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The objective of this paper is to provide an overview of the independent regulatory agencies (IRAs) in Turkey with a view towards assessing their independence characteristics. IRAs are characterized by organizational features that are very different than those of the traditional bureaucratic structures in Turkey. Examining how they came into existence and looking at their independence characteristics provides valuable insight into how the course of liberalization that Turkey started at the beginning of the 1980s has played itself out in the area of regulatory policy.