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"This book addresses the urgent need to examine central bank policies in response to the global supply and demand shock brought on by the Covid-19 pandemic, asking whether central banks are doing enough to address inequalities and concerns around climate change and emerging technologies. Adopting an interdisciplinary, critical perspective, the contributors to this volume provide novel theoretical, methodological, and empirical insights on central banks around the world, including in advanced, emerging and developing economies. The chapters in this book explore the evolution of central bank mandates, the policy tools central banks are utilizing, why and how monetary policy takes different shapes (including unconventional monetary policy), the key dynamics influencing central bank policies, how central banks are adapting to the new realities and addressing emerging challenges, and how monetary policy is perceived in the wider economic policy framework. With novel theoretical approaches and diverse empirical evidence from a variety of countries, this book will appeal to readers interested in central banking, monetary policy, the economics of the pandemic and political economy"--

"Since the start of the Global Financial Crisis in 2008, research on central banking has gained momentum due to unusual levels of central bank activism and unconventional monetary policy measures in many countries. While these policies drew significant attention to advanced economy central banks, there has been much less academic focus on central banking in emerging economies. This book extends the research on the political economy of central banking by focusing on the emerging economies in Asia, Africa, Latin America, and the European periphery. Central banks are at the heart of economic policy making and their decisions have a significant impact on the social and economic well-being of citizens. Adopting an interdisciplinary political economy perspective, the contributions in this book explore the reciprocal relations between politics, economics, and central banks, and how global and domestic political economy context influences central bank practices. The chapters employ diverse theoretical perspectives such as institutional and organisational theory, developmental state, resource dependency and gender studies, drawing on disciplines ranging from politics, international relations, public policy, management, finance, and sociology. This book will appeal to academics and students of central banking, political economy and emerging economies, as well as professionals and policy-makers engaged with central banks, monetary policy, and economic development. Mustafa Yağcı is an Assistant Professor of International Political Economy at İstinye University, İstanbul, Turkey"--

In the aftermath of the Global Financial Crisis (GFC), 'financial stability' emerged as one of the key pillars of economic policy-making and as a new mandate for central banks. In spite of the acceptance and prominence of financial stability goal, we know very little about the mechanisms of institutional change and the role of institutional entrepreneurship in particular, to pursue financial stability objective in national contexts. This study investigates the active financial stability pursuit of the Central Bank of the Republic of Turkey (CBRT) following the GFC and argues that institutional entrepreneurship of CBRT as an organisation and the governor of CBRT as an individual paved the way for active financial stability pursuit and resulting institutional and policy changes in Turkey by accomplishing 'organisational learning' at the CBRT. Governor of CBRT also played a key role as an institutional entrepreneur by gaining Turkish Treasury's political support in design of unconventional monetary policy measures for financial stability objective. Utilising institutional theory, organisation theory, and public policy literature, this study offers an interdisciplinary, agency based and process-oriented analysis to the study of the political economy of central banking in the aftermath of GFC and sheds light on the questions of why and how central banks take specific policy decisions from a micro-level analysis.

Turkish government has increased the importance of Konya-Karapınar region by making the area a pilot region for solar energy production. In the near future, the government plans to have a 1 GW solar energy plant in the area. According to this master plan, a pilot solar energy production system was established in the Necmettin Erbakan University campus. A 1000W two-axis tracking and 1000W fixed panels were implemented in this system. In this paper, the performance of these panels are compared and evaluated. 25 years of solar radiation data for Konya is taken from the state meteorology institute, and the produced energy is compared with the predicted values. Tracking panels are found to be approximately 25% more efficient than the fixed panels. However, the maintenance of the tracking panels is observed to be more costly. Moreover periodic cleaning and repairs are found to be very important and another cost factor for both systems. Using the insight from this pilot system, an economic analysis of a large scale 1MW solar energy plant to be established in the campus is performed. For this analysis, fixed panels are considered due to the low investment and maintenance costs and the simplicity of the maintenance work. It is found that the 1MW solar plant will recover the investment cost within 4-5 years and will provide almost 3M profit after 20 years.