This paper examines Turkey’s 2004 Article IV Consultation and Eighth Review Under the Stand-By Arrangement and Request for Waiver of Nonobservance of Performance Criterion. Economic performance over the last three years has been impressive. For the medium term, the main challenge is to...

Turkey showed strong implementation of macroeconomic policies and economic reforms under the Stand-By Arrangement (SBA). Executive Directors commended the disinflation, debt reduction, and sustained economic growth, and stressed the need to safeguard macroeconomic stability and accelerate...

This Report on the Observance of Standards and Codes provides a review of Turkey’s data dissemination practices against the IMF’s Special Data Dissemination Standard (SDDS) complemented by an in-depth assessment of the quality of the national accounts, consumer and producer price indices,...

This paper examines Turkey’s Third Review Under the Stand-By Arrangement (SBA). The Turkish authorities’ perseverance with their economic program started to yield major gains in the first part of 2002. Through April 2002, the program outperformed expectations. With strong policy...

“This book explores the internationalization of Turkish multinationals by examining a set of firms from various industries and providing eleven detailed case studies. The authors aim to discover the reasons behind the drive for internationalization within the firms, and how their...

At the EU Council in December 2004, European heads of governments decided to start EU accession negotiations with Turkey in October 2005. Various recent analyses assess the cost of applying the Common Agricultural Policy of the EU (CAP) to Turkey; most of them without taking into account the...

Turkey entered a customs union (CU) with the EU in January 1996. Agricultural trade is not covered by this CU but it is subject to extensive preferential trade rules. In this article, the effects of an inclusion of agricultural products in the CU as well as alternative policy options on the...

Improved macroeconomic conditions and changes to the asset-liability structure on Turkish balance sheets since the 2001 crisis have improved Turkey''s overall sovereign risk profile. Nonetheless, the country remains subject to bouts of volatility, as evidenced most recently in the May/June 2006...

Growth and inflation in Turkey have been volatile over the last two decades. It would, therefore, be useful to identify indicators that anticipate economic conditions and inflation. This paper investigates the predictive performance of economic indicators for inflation and real output growth in...