The Road to Sustainable Growth in Emerging Markets: The Role of Structural and Monetary Policies in Turkey

Ahmet Aysan, Mustafa Guler () and Cuneyt Orman ()

MPRA Paper from University Library of Munich, Germany

Abstract: The last decade witnessed an unprecedented economic growth in Emerging Market Economies (EMEs). EMEs have also been the main drivers of growth in the recovery following the global financial crisis. Nevertheless, EMEs continue to face a number of institutional and structural challenges that may pose risks to the sustainability of their recent growth performance, with potentially significant repercussions for the world economy. In this paper, we present a detailed account of Turkey’s experience in dealing with various institutional and structural challenges during the last decade and provide evidence that taking the right steps can enable EMEs materialize their full growth potential going forward. Successful institutional and structural reforms can also provide room for monetary policymakers to effectively navigate their economies through turbulent times such as the recent global financial crisis.

Keywords: Economic Growth; Structural and Institutional Reforms; Crises; Monetary Policy; Turkey; Central and Eastern Europe (search for similar items in EconPapers)
JEL-codes: E52 E63 F30 F43 N10 O10 (search for similar items in EconPapers)
Date: 2013-02-26
New Economics Papers: this item is included in nep-ara, nep-mac and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:44730

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