Frequency: Every 18 months
Electronic format: Acrobat PDF
This OECD review of 2004 of Turkey's economy examines its recent strong recovery and prospects for growth. It recommends policies designed to strengthen confidence with a view to extending the recovery. Separate chapters cover: improving the quality of public expenditure, establishing an open business environment, and aspects of sustainable development.
Table of contents:
Executive summary Assessment and recommendations 1. Achieving strong and sustainable growth -Turkey at a cross-roads -Prospects for growth -Policy challenges for achieving strong and sustainable growth -Linkages between the challenges -References 2. Macroeconomic policies: strengthening confidence and reducing risk premia -A post-crisis reform drive was launched -The export-led recovery has been broadening -The current account deficit has been widening -The strong output growth has been relatively job-poor -Stability and confidence are crucial for medium-term prospects -The credibility of monetary policy has strengthened -Debt sustainability depends on programme success -References 3. Improving the quality and cost-efficiency of public expenditure -Pressures and shortfalls in public expenditures -Shortcomings of traditional budget institutions -Introduction of reforms to improve public spending efficiency -Summary policy recommendations -References 4. Establishing an open and non-discriminatory business environment -Growth of the registered domestic business sector -Increasing foreign direct investment -Formalising the unregistered/informal enterprises -Downscaling the state-owned sector -Upgrading agriculture -Summary policy recommendations -References 5. Sustainable development -Some aspects of sustainable development -References