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dc.contributor.authorYeldan, E. A.en_US
dc.contributor.authorÜnüvar, B.en_US
dc.date.accessioned2019-01-23T12:54:02Z
dc.date.available2019-01-23T12:54:02Zen_US
dc.date.issued2016en_US
dc.identifier.issn2376-0818
dc.identifier.urihttp://hdl.handle.net/11693/48270en_US
dc.description.abstractThis paper studies the performance of the Turkish economy under the reign of the Justice and Development Party (Adalet ve Kalkınma Partisi, AKP). Most of this period coincides with abundant global capital especially in the aftermath of the Great Recession. We argue that AKP’s economy policies were shaped with the goal of attracting foreign capital to the country, creating a debt ridden speculative growth model and turning a blind eye to the mandate of solving the country’s fundamental problems. Within this model, monetary policy has been the leading actor. Although the Central Bank has been operating with a price stability mandate during this period, inflation targeting performance has been poor, creating doubts about the leading motive behind the reaction function. Fiscal policy became a dependent variable, shadowed by the capital chasing monetary policy. As global liquidity started to become more risk averse in the post-tapering era and as accumulated domestic problems of the country became thicker, Turkey’s growth model proved to be unsustainable, intensifying external fragility for the period ahead.en_US
dc.language.isoEnglishen_US
dc.source.titleResearch and Policy on Turkeyen_US
dc.relation.isversionofhttps://doi.org/10.1080/23760818.2015.1099779en_US
dc.subjectTurkey under the AKPen_US
dc.subjectGreat recessionen_US
dc.subjectSpeculative growthen_US
dc.subjectExternal fragilityen_US
dc.titleAn Assessment of the Turkish Economy in the AKP Eraen_US
dc.typeArticleen_US
dc.departmentDepartment of Economicsen_US
dc.citation.spage11en_US
dc.citation.epage28en_US
dc.citation.volumeNumber1en_US
dc.citation.issueNumber1en_US
dc.identifier.doi10.1080/23760818.2015.1099779en_US
dc.publisherRoutledgeen_US
dc.identifier.eissn2376-0826


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