Current Projects
Emerging
Economies, Economic Crises and Global Governance: Lessons from Turkish History Since the mid-nineteenth century,Turkey
has endured several major sovereign debt crises, the resolutions of which have been critically influenced by the existing
institutions of global governance. The book examines this history, focusing on how evolving global institutions
interacted with domestic institutions and influenced the post-crisis direction of economic policy. The analysis extends
the rich literature on domestic political impediments to change to consider the roles the institutions of global
financial governance and "the rules of the game" have played in promoting or discouraging stabilizing responses
to crises. Expected completion date, mid-2012.
Sovereign Debt in the 21st Century. In conjunction with the Atlantic Council, this blog series
explores the European response to the first advanced country sovereign debt crisis in recent history. At the heart of this
drama are basic questions about the institutions that will best externalize costs of lending to sovereigns and borrowing by
sovereigns and apportion costs of unsustainable debt situations.
Global governance and sovereign debt crises.As a Visiting
Senior Fellow at the Center for International Governance Innovation, I am working with the Center on the question "Are
global financial institutions adequately prepared for future sovereign debt crises?" We are hoping to bring together
experts on past sovereign debt crises and on the changing characteristics of heavily indebted countries in order to understand
what institutional arrangements will help the world cope with and address the behavior underlying large build-ups in sovereign
debt.
Turkey 2000-2010--A Decade of Transformation. Supported by grants
from Robert Bosch Stiftung, The Dogus Group, and the Central Bank of Turkey, Sena Eken and I are organizing three workshops,
one in Istanbul, one in Brussels, and one in Washington DC, to bring together experts from the three locations to discuss
the economic, social and political dimensions of Turkey's transformative decade. We will publish a report on the conversations in
a short book. Expected date of completion--Early 2011.