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The early period of independence had shown something of the economic promise that awaited the island freed from the constraint of colonial rule 88 . Within three years of independence from Britain, Cyprus, an island whose communities had lived peacefully for générations (so much so that it was at first doubtful as to whether Cypriots themselves could be recruited as "libération fighters" 89 ), looked to be again, seriously at war with itself. Christodoulou has argued that the "economic miracle", if it occurred at ali, did so in the post-independence period. Christodoulou's argument is backed up by Peter Loizos 1 "supercharged aspirations" (referred to above). But often, the ambitions of newly independent states flounder on prolonged internai confiict. In the immediate post-independence period, Cyprus conformed with post-colonial norms by conducting a series of typical post-independence internai battles, both "ethnie" (colonial roots) and ideological (accentuated by the cold war which, arguably began with the Greek civil war). Turkish military intervention may have prevented the application of the stereotypical view of third world poverty from being applied to Cyprus. Civil war proved to be economically disastrous to many post-colonial states further south. So in some senses the rhetoric of the Turkish invaders is justified: the "peace opération" did result in a long term cessation of violent confi ict and a return to developmental objectives. The then premier, Archbishop Makarios, used military terminology to describe the economic struggle that followed military defeat. More, 88 Wilson 1992. op. cit., pp. 29-31. 89 Mayes 1981. op.cit., p.52. 57
he drew distinct analogies with the conflict which would, he suggested, be continued on the economic front 90 . Now southern Nicosia flaunts its nouveau wealth in much the same way as West Berlin used to. The neon lights of its new car showrooms, night clubs and restaurants Stretch out along the mine-fields and barbed wire of Nicosia's "Green Line". The façade of an open market economy stretches out towards the now exclusively UN used "Nicosia International Airport", as much as to say the laws of économies have restored what international law failed to protect. Ironically the economic success of this part of the island seems to have been Consolidated by Turkish intervention. Perhaps what civil war may have gradually undermined, a short and costly, all-out-war seems to have sustained. Seemingly, even in the north, the advantages of economic autonomy (at least from the "Greeks") have proved to be one of the greatest barriers to progress in the intercommunal talks. Until the collapse of Polly Peck and worsening monetary conditions in Turkey, stagnant economic conditions seemed to give way to a longer term structural convergence (see Chapter 3). As Olgan suggests 91 , with economic convergence the sticking point of property rights could possibly be overcome. This is perhaps the crucial factor: economic development has been successful despite politicai failure, so economic objectives could override politicai ones if either party is Willing to recognise the mutuai benefits of co-operation and conform more closely with dominant economic models (ignoring game theory) and utility maximise. This % The Economist, 27th August, 1977, "Miracle in Halfan Island", pp. 50-51. 91 01gunM.E. "An Economic Overview", inDodd 1993. op. cit., pp. 270-298. 58
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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
Page 7 and 8: List Of Figures 2.27 Revenue from t
Page 9 and 10: List Of Figures 5.25 Main destinati
Page 11 and 12: List Of Figures 7.8 The degree of o
Page 13 and 14: List Of Tables 6.7 All island, Gree
Page 15 and 16: This thesis will examine the econom
Page 17 and 18: Vassiliou's classic work 5 publishe
Page 19 and 20: As many questions raised by economi
Page 21 and 22: Figure 1.1 The structure of recent
Page 23 and 24: In terms of the topic of this thesi
Page 25 and 26: political landmark coincides with a
Page 27 and 28: were the mechanisms which encourage
Page 29 and 30: however, Chapter 5 concentrates on
Page 31 and 32: Defining the title The first priori
Page 33 and 34: such? Is northern Cyprus simply run
Page 35 and 36: unlike Greece in 1923, were already
Page 37 and 38: itself as having been literally und
Page 39 and 40: economic history, Christodoulou's s
Page 41 and 42: incurred as a resuit of eonfl ict.
Page 43 and 44: Christodoulou has concentrated his
Page 45 and 46: any credit for successful economic
Page 47 and 48: anking technology, administrative c
Page 49 and 50: (which usually has a regressive imp
Page 51 and 52: contribution did labour remittances
Page 53 and 54: having been inspired by Zetter's in
Page 55 and 56: econstruction also provided a means
Page 57: Conclusion In analysing the extent
Page 61 and 62: in Cyprus. The main objective is a
Page 63 and 64: The war proved a watershed in many
Page 65 and 66: Uruguay, Japan, Trinidad and Tobago
Page 67 and 68: financial, property and business se
Page 69 and 70: By 1960 exports represented over 20
Page 71 and 72: Table 2.1 Domestic Exports FOB in 1
Page 73 and 74: the period (1960-73), the différen
Page 75 and 76: Figure 2.4 Principal exports as a p
Page 77 and 78: producing 12% of GDP. Tourism (rest
Page 79 and 80: considerably more than Turkey, whos
Page 81 and 82: income. Mining and quarrying (now m
Page 83 and 84: Figure 2.10 Principal exports as a
Page 85 and 86: Figure 2.12 The Destination of the
Page 87 and 88: Figure 2.14 Ambiguous indicators: T
Page 89 and 90: Figure 2.15 Sìze of manufacturing
Page 91 and 92: By 1980 the economy of the Republic
Page 93 and 94: The scale of the disruption in the
Page 95 and 96: Whether taking the optimists approa
Page 97 and 98: financing from financial markets pi
Page 99 and 100: grew rapidly. In the immediate afte
Page 101 and 102: One of the major problems facing th
Page 103 and 104: coming, only concerning policy make
Page 105 and 106: with particular bottlenecks affecti
Page 107 and 108: "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:
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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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