Şevket Pamuk

Bogazici University, Ataturk Institute for Modern Turkish History, Faculty Member

Bogazici University, Economics, Faculty Member

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Phone: 0212 359 65 80
Address: The Ataturk Institute for Modern Turkish History and Department of Economics
Bogaziçi (Bosphorus) University
34342 Bebek-Istanbul / Turkey

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Books by Şevket Pamuk

Uneven Centuries, Economic Development in Turkey since 1820

Princeton University Press, Princeton, New Jersey, 2018

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Türkiye'nin 200 Yıllık İktisadi Tarihi: Büyüme, Kurumlar ve Bölüşüm. Turkey’s Economic History since 1820: Growth, Institutions and Distribution (In Turkish)

Türkiye Iş Bankasi Kultur Yayinlari, Istanbul, 2014

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Osmanlıdan Cumhuriyete Küreselleşme, Iktisat Politikaları ve Büyüme (From the Ottoman Era to the Republic, Globalisation, Economic Policies and Growth)

Türkiye Iş Bankasi Kultur Yayinlari, Istanbul, 2008

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Osmanlı Ekonomisi ve Kurumları (The Ottoman Economy and Its Institutions), Selected Articles

Türkiye Iş Bankasi Kultur Yayinlari, Istanbul, 2007

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The Mediterranean Response to Globalization Before 1850.

Routledge Press, London and New York., 2000

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A Monetary History of the Ottoman Empire.

, Cambridge University Press, Cambridge and New York, 2000

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Osmanlı İmparatorluğu'nda Paranın Tarihi

, Tarih Vakfı Yurt Yayınları, Istanbul, 1999

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Osmanlı-Türkiye İktisadi Tarihi 1500-1914

İletişim Yayınları, 2005

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A History of the Middle East Economies in the Twentieth Century

I.B. Tauris Publishers and Harvard University Press, London and Cambridge, Mass. , 1998

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İstanbul ve Diğer Kentlerde 500 Yıllık Fiyatlar ve Ücretler, 1489-1998 (500 Years of Prices and Wages in Istanbul and Other Cities), (published in Turkish with English translations).

Devlet İstatistik Enstitüsü, State Institute of Statistics, Ankara, 2001

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The Ottoman Empire and European Capitalism 1820-1913: Trade, Investment and Production.

Cambridge University Press, Cambridge and New York, 1987

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Osmanlı Ekonomisinde Bağımlılık ve Büyüme

Tarih Vakfı Yurt Yayınları, Istanbul,, 1984

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Papers by Şevket Pamuk

Regional inequalities and the West–East divide in Turkey since 1913

The Economic History Review

This paper examines the evolution of regional disparities within the present‐day borders of Turke... more This paper examines the evolution of regional disparities within the present‐day borders of Turkey since 1913. Based on our estimates for 58 provinces, we find β‐convergence, an inverse U, and more recently, the beginnings of an N‐shaped pattern for value added per capita. We also find that regional disparities in Turkey exhibit a number of special features that do not easily fit the well‐studied pattern of the early industrializers. First, while per capita value added in other regions moved towards country averages, the differences between the East and the rest of the country persisted and even increased until recently. Second, spatial distribution of economic activity became more concentrated over time due to continued migration to the megacity of Istanbul. Third, we find that regional disparities in per capita value added in Turkey and other developing countries have been higher than those experienced by the early industrializers. These findings raise questions about the extent t...

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Economic Development and Institutional Change, 1950–1980

Uneven Centuries, 2018

This chapter explores how the decades after World War II were a period of rapid growth for Turkey... more This chapter explores how the decades after World War II were a period of rapid growth for Turkey. Despite the crises in the mid-1950s and in the second half of the 1970s, GDP per capita increased at an average annual rate above three percent and more than doubled during the period 1950–1980. These rates of growth were unprecedented for Turkey. The long-term rates of growth achieved in Turkey after World War II were roughly comparable to the averages for both the developed countries and developing countries as a whole. As a result, the per capita GDP gap between Turkey and the developed countries changed little during this period.

