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Economic Growth under Embargoes in North Cyprus: An Input-Output Analysis

Author

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  • Guncavdi, Oner
  • Kucukcifci, Suat

Abstract

The North Cyprus economy has been under economic embargoes for many years, and has been struggling to eradicate the income difference with the south of the island with extremely limited facilities. Successive governments have accordingly developed distinctive responses to cope with these difficulties. The paper examines these features of the North Cyprus economy with a particular emphasis on its response to economic embargoes. The paper also examines how important economic embargoes would be (or have been) in the North Cypriot economy. For this purpose total economic growth is decomposed with respect to different components of demand. The results show that despite the presence of embargoes, external demand and the availability of import flows are detrimental factors for economic growth. Also domestic final demand is an equally important source of growth in the North Cyprus economy.

Suggested Citation

  • Guncavdi, Oner & Kucukcifci, Suat, 2008. "Economic Growth under Embargoes in North Cyprus: An Input-Output Analysis," MPRA Paper 9621, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:9621
    as

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    File URL: https://mpra.ub.uni-muenchen.de/9621/1/MPRA_paper_9621.pdf
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    References listed on IDEAS

    as
    1. Read, Robert, 2001. "Growth, Economic Development and Structural Transition in Small Vulnerable States," WIDER Working Paper Series 059, World Institute for Development Economic Research (UNU-WIDER).
    2. Guncavdi Oner & Kucukcifci Suat, 2005. "Financial Reforms and the Decomposition of Economic Growth: An Investigation of the Changing Role of the Financial Sector in Turkey," Review of Middle East Economics and Finance, De Gruyter, vol. 3(1), pages 61-84, April.
    Full references (including those not matched with items on IDEAS)

    More about this item

    JEL classification:

    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • F19 - International Economics - - Trade - - - Other

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