Abstract
Turkey since 1980 has been immersed in an extensive price-driven restructuring of its economy. Structural adjustment to improve economic efficiency and increase trade surpluses has been stimulated by adjustments in real interest and exchange rates. Given that the stimulus to the restructuring was the severe international debt crisis of 1978–80, the yardstick of short-term success has naturally been the improvement in export performance; this has in fact been striking. As the Turkish economy consolidates its gains from this strategy and settles into a sustainable pattern of economic growth, however, the volume and pattern of private investment becomes central to long-term success.
Thanks to Michael Salemi, the editors and participants at the Harvard University conference on ‘The Political Economy of Turkey in the 1980s’, April 1988.
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© 1990 Tosun Arıcanlı and Dani Rodrik
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Conway, P. (1990). The Record on Private Investment in Turkey. In: The Political Economy of Turkey. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-11274-6_5
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DOI: https://doi.org/10.1007/978-1-349-11274-6_5
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