful to Symeon Matsis who provided this information based on data he obtained from the Tourism Office of the Republic of Cyprus.

  18. 18.

    SPO (2016), Table 35.

  19. 19.

    Ibid., Table 27.

  20. 20.

    Please see the following two links on claims of money laundering in northern Cyprus: https://www.state.gov/j/inl/rls/nrcrpt/2015/vol2/239069.htm and https://www.reuters.com/article/us-cyprus-turkish-crime/isolated-turk-cypriots-try-to-clean-up-image-idUSL1119544420080211.

  21. 21.

    Mehmet (2009), p. 4.

  22. 22.

    The date on the bill was 24 June, but the date on the Parliament Reports is 27 June. All the information in this box are obtained from TRNC Parliament Proceedings, 27 June 1983.

  23. 23.

    These three major banks also had 2.7 million CYP blocked at the RoC central bank (p. 21).

  24. 24.

    Alpay Durduran, TRNC Parliament Proceedings (27 February 1990), p. 6812.

  25. 25.

    Ekici (2009), p. 179.

  26. 26.

    Safakli (2003), p. 224.

  27. 27.

    SPO (1977), p. 25.

  28. 28.

    SPO (1982), p. 372.

  29. 29.

    TRNC Central Bank Bulletin, No. 14, Table 9, December 1990.

  30. 30.

    Gunsel (2012).

  31. 31.

    Safakli (2002), p. 110.

  32. 32.

    Ibid., p. 112.

  33. 33.

    Ibid., p. 113.

  34. 34.

    There is a YouTube video in Turkish at https://www.youtube.com/watch?v=gIl80oLJ80w.

  35. 35.

    All the details in this box are obtained from TRNC Parliament Proceedings, 28 July 2000b.

  36. 36.

    Diler (2015), pp. 185–186.

  37. 37.

    Ibid., p. 187.

  38. 38.

    http://kktckb.org/tr/index.php/tarihce-2/.

  39. 39.

    http://kktckb.org/tr/index.php/hizmet-veren-genel-mudurler/.

  40. 40.

    Ekici (2009), p. 215.

  41. 41.

    The data and the chart are available at http://kktckb.org/tr/index.php/kullandirilan-kredilerde-tahsilat-durumu/.

  42. 42.

    The percentage of establishments who received credits in industry, tourism and education areas are, respectively, 52.5%, 24% and 7.3%. The rest are under ‘Other’ category.

  43. 43.

    World Bank Report (2006), pp. 181–182.

  44. 44.

    One of the main financial resources of the Development Bank is the bonds purchased by the local banks that is required by the laws.

  45. 45.

    TRNC SCA (2013).

  46. 46.

    Ibid.

  47. 47.

    The entire report presented at the parliament and the corresponding discussions held can be found at TRNC Parliament Reports, Season III, Year 1997/4, Session 31, 24 January 1997.

  48. 48.

    TRNC Parliament Proceedings (27 December 1996), p. 2034.

  49. 49.

    TRNC Parliament Proceedings (24 March 2000a).

  50. 50.

    TRNC Parliament Proceedings (14 May 2001).

  51. 51.

    High Administrative Court (Yuksek Idare Mahkemesi, YIM) Decision, D.25/97, YIM 223/95, 27 November 1997.

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Authors and Affiliations

  1. William Paterson University, Wayne, NJ, USA

    Tufan Ekici

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Ekici, T. (2019). Private Sector Development. In: The Political and Economic History of North Cyprus. Palgrave Studies in Economic History. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-13479-2_8

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  • DOI: https://doi.org/10.1007/978-3-030-13479-2_8

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