SUMERBANK AND ITS EFFICIENCY IN THE DEVELOPMENT OF TURKEY (1933-1987)

Abstract

The development of Turkey within the scope of national economic development has always been among the issues included in the programs of early Governments of Turkish Republic, especially of Mustafa Kemal Atatürk’s. In this respect, industrialization was handled as one of the most important stages of development. Within the context of industrialization efforts, various attempts were made during the period of 1923-1930. Yet expected achievements couldn’t be realized. Considering the conditions of the period, an economic policy based on
the principle of statism was started to be followed instead of a mixed economic structure beginning from the early 1930’s in order to develop rapidly and efficiently. Thus, the road for state-funded investment was opened.

In order to manage, support and sustain the establishment process in state-funded investments, Sumerbank was founded in 1933. Sumerbank, being the first State Economic Enterprise, was named personally by Mustafa Kemal Atatürk. Sumerbank contributed significantly to the economy through the factories, the businesses and establishments it established in many parts of the country during its period of operation.

The system changes experienced in economic policies and the customization applications realized from the beginning of 1980’s also affected Sumerbank. The institution continued its operations with the name of Sumerbank Holding A.Ş. in 1987. In this article, the period of 1933-1987 has been tried to be evaluated, in which the institution continued its operations per se with the name Sumerbank.