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Conclusion With the conclusion of the events of 1974, and the population transfers of 1975, Turkish-Cypriot policy makers would seem to have been successful beyond their wildest dreams. After some 11 years of hardship and intimidation, they had secured a fully separate and autonomous (at least from the Greeks) area in which to administer their own affairs. The area they had secured was not only some of the most productive and developed parts of the island, but also proportionally almost exactly twice their share of the island. After occupying some 2 to 3 % of the island during the enclaved period, after the summer of 1974, the 18% Turkish-Cypriot minority occupied 37% of the island; ali this behind the seemingly secure and unqualified security guarantee that had seemed so near, and yet so far, for so long. How would ali this good fortune, this politicai success be Consolidated? In the next chapter, the economie developments behind the new, far extended, and uninterrupted UN Buffer Zone will be examined. How was the transition from a war-torn, military dominated and ethnically cleansed région to a seemingly locally run and re-settled economy administered, particularly in the absence of secure property rights and international récognition? 161
CHAPTER 4. The construction of a Turkish-Cypriot economy in the north. Introduction This chapter looks at the institutional developments that have helped to create a functioning economy for Turkish-Cypriots north of the UN Buffer Zone. The economy had to work within the, arguably, powerful constraint of a lack of international récognition. Statistical data reveals the rôle and inter-play of domestic and international politics on its direction. Wliat is also apparent from available statistics, is the rôle of changing macro-economic paradigms; the conséquences of selecting public and private sector development on a small transitional economy. Regardless of the limited availability and quality of data, an interesting story begins to unfold, in some ways mirroring developments elsewhere, beginning with a modem, politicised Gerschenkronian 1 story of institutional innovation in lieu of modem free market activity. New and existing state and quasi-state institutions were created and adapted to provide, direct and concentrate resources in an attempi to build an autonomous economy in an area largely de-populated, as a conséquence of military activity. In the absence of indigenous entrepreneurs and know-how, a shortage of investment funds, limited manpower and the need to adjust to a new politicai reality, existing institutions relocated and adapted to provide the medium for development, whilst ensuring some continuity with the past. New public sector institutions were created to manage large abandoned assets. Public and quasi-public sector Substitutes evolved economic leadership rôles in response to short term expediency, though many seem to have become permanent key features on the economic landscape, despite a declared preference for private sector solutions by the Turkish-Cypriot leadership. Increasingly the private sector was encouraged to take a greater rôle in the economic development of the north. After a brief hiatus however, 1 Gerschenkron A. 1962. Economic Backwardness in Historical Perspective. Cambridge: The Belknap Press of Harvard University Press. 162
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ACKNOWLEDGEMENTS I would like to th
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ABSTRACT This thesis examines the e
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Table Of Contents Page Change in ec
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List Of Figures 2.27 Revenue from t
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List Of Figures 5.25 Main destinati
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List Of Figures 7.8 The degree of o
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List Of Tables 6.7 All island, Gree
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This thesis will examine the econom
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Vassiliou's classic work 5 publishe
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As many questions raised by economi
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Figure 1.1 The structure of recent
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In terms of the topic of this thesi
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political landmark coincides with a
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were the mechanisms which encourage
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however, Chapter 5 concentrates on
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Defining the title The first priori
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such? Is northern Cyprus simply run
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unlike Greece in 1923, were already
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itself as having been literally und
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economic history, Christodoulou's s
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incurred as a resuit of eonfl ict.
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Christodoulou has concentrated his
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any credit for successful economic
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anking technology, administrative c
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(which usually has a regressive imp
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contribution did labour remittances
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having been inspired by Zetter's in
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econstruction also provided a means
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Conclusion In analysing the extent
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he drew distinct analogies with the
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in Cyprus. The main objective is a
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The war proved a watershed in many
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Uruguay, Japan, Trinidad and Tobago
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financial, property and business se
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By 1960 exports represented over 20
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Table 2.1 Domestic Exports FOB in 1
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the period (1960-73), the différen
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Figure 2.4 Principal exports as a p
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producing 12% of GDP. Tourism (rest
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considerably more than Turkey, whos
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income. Mining and quarrying (now m
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Figure 2.10 Principal exports as a
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Figure 2.12 The Destination of the
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Figure 2.14 Ambiguous indicators: T
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Figure 2.15 Sìze of manufacturing
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By 1980 the economy of the Republic
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The scale of the disruption in the
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Whether taking the optimists approa
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financing from financial markets pi
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grew rapidly. In the immediate afte
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One of the major problems facing th
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coming, only concerning policy make
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with particular bottlenecks affecti
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"We attributed this finding to the
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aiding the recovery from the coup a
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Page 113 and 114: Until the intervention of public fi
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Page 117 and 118: of offshore companies registered in
Page 119 and 120: Figure 2.27 Revenue from the offsho
Page 121 and 122: Figure 2.29 The changing compositio
Page 123 and 124: The structure of the economy, the c
Page 125 and 126: CHAPTER 3. The foundations of Takis
Page 127 and 128: Famagusta enclaves would be over-ru
Page 129 and 130: The historical context of separate
Page 131 and 132: generally concentrated in the lower
Page 133 and 134: agreed Constitution. Seemingly Clar
Page 135 and 136: séparation of the communities bega
Page 137 and 138: UN. 37 Some additional supplies mus
Page 139 and 140: Seemingly, by 1970 the Nicosia encl
Page 141 and 142: was made on the basis of a fixed in
Page 143 and 144: derived from Turkish transfer payme
Page 145 and 146: Patrick has offered a more complica
Page 147 and 148: spare parts and maintenance materia
Page 149 and 150: Emphasising the growing divisions b
Page 151 and 152: Chamber, Rauf Denktash, said people
Page 153 and 154: Figure 3.2 Thepossible economic eff
