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Mr Stavros Karayorgios is an Economist in the Ministry of Finance's, Dept. of Statistics and Research (Republic of Cyprus) and is responsible for collating National Income Accounts. Suleyman Kiryagdi, interview carried out at the EMU and in his Nicosia office respectively on the 20/04/95, 21/04/95. Mr Suleyman Kiryagdi is the General Co-ordinator & Acting Secretary and General Manager of the Cyprus Turkish Co-operative Central Bank Ltd. (the CTCCB est. 1959). Formerly he was a manager with the "state's" Cyprus Turkish Industriai Holdings Co. Ltd. Anatasia Kitromilidou-Koutsou, written correspondence 7 July 1994. Ms Anatasia Kitromilidou-Koutsou, acting on behalf of the General Manager of the Cyprus Ports Authority, on major capital projects after 1974. Leslie G. Manison, interview carried out in his office, in the Ministry of Finance, on the 15/9/95 and the 21/9/95. Mr Leslie G. Manison is the Advisor to the Minister of Finance. Sadiye Onculay, interview carried out in her office on the 16/8/95. Mrs Sadiye Onculay is the manager of the (Elementary School) Teachers Co-operative Savings Bank, Nicosia. Osman Orek, interview carried out in his office, at the EMU, on the 3/5/95. Mr Osman Orek, was the Defence Minister in the Government of the Republic of Cyprus from independence until December the 23 1963, he is also a former "Prime Minister" in the "Turkish Federated State of Cyprus". Elias Pantelides, interview carried out in his Holy Synod Office in the Archbishopic on the 26/9/95. Mr Elias Pantelides is the Director of the Church of Cyprus Audit Dept., and Executive Chairman of Ledra Palace Hotels Ltd. Zenon Papaloizou, a series of written correspondence throughout 1994. Mr Zenon Papaloizou, is a civil engineer with J & A Philippou Architects and Engineers, one of the largest practices in Cyprus, employing, in 1995, 60 professional staff. Prodromos Prodromou, interview carried out in his Nicosia office on the 1/8/95, . Mr Prodromos Prodromou is an Economist in the Economic Research Department of the Central Bank of Cyprus. Ozalp Sarica, interview carried out in his office, at the EMU, on the 17/3/95, 21/3/95, 24/3/95. Mr Ozalp Sarica was the first Assistant Governor of the Central Bank of Cyprus, employment he left on 23 December 1963 along with the rest of the Turkish Cypriot community. Since then he has held senior positions in the various Turkish Cypriot 378
"administrations" and key economic institutions that helped to create and maintain a separate Turkish Cypriot economy. From 1964 to 1968 he was the Director General of Evkaf (the second largest landowner in Cyprus). He became the first Director General of the "State" Planning Organisation when it was founded by the provisional administrational in 1968. While there he set up a Company Eti, which he fronted from 1972, with the aim of opening and increasing economic links with "mainland" Turkey. Ergün Sever, interview carried out in in the Chief Auditor's Nicosia office and in the presence of Mr Uzun, the Chief Auditor, on the 10/8/95. Mr Ergün Sever is the Secretaiy of the Famagusta Turkish Co-operative Bank (founded in 1944). Micheal Tingirides, interview carried out in his Nicosia office on the 31/7/95, 1/8/95. Mr Micheal Tingirides is a Senior Economist in the Economic Research Department of the Central Bank of Cyprus. Emel Uzun, interview carried out in her Nicosia office on the 8/8/95. Mrs Emel Uzun, is the manager of the Government Employees S avings Bank, Nicosia, (established in 1958). Ertugrul Uzun, interview carried in his, and the Chief Registrar's, office on the 3/8/95 & 18/8/95 respectively. Mr Ertugrul Uzun is the Chief Auditor at the Department of Co-operative Development, in the Prime Ministry, Nicosia. Conference Material: EMU. 3-4 December 1990. Conference on "Structural Change in the Economy of the TRNC", Eastern Mediterranean University, Famagusta. Girne American University. 30 March to 1 April 1995. "Don't Kill the Goose: Tourist Destination Development" conference, Chateau Lambussa, Lapta. Bank of Cyprus and the University of Cyprus (Dept's of Archaeology and Economics), 28- 29 April 1995. Conference on "The Development of the Cypriot Economy", Nicosia: Bank of Cyprus Head Quarters. 12th International Economic History Congress, Session C42: "Ethno-national divides and economic coexistence: historical perspectives", organized by Metzer, J. (Dept. of Economics, The Hebrew University), and 0'Grada, C. (Dept. of Economics, University College Dublin). 379
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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
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UN. 37 Some additional supplies mus
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Seemingly, by 1970 the Nicosia encl
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was made on the basis of a fixed in
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derived from Turkish transfer payme
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Patrick has offered a more complica
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spare parts and maintenance materia
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Emphasising the growing divisions b
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Chamber, Rauf Denktash, said people
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Figure 3.2 Thepossible economic eff
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produced by them rises significantl
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Committee" was the area military co
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February 1975 the latter bodies set
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The first five-year pian, published
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CHAPTER 4. The construction of a Tu
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Whilst the Turkish-Cypriot leadersh
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of supply, and/or marketing, in key
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shipment of 2000 tons of foodstuffs
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Eti still operateci out of Nicosia,
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institutions in northern Cyprus amo
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with multipurpose co-operatives, a
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A few new co-operatives were formed
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loans. Savings Banks do have access
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espectively. The Famagusta branch w
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Cypriot) Government in the 1960s, t
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increasing costs 31 . This is perha
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packages imported raffinate, supply
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a monopoly respectively. Where ther
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Evkaf is an Islamic organisation fo
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Evkaf had a largely obscure economi
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Meanwhile a little noticed phenomen
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After the summer of 1974, the Turki
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monitored Ledra Place check-point,
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the early eighties, when Turkish ar
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Figure 4.3 Number of tourists from
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the situation that had existed prio
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stay arrivais or diminish with the
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competing with the longer establish
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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:
Page 329 and 330: implication, developmental différe
Page 331 and 332: spectrum in 1980 at 38%. Perhaps le
Page 333 and 334: namely investment rates 54 (in phys
Page 335 and 336: instruments, the justification for
Page 337 and 338: Figure 6.28 Average annual growth i
Page 339 and 340: Figure 6.29 How Cyprusfared in 1980
Page 341 and 342: Figure 6.30 Total Cypriot income 19
Page 343 and 344: o.zö; may reveai someimng 01 ine e
Page 345 and 346: developments elsewhere. The relativ
Page 347 and 348: unified economy) of 1963, Cyprus is
Page 349 and 350: CHAPTER 7. Conclusion 348 Comparati
Page 351 and 352: Turkish-Cypriot economy stagnateci.
Page 353 and 354: So it is worth looking again at the
Page 355 and 356: stand out however, revealing enough
Page 357 and 358: Figure 7.3 Gross domestic investmen
Page 359 and 360: Figure 7.5 "TRNC netforeign trade a
Page 361 and 362: Figure 7.8 The degree of openness i
Page 363 and 364: control. There seems to be ampie ex
Page 365 and 366: The role of tourism in the economic
Page 367 and 368: seem to be able to grow in line wit
Page 369 and 370: Comparisons throughout this thesis
Page 371 and 372: The Cyprus Mail Hellenic Group. Nic
Page 373 and 374: I.M.F. International Financial Stat
Page 375 and 376: 1982. Fourth Emergency Economic Act
Page 377 and 378: "Turkish Federated State of Kibris"
Page 379: leadership of the two communities o
Page 383 and 384: 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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