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Growth Performance of the Turkish Economy: The Role of the Informal Sector

Author

Listed:
  • Ceyhun Elgin

    (Bogazici University, Economics)

  • Oguz Oztunalı

    (Bogazici University, Economics)

Abstract

The presence of informality and its connection with economic growth has been a contentious issue on which the current literature has failed to generate a consensus. In this study, first, we investigate the growth performance of the Turkish economy through the lenses of a simple growth accounting exercise. Moreover, we also extend the growth accounting framework to account for the presence of an informal sector and give emphasis on how the presence of a relatively large informal sector in Turkey (about 28 % of GDP, according to recent estimates) affects growth of the official economy as well as its determinants.

Suggested Citation

  • Ceyhun Elgin & Oguz Oztunalı, 2015. "Growth Performance of the Turkish Economy: The Role of the Informal Sector," EY International Congress on Economics II (EYC2015), November 5-6, 2015, Ankara, Turkey 4, Ekonomik Yaklasim Association.
    • Handle: RePEc:eyd:cp2015:4
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    More about this item

    Keywords

    Economic Growth; Growth Accounting; Turkish Economy; Informal Sector;
    All these keywords.

    JEL classification:

    • E26 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Informal Economy; Underground Economy
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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