This paper investigates the role of the deterioration of the Turkish publicsector balances in the latter half of the 1980's and the evolution of theeconomic crisis with the aid of a computable general equilibrium model. Thetheoretical basis of the model utilized in the paper rests upon the...

The Asian financial crisis had a profound impact on the global economy. Growth is expected to be slower; risks are higher; and the international flows of capital have been dislocated. Above all, it has set out forces of new conditionality surrounding the developmental state, constraining its...