Economic Growth in Southeastern Europe and Eastern Mediterranean, 1820-1914

Economic Alternatives, 2016

This article brings together and analyzes data and other evidence from a variety of sources to pr... more This article brings together and analyzes data and other evidence from a variety of sources to provide an overview of the growth record of southeastern Europe and the Middle East from 1820 until the First World War. Average incomes in these two regions increased at long term rates between a half and one percent per year during the nineteenth century. Institutional changes and development of export oriented agriculture are seen as the main reasons for the increases in per capita incomes. However, the income gap between these two regions and the industrializing countries of western Europe and the United States steadily widened until 1914.

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Osmanlı devleti ve Avrupa devletlerinde tağşişler ve nedenleri (1326-1844)

METU Studies in Development, 2016

Bu calisma, Osmanli tarihindeki tagsislerin, yani parasal hesap biriminin gumus icerigindeki dusu... more Bu calisma, Osmanli tarihindeki tagsislerin, yani parasal hesap biriminin gumus icerigindeki dususlerin, sebeplerini incelemeyi amaclamaktadir. Calismamizin onemli bir katkisi, Avrupa devletleri icin yeni olusturdugumuz genis kapsamli bir tagsis veri setini kullanarak Osmanli tagsislerini karsilastirmali perspektife yerlestirmesidir. Elimizdeki veriler, hem Osmanli hem de diger Avrupa devletlerinin tagsislere gelir elde etmek icin basvurdugu savini destekler. Avrupa devletlerinin cogu, artan vergi gelirleri ve toplumsal muhalefet sonucu 17. ve 18. yuzyilda tagsislere son verirken, Osmanli, dusuk vergi gelirleri ve sinirli toplumsal muhalefet dolayisiyla 19. yuzyil ortasina kadar tagsislere devam etmistir.

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Prices and Real Wages in the Middle East, 1469 to 1914

Topics in Middle Eastern andNorth African Economies, 2000

Utilizing a large volume of archival documents, this paper establishes for the first time the lon... more Utilizing a large volume of archival documents, this paper establishes for the first time the long-term trends in consumer prices and wages of skilled and unskilled construction workers in Istanbul and more generally around the Eastern Mediterranean from the second half of the fifteenth century until World War I. These series are then inserted into a larger framework of price and wage trends in European cities during the same period. Our series show that real wage differences between Istanbul and the leading cities in Western Europe existed as early as the sixteenth century. Although these differences widened during the nineteenth century, they were still smaller on the eve of World War I than the differences suggested by the existing series on GDP per capita between Turkey and the respective European countries. These results suggest caution about using wages in a leading city or urban wages more generally as a proxy for GDP per capita or the standards of living in a given country.

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Remembering Mehmet Genç (1934–2021), economic historian of the Ottoman Empire

New Perspectives on Turkey, 2021

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Ottoman Empire: from 1830 to 1914

The 19th century was characterised by the efforts of the Ottoman government to bring the monetary... more The 19th century was characterised by the efforts of the Ottoman government to bring the monetary system in line with the global trends towards bimetallism and the gold standard. A chronology of the major monetary events and reforms since 1834 is provided in Table 1. In a nutshell, in 1834 the Ottoman government took its first step towards de facto bimetallism by accepting gold and silver as legal tender. In 1844, the new bimetallic system was officially introduced together with a monetary reform, which brought an end to the long history of debasements.

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New Perspectives on Turkey roundtable on the COVID-19 pandemic : prospects for the international political economic order in the post-pandemic world

New Perspectives on Turkey, 2020

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Uneven Centuries, Economic Development in Turkey since 1820

Princeton University Press, Princeton, New Jersey, 2018

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Türkiye'nin 200 Yıllık İktisadi Tarihi: Büyüme, Kurumlar ve Bölüşüm. Turkey’s Economic History since 1820: Growth, Institutions and Distribution (In Turkish)

Türkiye Iş Bankasi Kultur Yayinlari, Istanbul, 2014

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Osmanlıdan Cumhuriyete Küreselleşme, Iktisat Politikaları ve Büyüme (From the Ottoman Era to the Republic, Globalisation, Economic Policies and Growth)

Türkiye Iş Bankasi Kultur Yayinlari, Istanbul, 2008

Download

Osmanlı Ekonomisi ve Kurumları (The Ottoman Economy and Its Institutions), Selected Articles

Türkiye Iş Bankasi Kultur Yayinlari, Istanbul, 2007

Download

The Mediterranean Response to Globalization Before 1850.

