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Private Sector Development

In: The Political and Economic History of North Cyprus

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  • Tufan Ekici

    (William Paterson University)

Abstract

The contribution of private sector to economic development has latterly become important, although the analysis here shows that contribution to have been ‘too little too late’ in northern Cyprus has been minimal. One of the causes of the lack of development, claimed by local politicians, was the European Court of Justice decision restricting imports from northern Cyprus. These causes are discussed and their impact on northern Cyprus assessed, as well as assessments of other key private sectoral developments such as tourism, agriculture and higher education. The key financial institutions, the Central Bank and the Development Bank, are also examined here, as symptomatic of the widespread contradiction between supposedly independent governance on the one hand and venal clientelism and rentierism on the other hand, all showing the weak development of this discordant polity.

Suggested Citation

  • Tufan Ekici, 2019. "Private Sector Development," Palgrave Studies in Economic History, in: The Political and Economic History of North Cyprus, chapter 8, pages 219-253, Palgrave Macmillan.
    • Handle: RePEc:pal:palscp:978-3-030-13479-2_8
    DOI: 10.1007/978-3-030-13479-2_8
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