Hasan Ersel - Economic Research Forum (ERF)

Hasan Ersel

Research Fellows

Faculty Member, Faculty of Management & Faculty of Arts and Social Sciences, Sabanci University

Areas of Interest:

  • Money and Banking
  • Financial Economics


  • Ph.D., Economics, Ankara University, Turkey, 1971
  • Licence, Economics and Finance, Ankara University, Turkey, 1967


  • Faculty Member (Part Time), Sabancı University, Faculty of Arts and Social Sciences & Faculty of Management, 2003-present
  • Adjunct Professor, EconFin program, Bogazici University, 2003- present
  • Advisor to the Board of Directors, İşbank, 2005-2008

Latest Publications:

  • “Politico-Economic Developments in Turkey and the Transformation of Political Islam (1950-2010)”, Middle East Economic Journal, 5(1), March 2013, 1350008. [Reprinted with some minor corrections in Ishac Diwan (ed.): Understanding the Political Economy of Arab Uprisings, New Jersey: World Scientific, 2004, pp.193-217]
  • “Economic Requirements of Macroprudential Regulation” in Proceedings of the XIII. International Academic Conference on Economic and Social Development, Moscow, April 5-7, 2011, National Research University Higher School of Economics, Book 1, Moscow: HSE Publishing House, 2012, pp. 563-574.
  • “Monetary Policy in Turkey: The Reasons for Introducing Inflation Targeting and Outcome”, in M. Boughzala & D. Cobham (Eds.): Inflation Targeting in MENA Countries, Palgrave Macmillan, pp. 193-229, 2011, (with Fatih Özatay).
  • “Financial Markets, Regulation and Financial Crises” Arno Scherzberg, İlyas Doğan, Osman Can (eds.), Staatliche Finanzmarktregulierung und Eigentumsschutz, Berlin: LIT Verlag Berlin, 2011, (with Izak Atiyas).
  • The EU Negotiations as a Reform Strategy-Turkey’s Problem Ahead, (with Fatih Özatay) in William Barnett & Melvin Hinich (eds.): Topics in Analytical Political Economy, Elsevier [ Forthcoming in 2007].
  • Current Account Sustainability-The Case of Turkey, in Erdem Basci,Subidey Togan and Jürgen von Hagen (eds.): Macroeconomic Policies for EU Accession, Aldershot: Edward Elgar, [Forthcoming in 2007], (with Subidey Togan).
Working Papers

Foreign Exchange Regimes, The Real Exchange Rate and Current Account Sustainability: The Case of Turkey

During the last two and half decades Turkey has suffered from three foreign exchange crises ... read more

Working Papers

Inflation Targeting in Turkey

Abstract In the aftermath of the 2000-2001crisis the banking sector in Turkey was in turbulence requiring immediate ... read more

Working Papers

Vulnerability to External Financial Shocks: The Case of Turkey

Abstract For many observers, Turkey’s performance during the “2007+ global financial crisis” was puzzling. In the ... read more

Working Papers

Politico-Economic Development of Turkey and The Transformation of Political Islam

This paper examines Turkey’s economic transition highlighting two objectives: achieving a strong growth performance in ... read more

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