Chapter

Incentives or Compensation? Government Support for Private Investments in Turkey

Ahmed Galal

in Industrial Policy in the Middle East and North Africa

Published by American University in Cairo Press

Published in print April 2008 | ISBN: 9789774160509
Published online September 2011 | e-ISBN: 9781617970290 | DOI: http://dx.doi.org/10.5743/cairo/9789774160509.003.0003
Incentives or Compensation? Government Support for Private Investments in Turkey

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The history of government support to private investment in Turkey was not a new phenomenon. The adoption of the idea of the development planning in the early 1960s systematized economic policymaking in Turkey. Plans were only indicative for the private sector and the desired outcomes could only be achieved if private decision makers could be encouraged to take actions that supported the objectives of the plan. The situation improved as a result of a drastic shift in economic policies, from inward-looking industrialization to export-oriented growth in the early 1980s. Turkey's reform strategy was based on the classical sequencing approach, and in 1990 it liberalized the capital account of its balance of payments after “completing” reforms in the areas of finance and trade.

Keywords: adoption; Turkey; industrialization; finance; trade

Chapter.  5105 words.  Illustrated.

Subjects: International Relations

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