Publication: Global crisis, national responses: the political economy of Turkish exceptionalism
Program
KU-Authors
KU Authors
Co-Authors
N/A
Advisor
Publication Date
2011
Language
English
Type
Journal Article
Journal Title
Journal ISSN
Volume Title
Abstract
With its dilatory and piecemeal fiscal activism and uncharacteristic aversion to IMF assistance, the Turkish government's response to the global economic crisis of 2008-9 diverged considerably from prevalent trends in other major emerging market countries. Underlying this intriguing pattern were Turkey's pre-existing policy and macroeconomic constraints, cognitive lapses on the part of policymakers, and the conjunctural dynamics of domestic politics. the interplay of these factors progressively narrowed the policy space for vigorous action, leading to a motley combination of reactive initiatives that neither offered sufficient protection to vulnerable social groups nor promised sustainable growth in the long run despite rapid short-term recovery.
Description
Source:
New Political Economy
Publisher:
Routledge Journals, Taylor and Francis Ltd
Keywords:
Subject
Economics, International relation, Political science