This thesis is concerned with financial innovation in the Turkish banking sector. The primary
aim of the thesis is to analyse why financial innovation has started to appear relatively late in
the Turkish financial system in comparison with developed financial systems. In addition, it
also aims to ascertain whether and to what extent Turkish banks employ financial derivative
instruments and asset-backed securitisation. [Continues.]
A Master's Thesis. Submitted in partial fulfilment of the requirements for the award of Master of Philosophy at Loughborough University.