IDEAS home Printed from https://ideas.repec.org/p/oec/ecoaaa/528-en.html
   My bibliography  Save this paper

Policies to Improve Turkey's Resilience to Financial Market Shocks

Author

Listed:
  • Anne-Marie Brook

Abstract

Since the crisis of 2001, an impressive package of fiscal consolidation and institutional reform has created a strong foundation for economic growth. As a result, GDP growth has been strong and stable, inflation has fallen, and the public debt burden has been significantly reduced. Yet the current account deficit is large, exchange rate movements have been volatile, and the recent increase in inflation and rising levels of private sector external debt draw attention to Turkey?s vulnerabilities and to the need for additional policies to contain risks. This paper summarises the vulnerabilities of the Turkish economy and the steps that can be taken to improve macroeconomic resilience to shocks. This Working Paper relates to the 2006 Economic Survey of Turkey (www.oecd.org/eco/surveys/turkey). Les politiques pour renforcer la résilience de la Turquie aux chocs émanant des marchés financiers Depuis la crise de 2001, un remarquable programme d'assainissement économique et de réforme institutionnelle a créé de robustes fondations pour la croissance économique. En conséquence, l'expansion du PIB a été forte et stable, l'inflation a décru et le fardeau de la dette publique a été nettement allégé. Cependant, le déficit de la balance courante est élevé, les fluctuations du taux de change sont irrégulières et l'accélération récente de l'inflation comme la montée de l'endettement attirent l'attention sur les points vulnérables de la Turquie et sur la nécessité de prendre de nouvelles initiatives pour contenir les risques. Ce document recense les points vulnérables de l'économie turque et présente les mesures susceptibles d'améliorer la résilience macroéconomique aux chocs. Ce Document de travail se rapporte à l’Étude économique de la Turquie 2006 (www.oecd.org/eco/etudes/turquie)

Suggested Citation

  • Anne-Marie Brook, 2006. "Policies to Improve Turkey's Resilience to Financial Market Shocks," OECD Economics Department Working Papers 528, OECD Publishing.
  • Handle: RePEc:oec:ecoaaa:528-en
    DOI: 10.1787/365034647173
    as

    Download full text from publisher

    File URL: https://doi.org/10.1787/365034647173
    Download Restriction: no

    File URL: https://libkey.io/10.1787/365034647173?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mihai Macovei, 2009. "Growth and economic crises in Turkey: leaving behind a turbulent past?," European Economy - Economic Papers 2008 - 2015 386, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.

    More about this item

    Keywords

    debt sustainability; durabilité de dette; fiscal policy; monetary policy; politique fiscale; politique monétaire; resilience; shocks; Turkey; échanges sud-sud;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oec:ecoaaa:528-en. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/edoecfr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.