SHORT-TERM STABILIZATION POLICIES IN A DEVELOPING ECONOMY: THE TURKISH EXPERIENCE IN 1980 IN LONG-TERM PERSPECTIVE

Date

1981

Author

Şenses, Fikret

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This paper attempts to provide an overview of the main response of the economy to the 1980 Stabilization Programme shortly after its inception. The nature of the policies comprising the Programme is assessed against the background of the traditional development strategy and attempts at stabilization immediately before the current Programme. It is argued that despite its initial success in appreciably reducing the rate of inflation, the Programme cannot be relied on to take Turkey out of its current difficulties not only because it is likely to aggravate the recessionary trends of the past few years, but also because it would lead to a further divergence from long-term economic policy objectives. A radical reassessment of domestic economic polices, including the system of protection, within a rèvived planning framework is advocated for the economy to attain self-sustained growth through outward-orientation.

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https://hdl.handle.net/11511/111353

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Department of Economics, Article