The Economy of Turkey since Liberalization
Many developing countries have embarked on liberalisation programmes in recent years. One such programme which has attracted wide attention and posed a number of analytical issues is that undertaken by Turkey during the 1980s. The nine essays in this volu
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Also by S. Togan
FOREIGN TRADE REGIME AND TRADE LIBERALIZATION IN TURKEY DURING THE 1980s Also by V. N. Balasubramanyam
ECONOMY OF INDIA INTERNATIONAL INVESTMENT (edited with David Sapsford)
The Economy of Thrkey since Liberalization Edited by
s. Togan Professor of Economics Hilkent University, Ankara
and
V. N. Balasubramanyam Professor of Development Economics Lancaster University
First published in Great Britain 1996 by
MACMILLAN PRESS LTD Houndmills, Basingstoke, Hampshire RG21 6XS and London Companies and representatives throughout the world A catalogue record for this book is available from the British Library. ISBN 978-1-349-24466-9 ISBN 978-1-349-24464-5 (eBook) DOI 10.1007/978-1-349-24464-5
First published in the United States of America 1996 by
ST. MARTIN'S PRESS, INC., Scholarly and Reference Division, 175 Fifth A venue, New York, N.Y. 10010 ISBN 978-0-312-12694-0
Library of Congress Cataloging-in-Publication Data The economy of Turkey since liberalization I edited by S. Togan and V. N. Balasubramanyam. p. em. Includes bibliographical references and index. ISBN 978-0-312-12694-0
I. Turkey-Commercial policy--Congresses. 2. Turkey-Foreign economic relations--Congresses. 3. Turkey-Economic policy-Congresses. 4. Turkey-Economic conditions-1960-- -Congresses. I. Togan, Siibidey. II. Balasubramanyam, V. N. HFI583.4.E28 1996 330.9561---dc20 95-5640 CIP © S. Togan and V. N. Balasubramanyam 1996 Softcover reprint of the hardcover I st edition 1996 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, 90 Tottenham Court Road, London WIP9HE. Any person who does any unauthorised act in relation to this publication may be liable to criminal prosecution and civil claims for damages. 10 05
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Contents ~~~~
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List of Tables
viii ri
P~u
Acknowledgements
xii
Participants in the Conference and Contributors to the Volume
xiii
1 2
3
4
5
Introduction S. Togan and V. N. Balasubramanyam
1
Trade Liberalization and Competitive Structure in Turkey during the 1980s Subidey Togan
5
Trade Reform and Changes in the Terms of Trade in Turkey David Greenaway and David Sapsford
52
Financial Reform in Turkey since 1980: Liberalization without Stabilization P. N. Snowden
67
Foreign Aid and Adjustment in Turkey Oliver Morrissey
88
6
Foreign Direct Investment in Turkey V. N. Balasubramanyam
112
7
Turkey and the European Community: Regional Integration and Economic Convergence Robert C. Hine
131
Export Expansion, Capital Accumulation and Distribution in Turkish Manufacturing, 1980-9 Fatma Taskin and A. Erinc Yeldan
155
8
v
Contents
vi 9
Liberalization. Export Incentives and Exchange R
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