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Based on its outward-oriented development strategy, respectable growth, increased integration into world trade and financial markets, and imperfect though vibrant and wide-based democracy, Turkey is often cited as a development model for other countries in the region and elsewhere. Countering this positive picture of the Turkish economy over the last two decades, however, is the incompleteness of its reform process: the boom-bust nature of its growth, persistently high inflation, delays in privatising state-owned enterprises, and high and persistent government budget deficits. In January 2000 Turkey embarked on an ambitious IMF-backed stabilization program designed to correct the weaknesses in its economy, and, in particular, to reduce inflation to single digits by the end of 2002. Since then, though, Turkey has experienced two financial crises and redesigned its stabilization program to bring inflation down more gradually. This collection analyzes the nature of Turkey's inflation and the likely costs and benefits of disinflation.
"This is a long overdue book on Turkey's unhappy experience with macroeconomic policy during the last two decades, which culminated in a devastating crash in 2001. To their credit, the authors refuse to resort to simple-minded explanations. Loose fiscal policy, inadequate structural reform, poor oversight of the financial system and ill-advised IMF policies all play a role in the story. But the main theme running through the authors' sophisticated analyses is the complexity of an economy caught between an immature political system and even more fickle financial markets." Dani Rodrik (Harvard University)
"Turkey over the last two decades provides a cautionary tale on the perils of inflationary and disinflationary policy. The authors have employed the tools of time series econometrics to explore the implications of Turkish macroeconomic and financial-sector experience, and have assembled an analysis of the Turkish dilemma that will be of great use to developing-country policy-makers everywhere." Patrick Conway (University of North Carolina at Chapel Hill)
"This timely volume brings together expert views on the sources of decades long chronic inflation in Turkey and implications of the disinflation. Its coverage provides lessons for other high inflation economies. This unique volume is an excellent reference for academics and specialists." Ramazan Gençay (University of Windsor)
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Subjects
Inflation (Finance), Economic conditions, Economic history, Monetary economics, 21st century, c 1990 to c 2000, Business & Economics, Business/Economics, International - Economics, 1960-, Turkey, Turkey, economic policy, Turkey, economic conditions, Deflation (Finance), Economic policyPlaces
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1
Inflation and Disinflation in Turkey
2018, Taylor & Francis Group
in English
1351739263 9781351739269
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2
Inflation and Disinflation in Turkey
2018, Taylor & Francis Group
in English
1315187167 9781315187167
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3
Inflation and Disinflation in Turkey
2018, Taylor & Francis Group
in English
135173928X 9781351739283
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4
Inflation and Disinflation in Turkey
2018, Taylor & Francis Group
in English
1351739271 9781351739276
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5
Inflation and Disinflation in Turkey
2017, Taylor & Francis Group
in English
1138732923 9781138732926
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6 |
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7
Inflation and Disinflation in Turkey
December 2002, Ashgate Pub Ltd
Hardcover
in English
075463065X 9780754630654
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July 31, 2019 | Edited by MARC Bot | associate edition with work OL15166854W |
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