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    Global crisis, national responses: the political economy of Turkish exceptionalism

    Öniş, Z. and Guven, Ali Burak (2011) Global crisis, national responses: the political economy of Turkish exceptionalism. New Political Economy 16 (5), pp. 585-608. ISSN 1356-3467.

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    Abstract

    With its dilatory and piecemeal fiscal activism and uncharacteristic aversion to IMF assistance, the Turkish government's response to the global economic crisis of 2008–9 diverged considerably from prevalent trends in other major emerging market countries. Underlying this intriguing pattern were Turkey's pre-existing policy and macroeconomic constraints, cognitive lapses on the part of policymakers, and the conjunctural dynamics of domestic politics. The interplay of these factors progressively narrowed the policy space for vigorous action, leading to a motley combination of reactive initiatives that neither offered sufficient protection to vulnerable social groups nor promised sustainable growth in the long run despite rapid short-term recovery.

    Metadata

    Item Type: Article
    Keyword(s) / Subject(s): global economic crisis, fiscal stimulus, IMF, emerging markets, Turkey
    School: Birkbeck Schools and Departments > School of Social Sciences, History and Philosophy > Politics
    Depositing User: Sarah Hall
    Date Deposited: 22 Oct 2013 16:42
    Last Modified: 12 Feb 2014 15:48
    URI: http://eprints.bbk.ac.uk/id/eprint/8596

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