The Turkey Economy : An Analysis Of Turkey's Economy

More specifically, import substituting industrialization became the most adopted economic development strategy in Turkey. However, there were some discontinuities between the state led import substituting industrialization in the 1930s and the adopted import substituting industrialization model during the 1960-1980 era. Although the economy policies after 1962 were placed in the planning basis with the development plans, these economic policies carried more different features than that of 1930s in terms of the distribution of the investments, the priorities of the sectors and the content of the industrialization. While the Muslim-Turkish bourgeoisie was weak to lead the economy in the 1930, the state took the responsibility of the industrialization, investing in the various sectors. On the hand other, the import substituting industrialization model during the 1960s and 1970s was led by the private

However, it is easy to do business in a politically stable country like Singapore. Singapore was one of the first few countries to recover from the recession. In fact, a recent survey has ranked Singapore as the world’s fourth most dynamic city post-recession. An important highlight of Singapore’s performance based on the report is that it did not experience a loss in employment during the recession, and had nearly fully recovered its income losses by 2010. This shows that Singapore is a strong economy and thus it is good to do business in Singapore.

region’s poor GDP growth, which was as low as 1.7% as of 2014. The issue at hand is further

its history of booms and busts [4], is currently in its worst economic standing since 1990s. The recent

The average growth peaked during 2003-2008, but most countries have been strongly impacted by the 2008 financial crisis, which led to prolonged period of recession. In Central and Eastern European countries, prior to downturn, large, relatively cheap capital inflows entered the economy, creating credit, consumption and real estate booms. During crisis, problems such as declining export performance, sizeable external liabilities, highly leveraged firms and quickly expanding general government debt, were further exacerbated by low growth and poor adjustment capacity. Growth rebounded on the account of increased trade with the Euro Area, inflow of European Union funds, low commodity prices and higher consumption. At the same time, low commodity prices, slowdown in China, international sanctions for Russia and political instability led to output contraction in the former Soviet Union countries (World Bank, Global Economic Prospects,

As the population began to boom and elite officials began to the feel the burden of overpopulated cities, Turkish officials reconsidered their stance on population growth, and began to sense that too rapid population growth could lead to a hindrance of economic wealth (Demirci 2008). A publication by Turkish economists known as The First Five Year Development Plan laid out these fears and emphasized the detrimental effect that they would have on the Turkish economy. The study led to suggestion of reforms that would lift the ban on contraception, and instead focus on teaching the public about the importance of family planning and the myriad of options that they had at their disposal, and suggested the import and sale

Economic system is a system of beliefs (concerning work, property and wealth), activities (extractions, production and distribution), organizations(business firms, labour unions), and relationships(ownership, management) that provide the goods and services consumed by the members of a society.(Cullen 2011, p.81) The economic system is unique in that Indonesia has a market-based economy in which the government plays a significant role. There are 141 state-owned enterprises, and the government administers prices on several basic goods, including fuel, rice, and electricity. Growth rebounded in 2010 to 6.1% and is forecast to have reached 6.2%-6.5% in 2011. Poverty and unemployment have also declined despite the global financial crisis, with the poverty rate falling to 12,5% (March 2011) from 13.3% a year earlier and the unemployment rate falling to 6.6% (February 2011) from 6.8% a year earlier. In December 2011, Fitch Ratings upgraded Indonesia’s sovereign debt rating to investment grade. . There are many potential infrastructure projects in multiple sectors including hydroelectric and solar power, palm oil, new roads including toll motorways, mining, expansion of broadband internet, and

One of the primary indicators used to judge the health of a country’s economy is the Gross Domestic Product (GDP). It is the total value of goods and services produced during a period of time. GDP was first developed by Simon Kuznets for a US Congress report in 1934. There are three ways of calculating GDP, the production approach, the income approach, and the expenditure approach, all of which should come up with the same basic results. GDP can be used to judge recession and recovery periods and how prosperous a country is. The author then discusses trends, statistics and forecasts for GDP.

Today, the world's most severe economic and social challenges of society karşıya.2008-09 economic crisis reduced potential output growth, rising unemployment and rising public debt has led. To recover, countries need to find new sources of growth and sustainable.