Routledge Press, London and New York., 2000

Download

A Monetary History of the Ottoman Empire.

, Cambridge University Press, Cambridge and New York, 2000

Download

Osmanlı İmparatorluğu'nda Paranın Tarihi

, Tarih Vakfı Yurt Yayınları, Istanbul, 1999

Download

Osmanlı-Türkiye İktisadi Tarihi 1500-1914

İletişim Yayınları, 2005

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A History of the Middle East Economies in the Twentieth Century

I.B. Tauris Publishers and Harvard University Press, London and Cambridge, Mass. , 1998

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İstanbul ve Diğer Kentlerde 500 Yıllık Fiyatlar ve Ücretler, 1489-1998 (500 Years of Prices and Wages in Istanbul and Other Cities), (published in Turkish with English translations).

Devlet İstatistik Enstitüsü, State Institute of Statistics, Ankara, 2001

Download

The Ottoman Empire and European Capitalism 1820-1913: Trade, Investment and Production.

Cambridge University Press, Cambridge and New York, 1987

Download

Osmanlı Ekonomisinde Bağımlılık ve Büyüme

Tarih Vakfı Yurt Yayınları, Istanbul,, 1984

Download

Regional inequalities and the West–East divide in Turkey since 1913

The Economic History Review

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Economic Development and Institutional Change, 1950–1980

Uneven Centuries, 2018

Economic Growth in Southeastern Europe and Eastern Mediterranean, 1820-1914

Economic Alternatives, 2016

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Osmanlı devleti ve Avrupa devletlerinde tağşişler ve nedenleri (1326-1844)

METU Studies in Development, 2016

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Prices and Real Wages in the Middle East, 1469 to 1914

Topics in Middle Eastern andNorth African Economies, 2000

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Remembering Mehmet Genç (1934–2021), economic historian of the Ottoman Empire

New Perspectives on Turkey, 2021

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Ottoman Empire: from 1830 to 1914

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New Perspectives on Turkey roundtable on the COVID-19 pandemic : prospects for the international political economic order in the post-pandemic world

New Perspectives on Turkey, 2020

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Money and monetary stability in Europe, 1300–1914

Journal of Monetary Economics, 2019

This Discussion Paper is issued under the auspices of the Centre's research programme in ECONOMIC... more This Discussion Paper is issued under the auspices of the Centre's research programme in ECONOMIC HISTORY and MONETARY ECONOMICS AND FLUCTUATIONS. Any opinions expressed here are those of the author(s) and not those of the Centre for Economic Policy Research. Research disseminated by CEPR may include views on policy, but the Centre itself takes no institutional policy positions. The Centre for Economic Policy Research was established in 1983 as an educational charity, to promote independent analysis and public discussion of open economies and the relations among them. It is pluralist and non-partisan, bringing economic research to bear on the analysis of medium-and long-run policy questions. These Discussion Papers often represent preliminary or incomplete work, circulated to encourage discussion and comment. Citation and use of such a paper should take account of its provisional character.

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Editor's introduction: Turkey's experience with neoliberal policies and globalization since 1980

New Perspectives on Turkey, 2012

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South‐eastern European monetary and economic statistics from the nineteenth century to World War II (Athens: Bank of Greece, Sofia: Bulgarian National Bank, Bucharest: National Bank of Romania, Vienna: Oesterreicshische Nationalbank, 2014. Pp. 405. 87 figs. 137 tabs. (www.bankofgreece.gr/Pages/en...

