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Transformations in the Turkish Economy: A Political Economy Analysis of 100 Years of the Republic of Turkey

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Turkey, a Century of Change in State and Society

Abstract

This chapter analyzes Turkey’s economy over the past century from a critical political economy perspective, focusing on its integration into the global economy and its domestic socio-political transformations. It divides the century into four sub-periods. The first sub-period from 1923 to 1960 was characterized by the state-building efforts to establish the Western-style capitalism. The second sub-period from 1960 to 1980 was dominated by an import substitution industrialization strategy within the framework of economic planning. The third sub-period from 1980 to 2001 was marked by economic liberalization, a transition from import substitution to export-led industrialization, and authoritarian politics introduced by the 1980 military coup. The final sub-period, which started in 2001, saw the rise and crisis of dependent financialization in Turkey. The author argues that Turkey’s economic trajectory has been shaped by the alignment between the political and economic elites and calls for a more nuanced historiography to understand the country’s political economy direction.

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  1. Berlin School of Economics and Law, Berlin, Germany

    Ümit Akçay

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Akçay, Ü. (2023). Transformations in the Turkish Economy: A Political Economy Analysis of 100 Years of the Republic of Turkey. In: Balci, B., Monceau, N. (eds) Turkey, a Century of Change in State and Society. The Sciences Po Series in International Relations and Political Economy. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-031-33444-3_3

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