OECD economic surveys : Turkey 1996-1997 / Organisation for Economic Co-operation and Development.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development, issuing body.

Series:

OECD Economic Surveys: Turkey

Language:

English

Subjects (All):

Economic history.

Turkey--Economic conditions.

Turkey.

Physical Description:

1 online resource (125 pages)

Edition:

1st ed.

Place of Publication:

Paris, France : OECD Publishing, [1997]

Language Note:

English

Summary:

Assessment and recommendations I. Recent economic developments and prospects -Introduction -Demand and output -Labour market trends -Costs and prices -External developments -Short-term economic prospects II. Macroeconomic policies -Introduction -Fiscal policy -Monetary and exchange rate policy -The costs of inflation -A medium-term macroeconomic policy framework III. Building a consensus for structural reform -Income distribution in Turkey is highly skewed -Human resource development -Recent progress in structural reform -Other areas of reform -Concluding comments Bibliography Annexes -I. The inflation process -II. Financial stress index -III. The financeable public sector deficit -IV. Medium-term fiscal strategic planning -V. A currency board approach to monetary policy -VI. Calendar of main economic events Statistical annex and structural indicators.

Contents:

Intro

Table of contents

Assessment and recommendations

I. Recent economic developments and prospects

Introduction

Demand and output

Figure 1. KEY ASPECTS OF ECONOMIC ACTIVITY

Figure 2. INDUSTRIAL TRENDS

Table 1. Supply and use of resources

Forces acting on the economy

Figure 3. DEBT MATURITY AND ACTIVITY

Labour market trends

Table 2. Labour market indicators

Costs and prices

Figure 4. INFLATION DEVELOPMENTS

External developments

Table 3. Balance of payments

Figure 5. EXCHANGE RATE DEVELOPMENTS

Figure 6. CURRENT ACCOUNT, DIRECT INVESTMENT AND EXTERNAL DEBT

Table 4. External debt of Turkey

Short-term economic prospects

Table 5. Projections for 1997 and 1998

Figure 7. FINANCIAL MARKET STRESS INDEX

II. Macroeconomic policies

Fiscal policy

Figure 8. CONSOLIDATED BUDGET AND PRIMARY BUDGET BALANCES

The 1996 budget outcome in perspective

Off-budget developments

Debt management patterns

Figure 9. FINANCING THE CONSOLIDATED BUDGET DEFICIT

Table 6. Public sector finances

Figure 10. DEBT REDEMPTIONS AND REDEMPTION RATIOS

The 1997 budget: a radical break from the past

Table 7. 1996 and 1997 budgets

Privatisation will play a crucial role

Spending will be reoriented

Monetary and exchange rate policy

Monetary and exchange rate trends

Table 8. Monetary conditions

Figure 11. REAL MONEY GROWTH

Figure 12. CURRENCY SUBSTITUTION

The costs of inflation

Figure 13. FINANCIAL DEEPENING

Figure 14. BANK CREDIT

Figure 15. INFLATION AND MONEY GROWTH

A medium-term macroeconomic policy framework

Establishing fiscal rules or benchmarks

III. Building a consensus for structural reform

Income distribution in Turkey is highly skewed

Figure 16. LORENZ CURVES FOR TURKEY

Figure 17. THE GINI MEASURE OF INCOME INEQUALITY.

Figure 18. FACTOR INCOME SHARES

Human resource development

Recent progress in structural reform

Table 9. Summary of recent progress in Turkish structural reform

Agricultural support

Figure 19. PRODUCER SUBSIDY EQUIVALENTS

Figure 20. COMPOSITION OF FARM ASSISTANCE

Tax administration

State Economic Enterprises

Privatisation

Social security

Financial market regulations

Other areas of reform

Implementing the OECD Jobs Strategy

Concluding comments

Notes

Bibliography

ANNEXES

Annex I. The inflation process

Table A1. Regression equation for wholesale prices

Figure A1. ACTUAL AND PREDICTED MONTHLY INFLATION OUTCOMES

Figure A2. SIMULATED ANNUAL INFLATION PATHS

Annex II. Financial stress index

Figure A3. FINANCIAL STRESS INDEX COMPONENT SERIES

Table A2. Regression equation for Financial Market Stress index

Annex III. The financeable public sector deficit

Figure A4. MEDIUM-TERM FISCAL INFLATION TRADE-OFFS

Annex IV. Medium-term fiscal strategic planning

Table A3. OECD Secretariat central case

Table A4. 1997 budget programme followed by further progress

Table A5. No fiscal consolidation and less favourable market developments

Annex V. A currency board approach to monetary policy

Annex VI. Calendar of main economic events

STATISTICAL ANNEX AND STRUCTURAL INDICATORS

Table A. Gross domestic product, current prices

Table B. Gross domestic product, constant prices

Table C. Gross domestic product by kind of activity

Table D. Industrial production

Table E. Prices

Table F. Imports by commodities

Table G. Exports by commodities

Table H. Geographic distribution of foreign trade

Table I. Balance of payments

Table J. External trade indicators

Table K. External debt of Turkey

Table L. Money and banking

Table M. Public sector borrowing.

Table N. Consolidated budget

Table O. Central government budget revenue

BASIC STATISTICS: INTERNATIONAL COMPARISONS

BASIC STATISTICS: INTERNATIONAL COMPARISONS (cont'd)

MAIN SALES OUTLETS OF OECD PUBLICATIONS / PRINCIPAUX POINTS DE VENTE DES PUBLICATIONS DE L'OCDE

TABLES

FIGURES

Figure 17. THE GINI MEASURE OF INCOME INEQUALITY

Figure 18. FACTOR INCOME SHARES

Figure 20. COMPOSITION OF FARM ASSISTANCE.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Description based on print version record.

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-14965-1

OCLC:

1226582970