2023-09-28 14:46:10 +00:00
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abstract: 'After the 2001 crisis, Turkey continued to pursue the radical
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market-oriented reform strategy that had started in the early 1980s and
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followed the philosophy of the Washington Consensus. Gross domestic
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product (GDP) growth in the post-2001 period was relatively high, but it
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was a `jobless{''''} growth caused by substantial productivity increases
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generated largely by intensifying the work process rather than by
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technological advancements. Economic growth in the post-2001 period
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benefited society very unequally. The growth regime of Turkey is
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vulnerable owing to high current account deficit; high currency
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mismatch, particularly in the corporate sector; high income inequality;
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high unemployment; and an unsatisfactory development of the industrial
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sector, despite some successes. We recommend a new development regime
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with selective capital controls, a balanced current account, an active
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industrial policy by the government, stronger trade unions and
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employers'' associations engaged in social dialogue combined with
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coordinated wage bargaining on the sectoral level, and last but not
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least, redistributive policies aiming to achieve a more equal income
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distribution.'
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affiliation: 'Herr, H (Corresponding Author), Berlin Sch Econ \& Law, Berlin, Germany.
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Herr, Hansjoerg; Sonat, Zeynep M., Berlin Sch Econ \& Law, Berlin, Germany.
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Sonat, Zeynep M., Free Univ Berlin, Berlin, Germany.'
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author: Herr, Hansjoerg and Sonat, Zeynep M.
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author-email: 'hansherr@hwr-berlin.de
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zeynep-sonat@gmail.com'
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author_list:
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- family: Herr
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given: Hansjoerg
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- family: Sonat
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given: Zeynep M.
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da: '2023-09-28'
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eissn: 1305-3299
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files: []
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issn: 0896-6346
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journal: NEW PERSPECTIVES ON TURKEY
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keywords: 'Turkey; growth regime; monetary policy; international capital flows;
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financial system'
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keywords-plus: 'EXCHANGE-RATE REGIMES; MARKET; GLOBALIZATION; DETERMINANTS; EXPERIENCE;
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ECONOMY; POLICY'
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language: English
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month: FAL
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number: '51'
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number-of-cited-references: '98'
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pages: 35-68
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papis_id: 47355124da2328993f3bd037afac1d93
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ref: Herr2014fragilegrowth
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times-cited: '1'
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title: The fragile growth regime of Turkey in the post-2001 period
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2023-10-01 08:15:07 +00:00
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type: article
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2023-09-28 14:46:10 +00:00
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unique-id: WOS:000346327100002
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usage-count-last-180-days: '1'
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usage-count-since-2013: '12'
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web-of-science-categories: Social Sciences, Interdisciplinary
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year: '2014'
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