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Turkey: bankruptcy of neoliberal policies and the possibility of alternatives

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  • Ozgur Orhangazi

    (Department of Economics, University of Massachusetts, Amherst, MA 01003, USA)

Abstract

The year 2001 in Turkey has been marked by a destructive economic crisis. This paper argues that the crisis can neither be explained solely by the coincidence of independent events nor by technical problems of economic policies. The increased fragility of the system after the implementation of an IMF-directed "disinflation and stabilization" program paved the way for the collapse of both the program itself and the economy. Insistence on these types of policies will only worsen the conditions, and results of the policies are both economically and socially undesirable. This paper proposes alternative policies and tools, which will provide improvements in growth, employment, and income distribution.

Suggested Citation

  • Ozgur Orhangazi, 2002. "Turkey: bankruptcy of neoliberal policies and the possibility of alternatives," Review of Radical Political Economics, Union for Radical Political Economics, vol. 34(3), pages 335-341, September.
    • Handle: RePEc:sae:reorpe:v:34:y:2002:i:3:p:335-341
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    Citations

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    Cited by:

    1. Madlener, Reinhard & Kumbaroglu, Gurkan & Ediger, Volkan S., 2005. "Modeling technology adoption as an irreversible investment under uncertainty: the case of the Turkish electricity supply industry," Energy Economics, Elsevier, vol. 27(1), pages 139-163, January.
    2. Özgür Orhangazi & A. Erinç Yeldan, 2021. "The Re‐making of the Turkish Crisis," Development and Change, International Institute of Social Studies, vol. 52(3), pages 460-503, May.
    3. Mathieu Dufour & Ozgur Orhangazi, 2009. "The 2000-2001 Financial Crisis in Turkey: A Crisis for Whom?," Review of Political Economy, Taylor & Francis Journals, vol. 21(1), pages 101-122.

    More about this item

    Keywords

    Financial crisis; IMF; Turkey;
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