The Evolution and Determinants of Profitability in Turkish Manufacturing Industry, 1997-2006
The objective of this study is to analyse the response capacity of Turkish manufacturing industry to growing international competition from low-wage countries and to real exchange rate fluctuations. To analyse these competitive pressures and the responses of enterprises, developments in profit margins on exports and domestic sales and their main determinants have been estimated in a range of manufacturing sectors. This analysis reveals the emergence of three clusters in Turkish manufacturing industry : highly competitive, intermediary and declining sectors. The respective profitability performances of these clusters reflect on their growth dynamics: more profitable activities produce, export and create employment more than the others.
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