Turkey - Country Economic Memorandum : Structural Reforms for Sustainable Growth, Volume 2. Statistical Annex
This country economic memorandum shows that fiscal imbalances are key to understanding Turkey's inflation problem, and its volatile growth. Its findings suggest that the country's inability to sustain high growth can be closely linked, am...
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| Language: | English en_US |
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Washington, DC
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2000/09/692905/turkey-country-economic-memorandum-structural-reforms-sustainable-growth-vol-2-2-statistical-annex http://hdl.handle.net/10986/14995 |
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okr-10986-149952021-04-23T14:03:16Z Turkey - Country Economic Memorandum : Structural Reforms for Sustainable Growth, Volume 2. Statistical Annex World Bank AGRICULTURE BALANCE OF PAYMENTS BALANCE SHEET BANK SERVICE CHARGES BORROWING CAPITAL FORMATION CENTRAL BANK CONSUMER PRICE INDEX CPI CURRENT PRICES DEBT DEFLATORS DEPOSIT INSURANCE DISPOSABLE INCOME DOMESTIC BORROWING ELECTRICITY ELECTRICITY GENERATION EXCHANGE RATE FINANCIAL INSTITUTIONS FISCAL YEAR FISHERIES FORESTRY GDP GNP GOVERNMENT BONDS GROSS NATIONAL PRODUCT GROWTH RATE INCOME INSURANCE INTEREST RATES INTERNATIONAL RESERVES MARKET PRICES MONETARY AGGREGATES PRIVATE CONSUMPTION PRIVATIZATION PRODUCTIVITY PUBLIC INVESTMENT PUBLIC SAVINGS PUBLIC SECTOR PUBLIC SECTOR BORROWING SAVINGS SAVINGS RATIO STATE OWNED ENTERPRISES SUSTAINABLE GROWTH T-BILLS TAX TELECOMMUNICATIONS TOTAL FACTOR PRODUCTIVITY TRANSPORT TREASURY VALUE ADDED WHOLESALE PRICE INDEX WORLD TRADE ORGANIZATION WTO MACROECONOMIC STABILIZATION ECONOMIC GROWTH PUBLIC SECTOR DEFICIT FISCAL SUSTAINABILITY ECONOMIC RECOVERY SOCIAL SECURITY REFORM POLICY SOCIAL ACTION PROGRAMS INFRASTRUCTURE DEVELOPMENT RURAL DEVELOPMENT AGRICULTURE SECTOR ADJUSTMENT BANKING FISCAL ADJUSTMENTS MONETARY ANALYSIS ECONOMIC CRISIS STRUCTURAL ADJUSTMENT PRODUCTIVITY GROWTH CONTINGENCY PLANS DEREGULATION FINANCIAL SECTOR REFORM INFLATIONARY PRESSURES This country economic memorandum shows that fiscal imbalances are key to understanding Turkey's inflation problem, and its volatile growth. Its findings suggest that the country's inability to sustain high growth can be closely linked, among many factors, to the lack of macroeconomic stability. Unsustainable fiscal policy, has put repeated pressure on its currency, and led to chronic, and high inflation. Thus, when facing crises, fiscal policy has been unable to withstand, or influence on the business cycle; instead contractionary policies have been implemented to achieve monetary stability, actually worsening the real impact of shocks. It is also suggested that previous attempts at stabilization, failed precisely because they did not address the structural sources of fiscal deficit. Following an analysis on Turkey's macroeconomic framework, the report reviews the reform agenda on the infrastructure, agriculture, and banking sectors, and the country's medium-term prospects, but emphasizes the influence of the policy environment on total factor productivity growth, as a key explanatory factor, recommending structural policies to generate at least a primary surplus of three percent of GNP, prioritize social security, and social assistance, and avoid unsustainable contingent liabilities, by deregulating energy and telecommunications sectors, and, pursue financial sector reform. 2013-08-12T15:23:54Z 2013-08-12T15:23:54Z 2000-09-15 http://documents.worldbank.org/curated/en/2000/09/692905/turkey-country-economic-memorandum-structural-reforms-sustainable-growth-vol-2-2-statistical-annex http://hdl.handle.net/10986/14995 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Europe and Central Asia Turkey |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
