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Productivity and Growth in an Unstable Emerging Market Economy: The Case of Turkey, 1960-2004

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  • Mustafa Ismihan
  • Kivilcim Metin-Ozcan

Abstract

This paper explores sources of growth in the Turkish economy by performing growth accounting exercises over the 1960-2004 period and relevant subperiods. It also analyzes the role of a number of important policy-related factors, such as infrastructure investment, macroeconomic instability, and imports, on total factor productivity (TFP) by performing cointegration and impulse response analyses. The results suggest that both TFP and capital accumulation were crucial sources of growth during the sample period. Nevertheless, TFP growth displayed enormous variation from 1960 to 2004. The descriptive and empirical evidence suggests that TFP is positively affected by imports and public infrastructure investment and negatively affected by macroeconomic instability.

Suggested Citation

  • Mustafa Ismihan & Kivilcim Metin-Ozcan, 2009. "Productivity and Growth in an Unstable Emerging Market Economy: The Case of Turkey, 1960-2004," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 45(5), pages 4-18, September.
    • Handle: RePEc:mes:emfitr:v:45:y:2009:i:5:p:4-18
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    Cited by:

    1. Üngör, Murat, 2014. "Some thought experiments on the changes in labor supply in Turkey," Economic Modelling, Elsevier, vol. 39(C), pages 265-272.
    2. Cem Özgüzel, 2023. "Agglomeration effects in a developing economy: evidence from Turkey," Journal of Economic Geography, Oxford University Press, vol. 23(4), pages 823-846.
    3. Turan, Güngör, 2017. "An Empirical Analysis on the Long-term Relation Between Unemployment and Higher Education in Turkey," MPRA Paper 77766, University Library of Munich, Germany.
    4. Aleksandra Parteka & Joanna Wolszczak-Derlacz, 2013. "The Impact of Trade Integration with the European Union on Productivity in a Posttransition Economy: The Case of Polish Manufacturing Sectors," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 49(2), pages 84-104, March.
    5. Georges, Patrick & Seçkin, Aylin, 2016. "From pro-natalist rhetoric to population policies in Turkey? An OLG general equilibrium analysis," Economic Modelling, Elsevier, vol. 56(C), pages 79-93.
    6. Nadide Yigiteli & Fahriye Ozturk, 2022. "Macroeconomic Determinants of Total Factor Productivity: An Analysis on the Example of OECD Countries," Istanbul Journal of Economics-Istanbul Iktisat Dergisi, Istanbul University, Faculty of Economics, vol. 72(72-1), pages 293-328, June.
    7. Murat Üngör, 2016. "Did the rising importance of services decelerate overall productivity improvement of Turkey during 2002–2007?," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 19(3), pages 238-261, July.
    8. Burcu Kuzören & Hamza Çeştepe & Hüseyin İçen, 2019. "The Effect of Institutions and Human Capital on Economic Growth: The Case of Turkey," EKOIST Journal of Econometrics and Statistics, Istanbul University, Faculty of Economics, vol. 30(0), pages 65-81, June.
    9. Attar, M. Aykut, 2013. "Growth and Demography in Turkey: Economic History vs. Pro-Natalist Rhetoric," MPRA Paper 47275, University Library of Munich, Germany.
    10. Murat Ungor, 2012. "A Production Function Method of Estimating the Output Gap," CBT Research Notes in Economics 1219, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    11. Phillip Akanni Olomola & Tolulope Temilola Osinubi, 2018. "Determinants of Total Factor Productivity in Mexico, Indonesia, Nigeria, and Turkey (1980–2014)," Emerging Economy Studies, International Management Institute, vol. 4(2), pages 192-217, November.

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