Productivity and Growth in an Unstable Emerging Market Economy : The Case of Turkey, 1960-2004
AbstractThis paper explores sources of growth in the Turkish economy by performing growth accounting exercises over the 1960-2004 period and relevant subperiods. It also analyzes the role of a number of important policy-related factors, such as infrastructure investment, macroeconomic instability, and imports, on total factor productivity (TFP) by performing cointegration and impulse response analyses. The results suggest that both TFP and capital accumulation were crucial sources of growth during the sample period. Nevertheless, TFP growth displayed enormous variation from 1960 to 2004. The descriptive and empirical evidence suggests that TFP is positively affected by imports and public infrastructure investment and negatively affected by macroeconomic instability.
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Bibliographic InfoPaper provided by Bilkent University, Department of Economics in its series Departmental Working Papers with number 0801.
Date of creation: 2008
Date of revision:
Other versions of this item:
- Mustafa Ismihan & Kivilcim Metin-Ozcan, 2009. "Productivity and Growth in an Unstable Emerging Market Economy: The Case of Turkey, 1960-2004," Emerging Markets Finance and Trade, M.E. Sharpe, Inc., vol. 45(5), pages 4-18, September.
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- Aleksandra Parteka & Joanna Wolszczak-Derlacz, 2012.
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1202, Instytut Rozwoju, Institute for Development.
- Aleksandra Parteka & Joanna Wolszczak-Derlacz, 2013. "The Impact of Trade Integration with the European Union on Productivity in a Posttransition Economy: The Case of Polish Manufacturing Sectors," Emerging Markets Finance and Trade, M.E. Sharpe, Inc., vol. 49(2), pages 84-104, March.
- Aleksandra Parteka & Joanna Wolszczak-Derlacz, 2011. "Market Size, Competitiveness and Technological Frontier - the Impact of Trade Integration with the UE on Productivity in Polish Manufacturing Sectors," National Bank of Poland Working Papers 82, National Bank of Poland, Economic Institute.
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