Publisher's Synopsis
Inflation and Disinflation in Turkey examines Turkey's experience of inflation from 1963 to the present time. During this period it has gained an outward-oriented development strategy? respectable growth? and become reasonably well integrated with world trade and financial markets. Countering this positive picture of the Turkish economy over the last two decades? however? is the incompleteness of its reform process: the boom-bust nature of its growth? persistently high inflation? delays in privatizing state-owned enterprises? and high and persistent government budget deficits. - - Despite embarking on an IMF-backed stabilization program in 1999? Turkey has still experienced two financial crises and has accordingly redesigned its stabilization program to bring inflation down more gradually. This study of a pivotal State with a rich economic history will be of great interest to researchers of development? the IMF? and of macroeconomic stabilization policies.
