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

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

Oyvat, Cem ORCID: 0000-0002-5097-0246 (2018) The End of Boom and the Political Economy of Turkey’s crisis. [Working Paper]

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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.

Item Type: Working Paper
Uncontrolled Keywords: Turkey, boom-bust cycles, crisis, inequality
Subjects: H Social Sciences > HB Economic Theory
Faculty / Department / Research Group: Faculty of Business
Faculty of Business > Department of International Business & Economics
Faculty of Business > Institute of Political Economy, Governance, Finance and Accountability (IPEGFA) > Greenwich Political Economy Research Centre (GPERC)
Last Modified: 04 Aug 2021 16:33
Selected for GREAT 2016: None
Selected for GREAT 2017: None
Selected for GREAT 2018: None
Selected for GREAT 2019: None
Selected for REF2021: None
URI: http://gala.gre.ac.uk/id/eprint/21403

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