Rise and fall fo the wealth of nations

Dr. Oktay Yenal is a well-known economist from Turkey who till recently was Chief of the World Bank's Resident Mission in India. He was educated at Robert College, Istanbul, the London School of Economics and Istanbul University. He began his career as Professor of Economics in Istanbul, during which period he was also Senior Economist at the State Planning Organization. He has been a Post Doctoral Fellow at Chicago University, Visiting Professor at Princeton University, and Fellow of the Institute of Development Studies, Sussex University. Over the last two decades, he has been Chief of the Public and Private Finance Division and Chief Economist for the East Africa, Asia, and East Asia and Pacific Regions at the World Bank. Apart from a number of articles, he has written Development of the Financial System in Turkey (London: 1967). This paper is based on the text of his Farewell Lecture at RGICS on 16 June 1994.