Publication:
Turkey Public Finance Review : Turkey in Transition--Time for a Fiscal Policy Pivot?

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dc.contributor.authorWorld Bank
dc.date.accessioned2014-08-14T19:39:00Z
dc.date.available2014-08-14T19:39:00Z
dc.date.issued2014-05-20
dc.description.abstractTurkey has experienced rapid growth and improved social outcomes over the past decade. Per-capita income in United States dollar (USD) terms tripled during the first decade of the 21th century, and Turkey is now the world's 17th largest economy. Fiscal policy was an important component of the reform program that delivered these successes. Prudent fiscal policy also provided the fiscal space to soften the blow of the global economic and financial crisis in 2008-2009. This report documents the central role played by fiscal policy over the last decade and presents simulation results from a computable general equilibrium model that will help inform the future direction of fiscal policy to support sustained high growth. The dynamics of fiscal outcomes and private investment and savings raise a series of tradeoffs for policy going forward. The analysis in this report suggests that public investment can crowd-in private investment and promote a more sustainable growth path. Government revenue dynamics present another set of trade-offs. These fiscal trade-offs are likely to be exacerbated as the structural transformation of Turkey's economy slows down. Structural reforms can support the fiscal policy pivot, particularly by strengthening the supply side of the economy, for instance through an increase in female labor force participation.en
dc.identifierhttp://documents.worldbank.org/curated/en/2014/05/19893358/turkey-public-finance-review-turkey-transition-time-fiscal-policy-pivot
dc.identifier.doi10.1596/19321
dc.identifier.urihttps://hdl.handle.net/10986/19321
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCESS TO CREDIT
dc.subjectACCESS TO EDUCATION
dc.subjectACCOUNTING
dc.subjectACTIVE DEBT
dc.subjectAMORTIZATIONS
dc.subjectASSET CLASSES
dc.subjectBANK CREDIT
dc.subjectBANKING CRISIS
dc.subjectBANKING SECTOR
dc.subjectBANKING SUPERVISION
dc.subjectBEQUEST
dc.subjectBINDING CONSTRAINT
dc.subjectBOND SPREADS
dc.subjectBORROWING
dc.subjectBORROWING COSTS
dc.subjectBORROWING REQUIREMENT
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL FORMATIONS
dc.subjectCAPITAL GAINS
dc.subjectCAPITAL INFLOW
dc.subjectCAPITAL INFLOWS
dc.subjectCAPITAL INVESTMENT
dc.subjectCAPITAL MARKETS
dc.subjectCAPITAL OUTFLOWS
dc.subjectCAPITAL SHARE
dc.subjectCAPITAL STOCK
dc.subjectCC
dc.subjectCENTRAL BANK
dc.subjectCONSUMER CONFIDENCE
dc.subjectCONTINGENT LIABILITIES
dc.subjectCREDIT MARKETS
dc.subjectCURRENCY
dc.subjectCURRENT ACCOUNT
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectCURRENT ACCOUNT DEFICITS
dc.subjectDEBT BURDEN
dc.subjectDEBT FINANCING
dc.subjectDEBT MATURITIES
dc.subjectDEBT MATURITY
dc.subjectDEBT RATIO
dc.subjectDECENTRALIZATION
dc.subjectDEMOGRAPHIC
dc.subjectDEMOGRAPHIC PROFILE
dc.subjectDEVELOPING COUNTRIES
dc.subjectDISPOSABLE INCOME
dc.subjectDOLLAR VALUE
dc.subjectDOMESTIC CREDIT
dc.subjectDOMESTIC DEBT
dc.subjectDOMESTIC DEBT MARKETS
dc.subjectDOMESTIC INTEREST RATES
