Publication: Turkey : Managing Labor Markets Through the Economic Cycle

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World Bank
The Turkish economy was hit hard by the global economic crisis, but recovered fast and strong. The economy had already started to slow down in 2007, but the global financial events of late 2008 led to a sharp contraction starting in the last quarter of 2008 until growth resumed in the last quarter of 2009. The recovery was rapid, with growth reaching 9 percent in 2010 and 8.5 percent in 2011. This study looks at how the labor market fared during the recent downturn and recovery and informs policies to manage labor markets through the economic cycle and address the jobs challenge in Turkey. The study investigates: (i) pre-crisis labor market trends and the structural jobs challenge in Turkey; (ii) aggregate and distributional impacts of the recent crisis, and subsequent recovery, on the labor market; and (iii) recent policy measures and existing labor market institutions in the context of observed labor market outcomes. Based on this analysis and a comparison with selected countries from around the world, the study suggests options to improve the responsiveness of policies to future crises and to adjust the policy mix through the economic cycle. Finally, the study links policies to manage labor markets through the cycle with measures to address the longer term, structural jobs challenge in Turkey.
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World Bank. 2013. Turkey : Managing Labor Markets Through the Economic Cycle. © Washington, DC. License: CC BY 3.0 IGO.
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