Recent developments in the Turkish economy
Date
2017
Authors
Togan, Sübidey
Gençkaya, Ö. F.
Editor(s)
Advisor
Supervisor
Co-Advisor
Co-Supervisor
Instructor
Source Title
Orient
Print ISSN
0030-5227
Electronic ISSN
Publisher
Deutsches Orient-Institut
Volume
58
Issue
3
Pages
7 - 14
Language
English
Type
Journal Title
Journal ISSN
Volume Title
Series
Abstract
During the past fifteen years of Justice and Development Party's (AKP) rule Turkey has experienced important gains in income and living standards. Over the period 2002-2016, the real per capita income has increased by 78.5%, and the transformation into an industrial and service economy has been ongoing, with agriculture still accounting for 7.9% of GDP and 20.7% of total employment. However, Turkey's catch-up with advanced economies has slowed since 2008, and progress has increasingly diverged from the historic record of the 2002-2007 period. Furthermore, political developments within Turkey and in the surrounding region started to have lasting influence on economic developments in Turkey.