Turkish Economy Essay examples -- essays research papers

Turkish economic system - Structure and GrwothAt the time of the collapse of the Ottoman Empire during gentleman War I, the Turkish economy was at a lower placedeveloped agriculture dep abrogateed on outmoded techniques and poor-quality livestock, and the few factories producing basic products such as sugar and flour were under foreign control. Between 1923 and 1985, the economy grew at an average annual set out of 6 portion. In large part as a give of government policies, a backward economy developed into a hard economic system producing a wide range of countrified, industrial, and service products for twain domestic and export markets.Economic DevelopmentAt the birth of the republic, Turkeys industrial base was weak because Ottoman industries had been undermined by the capitulations. World War I and the War of Independence (1919-22) also had extensively disrupted the Turkish economy. The release of Ottoman territories, for example, cut off Anatolia from traditional mark ets. Agricultural output--the source of income for roughly of the population--had dropped sharply as peasants went to war. Even the output of wheat, Turkeys main crop, was insufficient to fill domestic demand. In addition, massacres and the emigration of Greeks, Armenians, and Jews, who had dominated urban economic life, caused a shortage of skilled laborers and entrepreneurs.Turkeys economy recovered remarkably once hostilities ceased. From 1923 to 1926, agricultural output rose by 87 percent, as agricultural production returned to prewar levels. Industry and go grew at more than 9 percent per year from 1923 to 1929 however, their share of the economy remained quite low at the end of the decade. By 1930, as a result of the world depression, external markets for Turkish agricultural exports had collapsed, causing a sharp decline in subject area income. The government stepped in during the early mid-thirties to promote economic recovery, pastime a doctrine known as etatism (se e Glossary). Growth slowed during the worst old age of the depression but between 1935 and 1939 reached 6 percent per year. During the 1940s, the economy stagnated, in large part because maintaining armed neutrality during World War II change magnitude the countrys military expenditures while almost entirely curtailing foreign trade. later 1950 the country suffered economic disruptions about once a decade the most serious crisis occurred in the late... ...h.Structure of the EconomyIn the years later on World War II, the economy became capable of supplying a overmuch broader range of goods and services. By 1994 the industrial sector accounted for scarcely under 40 percent of GDP, having surpassed agriculture (including forestry and fishing), which contributed about 16 percent of production. The rapid cant in industrys relative importance resulted from government policies in effect since the 1930s favoring industrialization (see fig. 8). In the early 1990s, the government aimed at continued increases in industrys share of the economy, especially by means of export promotion.Services increased from a small fraction of the economy in the 1920s to just under half of GDP by 1994. Several factors accounted for the growth of the services sector. Government--already sizable under the Ottomans--expanded as defense expenditures rose health, education, and welfare programs were use and the government work force was increased to staff the numerous newfound public organizations. Trade, tourism, transportation, and financial services also became more important as the economy developed and diversified. ________________________________________