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

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collection.link.92
https://openknowledge.worldbank.org/handle/10986/2200
collection.name.92
Public Investment Review
dc.contributor.author
World Bank
dc.date.accessioned
2014-08-14T19:39:00Z
dc.date.available
2014-08-14T19:39:00Z
dc.date.issued
2014-05-20
dc.date.lastModified
2021-04-23T14:03:51Z
dc.description.abstract
Turkey 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.identifier
http://documents.worldbank.org/curated/en/2014/05/19893358/turkey-public-finance-review-turkey-transition-time-fiscal-policy-pivot
dc.identifier.uri
http://hdl.handle.net/10986/19321
dc.language
English
dc.language.iso
en_US
dc.publisher
Washington, DC
dc.rights
CC BY 3.0 IGO
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo/
dc.subject
ACCESS TO CREDIT
dc.subject
ACCESS TO EDUCATION
dc.subject
ACCOUNTING
dc.subject
ACTIVE DEBT
dc.subject
AMORTIZATIONS
dc.subject
ASSET CLASSES
dc.subject
BANK CREDIT
dc.subject
BANKING CRISIS
dc.subject
BANKING SECTOR
dc.subject
BANKING SUPERVISION
dc.subject
BEQUEST
dc.subject
BINDING CONSTRAINT
dc.subject
BOND SPREADS
dc.subject
BORROWING
dc.subject
BORROWING COSTS
dc.subject
BORROWING REQUIREMENT
dc.subject
CAPITAL FLOWS
dc.subject
CAPITAL FORMATIONS
dc.subject
CAPITAL GAINS
dc.subject
CAPITAL INFLOW
dc.subject
CAPITAL INFLOWS
dc.subject
CAPITAL INVESTMENT
dc.subject
CAPITAL MARKETS
dc.subject
CAPITAL OUTFLOWS
dc.subject
CAPITAL SHARE
dc.subject
CAPITAL STOCK
dc.subject
CC
dc.subject
CENTRAL BANK
dc.subject
CONSUMER CONFIDENCE
dc.subject
CONTINGENT LIABILITIES
dc.subject
CREDIT MARKETS
dc.subject
CURRENCY
dc.subject
CURRENT ACCOUNT
dc.subject
CURRENT ACCOUNT DEFICIT
dc.subject
CURRENT ACCOUNT DEFICITS
dc.subject
DEBT BURDEN
dc.subject
DEBT FINANCING
dc.subject
DEBT MATURITIES
dc.subject
DEBT MATURITY
dc.subject
DEBT RATIO
dc.subject
DECENTRALIZATION
dc.subject
DEMOGRAPHIC
dc.subject
DEMOGRAPHIC PROFILE
dc.subject
DEVELOPING COUNTRIES
dc.subject
DISPOSABLE INCOME
dc.subject
DOLLAR VALUE
dc.subject
DOMESTIC CREDIT
dc.subject
DOMESTIC DEBT
dc.subject
DOMESTIC DEBT MARKETS
dc.subject
DOMESTIC INTEREST RATES
dc.subject
EARNINGS
dc.subject
ECONOMIC COOPERATION
dc.subject
ECONOMIC DEVELOPMENT
dc.subject
ECONOMIC GROWTH
dc.subject
ECONOMIC OPPORTUNITIES
dc.subject
ECONOMIC POLICY
dc.subject
ECONOMIC REFORMS
dc.subject
EMERGING ECONOMIES
dc.subject
EMERGING MARKET
dc.subject
EMERGING MARKET ECONOMIES
dc.subject
EMERGING MARKETS
dc.subject
EMPLOYEE
dc.subject
EMPLOYER
dc.subject
EMPLOYER CONTRIBUTIONS
dc.subject
EMPLOYERS
dc.subject
EMPLOYMENT GROWTH
dc.subject
ENROLLMENT
dc.subject
EXCHANGE RATE
dc.subject
EXPENDITURE
dc.subject
EXTERNAL CAPITAL
dc.subject
EXTERNAL DEBT
dc.subject
EXTERNAL FINANCING
dc.subject
FAMILIES
dc.subject
FEDERAL RESERVE
dc.subject
FEDERAL RESERVE BANK
dc.subject
FINANCIAL ASSETS
dc.subject
FINANCIAL CRISIS
dc.subject
FINANCIAL GLOBALIZATION
dc.subject
FINANCIAL MANAGEMENT
dc.subject
FINANCIAL MARKETS
dc.subject
