Advanced Search
MyIDEAS: Login to save this paper or follow this series

Public policy and private investment in Turkey

Contents:

Author Info

  • Chhibber, Ajay
  • van Wijnbergen, Sweder

Abstract

Developing countries trying to emerge from recessionary spirals must recognize the importance of public/private interactions in designing growth oriented adjustment programs. They must appreciate the complex impact of fiscal policy on the economy. Turkey is an interesting country for studying how public policy can stimulate private investment. The reason, is that unlike other high debt countries, Turkey has managed to increase the rate of investment in recent years despite external constraints and high real interest rates. Turkey's strategy nevertheless has limits. The surges in public investment in 1986 and 1987 have since hurt macro stability. Private investment has tilted toward such non-tradables as housing - partly as a result of special credit schemes directed at mass housing and partly because housing investment is an attractive investment against inflation. Unless corrected, this shift could hurt future export prospects.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www-wds.worldbank.org/servlet/WDSContentServer/WDSP/IB/1988/10/01/000009265_3960927063856/Rendered/PDF/multi_page.pdf
Download Restriction: no

Bibliographic Info

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 120.

as in new window
Length:
Date of creation: 31 Oct 1988
Date of revision:
Handle: RePEc:wbk:wbrwps:120

Contact details of provider:
Postal: 1818 H Street, N.W., Washington, DC 20433
Phone: (202) 477-1234
Email:
Web page: http://www.worldbank.org/
More information through EDIRC

Related research

Keywords: Financial Intermediation; Trade and Regional Integration; International Terrorism&Counterterrorism; Economic Theory&Research; Environmental Economics&Policies;

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Elliott, J W, 1973. "Theories of Corporate Investment Behavior Revisited," American Economic Review, American Economic Association, American Economic Association, vol. 63(1), pages 195-207, March.
  2. van Wijnbergen, Sweder, 1989. "External Debt, Inflation, and the Public Sector: Toward Fiscal Policy for Sustainable Growth," World Bank Economic Review, World Bank Group, World Bank Group, vol. 3(3), pages 297-320, September.
  3. Eisner, Robert, 1970. "Tax Policy and Investment Behavior: Further Comment," American Economic Review, American Economic Association, American Economic Association, vol. 60(4), pages 746-52, September.
  4. van Wijnbergen, S., 1982. "Stagflationary effects of monetary stabilization policies : A quantitative analysis of South Korea," Journal of Development Economics, Elsevier, Elsevier, vol. 10(2), pages 133-169, April.
  5. Jorgenson, Dale W, 1971. "Econometric Studies of Investment Behavior: A Survey," Journal of Economic Literature, American Economic Association, American Economic Association, vol. 9(4), pages 1111-47, December.
  6. Chhibber, Ajay & Khalilzadeh-Shirazi, Javad, 1988. "Public finance in adjustment programs," Policy Research Working Paper Series 128, The World Bank.
  7. Eisner, Robert, 1972. "Components of Capital Expenditures: Replacement and Modernization Versus Expansion," The Review of Economics and Statistics, MIT Press, vol. 54(3), pages 297-305, August.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Eshun, Maame Esi & Adu, George & Buabeng, Emmanuel, 2014. "THE financial determinants of private investment in ghana," MPRA Paper 57570, University Library of Munich, Germany.
  2. Ahmad, Imtiaz & Qayyum, Abdul, 2009. "Role of Public Expenditures and Macroeconomic Uncertainty in Determining Private Investment in Large Scale Manufacturing Sector of Pakistan," MPRA Paper 29268, University Library of Munich, Germany.
  3. Ahmed Badawi, 2003. "Private capital formation and public investment in Sudan: testing the substitutability and complementarity hypotheses in a growth framework," Journal of International Development, John Wiley & Sons, Ltd., vol. 15(6), pages 783-799.
  4. Chhibber, Ajay & Dailami, Mansoor, 1990. "Fiscal policy and private investment in developing countries : recent evidence on key selected issues," Policy Research Working Paper Series 559, The World Bank.
  5. Matin, Kazi M. & Wasow, Bernard, 1992. "Adjustment and private investment in Kenya," Policy Research Working Paper Series 878, The World Bank.
  6. Oner Guncavdi-super-˙ & Andrew McKay, 2003. "Macroeconomic adjustment and private manufacturing investment in Turkey: a time-series analysis," Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 35(18), pages 1901-1909.
  7. Öner Günçavdi & Michael Bleaney & Andrew McKay, 1999. "The response of private investment to structural adjustment-a case study of Turkey," Journal of International Development, John Wiley & Sons, Ltd., vol. 11(2), pages 221-239.
  8. Krishna Rao Akkina & Mehmet Ali Celebi, 2002. "The Determinants of Private Fixed Investment and the Relationship between Public and Private Capital Accumulation in Turkey," The Pakistan Development Review, Pakistan Institute of Development Economics, Pakistan Institute of Development Economics, vol. 41(3), pages 243-254.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:wbk:wbrwps:120. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Roula I. Yazigi).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.