The Economic History Review, 2016

Foreword by Yannis Stournaras Ever since its establishment, the Bank of Greece (BoG) has shown ke... more Foreword by Yannis Stournaras Ever since its establishment, the Bank of Greece (BoG) has shown keen interest in Greece's economic and monetary history, although its historical publications so far include mainly anniversary editions focusing on the Bank's history. The invitation to establish, together with the Bulgarian National Bank, a network of scholars-researchers in the monetary history and policy of SouthEast Europe in April 2006 and the BoG's active support and participation were seen as an opportunity to deepen its understanding of Greece's historical experience and identify its key determinants, with a view to reaching safe conclusions that would serve as an input to policy making. The strengthening of traditional economic links with the countries of SouthEast Europe through the expansion of the Greek banking system, Greek corporations, trade and tourism in the last few decades underlines the need to not only monitor economic developments in the region, but also understand historical facts and experiences. Besides, the long coexistence of the countries in the region has forged cultural bonds that remain strong to our day. Learning from Greece's experience and comparing it with the experiences of SouthEast European countries allow the creation of a valuable historical database, continuously enriched with new data. This will provide economic agents and policy makers with useful information on policy responses and outcomes. Quantitative data are an essential tool in this respect. In this direction, the Bank of Greece considers this book as a first effort to create a reliable and comprehensive statistical database of long-term time series on crucial macroeconomic aggregates. Compiling, processing and checking data and constructing indices for such long and distant time periods is an arduous and long procedure. It also requires in-depth knowledge of the institutional framework of the domestic and international economic system and policy conduct. This database is continuously enriched. This project is expected to deliver considerable benefits. The BoG hopes that this statistical database will serve as a first infrastructure for the international academic community to systematically develop research in the economic, monetary and banking history of SouthEast Europe, tapping into existing knowledge and offering new inputs that will provide timely information to economic policy makers.

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Son İki̇ Yüzyilda Türki̇ye'De Geli̇ri̇n Bölüşümü (Income Distribution in Turkey During the Last Two Centuries)

Metu Studies in Development, Aug 2, 2013

Bu yazıda 1820-2010 döneminde bugünkü Türkiye sınırları içindeki alanda gelirin bölüşümü bir bütü... more Bu yazıda 1820-2010 döneminde bugünkü Türkiye sınırları içindeki alanda gelirin bölüşümü bir bütün olarak inceleniyor. Türkiye'de gelir bölüşümünün üç ana unsuru, a) tarım kesimi içindeki, b) tarım kesimi ile kent ekonomisi arasındaki ve c) kent ekonomisi içindeki gelir bölüşümü, mümkün olduğu ölçüde basit ve kolay erişebilir göstergeler kullanılarak izleniyor ve dönemler arası karşılaştırmalar yapılmaya çalışılıyor. Son iki yüzyılda Türkiye'de gelir bölüşümünün en dengeli olduğu iki alt-dönemin açık ekonomi koşullarında tarım ağırlıklı bir ekonomi modelinin geçerli olduğu ve iktisadi büyümenin henüz yeni başladığı 19. yüzyıl ile İkinci Dünya Savaşı sonrasındaki çok partili, ithal ikamesi dönemi olduğu sonucuna varılıyor.

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Economic change in twentieth-century Turkey: is the glass more than half full?

The Cambridge History of Turkey

Ottoman State Finances in European Perspective, 1500–1914

The Journal of Economic History, 2010

The early modern era witnessed the formation across Europe of centralized states that captured in... more The early modern era witnessed the formation across Europe of centralized states that captured increasing shares of resources as taxes. These states not only enjoyed greater capacity to deal with domestic and external challenges, they were also able to shield their economies better against wars. This article examines the Ottoman experience with fiscal centralization using recently compiled evidence from budgets. It shows that due to high shares of intermediaries, Ottoman revenues lagged behind those of other states in the seventeenth and eighteenth centuries. Ottomans responded to military defeats, however, and achieved significant increases in central revenues during the nineteenth century.

