2.11 Research and Development Activities

In 2013, the Working Papers and CBRT Research Notes on Economics prepared by the CBRT staff were posted on the CBRT website as a reflection of the importance that the CBRT attaches to academic studies. Accordingly, 46 new publications were added to the CBRT Working Papers series that are composed of refereed research papers. In addition, 31 new notes were added to the CBRT Research Notes on Economics to disseminate the results from research in the Turkish economy with a particular emphasis on macroeconomic developments and issues relevant to monetary policy, and thereby contributing to discussions on economic issues in a timely fashion.

The CBRT’s bi-annual refereed journal, the “Central Bank Review” covering topics such as macroeconomic stability, financial stability, liquidity management, payment, clearing and settlement systems and reserve management was published in four issues, one being a special edition, in 2013.

Concurrently, 20 of the articles prepared by the contributions of the Research and Monetary Policy Department staff were published in journals listed in the Social Sciences Citation Index. In 2013, 36 seminars were organized by the Research and Monetary Policy Department for participants from the Bank. In these seminars, presentations were given by lecturers from domestic and international universities, international organizations and fellow central banks.

Starting its activities officially on 30 April 2013, the Istanbul School of Central Banking (İMB) staff published 9 research papers; 4 of the papers were published in the CBRT Working Paper Series and 5 of the studies were published in the journals listed in the Social Sciences Citation Index.

In order to contribute to the Bank’s knowledge, communication and bilateral cooperation by conducting studies and organizing research programs with central banks’ economists, academics and expert researchers, the İMB organized 21 seminars, an international workshop titled “Summer Workshop 2013”and an international conference titled the “21st CEPR European Summer Symposium in International Macroeconomics 2013” jointly with the Centre for Economic Policy Research. Moreover, in 2013, the İMB hosted 16 researchers and central bankers within its visiting program. Economists from 8 different institutions joined the program designed to encourage studies on central banking.

In the Research-Development Laboratory, which was established in 2012 within the Banknote Printing Plant, research and development activities have been performed about high-quality raw materials, equipment, and technologies being used during the banknote production processes. In this regard, some research and studies have been conducted with universities for the refining and recycling of chemicals - the waste product of the production process. Application studies were done after a pilot plant was installed at the Banknote Printing Plant. Cooperative work has been performed with the National Research Centers regarding the security features used in the security printing, and relevant reports have been prepared. Some research was conducted to examine the possibility of producing some equipment used during the production process in the domestic market. Participation has been ensured in sectoral meetings and conferences, and developments have been closely monitored.