The main characteristics of Turkish banking system and its response to Dissertation

The main characteristics of Turkish banking system and its response to recent global financial crisis - Dissertation Example 62 Conclusion 64 Chapter Five 66 Conclusion 66 Table 1 68 Bibliography 71 Can Turkey’s Banking System Act as a Model To Buffer Global Financial Crises? Introduction With the burst of the US property bubble in 2008, mortgage defaults increased astronomically with irreparable harm to global banking sectors and financial institutions worldwide. A number of banks were hard hit by either non-performing loans or complicated financial assets arising under bad loans. As a consequence, actors in the market emerged as cautious which were further exacerbated by doubts about primary financial institutions’ solvency. ... Turkey also does not have an operating mortgage sector like the US has. Turkey’s Central Bank’s macroeconomic policies and measures taking by Turkey’s banks in response to the global financial crisis also contributed to the limited impact of the 2008 global financial crisis of 2008.4 This dissertation conducts a critical analysis of the main characteristics of the Turkish banking system and its response to the recent global financial crisis of 2008-2009. The main purpose is to determine whether or not, Turkey’s banking system represents a model for buffering the effects of global financial crises. This research is justified by the fact that the Turkish banking system faired relatively well during the recent global financial crisis of 2008-2009.5 At the same time, Turkey’s real economy suffered serious damages, thus making Turkey an interesting case study. Thus this dissertation seeks to determine whether or not capital restructuring of financial ins titutions which creates a hard cap against loans and mortgages suppresses economic stimulation elsewhere. Profits during the global financial crisis of the Turkish banking system were impressive compared to that of other countries including developed economies.6 While banks all over the world were collapsing, Turkey’s banks remained stable and registered profits.7 The Turkish banking system’s ability to withstand the 2008-2009 global financial crisis is generally attributed to its regulatory framework and risk protocols.8 The Turkish banking system has learned a lot with respect to responding to economic shocks and risk management following the financial crises of 2000-2001.9 As a result the Turkish banking system devised

Occupational Safety and Health Law Handbook Essay

Occupational Safety and Health Law Handbook - Essay Example Section 9(a) of OSHA provides that all citations should reasonably be issued promptly. The limitation period for issuing citations is six months. Therefore, no citation can be vacated within the period unless the delay prejudiced the employer1. The employer has the burden of proving that the delay hindered his preparation and presentation of the defense. The second defense available to an employer is that the affected employees were not vulnerable to the condition cited (Schneid & Schumann, 2007). The Act requires that any citation must establish that either the employees were exposed to, or there was a potential for their exposure to the hazard in question. Furthermore, the Act requires that either the employer be in control of the hazard or create it. On this latter requirement, the employer could argue that he was unaware of the condition or could not have known the same despite exercising due diligence2. It could also suffice to argue that no hazardous condition prevails at the workplace. There is the assumption that a hazardous condition exists at the workplace if what is violated is a â€Å"specification† standard (e.g. a guardrail in all working surfaces above four feet). Therefore, OSHA must prove that there existed a hazardous condition to justify the citation (Schneid & Schumann, 2007). The level of risk must be significant, which means that the employer should know of the hazardous condition requiring protective equipment3. Therefore, the employer has to be a reasonable person conversant with the industry and safety requirements. If OSHA does not prove this standard, the citation is bound to