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This one-pager note presents key findings for Turkey from Society at a Glance 2011 - OECD Social indicators. This 2011 publication also provides a special chapter on unpaid work across the OECD.
Turkey is recovering from a severe recession. Once growth gains full speed, the authorities will likely face the challenge of widening external imbalances and of ensuring a smooth functioning of the financial markets.
Turkey is recovering from its most severe recession in several decades.
In the 2000s, Turkey has enjoyed rapid catching–up. This was possible despite the adverse business environment, as the semi–formal and informal economy had a significant contribution to the expansion of the private sector.
The unique OECD peer review process has helped improve public policy. It assesses how countries manage the design, adoption and enforcement of regulations according to a conceptual framework. It ensures comparability while taking account of institutional and cultural differences across countries.
As part of its ongoing work on the mutual agreement procedure (MAP) under tax treaties, the OECD makes available to the public annual statistics on the MAP caseloads of member countries and of certain non-OECD economies. MAP statistics have now been released for 2008 and 2009.
Turkey has considerably improved its terms of access to the global capital market. Progress in macroeconomic fundamentals has enhanced credibility and reduced risk premia and capital costs.
Summary of Economic Surveys of Turkey
Turkey was directly affected by the global crisis but showed considerable resilience since then. The strong macroeconomic policy framework provided support. With the recovery under way, a golden opportunity for structural reforms arises from the sharp drop in capital costs.
This review analyses the broad range of energy challenges facing Turkey and provides critiques and recommendations for further policy improvements.