Indonesia today has rebuilt its financial stability and has tried to reorganize its fiscal policies since the global Asian monetary crisis. Even though the problems which rise from monetary crisis remain (such as unemployment), the condition of economic development in Indonesia is positively growing up. The total GDP (purchasing power equality) in Indonesia is $827, 4 billions (estimated in 2004) and the GPD per capita is $3,500. These numbers show a good progress sign for standard of developing countries.

Economical term ‘recession’ means a significant decrease in activity across the economy, which last longer than few months. This phenomenon is visible in employment, wholesale-retail trade, and others. The recession is considered a normal part of the business cycle. Nevertheless, a one-time crisis can trigger the onset of a recession. The global recession through 2007 to 2009 resulted in significant breakdowns to practically all the developed and developing countries. In order to prevent a future financial crisis, numerous government policies were enforced. A recession usually last 6 to 18 months and interest rate fall to stimulate the economy. During a recession, people tend not to spend, borrow, but to save money because of a fall in confidence. The government initiates an expansionary fiscal policy which involves increasing stimulus government spending and cutting taxes. However, the question is can increased stimulus spending help end the recession.

Indonesia is the sixteenth largest economy, the largest economy in the South-east Asian economic region with the world's fourth largest population (263 million in 2017). It is an emerging economy that has increased its international integration, trade liberalisation and diverted from policies of import substitution towards export-led development. Indonesia is a member of the Group of 20 (G20) major economies and has been an active founding member of the World Trade Organisation (WTO). The impact of globalisation has benefited Indonesia as quality of life indicators and economic developments have improved but it also presents the challenge of improving regulations, building more competitive industries, increasing investment into education and infrastructure to remain competitive. Consequently, Indonesia has introduced numerous strategies to promote economic growth and development.

Turkey is the 18th largest economy body in the world, the 6th largest economy entity in Europe, GDP with $786 billion, GNI per capita with $10, 970, which belong Upper middle income country (World Bank, 2013). Service industry contributed approximately 64.9% for GDP, the industrial sector just over a quarter, agriculture was about 8.2% (CIA, 2014). Moreover, Turkey has a sustainable and steady growth after structural reforms and macroeconomic stabilization since 2001, Turkish economy is becoming diversified and export-oriented due to the large inflow of FDI (ibid). GDP is expected to grow by about 5% over the next five years, single-digit inflation rate will continue to decline (Invest in Turkey, 2014: 24).

After the fall of the Ottoman empire, Turkey received an identity as Modern Turkey from Kemal Ataturk. With Turkey being home to over 45 different ethnic and religious groups, this makes it a diverse and unique nation, with demographics varying depending on the region This goes to show how unity is important in a diverse country like Turkey for its future success. All of these contribute to the cultural makeup of this country. Turkey’s current population is 78 million. According to a report, 70% of Turkey will reach working age by the year 2023. (United Nations 87 ). This goes to show that right now there is a very large young population in Turkey that is on the verge of joining the workforce. This will dramatically affect the economy in Turkey. As it relates to society, this has great cultural implications, because the next generation will make up the moral fabric of society.

In terms acceleration of economic growth is based on the measurement of GDP, MALAYSIA HAS recorded a growth of 5.1% last year. Although it is lower than 7.2% in 2010, but it was so roaring in the context of a difficult global economic environment and uncertainty. In contrast, global economic growth has dropped from 5.2% in 2010 to 3.8% in 2011 while the economy of the developed countries like USA, Germany, UK, France and Japan also recorded weak growth of respectively 1.5%, 2.7%, 1.1 %, 1.7% and -0.5% in the same year; far lower than Malaysia's achievements. Following a satisfactory GDP growth was assisted by the Federal government revenue increased by RM13.2 billion in 2011 through increased collection of IRB estimate of RM109.7 billion compared with RM96.5 billion the government has managed to reduce its fiscal deficit to 5.0% compared projection of 5.4%. This means that the GOVERNMENT has successfully steered the nation's economy as well as the control and management of public funds wisely in the past 3 years in a row when managed to bring down the fiscal deficit from 7.0% in 2009 to 5.6% (2010) and 5.0% in the past year in a expanding economy.