The End of Boom and the Political Economy of Turkey’s crisis

Cem Oyvat

No 21403, Greenwich Papers in Political Economy from University of Greenwich, Greenwich Political Economy Research Centre

Abstract: Turkey has long been enjoying high growth rates with the support of speculative financial flows and a boom in the construction industry. However, the Turkish economy at the same time was step-by-step becoming more fragile during the recent years. The diplomatic crisis between the US and Turkey gave a push to the economic downturn in Turkey that was already coming. Indeed, the Turkish Lira already depreciated by more than 20% against USD in 2018 before the diplomatic tension peaked. The depreciation in the Turkish Lira against USD for 2018 was 43% at the date that this article was written.

Keywords: Turkey; boom-bust cycles; crisis; inequality (search for similar items in EconPapers)
Date: 2018-09-06
New Economics Papers: this item is included in nep-ara
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Citations: View citations in EconPapers (2)

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