Turkey - Country Economic Memorandum : Towards Macroeconomic Stability and Sustained Growth, Volume 1. Summary Report

This report addresses key questions facing Turkish policymakers: how to sustain the economic recovery that began in 2002 following the deep crisis of 2001, how to ensure disinflation and public debt sustainability, and how to foster broad-based and equitably distributed growth in the future. After a brief review of the 2001 crisis and the Government response, the report analyzes the economic opportunities and challenges facing Turkey, and identifies policies to build on the economic recovery which began in 2002. The CEM develops a comprehensive four-point agenda for sustainable and more equitably distributed growth. The agenda encompasses: (i) macroeconomic stability, (ii) effective government, (iii) improved business environment, and (iv) stronger social policies. The report closes with medium-term macroeconomic projections to illustrate Turkey's prospects under a scenario of sustained reform and to highlight the risks to growth and macroeconomic stability should the economic program go off track.

Bibliographic Details

Main Author:	World Bank
Format:	Country Economic Memorandum biblioteca
Language:	English en_US
Published:	Washington, DC 2003-07-28
Subjects:	ACCOUNTING, ADVERSE CONSEQUENCES, AGRICULTURE, BANK RESTRUCTURING, BANKING CRISES, BANKING SECTOR, BANKING SYSTEM, BENCHMARK, BUSINESS CYCLE, CAPITA GROWTH, CAPITA INCOME, CAPITAL ACCOUNT, CAPITAL ADEQUACY, CAPITAL FLOWS, CAPITAL INFLOWS, CAPITAL MOBILITY, CAPITAL OUTFLOWS, CENTRAL BANK, CHRONIC INFLATION, CIVIL SERVICE, COMPETITIVENESS, CONSUMER PRICE INDEX, CONTINGENT LIABILITIES, CPI, CURRENCY BOARD, CURRENCY CRISES, CURRENT ACCOUNT, CURRENT ACCOUNT DEFICIT, DEMOGRAPHICS, DEPOSITS, DEVALUATION, DISINFLATION, ECONOMIC ACTIVITY, ECONOMIC GROWTH, ECONOMIC PERFORMANCE, ECONOMIC REFORM, EMERGING ECONOMIES, EMERGING MARKET ECONOMIES, EMERGING MARKETS, EXCHANGE RATE, EXCHANGE RATE PEG, EXCHANGE RATE POLICY, EXCHANGE RATE REGIME, EXCHANGE RATE REGIMES, EXCHANGE RATE SYSTEMS, EXOGENOUS SHOCKS, EXPORT GROWTH, EXPORTS, EXTERNAL SHOCKS, FACTOR INCOME, FINANCIAL CRISIS, FINANCIAL MARKETS, FINANCIAL RESOURCES, FINANCIAL SECTOR, FINANCIAL SECTOR REFORM, FINANCIAL STABILITY, FINANCIAL SYSTEM, FISCAL ADJUSTMENT, FISCAL MEASURES, FISCAL POLICY, FISCAL SUSTAINABILITY, FIXED EXCHANGE RATE, FOREIGN EXCHANGE, GDP, GDP PER CAPITA, GNP, GOVERNMENT SECURITIES, GOVERNMENT SPENDING, GROSS DOMESTIC PRODUCT, GROWTH POTENTIAL, GROWTH RATE, HIGH INFLATION, HUMAN CAPITAL, HUMAN DEVELOPMENT, IMPORTS, INCOME GROUPS, INFLATION RATE, INFLATION RATES, INFLATION TARGETS, INTERNATIONAL INVESTORS, INVENTORY, LABOR FORCE, LABOR MARKET, LEGISLATION, LIQUIDITY, MACRO POLICIES, MACROECONOMIC CONDITIONS, MACROECONOMIC FRAMEWORK, MACROECONOMIC INSTABILITY, MACROECONOMIC STABILITY, MACROECONOMIC STABILIZATION, MARKET CONFIDENCE, MARKET ECONOMIES, MARKET LIBERALIZATION, NOMINAL ANCHOR, NOMINAL EXCHANGE RATE, OIL, OIL PRICES, OUTPUT GROWTH, PER CAPITA INCOME, POLICY CREDIBILITY, POVERTY REDUCTION, PRIMARY SURPLUS, PRIVATE BANKS, PRIVATE CONSUMPTION, PRIVATE INVESTMENT, PRIVATE SECTOR, PRIVATIZATION, PROFIT MARGINS, PUBLIC CONSUMPTION, PUBLIC DEBT, PUBLIC DEBT SUSTAINABILITY, PUBLIC GOVERNANCE, PUBLIC SECTOR, PUBLIC SERVICES, REAL EXCHANGE, REAL EXCHANGE RATE, REAL GDP, REAL GNP, REAL GROWTH, REAL INTEREST, REAL INTEREST RATE, REAL INTEREST RATES, REAL PROGRESS, REAL WAGES, REFORM AGENDA, RISK AVERSION, RISK FACTORS, RISK PREMIUM, SECTOR RESTRUCTURING, SOCIAL SECURITY, STATE BANKS, STRUCTURAL REFORMS, SUSTAINABLE GROWTH, SUSTAINED GROWTH, TAX REVENUES, TELECOMMUNICATIONS, TOTAL FACTOR PRODUCTIVITY, TROUGH, UNEMPLOYMENT, UNEMPLOYMENT RATE DISINFLATION, CRISIS MANAGEMENT, PUBLIC SECTOR MANAGEMENT, BUSINESS ENVIRONMENT, SOCIAL POLICY, DISASTER RECOVERY, FINANCIAL ADMINISTRATION, GOVERNANCE, FINANCIAL PERFORMANCE INDICATORS, CORPORATE RESTRUCTURING, REGULATORY REFORMS, SOCIAL CONTRACTS, HUMAN CAPITAL DEVELOPMENT, LABOR MARKETS, ECOMOMIC INTEGRATION, EXPORT PERFORMANCE, FOREIGN DIRECT INVESTMENTS, EXOGENOUS VARIABLES, EUROPEAN UNION MEMBERSHIP,
Online Access:	http://documents.worldbank.org/curated/en/2003/07/2487272/turkey-country-economic-memorandum-towards-macroeconomic-stability-sustained-growth-vol-1-3-summary-report http://hdl.handle.net/10986/14625
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