The Demand for Alternative Finance: Evidence from the Turkish Savings Finance Sector - Hardcover

Über die Autorin bzw. den Autor

Murat Ustaoğlu is a Professor of Economics at Istanbul University, holding a Ph.D. (2013) and earlier degrees from Ramapo College and City University of New York. A former banker (Bank of New York and JP Morgan), he has held visiting positions at the London School of Economics, City University of New York, and the University of Toronto. His prolific research spans macroeconomics, finance, and AI in economics, with numerous books and journal publications. 

Ferda Yerdelen Tatoğlu is a distinguished Econometrician and full Professor at Istanbul University, renowned for her expertise in panel data and spatial econometrics. Author of pivotal texts like Panel Data Econometrics and contributor to journals such as Renewable Energy, her interdisciplinary research spans energy, public policy, and health economics. A founder of Omega Analiz, she merges academic rigor with practical innovation in global econometric applications.

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This book explores the Savings Finance model in Turkey, an interest-free financial system grounded in interest-free finance principles that came into being in the 1990s as an ethical alternative to conventional banking. The study examines the operational mechanisms of the model, particularly the collective savings pools for housing, vehicles, and workplaces. These pools circumvent the use of fixed interest rates by employing profit and loss sharing and managed fund pools. The book integrates theoretical analyses of interest-free finance and global models, such as ROSCAs, with empirical data from a nationwide survey of 662 participants. It assesses factors including public trust, theological sensitivities, and demographic influences on financial preferences.