FISCAL DEFICIT
dc.subject
FISCAL DEFICITS
dc.subject
FISCAL EFFORT
dc.subject
FISCAL POLICY
dc.subject
FIXED CAPITAL
dc.subject
FLEXIBLE EXCHANGE RATE
dc.subject
FOREIGN CAPITAL
dc.subject
FOREIGN DIRECT INVESTMENT
dc.subject
FOREIGN FINANCING
dc.subject
FOREIGN INFLOWS
dc.subject
FORMAL SAVINGS
dc.subject
GLOBAL CAPITAL
dc.subject
GLOBAL ECONOMY
dc.subject
GLOBAL RISK
dc.subject
GLOBALIZATION
dc.subject
GOVERNMENT ACCOUNTS
dc.subject
GOVERNMENT EXPENDITURES
dc.subject
GOVERNMENT PAPER
dc.subject
GOVERNMENT REVENUE
dc.subject
GOVERNMENT REVENUES
dc.subject
GOVERNMENT SPENDING
dc.subject
GREATER ACCESS
dc.subject
GROSS DOMESTIC PRODUCT
dc.subject
GROWTH RATES
dc.subject
HOLDINGS
dc.subject
HOME OWNERSHIP
dc.subject
HOMEOWNERS
dc.subject
HOMEOWNERSHIP
dc.subject
HOUSEHOLD INCOMES
dc.subject
HOUSEHOLD SAVING
dc.subject
HOUSEHOLD SAVING RATES
dc.subject
HOUSEHOLD SAVINGS
dc.subject
HOUSEHOLDS
dc.subject
INCOME LEVELS
dc.subject
INCOME TAX
dc.subject
INCOME TAXES
dc.subject
INFLATION
dc.subject
INFLATION RATES
dc.subject
INFORMAL WORKERS
dc.subject
INFORMATION TECHNOLOGY
dc.subject
INSURANCE
dc.subject
INTEREST EXPENDITURES
dc.subject
INTEREST PAYMENT
dc.subject
INTEREST PAYMENTS
dc.subject
INTERNATIONAL CAPITAL
dc.subject
INTERNATIONAL DEVELOPMENT
dc.subject
INTERNATIONAL FINANCE
dc.subject
INTERNATIONAL STANDARDS
dc.subject
INTERNATIONAL TRADE
dc.subject
INVESTMENT FINANCING
dc.subject
INVESTMENT PORTFOLIO
dc.subject
INVESTMENT RATE
dc.subject
INVESTMENT RATES
dc.subject
INVESTMENT SPENDING
dc.subject
JOB CREATION
dc.subject
LABOR FORCE PARTICIPATION
dc.subject
LABOR MARKET
dc.subject
LIFE EXPECTANCY
dc.subject
LIQUIDITY
dc.subject
LOAN
dc.subject
LOCAL GOVERNMENTS
dc.subject
LOW INTEREST RATES
dc.subject
MACROECONOMIC STABILITY
dc.subject
MACROECONOMIC STABILIZATION
dc.subject
MACROECONOMIC UNCERTAINTY
dc.subject
MARKET CONSTRAINTS
dc.subject
MARKET REFORMS
dc.subject
MARKET TRENDS
dc.subject
MICRO DATA
dc.subject
MINIMUM WAGE
dc.subject
MINIMUM WAGES
dc.subject
MONETARY FUND
dc.subject
MONETARY POLICY
dc.subject
NATIONAL SAVING
dc.subject
NATIONAL SAVINGS
dc.subject
NOMINAL INTEREST RATES
dc.subject
OUTPUT
dc.subject
OUTPUT RATIO
dc.subject
PENSION
dc.subject
PENSION FUND
dc.subject
PENSION FUND CONTRIBUTIONS
dc.subject
PENSIONS
dc.subject
PERSONAL INCOME
dc.subject
PHYSICAL CAPITAL
dc.subject
POLITICAL STABILITY
dc.subject
PORTFOLIO
dc.subject
PORTFOLIO FLOWS
dc.subject
PORTFOLIO INVESTMENT
dc.subject
POSITIVE DEBT
dc.subject
PRIVATE FINANCING
dc.subject
PRIVATE INVESTMENT
dc.subject
PRIVATE SAVING
dc.subject
PRIVATE SAVINGS
dc.subject
PRIVATIZATION
dc.subject
PRODUCTION CAPACITY
dc.subject
PROPERTY TAX
dc.subject
PROPERTY TAXES
dc.subject
PUBLIC DEBT
dc.subject
PUBLIC DEBT MANAGEMENT
dc.subject
PUBLIC FINANCE
dc.subject
PUBLIC FINANCES
dc.subject
PUBLIC INVESTMENT
dc.subject
PUBLIC INVESTMENTS
dc.subject
PUBLIC POLICY
dc.subject
PUBLIC SAVING
dc.subject
PUBLIC SAVINGS
dc.subject
RAPID GROWTH
dc.subject
REAL ESTATE
dc.subject
REAL EXCHANGE RATE
dc.subject
