Determinants of economic growth in Turkey

Abstract

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 of income, and secure high rates of investment are essential. In addition, prudent macroeconomic policies are needed to avoid balance of payments crises, eliminate industrial incentives that inhibit competition, and further lower nominal and effective rates of protection.