Turkey’s Shift to a More Open Economy

October 6, 2009 at 8:00 am

Applying for EU membership has sped up reforms, and that has helped the country weather the current crisis.

Turkey cannot escape the ravages of the global recession. But this time it may avoid the pains that often afflict this promising country in a downturn. For the Turks, a recession usually goes like this: A wild boom triggers high inflation, the currency collapses, and the poorly managed banking sector, hooked on speculative trading and foreign debt, has a near-death experience. Turkey has a well-educated workforce, proximity to Europe, and a shrewd management class. But financial fragility, including a meltdown that sparked riots in 2001, has kept it from entering the first rank of emerging market economies (By S. Reed, BusinessWeek, October 1, 2009).

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Entry filed under: Business Cases, Business Development, Turkey.

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Travel with the Northern Kentucky Chamber in 2012

Peru - August 12-20, 2012
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