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[경제학] High-Quality Versus Low-Quality Growth in Turkey - Causes and Consequences

터키 국외연구자료 연구보고서 - CEPR 발간일 : 2019-10-15 등록일 : 2020-05-30 원문링크

Turkey's economy has made important strides in the 17 years since the financial crisis of 2001, averaging an annual growth rate of about 5.7%. But the quality of this growth has been poor, especially since 2007, with little-to-no productivity growth, limited technological upgrading, substantial (mis)allocation of resources to the construction sector and a huge surge in credit. This growth has also been generally unequal. This low-quality, unequal growth has been in the context of worsening economic institutions, underpinned by deteriorating political institutions. This paper attempts to understand the causes and consequences of low-quality growth in Turkey, briefly interrupted by a period of higher-quality growth between 2002 and 2006. The main thesis of our paper is that the lack of high-quality, shared growth in Turkey is rooted in the nature and evolution of its economic institutions, which are themselves closely linked to the country's political institutions. The short episode of high-quality and more equally shared growth came as a result of institutional improvements, but duly disappeared as these institutional gains were reversed.

국내/국외, 유형, 출처, 원문링크, 첨부파일, 키워드 정보 제공
국내/국외 국외연구자료 유형 연구보고서
출처 CEPR
원문링크1 https://bit.ly/3emD7S2
첨부파일 -
키워드

#economy #Turkey #financial crisis #annual growth rate

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