Page 155 and 156: produced by them rises significantl
Page 157 and 158: Committee" was the area military co
Page 159 and 160: February 1975 the latter bodies set
Page 161: The first five-year pian, published
Page 165 and 166: Whilst the Turkish-Cypriot leadersh
Page 167 and 168: of supply, and/or marketing, in key
Page 169 and 170: shipment of 2000 tons of foodstuffs
Page 171 and 172: Eti still operateci out of Nicosia,
Page 173 and 174: institutions in northern Cyprus amo
Page 175 and 176: with multipurpose co-operatives, a
Page 177 and 178: A few new co-operatives were formed
Page 179 and 180: loans. Savings Banks do have access
Page 181 and 182: espectively. The Famagusta branch w
Page 183 and 184: Cypriot) Government in the 1960s, t
Page 185 and 186: increasing costs 31 . This is perha
Page 187 and 188: packages imported raffinate, supply
Page 189 and 190: a monopoly respectively. Where ther
Page 191 and 192: Evkaf is an Islamic organisation fo
Page 193 and 194: Evkaf had a largely obscure economi
Page 195 and 196: Meanwhile a little noticed phenomen
Page 197 and 198: After the summer of 1974, the Turki
Page 199 and 200: monitored Ledra Place check-point,
Page 201 and 202: the early eighties, when Turkish ar
Page 203 and 204: Figure 4.3 Number of tourists from
Page 205 and 206: the situation that had existed prio
Page 207 and 208: stay arrivais or diminish with the
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Page 211 and 212: flexibility of family business stru
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Ltd., Turkish-Cypriots eventually g
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dominateci by: textiles, footwear a
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force of national cohésion, change
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Figure 4.9 Main Citrus Exporters in
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Ismail Bozkurt (who secured 32.1% o
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Table 4.9 Citrus exports from north
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Ultimately the failure to act on pr
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CHAFTER 5: Re-establishing economic
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prospects of their respective de fa
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Figure 5.1 Change in Cypriot GDP as
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{0 perceive the de facto situation
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Turkey maintains that her objective
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parliament during the unstable peri
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case study, he argues that given en
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Specifically, it is analysis of nat
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imports (Figure 5.5). The extent to
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(which includes the increasingly im
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If "a leading sector in the process
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Just to put minds at rest that manu
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encouraged private sector action, t
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Figure 5.13 Gross domestic fixed ca
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major economic force, one that was
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they account for around a third of
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dominates international transfer pa
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a "development resource" 54 , rathe
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able to spearhead a revival aided,
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path, policy objectives moved to co
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overwhelming dependence on a genera
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In the difficult times that followe
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independence from total Turkish fin
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Figure 5.20 Orange production as a
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e exchanged for new "TRNC" (or, as
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Unlike the vineyards where most of
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Although not important in the initi
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Having said this, constant improvem
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compensation arrangements in the no
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some of the labour intensive stages
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Figure 5.24 Proportion of citrus ex
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to treat exports from the whole of
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seem more politically motivateci an
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Figure 6.1 Percentage change in GNP
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initially. The more immediate probl
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historical phenomena (large externa
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It has been argued that if politics
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share of National Income to somethi
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Figure 6.6 Communal income in 1980,
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Selecting peers as proxies for pan-
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growth potential to Cyprus in 1960,
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was that compatible data should be
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Figure 6.9 Micro Economies; average
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Figure 6.11 Micro Economies; averag
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Figure 6.13 The level of government
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Figure 6.14 "More Developed Medìte
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Figure 6.17 "More DevelopedMediterr
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Cypriot growth rate, should not dis
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Figure 6.22 Structure of production
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Figure 6.26 Degree of openness in t
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economic growth 49 (variables 6-9:
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implication, developmental différe
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spectrum in 1980 at 38%. Perhaps le
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namely investment rates 54 (in phys
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instruments, the justification for
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Figure 6.28 Average annual growth i
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Figure 6.29 How Cyprusfared in 1980
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Figure 6.30 Total Cypriot income 19
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o.zö; may reveai someimng 01 ine e
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developments elsewhere. The relativ
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unified economy) of 1963, Cyprus is
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CHAPTER 7. Conclusion 348 Comparati
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Turkish-Cypriot economy stagnateci.
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So it is worth looking again at the
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stand out however, revealing enough
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Figure 7.3 Gross domestic investmen
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Figure 7.5 "TRNC netforeign trade a
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Figure 7.8 The degree of openness i
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control. There seems to be ampie ex
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The role of tourism in the economic
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seem to be able to grow in line wit
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Comparisons throughout this thesis
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The Cyprus Mail Hellenic Group. Nic
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I.M.F. International Financial Stat
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1982. Fourth Emergency Economic Act
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"Turkish Federated State of Kibris"
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leadership of the two communities o
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"administrations" and key economic
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Bicak, H.A. (June) 1990. "The Impac
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Hudson, J. and Dyniotou-Jensen M. 1
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Mcdonald, R. 1989. The Problem of C
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Solsten, E. (ed.) 1993. Cvprus: A c
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