REASONS FOR OPTIMISM IN THE TURKISH ECONOMY

Date

1980

Author

ŞİŞİK, Ülkü

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Under the assumption of a closed economy, in the period of 1960-85, the equilibrium and stability conditions of the Turkish economy, are analysed by means of a differential equations model of three equations; changes in the rate of inflation, the rate of growth and inflation expectations. These equations are mainly based on the regression analyses of money demand, change in inflation, expectations augmented Phillips curve, the real growth effects of monetaiy shocks, and the changes in the economic growth depending on the difference between the realised and average growth rates. Parameter combinations indicate that during the above mentioned period, the Turkish economy may reach equilibrium which rather seems to be stable and of a monetarist type. Therefore in order to attain the inflation objective, the goverments have to follow a reconcilable monetaiy policy.

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https://hdl.handle.net/11511/111335

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Department of Business Administration, Article