Productivity and growth in an unstable emerging market economy: the case of Turkey, 1960-2004

dc.citation.epage18en_US
dc.citation.issueNumber5en_US
dc.citation.spage4en_US
dc.citation.volumeNumber45en_US
dc.contributor.authorIsmihan, M.en_US
dc.contributor.authorOzcan, K. M.en_US
dc.date.accessioned2016-02-08T10:02:43Z
dc.date.available2016-02-08T10:02:43Z
dc.date.issued2009en_US
dc.departmentDepartment of Economicsen_US
dc.description.abstractThis paper explores sources of growth in the Turkish economy by performing growth accounting exercises over the 1960-2004 period and relevant subperiods. It also analyzes the role of a number of important policy-related factors, such as infrastructure investment, macroeconomic instability, and imports, on total factor productivity (TFP) by performing cointegration and impulse response analyses. The results suggest that both TFP and capital accumulation were crucial sources of growth during the sample period. Nevertheless, TFP growth displayed enormous variation from 1960 to 2004. The descriptive and empirical evidence suggests that TFP is positively affected by imports and public infrastructure investment and negatively affected by macroeconomic instability. Copyright © 2009 M.E. Sharpe, Inc. All rights reserved.en_US
dc.identifier.doi10.2753/REE1540-496X450501en_US
dc.identifier.eissn1558-0938
dc.identifier.issn1540-496X
dc.identifier.urihttp://hdl.handle.net/11693/22637
dc.language.isoEnglishen_US
dc.publisherRoutledgeen_US
dc.relation.isversionofhttps://doi.org/10.2753/REE1540-496X450501en_US
dc.source.titleEmerging Markets Finance and Tradeen_US
dc.subjectCapital accumulationen_US
dc.subjectCointegrationen_US
dc.subjectEconomic growthen_US
dc.subjectGrowth accountingen_US
dc.subjectImpulse response analysisen_US
dc.subjectMacroeconomic instabilityen_US
dc.subjectTotal factor productivityen_US
dc.titleProductivity and growth in an unstable emerging market economy: the case of Turkey, 1960-2004en_US
dc.typeArticleen_US
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