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The Effect of Interest and Rent Income of the Foundations of Ottoman Istanbul Eyüp Region on Cash Capitals: Panel Data Analysis (1769-1773)

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  • Baha Mücahid ŞAHİN

    (İstanbul Üniversitesi, Sosyal Bilimler Enstitüsü, İktisat, Doktora Öğrencisi, İstanbul, Türkiye)

Abstract

Waqfs that generate income by operating cash or by operating cash and renting real estate are called cash waqfs in the literature. One of the issues examined in earlier studies on cash waqfs is the size of the cash capital of such waqfs. Earlier studies have also looked into the amount of increase or decrease in these capitals and how these increases or decreases occur. In the literature, waqfs that earn income only by operating cash or by operating cash and renting real estate are called cash waqfs. In this study, the effects of interest and rental income on the cash capital of 12 waqfs in the Eyüp (Havass-ı Refia) district between 1769-1773 were analyzed with panel data. The data required for the analysis were obtained from the waqf accounting book no. 246 registered at the Havass-ı Refia Court. According to the results of the analysis, it was found that interest revenues had a significant effect on the growth of cash capitals but that rental income had no effect on cash capitals.

Suggested Citation

  • Baha Mücahid ŞAHİN, 2020. "The Effect of Interest and Rent Income of the Foundations of Ottoman Istanbul Eyüp Region on Cash Capitals: Panel Data Analysis (1769-1773)," Istanbul Journal of Economics-Istanbul Iktisat Dergisi, Istanbul University, Faculty of Economics, vol. 70(1), pages 183-203, June.
    • Handle: RePEc:ist:journl:v:70:y:2020:i:1:p:183-203
    DOI: 10.26650/ISTJECON2020-0009
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    References listed on IDEAS

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    1. Bulut, Mehmet & Korkut, Cem, 2016. "Finansal İstikrar ve Para Vakıfları Etkisi: Rumeli Para Vakıfları Örnekleri [Financial Stability and Cash Waqfs: Samples of Rumelia Cash Waqfs]," MPRA Paper 73902, University Library of Munich, Germany.
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    More about this item

    Keywords

    Cash waqfs; Cash capital; Interest income; Rental income; Panel data;
    All these keywords.

    JEL classification:

    • N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
    • N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913
    • N93 - Economic History - - Regional and Urban History - - - Europe: Pre-1913

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