This study takes as its task the explanation of movements in the rate of inflation. It seeks to discover the dynamic process by which monetary expansion and changes in the rate of interest have their effects upon the level ...

All present-day industrial and developing countries have, at one time or another, protected their manufacturing industries. Turkey is no exception. It has protected import-substituting industries over exports and industry ...

After pursuing inward-oriented development strategies for 50 years, Turkey switched to outward-oriented policies in 1980. The policy of ‘opening up’ was pursued with the aim of integration into the European Union (EU). At ...

The dominant theme in development economics in recent years is the liberalization programmes undertaken by a number of developing countries, either unilaterally or as a part of the World Bank structural adjustment lending ...

Since 1990 major changes have affected the future of the European Union (EU). At that time the future of the EU seemed set: a gradual deepening towards economic and monetary union. The collapse of communism radically shifted ...

Rapid, sustained economic growth is one of the main objectives of Turkish policymakers. Because total factor productivity plays a big role in growth, policies that increase education levels, achieve more equitable distribution ...

Turkey has one of the largest economies in the Middle East. It also has a border with the European Union (EU) which is its main trading partner. As Table 10.1 shows, the EU accounted for more than half of Turkish exports ...

According to Dollar and Wolff (1993) labor productivity indicates the extent to which a country can be a competitive low-cost producer while maintaining high wages. Total factor productivity (TFP), on the other hand, ...