REAL INTEREST
dc.subject
REAL INTEREST RATE
dc.subject
REAL INTEREST RATES
dc.subject
RECEIPTS
dc.subject
REGULATORY FRAMEWORK
dc.subject
RETIREMENT AGE
dc.subject
REVOLVING FUNDS
dc.subject
RISK AVERSION
dc.subject
RISK MANAGEMENT
dc.subject
SAVINGS ACCOUNTS
dc.subject
SAVINGS RATE
dc.subject
SAVINGS RATES
dc.subject
SOCIAL DEVELOPMENT
dc.subject
SOCIAL FUND
dc.subject
SOCIAL FUNDS
dc.subject
SOCIAL SECURITY
dc.subject
SOURCES OF FINANCE
dc.subject
SOVEREIGN BOND
dc.subject
SOVEREIGN RISK
dc.subject
SUSTAINABLE GROWTH
dc.subject
TAX
dc.subject
TAX COLLECTION
dc.subject
TAX POLICY
dc.subject
TAX RATE
dc.subject
TAX RATES
dc.subject
TAX SYSTEM
dc.subject
TELECOMMUNICATIONS
dc.subject
TREASURY
dc.subject
UNEMPLOYMENT
dc.subject
UNEMPLOYMENT INSURANCE
dc.subject
UNION
dc.subject
WEALTH EFFECT
dc.subject
WEALTH EFFECTS
dc.title
Turkey Public Finance Review : Turkey in Transition--Time for a Fiscal Policy Pivot?
en
okr.date.disclosure
2014-07-28
okr.doctype
Economic & Sector Work :: Public Investment Review
okr.doctype
Economic & Sector Work
okr.docurl
http://documents.worldbank.org/curated/en/2014/05/19893358/turkey-public-finance-review-turkey-transition-time-fiscal-policy-pivot
okr.globalpractice
Macroeconomics and Fiscal Management
okr.globalpractice
Finance and Markets
okr.globalpractice
Trade and Competitiveness
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
000333037_20140728143340
okr.identifier.internaldocumentum
19893358
okr.identifier.report
85104
okr.language.supported
en
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2014/07/28/000333037_20140728143340/Rendered/PDF/851040ESW0REVI00385254B00PUBLIC00TR.pdf
en
okr.region.administrative
Europe and Central Asia
okr.region.country
Turkey
okr.sector
Public Administration, Law, and Justice :: Public administration- Education
okr.sector
Public Administration, Law, and Justice :: Public administration- Health
okr.sector
Public Administration, Law, and Justice :: Public administration- Other social services
okr.sector
Public Administration, Law, and Justice :: Public administration- Energy and mining
okr.sector
Public Administration, Law, and Justice :: Public administration- Transportation
okr.theme
Economic management :: Debt management and fiscal sustainability
okr.theme
Public sector governance :: Administrative and civil service reform
okr.theme
Public sector governance :: Decentralization
okr.theme
Public sector governance :: Public expenditure, financial management and procurement
okr.theme
Social protection and risk management :: Other social protection and risk management
okr.topic
Finance and Financial Sector Development :: Access to Finance
okr.topic
Banks and Banking Reform
okr.topic
Economic Theory and Research
okr.topic
Private Sector Development :: Emerging Markets
okr.topic
Finance and Financial Sector Development :: Debt Markets
okr.topic
Macroeconomics and Economic Growth
okr.unit
Macroeconomics 1 (ECSP1)
okr.volume
1 of 1

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