Estimating Economic Growth in the Middle East since 1820

The Journal of Economic History, 2006

Plagues, Wages, and Economic Change in the Islamic Middle East, 700–1500

The Journal of Economic History, 2014

This study establishes long-term trends in the purchasing power of the wages of unskilled workers... more This study establishes long-term trends in the purchasing power of the wages of unskilled workers and develops estimates for GDP per capita for medieval Egypt and Iraq. Wages were heavily influenced by two long-lasting demographic shocks, the Justinian Plague and the Black Death and the slow population recovery that followed. As a result, they remained above the subsistence minimum for most of the medieval era. We also argue that the environment of high wages that emerged after the Justinian Plague contributed to the Golden Age of Islam by creating demand for higher income goods.

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A Monetary History of the Ottoman Empire

Journal of the American Oriental Society, 2002

List of maps, graphs, and tables page xii List of illustrations xiv Preface xvii Acknowledgments ... more List of maps, graphs, and tables page xii List of illustrations xiv Preface xvii Acknowledgments xviv Note on transliteration xxvi 1 Introduction 1 Trade, money, and states in the Mediterranean basin 1 Ottoman economic policies 9 Money, economy, and the Ottoman state 16 A periodization 19 2 Trade and money at the origins 21 Gold and silver; East and West 21 Byzantine Empire and the Balkans 26 Anatolia 28 Early Ottoman coinage 30 Mints and their administration 34 Silver mines 36 Copper coinage 38 3 Interventionism and debasements as policy 40 Centralization and interventionism 41 The silver famines 43 The debasements of Mehmed II 47 Motives and explanations 50 Towards a political economy of Ottoman debasements 55 4 The emerging monetary system 59 The gold sultani: an``international'' coin 59 Foreign coins 62 Gold±silver±copper 66 Bimetallism or silver monometallism? 70 Increasing use of money 74 ix 5 Credit and ®nance Credit Business partnerships State ®nances and ®nancing the state 6 Money and empire Monetary zones within the Empire The Balkans Egypt The shahi zone The Crimean akc Ëe The Maghrib Algeria Tunis Tripoli 7 The Price Revolution in the Near East revisited Competing explanations New evidence and a review of the old Why did prices rise in the Near East? Long-term consequences of the Price Revolution 8 Debasement and disintegration The debasement of 1585±86: a turning point? Fiscal crises and monetary instability Disappearance of the akc Ëe 9 In the absence of domestic currency Debased coinage in Ottoman markets Belated government intervention The return of copper coinage 10 The new Ottoman kurus Ë The Ottoman kurus Ë Economic expansion and ®scal stability Fiscal troubles and depreciaton of the kurus Ë 11 Linkages with the periphery The para in Egypt The riyal of Tunis Algeria Tripoli Crimea Convergence of currencies x Contents 12 The Great Debasement Attempts at ®nancial centralization Evolution of internal borrowing The Great Debasement (1808±34) Financing the state: The Galata bankers 13 From bimetallism to the``limping gold standard'' Integration to the world economy Bimetallism, new coinage, and paper money Banks for lending to the state External borrowing The limping gold standard Commercial banking The Financing of World War I 14 Conclusions Appendix I Excerpts from Ottoman laws on taxation, money, mints, and mines Appendix II Price indices for Istanbul, 1469±1914 Appendix III A note on basic economic and monetary magnitudes Bibliography Index Contents xi Illustrations Money in the Ottoman Empire

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Institutional Change and the Longevity of the Ottoman Empire, 1500–1800

The Journal of Interdisciplinary History, 2004

The central bureaucracy of the Ottoman Empire adapted the empire's economic, monetary, and mi... more The central bureaucracy of the Ottoman Empire adapted the empire's economic, monetary, and military institutions to changing circumstances with a degree of flexibility and pragmatism that permitted the empire to endure longer than contemporary empires in Asia and Western Europe. However, because it directed its policies primarily toward preserving the traditional order, including its own dominance, it tended to stifle capital accumulation in private hands and the creation of a broad power base, thus ultimately leading to the empire's disintegration.

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Sources of long-term economic growth for Turkey, 1880-2005

European Review of Economic History, 2008

The Black Death and the origins of the 'Great Divergence' across Europe, 1300-1600

European Review of Economic History, 2007

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