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Crises in Turkish Economy, Economic Fragility and Structural Reforms

Author

Listed:
  • Tunahan Yesilcicek

    (Usak University)

  • Mustafa Karabacak

    (Usak University)

Abstract

Today, globalization has gained a different dimension, and with the increase of financial liberalization, internal economic turmoil has become to affect all economies regardless of geographical boundaries. This situation causes economies to remain vulnerable to external shocks and to be dragged into crises. The fact that economies were dragged into crisis due to internal and external shocks and could not recover in a short time brought the concept of fragility to the agenda. This study highlights the relationship between the crisis and the fragility, examines the Turkish economy's crisis and its fragile structure that led to the crisis, then assesses the structural reforms needed to improve its resilience.

Suggested Citation

  • Tunahan Yesilcicek & Mustafa Karabacak, 2020. "Crises in Turkish Economy, Economic Fragility and Structural Reforms," Economics Literature, WERI-World Economic Research Institute, vol. 2(2), pages 122-145, December.
  • Handle: RePEc:ana:elitjr:v:2:y:2020:i:2:p:122-145
    DOI: 10.22440/elit.2.2.2
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    More about this item

    Keywords

    Economic Fragility; The Fragile Five; Economic Crises; Structural Reforms;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • G01 - Financial Economics - - General - - - Financial Crises
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation

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