Occasional Papers

Turkey at the Crossroads: From Crisis Resolution to EU Accession

Author/Editor:

Donal McGettigan ; Xavier Debrun ; Mark E Griffiths ; Reza Moghadam ; Ernesto Ramirez Rigo ; Martin Schindler ; Mats A Josefsson ; Cheng Hoon Lim ; Christian Keller ; Christoph A Klingen ; Chris Lane ; Oya Celasun ; Ashoka Mody ; Dewitt D Marston ; Mathew A. Verghis

Publication Date:

September 19, 2005

Electronic Access:

Link to Abstract

Summary:

The key policy challenge for Turkey in the years ahead will be to enhance and consolidate the advances made since the nation’s 2000-01 economic crisis. Higher growth could reduce unemployment and raise living standards toward European Union levels. This paper reviews Turkey’s policy performance in terms of growth, inflation, debt, fiscal and financial sector reform, and labor markets. The analysis assesses the effectiveness of macroeconomic stabilization and structural reforms since the crisis and provides guideposts for future policy.

Series:

Occasional Paper No. 2005/006

Subject:

Banking Currencies Financial statements Fiscal consolidation Fiscal policy Inflation Money Prices Public debt Public financial management (PFM)