Özgür Orhangazi is professor of economics at Kadir Has University in İstanbul, Turkey. He is the author of Financialization and the U.S. Economy (Edward Elgar, 2008) and Türkiye Ekonomisinin Yapısı (The Structure of the Turkish Economy, İmge, 2020). Orhangazi has also published numerous articles and book chapters on financialization, financial crises, monopolization tendencies as well as various aspects of the Turkish economy. He taught at Roosevelt University in Chicago, City University of New York, University of Seoul, Boğaziçi University and served as an external Ph.D. committee member at New School, University of Missouri Kansas City, and İstanbul University.

January 27, 2024


The Falling Lira

Turkey’s state of permanent crisis

Since late 2021, the Turkish economy has been shattering conventional economic expectations. With deeply negative real interest rates, high inflation, a large and persistent current account deficit, an external debt stock exceeding 50 percent of GDP, and a central bank…