dc.subjectEARNINGS
dc.subjectECONOMIC COOPERATION
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC OPPORTUNITIES
dc.subjectECONOMIC POLICY
dc.subjectECONOMIC REFORMS
dc.subjectEMERGING ECONOMIES
dc.subjectEMERGING MARKET
dc.subjectEMERGING MARKET ECONOMIES
dc.subjectEMERGING MARKETS
dc.subjectEMPLOYEE
dc.subjectEMPLOYER
dc.subjectEMPLOYER CONTRIBUTIONS
dc.subjectEMPLOYERS
dc.subjectEMPLOYMENT GROWTH
dc.subjectENROLLMENT
dc.subjectEXCHANGE RATE
dc.subjectEXPENDITURE
dc.subjectEXTERNAL CAPITAL
dc.subjectEXTERNAL DEBT
dc.subjectEXTERNAL FINANCING
dc.subjectFAMILIES
dc.subjectFEDERAL RESERVE
dc.subjectFEDERAL RESERVE BANK
dc.subjectFINANCIAL ASSETS
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL GLOBALIZATION
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL MARKETS
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL EFFORT
dc.subjectFISCAL POLICY
dc.subjectFIXED CAPITAL
dc.subjectFLEXIBLE EXCHANGE RATE
dc.subjectFOREIGN CAPITAL
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN FINANCING
dc.subjectFOREIGN INFLOWS
dc.subjectFORMAL SAVINGS
dc.subjectGLOBAL CAPITAL
dc.subjectGLOBAL ECONOMY
dc.subjectGLOBAL RISK
dc.subjectGLOBALIZATION
dc.subjectGOVERNMENT ACCOUNTS
dc.subjectGOVERNMENT EXPENDITURES
dc.subjectGOVERNMENT PAPER
dc.subjectGOVERNMENT REVENUE
dc.subjectGOVERNMENT REVENUES
dc.subjectGOVERNMENT SPENDING
dc.subjectGREATER ACCESS
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROWTH RATES
dc.subjectHOLDINGS
dc.subjectHOME OWNERSHIP
dc.subjectHOMEOWNERS
dc.subjectHOMEOWNERSHIP
dc.subjectHOUSEHOLD INCOMES
dc.subjectHOUSEHOLD SAVING
dc.subjectHOUSEHOLD SAVING RATES
dc.subjectHOUSEHOLD SAVINGS
dc.subjectHOUSEHOLDS
dc.subjectINCOME LEVELS
dc.subjectINCOME TAX
dc.subjectINCOME TAXES
dc.subjectINFLATION
dc.subjectINFLATION RATES
dc.subjectINFORMAL WORKERS
dc.subjectINFORMATION TECHNOLOGY
dc.subjectINSURANCE
dc.subjectINTEREST EXPENDITURES
dc.subjectINTEREST PAYMENT
dc.subjectINTEREST PAYMENTS
dc.subjectINTERNATIONAL CAPITAL
dc.subjectINTERNATIONAL DEVELOPMENT
dc.subjectINTERNATIONAL FINANCE
dc.subjectINTERNATIONAL STANDARDS
dc.subjectINTERNATIONAL TRADE
dc.subjectINVESTMENT FINANCING
dc.subjectINVESTMENT PORTFOLIO
dc.subjectINVESTMENT RATE
dc.subjectINVESTMENT RATES
dc.subjectINVESTMENT SPENDING
dc.subjectJOB CREATION
dc.subjectLABOR FORCE PARTICIPATION
dc.subjectLABOR MARKET
dc.subjectLIFE EXPECTANCY
dc.subjectLIQUIDITY
dc.subjectLOAN
dc.subjectLOCAL GOVERNMENTS
dc.subjectLOW INTEREST RATES
dc.subjectMACROECONOMIC STABILITY
dc.subjectMACROECONOMIC STABILIZATION
dc.subjectMACROECONOMIC UNCERTAINTY
dc.subjectMARKET CONSTRAINTS
dc.subjectMARKET REFORMS
dc.subjectMARKET TRENDS
dc.subjectMICRO DATA
dc.subjectMINIMUM WAGE
dc.subjectMINIMUM WAGES
dc.subjectMONETARY FUND
dc.subjectMONETARY POLICY
dc.subjectNATIONAL SAVING
dc.subjectNATIONAL SAVINGS
dc.subjectNOMINAL INTEREST RATES
dc.subjectOUTPUT
dc.subjectOUTPUT RATIO
dc.subjectPENSION
dc.subjectPENSION FUND
dc.subjectPENSION FUND CONTRIBUTIONS
dc.subjectPENSIONS
dc.subjectPERSONAL INCOME
dc.subjectPHYSICAL CAPITAL
dc.subjectPOLITICAL STABILITY
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO FLOWS
dc.subjectPORTFOLIO INVESTMENT
dc.subjectPOSITIVE DEBT
dc.subjectPRIVATE FINANCING
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATE SAVING
