outline is good Turkish-Economy

outline is good Turkish-Economy - Kibritçioğlu, November...

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Unformatted text preview: Kibritçioğlu, November 1-15, 2004, ( 1/79) An Overview of Macroeconomic An Overview of Macroeconomic Developments in Turkey Developments in Turkey with special reference to the with special reference to the AK-Party Era (2002-04) AK-Party Era (2002-04) Aykut Kibritçioğlu Aykut Kibritçioğlu Associate Professor of Economics Ankara University, Turkey Tel.: (+90-312) 319 77 20, ext. 340 Fax: (+90-312) 319 77 36 E-Mail: [email protected] Homepage: http://dialup.ankara.edu.tr/~kibritci/wiiw.html Vienna, 1-15 November 2004 Kibritçioğlu, November 1-15, 2004, ( 2/79) Outline of the Presentation Outline of the Presentation General Facts and Figures, 1970-2004 Political Climate, 1969-2004 Market for Goods: Inflation & Disinflation Market for Goods: Production & Productivity Labor Market: Employment & Real Wages Foreign Exchange Market: Exchange Rates, and Currency Substitution Balance of Payments and External Debts Public Sector: Deficits and Debts Financial Sector Statistical Sources Appendix: Selected Macroeconomic Indicators for Turkey (1970-2003) Kibritçioğlu, November 1-15, 2004, ( 3/79) General General Facts and Figures, 1970- Facts and Figures, 1970- 2004 2004 Kibritçioğlu, November 1-15, 2004, ( 4/79) The 1980-1989 Transformation The 1980-1989 Transformation 1978 - 1980: 1978 - 1980: Balance-of-payments crisis, productivity slowdown and accelerating inflation January 1980: January 1980: Announcement of a substantial stabilization and structural adjustment program in order to gradually liberalize the economy 1980 - 1982: 1980 - 1982: Domestic financial liberalization May 1981: May 1981: Abandonment of the fixed exchange-rate regime June 1984 June 1984 -- August 1989: August 1989: Capital account liberalization and convertibility of the Turkish lira Kibritçioğlu, November 1-15, 2004, ( 5/79) Post-1989 Macroeconomic Developments Post-1989 Macroeconomic Developments December 1993 - April 1994: December 1993 - April 1994: A major currency crisis and acceleration in the inflation August 1999: August 1999: Negative macroeconomic impacts of the Marmara earthquake December 1999: December 1999: Announcement of an exchange-rate- based stabilization program for 2000-2002 November 2000 & February 2001: November 2000 & February 2001: Two successive banking and currency crises and political instability in Turkey May 2001: May 2001: Announcement of the new economic program Kibritçioğlu, November 1-15, 2004, ( 6/79) Consumer Price Inflation (%) Real GDP Growth (%) Change in Nominal TL/US$ Exchange Rate (%) JP Morgan's Real Effective Exchange Rate (1990=100) Absolute Change in Central Bank's Gross Foreign...
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This note was uploaded on 02/13/2011 for the course ECONOMY 0132436892 taught by Professor Natalia during the Spring '10 term at Yeditepe Üniversitesi.

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outline is good Turkish-Economy - Kibritçioğlu, November...

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