Use/Misuse of Chinese Bri Investment? Bri-Related Crony Capitalism in Turkey
| dc.contributor.author | Yildirim, Nilgun Elikucuk | |
| dc.contributor.author | Yilmaz, Gozde | |
| dc.contributor.author | Eliküçük Yildirim, Nilgün | |
| dc.date.accessioned | 2024-07-05T15:24:23Z | |
| dc.date.available | 2024-07-05T15:24:23Z | |
| dc.date.issued | 2022-08-24 | |
| dc.description | Elikucuk Yildirim, Nilgun/0000-0002-4006-1401; Yilmaz, Gozde/0000-0003-3015-568X | en_US |
| dc.description.abstract | Crony capitalism as a type of capitalism entailing the close relations of political authorities and business circles based on mutual profit maximization is not a new phenomenon in Turkey. However, crony relations have accelerated with the Justice and Development Party (Adalet Kalkinma Partisi - AKP) rule. Despite growing scholarly work on crony relations in the AKP era, the literature remains inward-oriented without analysing the external dimension of crony capitalism, which this article intends to alleviate by providing an analysis of crony capitalism and bringing back the external dimension through an analysis of Belt and Road Initiative (BRI)-related crony relations. It argues that the case of Turkey demonstrates how the BRI is used to feed instrumental cronyism without the promotion of China and how recipient countries use and misuse Chinese BRI investments to create alternative resources for the government's cronies. | en_US |
| dc.description.sponsorship | Sri Lanka’s Hambantota port project is another important example of how BRI projects turn into tools of cronyism for the political elites of host countries (Ferchen and Perera , 1–2). The Sri Lanka Port Authority signed a joint venture agreement with a Chinese SOE to develop the Hambantota port, and the funding for the project was provided by Exim Bank of China. However, this unsound mega-project eventually turned into a debt crisis, and Sri Lanka could not pay its debts to Exim Bank. China’s provision of a rescue package for Sri Lanka by leasing the Hambantota port for 99 years (Panda ) has led to discussions of China’s takeover of strategic ports through debt-equity swaps. However, there is another story behind this port failure, as the port was a part of Sri Lanka’s own development strategy and was not offered by China (Jones and Hameiri , 13). Furthermore, the Sri Lanka Port Authority, as an inefficient state-owned company (Brautigam ), is also responsible for the outcome as it prioritized politics and corrupt decisions when bargaining with China (Ferchen and Perera ). | |
| dc.description.sponsorship | Exim Bank of China; Sri Lanka Port Authority | |
| dc.identifier.doi | 10.1080/14683857.2022.2114194 | |
| dc.identifier.issn | 1468-3857 | |
| dc.identifier.issn | 1743-9639 | |
| dc.identifier.scopus | 2-s2.0-85137011030 | |
| dc.identifier.uri | https://doi.org/10.1080/14683857.2022.2114194 | |
| dc.identifier.uri | https://hdl.handle.net/20.500.14411/2428 | |
| dc.language.iso | en | en_US |
| dc.publisher | Routledge Journals, Taylor & Francis Ltd | en_US |
| dc.relation.ispartof | Southeast European and Black Sea Studies | |
| dc.rights | info:eu-repo/semantics/closedAccess | en_US |
| dc.subject | BRI | en_US |
| dc.subject | China | en_US |
| dc.subject | crony capitalism | en_US |
| dc.subject | cronyism | en_US |
| dc.subject | Turkey | en_US |
| dc.title | Use/Misuse of Chinese Bri Investment? Bri-Related Crony Capitalism in Turkey | en_US |
| dc.type | Article | en_US |
| dspace.entity.type | Publication | |
| gdc.author.id | Elikucuk Yildirim, Nilgun/0000-0002-4006-1401 | |
| gdc.author.id | Yilmaz, Gozde/0000-0003-3015-568X | |
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| gdc.author.wosid | Elikucuk Yildirim, Nilgun/AAG-3156-2020 | |
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| gdc.description.department | Atılım University | en_US |
| gdc.description.departmenttemp | [Yildirim, Nilgun Elikucuk; Yilmaz, Gozde] Atilim Univ, Dept Int Relat, Ankara, Turkey | en_US |
| gdc.description.endpage | 383 | en_US |
| gdc.description.issue | 2 | en_US |
| gdc.description.publicationcategory | Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı | en_US |
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| gdc.description.startpage | 365 | en_US |
| gdc.description.volume | 23 | en_US |
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