TURKEY'S ECONOMIC AND FINANCIAL DIPLOMACY

In the flurry of arguments and theories put forth to explain the profound changes in Turkish diplomacy, little attention has been given to economic and financial considerations. The rise of a new business elite which can relay its demands at the highest level of government and the growing importance of international creditors is contributing to reshape Turkey's diplomacy and to ground it in what A. Hirschmann would call a departure from the warmth of Passion to one centered around the cold pursuits of Interests. Indeed, the opening of new markets for its goods and the protection of financing for its investments has become a central and unnoticed foreign policy input. This brings about a redefinition of regional relationships along the lines of economic interests in a long process which has just started.