dc.subjectPRIVATE SAVINGS
dc.subjectPRIVATIZATION
dc.subjectPRODUCTION CAPACITY
dc.subjectPROPERTY TAX
dc.subjectPROPERTY TAXES
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC DEBT MANAGEMENT
dc.subjectPUBLIC FINANCE
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC INVESTMENTS
dc.subjectPUBLIC POLICY
dc.subjectPUBLIC SAVING
dc.subjectPUBLIC SAVINGS
dc.subjectRAPID GROWTH
dc.subjectREAL ESTATE
dc.subjectREAL EXCHANGE RATE
dc.subjectREAL INTEREST
dc.subjectREAL INTEREST RATE
dc.subjectREAL INTEREST RATES
dc.subjectRECEIPTS
dc.subjectREGULATORY FRAMEWORK
dc.subjectRETIREMENT AGE
dc.subjectREVOLVING FUNDS
dc.subjectRISK AVERSION
dc.subjectRISK MANAGEMENT
dc.subjectSAVINGS ACCOUNTS
dc.subjectSAVINGS RATE
dc.subjectSAVINGS RATES
dc.subjectSOCIAL DEVELOPMENT
dc.subjectSOCIAL FUND
dc.subjectSOCIAL FUNDS
dc.subjectSOCIAL SECURITY
dc.subjectSOURCES OF FINANCE
dc.subjectSOVEREIGN BOND
dc.subjectSOVEREIGN RISK
dc.subjectSUSTAINABLE GROWTH
dc.subjectTAX
dc.subjectTAX COLLECTION
dc.subjectTAX POLICY
dc.subjectTAX RATE
dc.subjectTAX RATES
dc.subjectTAX SYSTEM
dc.subjectTELECOMMUNICATIONS
dc.subjectTREASURY
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT INSURANCE
dc.subjectUNION
dc.subjectWEALTH EFFECT
dc.subjectWEALTH EFFECTS
dc.titleTurkey Public Finance Review : Turkey in Transition--Time for a Fiscal Policy Pivot?en
dspace.entity.typePublication
okr.date.disclosure2014-07-28
okr.date.doiregistration2025-05-07T09:34:32.269728Z
okr.doctypeEconomic & Sector Work::Public Investment Review
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2014/05/19893358/turkey-public-finance-review-turkey-transition-time-fiscal-policy-pivot
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid666141468317993814
okr.identifier.externaldocumentum000333037_20140728143340
okr.identifier.internaldocumentum19893358
okr.identifier.report85104
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2014/07/28/000333037_20140728143340/Rendered/PDF/851040ESW0REVI00385254B00PUBLIC00TR.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryTurkiye
okr.sectorPublic Administration, Law, and Justice :: Public administration- Education
okr.sectorPublic Administration, Law, and Justice :: Public administration- Health
okr.sectorPublic Administration, Law, and Justice :: Public administration- Other social services
okr.sectorPublic Administration, Law, and Justice :: Public administration- Energy and mining
okr.sectorPublic Administration, Law, and Justice :: Public administration- Transportation
okr.themeEconomic management :: Debt management and fiscal sustainability
okr.themePublic sector governance :: Administrative and civil service reform
okr.themePublic sector governance :: Decentralization
okr.themePublic sector governance :: Public expenditure, financial management and procurement
okr.themeSocial protection and risk management :: Other social protection and risk management
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicBanks and Banking Reform
okr.topicEconomic Theory and Research
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicMacroeconomics and Economic Growth
okr.unitMacroeconomics 1 (ECSP1)
okr.volume1 of 1
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