Outside the Homeland of the Turks Economic Potential of The Diaspora

KALÇA, Adem and DURMAZ, Atakan (2010) Outside the Homeland of the Turks Economic Potential of The Diaspora. In: 2nd International Symposium on Sustainable Development, June 8-9 2010, Sarajevo.

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Abstract

Ethno-national diasporas occur from the homeland to one or a few countrıes that accept guests mandatory or voluntary migration. These type of groups stay in the country permanently. Diaspora is an ethnic unity that was created by people migrated by force or voluntarily from the same ethnic origin of individuals in one or more countries to protect their personal rights ts and to avoid losing their own identity. Diasporas, which were created for this purpose at first, have become effective even in the administration of the country where they exist, especially by gaining economic power. In the beginning of the purposes of the diasporas, it comes not to lose their own identity and to secure them to get a regular relationships with their home countries no matter where they live and no matter which country they belong to. The possibility of foreign investment presented with this bond is so important that it functions a lot in the development of the country. The possibility of foreign capital which is offered by diaspoara is an important action in the development of home countries. Countries have used the economic power of the diasporas with different instruments,and the most common instrument is the diaspora debenture. Dispoara bond is a debenture which is giyen to a country by a sub-dominant party or a private company to increase funding from the diaspora abroad. It is an important source for the developing countries that various diasporas of countries whose citizenship they accepted and their financial situations increases quickly. If the flow of forein currency claims to set diaspora income in a way of regular basis, the interests of the bond issues that from the hard money(currency) is a way to raise capital abroad. Up to this day, Israel and India have reached 35-40 billion dollars by bringing these bonds out. In this context, when the situation in Turkey is examined, especially Europe and European Union countries must be taken into consideration primarily. Today, in European Union countries, approximately 4.2 million Turkish citizens are living; it is nearly 5.7 million with the new countries participating in the European Union. Annual per capita GDP of this population is approximately 19.700 Euros. In addition, 80.7 billion Euros in 2006, Turkish people contributed EU GDP 80.7 billion euros. In European Union countries in 2006, there were 101,000 Turkish entrepreneurs with Turkish origins who had invested 10.9 billion euros; they had 43.9 billion euros giro and provided employment for 474,000 people. Taking this data and the coming footsteps of successful examples of Turkish Diaspora in Turkey into account, we can create a growing economy and political power to be able to make signifıcant contributions. The aim of the article which was prepared from the movement of the thesis is to show that one of the instruments which can be used in supplying the foreign capital is the power of diaspora. When the diasporas of Israel and India are taken into consideration, emphasizing especially on that economical diasporas have an important place is the demonstration of the power of Turks who act like a diaspora and live in Europe.

Item Type: Conference or Workshop Item (Paper)
Uncontrolled Keywords: Diaspora, diaspora bond, foreign capital, nationalism
Subjects: H Social Sciences > HB Economic Theory
Depositing User: Mr. Ibrahim Kinal
Date Deposited: 01 Feb 2012 14:31
Last Modified: 24 Feb 2012 14:59
URI: http://eprints.ibu.edu.ba/id/eprint/183

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