An Alternative Model for the Regional Integration of SMEs: Eurasian Development Bank

Ayça Tükel
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Ayça Tükel: Okan University

Journal of Finance Letters (Maliye ve Finans Yazıları), 2010, vol. 25, issue 89, 73-90

Abstract: Turkey is now in the middle of a global restructuring process from economic and political angles. The ultimate results of this transformation process on Turkey exactly depend on the politic decisions. Small and Medium Size Enterprises (SME) are considered to be the most important performers of economical dynamics for Turkey as well as fort he whole world. So, it is a necessity to give an emphasize on SMEs in the globalization process. This is not just a choice related with economic matters; but also a preference for politic and security issues. Considering the role of SMEs on national economies with intense competition, it appears that it is a priority to support SMEs in order to provide a sustainable advantage of competition for nations. On the other hand, it is inevitable to face growing inequalities in income distribution in economies with lower employment while others experience economical growth; it is again the SMEs who will balance income distribution aright. SMEs are structures that can smoothly adapt both local and global alternations and transformations. Thus, SMEs are the primary actors that can improve the relative position of Turkey in the global economy and furthermore provide sustainable competitive advantage. This research is intended to offer a new structure called Avrasya Development Bank that have the potential to meet the external financial requirements of SMEs. Avrasya Development Bank should be considered as a project developed for the common advantages of Chambers of Commerce and SMEs of countries that will become its customers. In this context, the necessary funds for planned projects in strategic, geographical and economical fields by the SMEs of member countries will be provided by the bank. In our proposed model, there are both (i) financial supports for SMEs at interest rates lower than market rates, and (ii) reorganizational support and generation of a new database for SMEs including institutionalization, accessing new markets and integration.

Keywords: SMEs; Financial Support; Development Bank; Economic Crisis (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:acc:malfin:v:25:y:2010:i:89:p:73-90

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