AGRICULTURE BALANCE OF PAYMENTS BALANCE SHEET BANK SERVICE CHARGES BORROWING CAPITAL FORMATION CENTRAL BANK CONSUMER PRICE INDEX CPI CURRENT PRICES DEBT DEFLATORS DEPOSIT INSURANCE DISPOSABLE INCOME DOMESTIC BORROWING ELECTRICITY ELECTRICITY GENERATION EXCHANGE RATE FINANCIAL INSTITUTIONS FISCAL YEAR FISHERIES FORESTRY GDP GNP GOVERNMENT BONDS GROSS NATIONAL PRODUCT GROWTH RATE INCOME INSURANCE INTEREST RATES INTERNATIONAL RESERVES MARKET PRICES MONETARY AGGREGATES PRIVATE CONSUMPTION PRIVATIZATION PRODUCTIVITY PUBLIC INVESTMENT PUBLIC SAVINGS PUBLIC SECTOR PUBLIC SECTOR BORROWING SAVINGS SAVINGS RATIO STATE OWNED ENTERPRISES SUSTAINABLE GROWTH T-BILLS TAX TELECOMMUNICATIONS TOTAL FACTOR PRODUCTIVITY TRANSPORT TREASURY VALUE ADDED WHOLESALE PRICE INDEX WORLD TRADE ORGANIZATION WTO MACROECONOMIC STABILIZATION ECONOMIC GROWTH PUBLIC SECTOR DEFICIT FISCAL SUSTAINABILITY ECONOMIC RECOVERY SOCIAL SECURITY REFORM POLICY SOCIAL ACTION PROGRAMS INFRASTRUCTURE DEVELOPMENT RURAL DEVELOPMENT AGRICULTURE SECTOR ADJUSTMENT BANKING FISCAL ADJUSTMENTS MONETARY ANALYSIS ECONOMIC CRISIS STRUCTURAL ADJUSTMENT PRODUCTIVITY GROWTH CONTINGENCY PLANS DEREGULATION FINANCIAL SECTOR REFORM INFLATIONARY PRESSURES |
| spellingShingle |
AGRICULTURE BALANCE OF PAYMENTS BALANCE SHEET BANK SERVICE CHARGES BORROWING CAPITAL FORMATION CENTRAL BANK CONSUMER PRICE INDEX CPI CURRENT PRICES DEBT DEFLATORS DEPOSIT INSURANCE DISPOSABLE INCOME DOMESTIC BORROWING ELECTRICITY ELECTRICITY GENERATION EXCHANGE RATE FINANCIAL INSTITUTIONS FISCAL YEAR FISHERIES FORESTRY GDP GNP GOVERNMENT BONDS GROSS NATIONAL PRODUCT GROWTH RATE INCOME INSURANCE INTEREST RATES INTERNATIONAL RESERVES MARKET PRICES MONETARY AGGREGATES PRIVATE CONSUMPTION PRIVATIZATION PRODUCTIVITY PUBLIC INVESTMENT PUBLIC SAVINGS PUBLIC SECTOR PUBLIC SECTOR BORROWING SAVINGS SAVINGS RATIO STATE OWNED ENTERPRISES SUSTAINABLE GROWTH T-BILLS TAX TELECOMMUNICATIONS TOTAL FACTOR PRODUCTIVITY TRANSPORT TREASURY VALUE ADDED WHOLESALE PRICE INDEX WORLD TRADE ORGANIZATION WTO MACROECONOMIC STABILIZATION ECONOMIC GROWTH PUBLIC SECTOR DEFICIT FISCAL SUSTAINABILITY ECONOMIC RECOVERY SOCIAL SECURITY REFORM POLICY SOCIAL ACTION PROGRAMS INFRASTRUCTURE DEVELOPMENT RURAL DEVELOPMENT AGRICULTURE SECTOR ADJUSTMENT BANKING FISCAL ADJUSTMENTS MONETARY ANALYSIS ECONOMIC CRISIS STRUCTURAL ADJUSTMENT PRODUCTIVITY GROWTH CONTINGENCY PLANS DEREGULATION FINANCIAL SECTOR REFORM INFLATIONARY PRESSURES World Bank Turkey - Country Economic Memorandum : Structural Reforms for Sustainable Growth, Volume 2. Statistical Annex |
| geographic_facet |
Europe and Central Asia Turkey |
| description |
This country economic memorandum shows
that fiscal imbalances are key to understanding
Turkey's inflation problem, and its volatile growth.
Its findings suggest that the country's inability to
sustain high growth can be closely linked, among many
factors, to the lack of macroeconomic stability.
Unsustainable fiscal policy, has put repeated pressure on
its currency, and led to chronic, and high inflation. Thus,
when facing crises, fiscal policy has been unable to
withstand, or influence on the business cycle; instead
contractionary policies have been implemented to achieve
monetary stability, actually worsening the real impact of
shocks. It is also suggested that previous attempts at
stabilization, failed precisely because they did not address
the structural sources of fiscal deficit. Following an
analysis on Turkey's macroeconomic framework, the
report reviews the reform agenda on the infrastructure,
agriculture, and banking sectors, and the country's
medium-term prospects, but emphasizes the influence of the
policy environment on total factor productivity growth, as a
key explanatory factor, recommending structural policies to
generate at least a primary surplus of three percent of GNP,
prioritize social security, and social assistance, and avoid
unsustainable contingent liabilities, by deregulating energy
and telecommunications sectors, and, pursue financial sector reform. |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Turkey - Country Economic Memorandum : Structural Reforms for Sustainable Growth, Volume 2. Statistical Annex |
| title_short |
Turkey - Country Economic Memorandum : Structural Reforms for Sustainable Growth, Volume 2. Statistical Annex |
| title_full |
Turkey - Country Economic Memorandum : Structural Reforms for Sustainable Growth, Volume 2. Statistical Annex |
| title_fullStr |
Turkey - Country Economic Memorandum : Structural Reforms for Sustainable Growth, Volume 2. Statistical Annex |
| title_full_unstemmed |
Turkey - Country Economic Memorandum : Structural Reforms for Sustainable Growth, Volume 2. Statistical Annex |
| title_sort |
turkey - country economic memorandum : structural reforms for sustainable growth, volume 2. statistical annex |
| publisher |
Washington, DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2000/09/692905/turkey-country-economic-memorandum-structural-reforms-sustainable-growth-vol-2-2-statistical-annex http://hdl.handle.net/10986/14995 |
| _version_ |
1764427817087401984 |