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Not-Quite-Great Depressions of Turkey: A Quantitative Analysis of Economic Growth over 1968 - 2004

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  • Ceyhun Elgin

    (University of Minnesota)

  • Deniz Cicek

    (University of Minnesota)

Abstract

Following the great depressions methodology suggested by Cole and Ohanian (1999) and Kehoe and Prescott (2002, 2007), we use growth accounting and standard dynamic general equilibrium models to study growth performance of Turkey from 1968 to 2004. We find that the primary source of output growth in Turkey was growth in total factor productivity, rather than growth in labor and capital inputs. Among the various specifications of dynamic general equilibrium models employed, the one with capital adjustment costs and variable taxes comes closest to account for the data. This suggests that rigidities affecting capital accumulation and distortionary taxes have a crucial role in explaining the evolution of the Turkish economy.

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Bibliographic Info

Paper provided by Society for Economic Dynamics in its series 2009 Meeting Papers with number 407.

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Date of creation: 2009
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Handle: RePEc:red:sed009:407

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  1. Raphael Bergoeing & Patrick J. Kehoe & Timothy J. Kehoe & Raimundo Soto, 2002. "Data Appendix to A Decade Lost and Found: Mexico and Chile in the 1980s," Technical Appendices bergoeing02, Review of Economic Dynamics.
  2. Raphael Bergoeing & Patrick J. Kehoe & Timothy J. Kehoe & Raimundo Soto, 2001. "A Decade Lost and Found: Mexico and Chile in the 1980s," Documentos de Trabajo 110, Centro de Economía Aplicada, Universidad de Chile.
  3. Juan Carlos Conesa & Timothy J. Kehoe & Kim J. Ruhl, 2007. "Modeling Great Depressions: The Depression in Finland in the 1990s," NBER Working Papers 13591, National Bureau of Economic Research, Inc.
  4. Timothy J. Kehoe, 2003. "What Can We Learn from the Current Crisis in Argentina?," Scottish Journal of Political Economy, Scottish Economic Society, vol. 50(5), pages 609-633, November.
  5. Timothy Kehoe & Edward Prescott, 2002. "Data Appendix to Great Depressions of the Twentieth Century," Technical Appendices kehoe02, Review of Economic Dynamics.
  6. Timothy J Kehoe & Kim J. Ruhl, 2003. "Recent Great Depressions: Aggregate Growth in New Zealand and Switzerland," Levine's Working Paper Archive 506439000000000529, David K. Levine.
  7. Paul Beaudry & Franck Portier, 2002. "Data Appendix to The French Depression in the 1930s," Technical Appendices beaudry02, Review of Economic Dynamics.
  8. Timothy J. Kehoe & Edward C. Prescott (), 2007. "Great depressions of the twentieth century," Monograph, Federal Reserve Bank of Minneapolis, number 2007gdott.
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Cited by:
  1. Ceyhun ELGİN & Tolga Umut KUZUBAŞ, 2012. "Wage-Productivity Gap in Turkish Manufacturing Sector," Iktisat Isletme ve Finans, Bilgesel Yayincilik, vol. 27(316), pages 09-31.
  2. Elgin, Ceyhun & Yucel, Emekcan, 2014. "Determinants of the weight for leisure in preferences," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy, vol. 8(9), pages 1-26.
  3. Ceyhun Elgin & Oğuz Öztunalı, 2014. "Environmental Kuznets Curve for the Informal Sector of Turkey (1950-2009)," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 61(4), pages 471-485, September.
  4. Attar, M. Aykut, 2013. "Growth and Demography in Turkey: Economic History vs. Pro-Natalist Rhetoric," MPRA Paper 47275, University Library of Munich, Germany.
  5. Dalton, John, 2012. "The Evolution of Taxes and Hours Worked in Austria, 1970-2005," MPRA Paper 48222, University Library of Munich, Germany.

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