Turkey: Recent Economic Developments and Selected Issues

October 28, 1998

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Turkey: Recent Economic Developments and Selected Issues, (USA: International Monetary Fund, 1998) accessed November 27, 2024

Summary

This paper reviews economic developments in Turkey during 1994–97. Real wages increased rapidly during 1989–93, dropped sharply in 1994–95, and have since recovered modestly. Real wage flexibility stems in part from the absence of widespread wage indexation, despite chronic high inflation. Rapid gross national product (GNP) growth, averaging 7.7 percent a year during 1995–97, raised GNP per capita to above US$3,000 in 1997. Most of this dynamism originated from the industrial and trade sectors. Industry grew by 10.4 percent in 1997, led by a strong performance of private manufacturing (14.2 percent).

Subject: Balance of payments, Banking, Current account, Economic sectors, Foreign exchange, Inflation, Monetary base, Money, Prices, Public sector

Keywords: Central bank, CR, Current account, Demand Developments, E. exchange rate Developments, Eastern Europe, Exchange rate, Foreign exchange, Inflation, ISCR, Labor market Developments, Monetary base, Output Developments, Price Developments, Private sector, Public sector, Stock market Developments, Treasury bill, U.S. dollar

Publication Details

Pages:

206
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 1998/104
Stock No:

1TUREA0011998
ISBN:

9781451838008
ISSN:

1934-7685

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