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The End of Boom and the Political Economy of Turkey’s crisis

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  • Oyvat, Cem

Abstract

Turkey has long been enjoying high growth rates with the support of speculative financial flows and a boom in the construction industry. However, the Turkish economy at the same time was step-by-step becoming more fragile during the recent years. The diplomatic crisis between the US and Turkey gave a push to the economic downturn in Turkey that was already coming. Indeed, the Turkish Lira already depreciated by more than 20% against USD in 2018 before the diplomatic tension peaked. The depreciation in the Turkish Lira against USD for 2018 was 43% at the date that this article was written.

Suggested Citation

  • Oyvat, Cem, 2018. "The End of Boom and the Political Economy of Turkey’s crisis," Greenwich Papers in Political Economy 21403, University of Greenwich, Greenwich Political Economy Research Centre.
    • Handle: RePEc:gpe:wpaper:21403
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    File URL: http://gala.gre.ac.uk/id/eprint/21403/13/21403%20OYVAT_The_End_of_Boom_and_the_Political_Economy%20of_Turkey%E2%80%99s_Crisis_2018.pdf
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    Cited by:

    1. Hadi, Dlawar Mahdi & Karim, Sitara & Naeem, Muhammad Abubakr & Lucey, Brian M., 2023. "Turkish Lira crisis and its impact on sector returns," Finance Research Letters, Elsevier, vol. 52(C).
    2. Yagci, Alper & Oyvat, Cem, 2018. "Economic Voting and Media Influence in a Competitive Authoritarian Setting: Evidence from Turkey," Greenwich Papers in Political Economy 23687, University of Greenwich, Greenwich Political Economy Research Centre.

    More about this item

    Keywords

    Turkey; boom-bust cycles; crisis; inequality;
    All these keywords.

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