Liberalization, Export Incentives and Exchange Rate Policy: Turkey’s Experience in the 1980s
The year 1980 marked the beginning of a new era in Turkey in terms of economic policies. On 24 January 1980, the Turkish Government announced a major economic reform programme. In addition to the inauguration of a stabilization programme backed by the International Monetary Fund, a multitude of accompanying policies, with a wide and varying impact on many sectors of the economy, were introduced. All these policies had components of earlier policy packages of 1958 and 1970. The main novelty of the policies of 24 January was, however, that in addition to the usual stabilization measures, the Government intended to liberalize the economy generally, and place greater reliance on market forces rather than state intervention.
KeywordsExchange Rate Foreign Exchange Real Exchange Rate Purchase Power Parity Exchange Rate Policy
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- Krueger, A. O. and Aktan, O. H. (1992), Swimming against the Tide: Turkish Trade Reform in the 1980s (San Francisco, CA: ICS Press).Google Scholar