An analysis of global governance: How the state and non-state actors interact in the Turkish banking sector?

Abstract

The aim of this study is to examine the issue of local and global financial governance through the analysis of the activities of banking sector in an emerging country. The paper explores the impact of foreign bank entry, as required by the structural adjustment suggestions of the IMF on the governance structure of banks in Turkey. The potential consequences of the international regulations' implementation are analysed by taking into account the strategies of state and non-state actors and by using the game theoretical tools. The current functioning of the financial governance brings both advantages and disadvantages for all of the actors.