Growth and economic crises in Turkey: leaving behind a turbulent past?
AbstractTurkey's performance in the current crisis shows that it has managed to weather the global stormy conditions relatively well and avoid collapsing into a full-fledged currency and financial crisis. On the face of it, one could conclude economic reforms introduced since 2001 have paid off and today's performance marks a clean break with the past. But there are also indications that the Turkish economy still retains some of its old vulnerabilities. By determining how resilient Turkey's economy has become to domestic and international economic volatility, one can better assess the sustainability of the accelerated economic convergence process on which Turkey embarked after the 2001 crisis.
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Bibliographic InfoPaper provided by Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission in its series European Economy - Economic Papers with number 386.
Length: 38 pages
Date of creation: Oct 2009
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More information through EDIRC
Economic crisis; external vulnerabilities; growth; economic convergence; fiscal consolidation; structural reforms; enlargement; boom-bust growth pattern; Macovei;
Find related papers by JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
- P17 - Economic Systems - - Capitalist Systems - - - Performance and Prospects
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-05-15 (All new papers)
- NEP-ARA-2010-05-15 (MENA - Middle East & North Africa)
- NEP-CWA-2010-05-15 (Central & Western Asia)
- NEP-FDG-2010-05-15 (Financial Development & Growth)
- NEP-MAC-2010-05-15 (Macroeconomics)
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