International Congress on Eurasian Economies
26-28 June 2024 – Bishkek, KYRGYZSTAN
Paper properties
Paper ID : 2916
Status : Paper accepted
Language : English
Topic : Macroeconomics
Presenter: Prof. Dr. Özlen Hiç
Session : 2A Macroeconomics
An in-depth Analysis of Economic Policies Implemented in Turkey from 1923 to 2023
An in-depth Analysis of Economic Policies Implemented in Turkey from 1923 to 2023
- Prof. Dr. Özlen Hiç (İstanbul University, Türkiye)
- Prof. Dr. Ayşen Hiç Gencer (Istanbul Beykent University, Türkiye)
- Prof. Dr. Süreyya Hiç (Kocaeli University, Türkiye)
Abstract
This study provides an in-depth analysis of Turkey's economic policies throughout key historical periods; from the Atatürk era to the challenges posed by the 2019 Covid pandemic, up until 2024. The analysis unfolds with a focus on the Atatürk era economic policies, followed by an exploration of the economic conditions during the period 1939-1950. Transition attempts towards a market economy during 1947-1979 are scrutinized, highlighting the notable 1958 devaluation and the subsequent policy experiments in the 1950-1960 era. The planned economy period from 1963-1974 is examined, leading into the tumultuous period of 1975-1979 marked by a significant crisis. The transformative January 24, 1980 decisions are outlined, including the repercussions of the April 5, 1994 decisions. The measures taken against the 1997 global crisis, such as the Stand-By Agreement, are elucidated along with their objectives, policies, and results. The study also delves into the economic conditions of the period 2000-2008, addressing the crises of November 2000 and February 2001, followed by the post-crisis measures under the 2002 Emergency Action Plan. The economic policies from the 2008 crisis to the 2019 Covid pandemic are discussed, including the 2018 economic crisis and reform efforts. This comprehensive analysis aims to provide insights into the evolving nature of Turkey's economic policies and their consequences over the years.
JEL codes: B20, N00, G01
