Publication: Turkey : Managing Labor Markets Through the Economic Cycle
Date
2013-03-15
ISSN
Published
2013-03-15
Author(s)
World Bank
Abstract
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.
Link to Data Set
Citation
“World Bank. 2013. Turkey : Managing Labor Markets Through the Economic Cycle. © Washington, DC. http://hdl.handle.net/10986/16067 License: CC BY 3.0 IGO.”