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economy of AYKO Shoes, another cooperative doing badly, also look limited. The Co-operative Central Bank did not, however, envisage having to pull the plug on one of its locally evolved members (though it has largely gradually withdrawn from retailing in the north, as the private sector expanded). It sends in its managers to troubled co-operatives to ensure that trading is conducted with propriety and relative efficiency, but rationalisation that entails mass redundancies of "members" (ail employées of co-operatives are automatically members) is beyond its effective remit. The state sector on the other hand has introduced some such rationalisations in some industries under its control, but despite the fact the right have always dominated Turkish-Cypriot politics, direct privatisation is neither populär nor pervasive. Figure 4.1 Profit
a monopoly respectively. Where there is competition in all but the financial services and international trade sectors, CTCCB management finds it difficult to compete successfully. Despite the breadth of scope of the Co-operative Central Bank, its declared largest single service was (in 1995) still the provisión of short term credit to agriculture, mostly credits in kind and in the form of agricultural inputs 33 . Long term credit is provided by the Central Bank which may use the Co-operative Central Bank as a vehicle for development, though this is no longer common. The latter form of credit runs from 3-6 years, though increasingly since its establishment in 1993, the Development Bank has taken responsibility for all long term credit facilities. Long term strategic investment in specific sectors, for reasons of long term economic planning have been made by the Central Bank or, in the case of the government's more recent priorities, by the Ministry Of Tourism. These institutions will subsidise loans made to specific sectors by the banking sector, of which the CTCCB is a key player. Its individual members, however, have rarely requested capital for business expansión or diversification 34 . Most borrowing approved by the board of the CTCCB is for the purchase of variable inputs or, increasingly, consumption spending, cultural hospitality: weddings and circumcisions. In the north, the application of co-operative credit from the CTCCB has not diversified much in terms of its lending to individuáis and independent co-operatives. The organisation's size and financial strength has meant that it has been exploited as a tool of wider government policy, and as a substitute for public borrowing and expenditure 35 (see Tables 5.1 and 5.2). 33 Interview with Suleyman Kiryagdi, op. cit. 34 ibid. 35 Interview with Ozalp Sanca, op. cit. 188
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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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employment: rapidly rising real ear
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Until the intervention of public fi
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to pick the Republic of Cyprus as t
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of offshore companies registered in
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Figure 2.27 Revenue from the offsho
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Figure 2.29 The changing compositio
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The structure of the economy, the c
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CHAPTER 3. The foundations of Takis
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Famagusta enclaves would be over-ru
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The historical context of separate
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generally concentrated in the lower
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agreed Constitution. Seemingly Clar
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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 and 162: The first five-year pian, published
Page 163 and 164: CHAPTER 4. The construction of a Tu
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: packages imported raffinate, supply
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
Page 209 and 210: competing with the longer establish
Page 211 and 212: flexibility of family business stru
Page 213 and 214: Ltd., Turkish-Cypriots eventually g
Page 215 and 216: dominateci by: textiles, footwear a
Page 217 and 218: force of national cohésion, change
Page 219 and 220: Figure 4.9 Main Citrus Exporters in
Page 221 and 222: Ismail Bozkurt (who secured 32.1% o
Page 223 and 224: Table 4.9 Citrus exports from north
Page 225 and 226: Ultimately the failure to act on pr
Page 227 and 228: CHAFTER 5: Re-establishing economic
Page 229 and 230: prospects of their respective de fa
Page 231 and 232: Figure 5.1 Change in Cypriot GDP as
Page 233 and 234: {0 perceive the de facto situation
Page 235 and 236: Turkey maintains that her objective
Page 237 and 238: 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
Page 385 and 386:
Hudson, J. and Dyniotou-Jensen M. 1
Page 387 and 388:
Mcdonald, R. 1989. The Problem of C
Page 389 and 390:
Solsten, E. (ed.) 1993. Cvprus: A c
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